ECON344 Lecture Notes - Lecture 15: Brand Management, Cash Cow, Brand Equity
28 Jun 2017
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Is for the product category, not individual brand. 2: shape: whether it will follow the bell curve (max sales/top of curve) Form: variations of a product within the class. 4: consumer interaction: how involved a customer needs to be influenced shape and length. A: high learning: introduction takes a long time since the customers are trying to figure out how to use it. B: low learning: inverted u low value & price, easy to understand, low involvement. C: fashion: can make a comeback after some time. D: fad: high profits in the introduction but dies before growth. 1: innovators: 2. 5, multiple information sources, more educated. 2: early adopters: 13. 5, social leaders, above average education. 3: early majority: 34, informal social contacts, deliberate. 5: laggard: 16, fear of debt, limited information sources. 1: communication: connecting with customers (attractive, attention), avoid gendered product colouring. 2: function: cost reduction (by 1 colour), health/safety/security regulations, convenience, storage, protection.
