Week 6 Flashcards
explain the value of branding:
branding is to differentiate products from competitors. recognisable brand names, brand marks, trade marks, and slogans are important to gain interest.
Importance of packaging:
Designed to attract consumers attention
Brand recognition
Helps quickly communicate product benefits
Why is constant new product development increasingly important?
rapid changes in technology
changing consumer lifestyles and values
increasing global competition
What is the Product Life Cycle (PLC) :
- Product development
- Introduction
- Growth
- Maturity
- Decline
product replacements:
improvements to existing products
additions to existing lines:
adding to companies existing line of products
new project lines
represent a move into new market
new to the world products:
create entirely new markets
product mix:
is the set of all product lines and items that a particular seller offers for sale
Direct marketing:
Any direct commutation or distribution to a consumer/business that is designed to generate a response
Digital marketing:
Marketing offering and building customer relationships over digital network
Digital marketing objectives 5S’s:
1.Sell
2. Serve
3. Speak
4. Save
5. Sizzle
