Now a day in this competitive market, to gain profit the companies have two alternatives either introduce a product with a reasonable price or to have a product differentiation. Product differentiation is the best way in case the company does not want to reduce the price. It can be done in the following ways: Continue reading “Product differentiation”
Brand rejuvenation means the act of adding value to an existing brand by improving product features. In the advertisement the brand is rejuvenated by the words like, ‘new’, ‘extra’, ‘ultra’. For example, Lux becomes international Lux.
Sometimes brand do not get the success in the market. In that case companies sometime relaunch the brand with modified features. For example product “A” soap was initially failed in the market but then it was relaunched with a new name “new “A”.
The marketer has to make different decisions to popular a brand. These decisions are called brand strategy decisions. It includes following decisions: Continue reading “Brand strategy decision”
Most of the companies have their own marketing plan but they all follow a common set of components of marketing plan. These components of marketing plan are: Continue reading “Components of marketing plan”