1 min read · 101 words
Product layers, mixes and the product life cycle: strategy changes by stage.
Product architecture
- Three layers: core benefit, actual product, augmented product; product-mix width-length-depth-consistency.
- Brand decisions: brand equity elements; packaging and labelling as silent salesmen.
PLC stages and strategy
- Introduction: skimming vs penetration pricing, awareness promotion.
- Growth: distribution expansion, product variants; maturity: differentiation, market modification, promotion budgets peak.
- Decline: harvest, divest or reposition decisions; PLC applies to styles-fashions-fads differently.
New product development
- Idea generation → screening → concept testing → business analysis → development → test marketing → commercialisation.
Revise in 30 seconds
- Three product layers.
- Maturity = promotion budget peak.
- Skimming vs penetration at launch.
- NPD: 7-step funnel.
Quick revision
- Three layers: core benefit, actual product, augmented product; product-mix width-length-depth-consistency.
- Brand decisions: brand equity elements; packaging and labelling as silent salesmen.
- Introduction: skimming vs penetration pricing, awareness promotion.
- Growth: distribution expansion, product variants; maturity: differentiation, market modification, promotion budgets peak.
- Decline: harvest, divest or reposition decisions; PLC applies to styles-fashions-fads differently.
- Idea generation → screening → concept testing → business analysis → development → test marketing → commercialisation.