Risks of new-to-the-world products

Marketing Strategy, New Product Process, Product Mix / By

 New-to-the-world products are one of several classifications of new products (please see separate article). Other classifications of new products include: new categories, product line extensions, product improvements and product repositioning.Risks of new-to-the-world productsAlthough there are many potential advantages, as outlined above, for introducing a new-to-the-world product, this type of product carries significant risk and responsibility […]

Risks of new-to-the-world products Find Out More...

Challenges of a New Category Entry

New Product Process, Product Mix / By

 A new category product is one of several classifications of new products (please see separate article). Other classifications of new products include: new-to-the-world products, product line extensions, product improvements and product repositioning.When a firm introduces a new type of product to the firm, which is an established product in the marketplace, this is known as

Challenges of a New Category Entry Find Out More...

Challenges of a product line extension

New Product Process, Product Mix / By

 The challenges of a product line extension include:Potential product cannibalizationMinor increases in sales volumeCluttering or confusing the marketLess efficiency of production and marketingUnresponsive retail channelsPotential product cannibalizationProbably the main concern with a product line extension, particularly for a simple variation of an existing brand/product – such as a flavor or size variation – is cannibalization

Challenges of a product line extension Find Out More...

Difference between coupons and rebates

Pricing, Promotion - Sales Promotion and Direct / By

 Sales promotions are short-term incentives designed to drive sales. They are part of the promotional mix within the marketing 4P’s. Because they often carry pricing incentives, such as discounts, they also have a crossover with the pricing mix in the 4P’s as well.Sales promotions are usually executed through retailers, but service firms and other direct

Difference between coupons and rebates Find Out More...

Challenges of product repositioning

New Product Process, Positioning / By

 In the classification of new products, product repositioning is considered to be a new product task. There are a numerous challenges and benefits associated with product repositioning as discussed in the following article. Please refer to a separate article for the benefits of repositioning, as well as an example of repositioning.What is product repositioning?Product repositioning

Challenges of product repositioning Find Out More...

How has the concept of integrated marketing communication evolved?

Marketing Environment, Promotion Concepts / By

 Let’s evaluate the key differences between the evolving IMC definitions to understand how the perception and role of integrated marketing communications has progressed.Broader than just consumersThe audience is much broader than just consumers. While communicating to consumers obviously remains very important and probably the focus of communication for most firms – firms also need to

How has the concept of integrated marketing communication evolved? Find Out More...

Scroll to Top