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Product Strategy (Branding strategy (Has two parts: The brand name (words,…
Product Strategy
Branding strategy
Has two parts: The brand name (words, letters, numbers) and brand mark (symbols, figures or a design)
To be truly successful, should develop a brand that succinctly captures the product offering in a way that answers a question in the customers mind
Involves selecting the right combination of name, symbol, term, and/or design that identifies a specific product
Has many advantages, including making it easier for customers to find and buy products
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New Product Development
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New product lines (new offerings by the firm, but in established markets
Product line extensions (supplement to an existing product line with new styles, models, flavors or features)
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