Select a brand that most are not so familiar with (e.g. avoid brands that are popular or in the news and social media constantly). What are the key product features or qualities that define the brand? Discuss the brands personality.
A brand is a type of product that is made by a manufacturer and is given a specific name. Another word, a brand is a specific product or service that offered by a specific source. There are millions brands out there and most are trademarked, such as Apple, Coca-Cola, Cisco, etc. (McLaughlin, 2011).
But one of the brands that many people may have not heard about is “BLU”. BLU is an innovative mobile device company that was founded in 2009. BLU designs and manufacturers attractive and affordable mobile phones with …show more content…
View the product life cycle below and provide an example of a product for each stage. For the product you selected in the growth stage, describe how you could improve it.
The sequence of a product’s life starting from introduction, then growth, followed by maturity, and decline is called product life cycle. Another word, product life cycle describes the evolution of product’s life in the marketplace (Product Life Cycle, 2016).
During the introduction stage, the company starts to build a product awareness and prepare the market for the product. The product is patented and the intellectual property is established. The price may be low for faster penetration or high to cover the cost of development. The place or distribution of the product will be finalized when the product is introduced, but marketing materials starts to create awareness among potential customers (Product Life Cycle, 2016).
For example, Google’s new modular phone is being introduced to potential customers through different channels and the new concept has already attract many people. Google’s modular phone allows customers to upgrade each module instead of replacing the entire phone. This will be similar to upgrading a PC’s processor, RAM, hard drive or even screen (Hollister, …show more content…
The prices drop and competitors may have a winner hand, if the product’s features are not enhanced.
Apple’s iPhone 6/6S sales have reached the maturity stage of its life cycle. iPhone 6 reached its maturity stage faster than any previous releases. In fact, iPhone 6S cycle was Apple’s first iPhone sales decline in its history. Apple needs to demonstrate a major upgrade in every phone it releases or the decline will fall further.
The decline stage is when sales and profits decline in the market and newer products are out. The company has not choice than adding new features and target different segments, or continue with sales to loyal niche segment, or simply discontinue the product entirely.
Microsoft Windows Phone was one of the late comers to the mobile race but unfortunately it could not compete. According to some reports, Windows phone is official dying! It will not be very cost effective for Microsoft to continue the battle while it has already lost the battle. Most companies, including several banks, stopped writing Apps for Windows Mobile (Ted,
A brand is a type of product that is made by a manufacturer and is given a specific name. Another word, a brand is a specific product or service that offered by a specific source. There are millions brands out there and most are trademarked, such as Apple, Coca-Cola, Cisco, etc. (McLaughlin, 2011).
But one of the brands that many people may have not heard about is “BLU”. BLU is an innovative mobile device company that was founded in 2009. BLU designs and manufacturers attractive and affordable mobile phones with …show more content…
View the product life cycle below and provide an example of a product for each stage. For the product you selected in the growth stage, describe how you could improve it.
The sequence of a product’s life starting from introduction, then growth, followed by maturity, and decline is called product life cycle. Another word, product life cycle describes the evolution of product’s life in the marketplace (Product Life Cycle, 2016).
During the introduction stage, the company starts to build a product awareness and prepare the market for the product. The product is patented and the intellectual property is established. The price may be low for faster penetration or high to cover the cost of development. The place or distribution of the product will be finalized when the product is introduced, but marketing materials starts to create awareness among potential customers (Product Life Cycle, 2016).
For example, Google’s new modular phone is being introduced to potential customers through different channels and the new concept has already attract many people. Google’s modular phone allows customers to upgrade each module instead of replacing the entire phone. This will be similar to upgrading a PC’s processor, RAM, hard drive or even screen (Hollister, …show more content…
The prices drop and competitors may have a winner hand, if the product’s features are not enhanced.
Apple’s iPhone 6/6S sales have reached the maturity stage of its life cycle. iPhone 6 reached its maturity stage faster than any previous releases. In fact, iPhone 6S cycle was Apple’s first iPhone sales decline in its history. Apple needs to demonstrate a major upgrade in every phone it releases or the decline will fall further.
The decline stage is when sales and profits decline in the market and newer products are out. The company has not choice than adding new features and target different segments, or continue with sales to loyal niche segment, or simply discontinue the product entirely.
Microsoft Windows Phone was one of the late comers to the mobile race but unfortunately it could not compete. According to some reports, Windows phone is official dying! It will not be very cost effective for Microsoft to continue the battle while it has already lost the battle. Most companies, including several banks, stopped writing Apps for Windows Mobile (Ted,