BSM 200 Study Guide - Final Guide: Generic Brand, Dominate, Blackberry Playbook
11 Apr 2015
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Document Summary
Concept that describes stages through which product passes from its development to its death. Introduction: new product introduced to market; where all products begin, often a new category so it"s known by the class of product rather than by brand name, no/few competitors. Sales promotion is mostly directed at distribution network to entice distributors to carry the product and reduce perception of risk. Profits are nonexistent as any revenue earned is used to cover product promotion and r&d costs. Ipad 1st tablet, prius 1st hybrid car, kindle 1st e-reader; usually one version of a product is available. Feature: 1st product in a new category creates a new category; the brand name comes to stand for that category. E. g. tablet introduction of blackberry playbook, microsoft surface offered features the ipad didn"t; other versions of hybrid cars, other e-readers new entrants have features the first entrant didn"t, emphasize those features.
