COMM 299 Lecture 7: MODULE 7
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Gain experience in your field as early as possible. Study the field your planning to enter thoroughly. Ha(cid:448)e a(cid:374) idea o(cid:396) a (cid:272)lea(cid:396) goal of (cid:449)he(cid:396)e you"d like to (cid:271)e i(cid:374) a fe(cid:449) yea(cid:396)s. Discontinuos/dramatic innovations: entirely new products that change customer behaviours. New product lines: products a company did not originally produce at first. Continuous product improvements: routine revisions of existing products. Repositioned products: existing products that are being targeted to a new market. Low-priced products: products that provide performance comparable to other competing products at a lower price. Value innovation: how can you innovate and give customers new value. How do you build brand equity: brand equity is the added value that a brand give to a product. Pe(cid:396)so(cid:374)al b(cid:396)a(cid:374)d"s value p(cid:396)opositio(cid:374): the u(cid:374)i(cid:395)ue p(cid:396)o(cid:373)ise to ta(cid:396)get (cid:272)usto(cid:373)e(cid:396)s: clear, focused on key benefits, tailored to targeted segment, compelling: should be strong enough to get a customer to act.