MGTA02H3 Lecture Notes - Brand Loyalty
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MGTA02H3 Full Course Notes
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The value package: product marketed as a bundle of value-adding attributes, including reasonable cost, example: get a certain brand of clothes, you get more than a way to keep warm, you get style self-expression. Life cycle model: products, technologies, industries like people have finite lives, they begin small and weak, the grow quickly, they mature, and decline, the model has two-dimensions, time. Can be measured several ways: weeks, months, years, decades. Som e products have very short lives: movies, fashions, technologies. Some product have very long lives: coffee bread, pencils: 4 stages, growth. Product or technology is brand new, little known, expensive, hard to find. Give me an example of product or technology that is relatively new but becoming better known, more popular, more available, sales rising. Competitors growing number: maturity , two) Product or technology is standard, everyone has one (or. Sales unlikely to grow much; little new product development; unlikely to be new market entrants; customers switching: decline.
