Product Marketing: Life Cycle, Branding, Pricing & Distribution
Product Marketing
Item 1: Product Definition
From a marketing perspective, a product is defined as a set of characteristics perceived by consumers that are expected to satisfy certain desires and needs. This includes both physical or tangible assets and services, although their characteristics differ significantly.
Product Life Cycle
Introduction
The product enters the market with slow sales growth and minimal, often negative, profit. The focus is on acquiring new customers through advertising and investment.
Business Information Systems: Types, Functions, and Challenges
INTEGRATION
Design of various systems that give service to different levels and functions within the company. This integration is difficult and expensive, so managers need to determine the required levels of integration and associated costs.
Amplification: The Business of Management Thinking
Business systems investments are huge and should be developed for long periods. They should be guided by a shared vision of the objectives.
Main Types of Systems in the Organization
- Executive Support Systems (ESS)
Business Planning and Financing
What is a Business Plan?
A Business Plan is a written document that details a proposed venture: it describes the current status, expected needs, and projected results of a new business. It covers the project’s research and development, manufacturing, management, marketing, critical risks, financing, and milestones or timetable. It demonstrates a road map of where the venture is aimed to reach and how the entrepreneur proposes the route it will reach.
Sections of a Business Plan:
Sec 1: Executive
Read MoreInternational Trade: A Comprehensive Guide to Comparative Advantage and New Trade Theory
Causes of World Trade Growth
Decline in Transport Costs
Technological Progress
Decrease in Trade Restrictions
The Benefits of Global Free Trade
1. Absolute Advantage
– A country has an absolute advantage over others when it can produce more goods with the same amount of resources. For example, Saudi Arabia has an absolute advantage over many countries in oil production.
– Countries benefit when they export goods in which they have an absolute advantage and import goods in which they have an absolute disadvantage.
Read MoreBrand and Firm Associations: Key Factors and Value Creation
1.6. Brand or Firm Associations
Brand Value (BV) is a difficult key factor to measure in an economic way. This indicator directly reflects a ‘differentiation’ strategy built in the long term by Pull and Push actions, between direct competitors. So this is an intangible factor that directly affects company or business consideration by consumers. Two direct competitor companies can operate in the same business but be considered so differently by the consumer that it necessitates different positioning
Read MoreUnderstanding Financial Crises, Regulations & Market Structures
Financial Crises Reasons
1. Consumer Misjudgment
Complexity was often mistaken for sophistication, leading consumers to believe their investments and deposits were inherently safe.
2. Increased Leverage by Financial Firms
Managers, driven by shareholder returns and the pursuit of higher ROE (Return on Equity), often took on excessive risk.
3. Risk-Taking Incentivized
Compensation schemes for senior managers often rewarded short-term gains, even if those strategies carried long-term risks.