BUSI 1210 Chapter Notes - Chapter 9: Product Classification, Intangibility, Brand Equity
2 Dec 2016
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Quality levels: features, design elements, a brand name. Frequently consumed, low in value, little (if any) comparison shopping, widely distributed. Customers compare brands (shop around), benefits gained from shopping around, Brand name is important, high(er) in price, narrower target market (high end designer brands) Note: retail stores can be classified in a similar manner as retail products. Expand: as the name implies involves adding products to the portfolio that are consistent with current positioning. Contract: involves deleting products from the portfolio in a manner that does not detract from the current product mix. Trading up & down: typically involves subtle changes to the brand in an effort to attract a larger customer base without losing any existing customers. Think back to chapter 2: strategies for growth and the bcg matrix these are connecting pieces where product portfolio analysis and market strategy decisions collide.
