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    Managing Existing Products

    Uploaded by

    Arnun Kumar Sahu
    This document discusses strategies for managing existing products, including line extensions which focus on similar segments at a lower cost, product modifications to better meet customer needs such as quality or functional changes, and differentiating products through quality, design, support services, and branding to gain competitive advantages.

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    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd

    Managing Existing Products

    Uploaded by

    Arnun Kumar Sahu
    15 views4 pages
    This document discusses strategies for managing existing products, including line extensions which focus on similar segments at a lower cost, product modifications to better meet customer needs such as quality or functional changes, and differentiating products through quality, design, support services, and branding to gain competitive advantages.

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    © Attribution Non-Commercial (BY-NC)

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    PPTX, PDF, TXT or read online from Scribd

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    This document discusses strategies for managing existing products, including line extensions which focus on similar segments at a lower cost, product modifications to better meet customer needs such as quality or functional changes, and differentiating products through quality, design, support services, and branding to gain competitive advantages.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    15 views4 pages

    Managing Existing Products

    Uploaded by

    Arnun Kumar Sahu
    This document discusses strategies for managing existing products, including line extensions which focus on similar segments at a lower cost, product modifications to better meet customer needs such as quality or functional changes, and differentiating products through quality, design, support services, and branding to gain competitive advantages.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 4

    Managing

    Existing
    Products

    Line Extension
    • Is a less expensive, low risk
    alternative
    • May focus on the same or a new
    segment
    • Can be used to counter
    competing products
    – Many “new products” are
    really line extensions.
    Managing Existing
    Products (cont’d)

    Product Modifications
    • Product must be modifiable.
    • Customer must be able to perceive
    modification has been made.
    • Modified product more closely
    satisfies customers’ needs.

    Quality Modifications

    • Reducing quality to offer a lower price to customers


    • Increasing quality to gain a competitive advantage
    Product
    Modifications
    (cont’d)

    Functional Modifications
    – Changes affecting a product’s versatility,
    effectiveness, convenience, or safety; usually
    requiring redesign of the product

    Aesthetic Modifications

    – Changes to the sensory appeal of a product such


    as altering taste, texture, sound, smell, or
    appearance
    Product
    Differentiation

    • Product Quality

    • Product Design and Features

    • Product Support Services


    (e.g., Customer services)

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