Managing Products and Brands - created from Mind Map

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Product Life Cycle

4 Dimensions of PLC

Mngng PLC

Branding&Brand Mngmnt

Packaging & Labeing

Intro Stage

Growth

Decline

Maturity

Length PLC

Shape PLC

Prod Class & Form

LC of Consumer

Prod Mngr

Modify Prod

Modify Market

Reposition Prod

Branding, brand name, trade name and tradematk

Branding:orgs use name, phrase, design , symbol or combo to identify & distinguish from competitors

Brand Name: any word device ( design/sound/shape/ colour) combo to distinguish a sellers g/s

Brand Personality & Equtiy

Picking a Name

Branding Strategy

imbued personality through advertising

Creating brand equity

1) positive brand awareness 2) establish menaing 3) elicit proper consumer response 4) consumer/brand relationship

1)suggest product benefits 2)memorable, distinctive, & positive 3) fit company/ product image 4) no legal restrictions 5) be simple

MultiProduct

MultiBranding- ea. product a distinct name

Private- manufacture product & sell under retailer name

Mixed- own name and reseller's name

Product line extension

Creating Customer Vaue

Contemporary P&L Challenges

Communication, Functional & Perceptual Benefits

Connecting with customer & environmental concerns

Heath, Safety & Security Isses

Cost Reduction

Warrenty

safety latches, child proof, improve shelf life and prevent spoilage

redesign & new materials

Limited, full & implied