Competitive Dynamics - Product life-cycle marketing strategies
3 important questions on Competitive Dynamics - Product life-cycle marketing strategies
Advantages and disadvantages of pioneers:
Advantages:
Disadvantages:
- Brand name association
- Establishes attributes the products at that class should posses
- Customer inertia
- Producer advantages
Disadvantages:
- Poor new products
- Bad positioning
- No demand yet
- Product development costs
Three ways to change the course for a brand:
- Market modification
- Product modification; style, quality or feature improvement
- Marketing modification
Marketing in an economic downturn:
- Fine tune brands and product offerings;
- Increasing investment
- Get closer to customers
- More compelling value proposition
- Review budget allocations
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