Following the period of growth, a market will reach the maturity stage of its product life cycle. This means that there is limited growth – usually in line with the economy – left in the market. Sales have maximized and are unlikely, generally, to change significantly in the foreseeable future. In other words, the market […]
The Maturity Phase of the PLC Find Out More...
Are you looking to improve brand awareness? Find a list of over 40 tactical ideas to enhance the awareness of your brand.
How to Improve Brand Awareness Find Out More...
Understanding what is the difference between primary and secondary demand is helpful for identifying growth opportunities in marketing.
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This article details the formulas and calculations required to construct the BCG matrix, namely Relative Market Share and Market Growth Rate.
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In marketing, the word benefit refers to some advantage or positive outcome for the consumer. That is, the consumer is better off due to the consumption of the product.
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When a firm or brand strives to create and distribute a product that delivers utility for the end consumer, there are five types of different utilities that may be generated, these are: Form utility, Task utility, Time utility, Place utility, and Possession utility.
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Brand equity is a financial valuation of the firm’s brand contribution to profit.Most brand equity valuation firms – such as Millward Brown (as discussed in the link below) – look at brand equity on economic use basis.So what is an economic use basis?Economic use in the brand equity valuation is the proportion of extra profitability
Top 100 Brands in the World Find Out More...
When it comes to brand development, there are four main brand approaches, as shown in the following diagram.As you can see, this diagram is a matrix built around the two attributes of existing/new product category and existing/new brand name. This then determines one of the four boxes, namely:Product line extensionMulti-brandBrand extensionNew brandPlease note that the
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Selecting a brand nameOne of the key decisions when bringing a new product to market, particularly if it is going to be under the umbrella of a new brand, is the brand name selection.There are two approaches to brand name selection.The first approach is to have a brand name that is somehow reflective of the
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Definition of a brandA brand can be defined as a name, sign, logo, or design of a product/ service or a firm designed to identify ownership and to differentiate the offering in the marketplace.What are brand elements?Most products and/or firms will have some sort of brand identity materials. The elements of a brand may include:a
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