Product Development And Product Life Cycle Management

The key for the marketer is to determine which stage is the most critical for his/her product.

Brand equity is a business having the clout and power of its product(s) to leverage that equity or clout for its need to raise capital or increase customers. Developing brand equity is important because it allows companies to interact with their customers in order to induce loyalty which increases the growth of a company. Every company, established ones as well as start-ups have the ability to create brand equity. It is especially important for start-ups because in the first step of business, they would want to ensure that

C. applies to categories or types of products as opposed to brands D. shows that sales and profits tend to move together over time 18) Which of the following is one of the product life cycle stages? A. Market analysis

A life cycle diagram helps businesses analysis their attempt to identify a set of commercial stages in the life of commercial products, for example, introduction, promotion, growth maturity and decline.

All products have a lifecycle. They begin as an idea that needs Research and Development (R&D) or time to develop. This is a direct cost to the company. Once the product and/or service is ready to be marketed, it goes through five stages: development, introduction, growth, maturity, and decline.

Brand equity is a consumer-based concept (Elliot 2017) and strategic asset of a company that encompasses the idea of the added value a brand contributes to a product. Influenced by consumer choices, it is the characteristic of a brand that indicates high levels of performance and determines the success of companies.

We start with the best ingredients, focus on minimum processing and offer consumers natural juice beverages that are simply fresh, energizing and delicious.

Branding is one of the most important aspects of any business structure. Your brand is meant to increase the competiveness against your company. “your brand is your promise to your customer. It tells them what they can expect from your products and services, and it differentiates

In the theory, it defines a brand as a name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate the offering from those of other competitors. Simply put, branding is one of the most important aspects of any business, large or small, retail or B2B, which is the promise to customers and tells them what they can expect from the products and services. (Lake, 2015) (Williams, 2014) Consistent, strategic branding leads to a strong brand equity, which means the added value brought to your company's products or services that allows you to charge more for your brand.

The product life cycle concept derives from the phases through which a product undergoes, from its introduction, to its growth in the market, to the maturity it attains in that market, to the very last stage of declination. The

For a product of your choice, discuss the characteristics of each stage of the product lifecycle and explain the marketing strategy you would implement.

Product life cycle refers to the stages that a product. Changes in demand for the product is the factor that delineates the changes from one cycle to another (Daft & Sanders, 2012). The typical product life cycle has four identifiable stages;

One thing that can make or break a company is its brand equity. Brand equity is the value that comes with the familiarity with a company’s branding and the feelings consumers have towards that brand (Brand Equity, n.d.). A company with strong brand equity usually gives consumers a sense of reliability and value; causing a higher inclination to purchase its products. It usually takes

Knowing the population in African market is not that affluent and most of the Africa is poor. The company expanded their product with low-cost branding for widening their customer's segmentation. The company came up with new low price product to suit African taste and pocket such as Jebel Gold and Orijin bitters (it a mix between herbs, fruit and alcohol, will low price ($2 per 750 ml)) (Evans,

The report explain the marketing plan for launching a fresh juice named Pep up This product has been made by the K.MANIA (PVT) Limited Company is improved from the ministry of health. In the beginning of the report we have explained the mission and vision of the K.MANIA (PVT) Limited Company. And then we have future carried out our. It will be introduce in the market with the help of various promotional display advertisements and distribution of fee samples to the general public and financial institution