Reference no: EM132422622 , Length: word count:-800

Check Your Understanding:

1. ________ is endowing products and services with the power of a brand.

2. ________ are those trademarked devices that serve to identify and differentiate the brand.

3. ________ is the act of designing the company's offering and image to occupy a distinctive place in the mind of the target market.

4. In a ________ pattern of the product life cycle, sales grow rapidly when the product is first introduced and then fall to a "petrified" level.

5. Firms that serve small markets not being served by larger firms are known as _________.

6. A(n) ________ attack can be directed along two strategic dimensions, geographic and segmented.

Exercises:

Question 1. Describe the functions a brand provides for the firm.

Question 2. What are the two basic approaches to measuring brand equity?

Question 3. What are the three key consumer desirability criteria for POD's (points-of-difference)?

Question 4. What are the four stages in the Product Life Cycle? Describe what happens at each stage.

Part 2: Case Study: 800 words minimum for Case Study Below:

When you hear the name James Dyson you may recall his famous Dyson cyclonic vacuum that came on the market a few years ago. What do you think his next invention will be?

Developing new products and managing them through the first several stages of the product life cycle can be a difficult and risky task. Inventor James Dyson learned how to manage an effective product life cycle through trial and error. His experiences have led him to believe that the time has come for an "effective and environmentally friendly" hand dryer for private and public restrooms. Though this seems a far cry from vacuums, Dyson's entrepreneurial skills have helped him to launch his new venture.