BUSN 101 Chapter Notes - Chapter 14: Brand Management, Brand Awareness, Washing Machine
14 Apr 2016
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Value good quality at a fair price: best way to compete is to design and promote products with value, includes beneits minus cost. Ex: value meals when economy slows, trader joe"s providing valuable goods rather than sales. Need to adapt products to new compeiion and new markets. Handing of various parts of your innovaion process oten to companies in other countries. Collaboraing with many irms to make new products. Total product ofer everything consumers evaluate when deciding whether to buy something. Ex: basic product might be a washing machine, but the total product ofer includes some of the. Value enhancers : what you gain out of buying the product. Product line group of products that are physically similar or intended for a similar market: ex: coca cola ofers so many products. Product mix every product line that a company ofers. Use branding, pricing, adverising, and packaging to create a unique and atracive image.
