Article Abstract:
Careful marketing can help a company to extend its products initial life span throughout the product life cycle, and can position some products for a successful relaunch. Marketers should be aware of the market opportunities during a product or service's inception, should be ready to fine tune the product during it's initial growth stage, and should be prepared for the mature stage, when sales begin to erode and competition from other products or services increases. A decision whether to drop or to relaunch a product or service should be made during its decline stage.
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Article Abstract:
Frequency marketing has become a much more common marketing tool, as many companies have adopted programs that cater to preferred or repeat customers, but many of these programs fail to achieve, or even properly set, their goals. Reward systems must provide consumers with a substantive reward without creating too much of a financial burden. Many companies fail to properly target customer retention and fail to distinguish between loyal customers and repeat customers.
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Article Abstract:
Leading brands are vulnerable to brand genericide when they become too popular and the public views them as symbolic of the category itself, such as Kleenex becoming synonomous with all facial tissues. To avoid such problem, marketers should make sure their brands stand for something more than product benefits, which can be easily copied. A focus on a brand's core values helps a company build relationships with its customers.
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