GMS 400 Lecture Notes - Lecture 4: Cheeseburger, Cash Flow, Poutine

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 400
• Professor: Omid Jadidi

Document Summary

Developing new products or modifying existing products so they appear new, and offering those products to current or new markets. An effective product strategy links product decisions with: It requires a creative marketing and communications plan. A new product us developed for a new market when: And/or revenues and profits are stagnant or falling. There is little or no opportunity for growth. It is generally aimed at existing markets, although a side benefit may be the capturing of new users for the new product. Revolutionary products are those for which there was no real prior need. Before these products appeared on the market, consumers did not know they needed them. Mcdonalds features several products (such as cheeseburger and the. Bigmac) on their menu that are permanent and do not change. This strategy ensures that there is always something familiar for. Mcdonald"s regularly develops temporary products (the mcrib and. The purpose is (1) to give customers something new to experience on.