A company in the consumer electronics industry is experiencing a decline in its market share due to increasedcompetition and changing consumer preferences. The company's products, once popular, are now losing traction inthe market.Why should the company do PRODUCT INNOVATION AND DIFFERENTIATION?IntroBodyConclusionPlease give a real-life example

To stay successful in the modern, fiercely competitive consumer electronics market, businesses must…

Answered: A company in the consumer electronics…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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You have recently been hired by a cosmetics company in the productdevelopment group. The firm’s brand is a top-selling, high-end line ofcosmetics. The head of the development team has just presentedresearch that shows that “tween” girls, aged 11 to 15, are veryinterested in cosmetics and have the money to spend. The decision ismade to create a line of tween cosmetics based on the existing adultline. As the product moves through development you begin to noticethat the team seems to lean toward a very edgy and sexual theme forthe line, including naming the various lines “envy,” “desire,” “prowess,”and “fatal attraction.” You begin to wonder, is this concept too much forgirls in the targeted age group?
At which stage of the product life cycle (PLC) that will you find a significantly growing number of product adopters, rapid growth in industry sales, and increases in the significant number of competitors and the number of available product versions? decline early maturity innovation growth introduction
You have a "Cash Cow" Product Line based on the BCG Matrix assessment. The Product Line is in the "maturity stage" of its PLC with a large base of customers. Which of these investment strategies make the most sense? Stop investment and abandon the product line Inject significant profit from your "star" product to try and fuel growth and improve market-share Divert some profits from this "cash cow" product to try and save a "dog" product line in the "decline" stage of its PLC Invest in introducing product line and brand extensions for this "Cash Cow" product line as you further segment your target market
Read the following article. It discusses the critical marketing difference between features and benefits of a product. https://www.entrepreneurship.org/articles/2007/01/productservice-features-and-benefits 1. In your own words, describe the difference between a feature of a product and the benefit which a customer gets from a product. 2. Considering paint used by a homeowner: 1. Please describe 4 paint features you have found from looking at paint websites. 2. Please describe three benefits which are delivered by one of, or a combination of the features you described.
Disruptive Brand Plan: To follow up to the above solution: What is supposed to be a proposal for a disruptive strategy to help the company? What is the solid and clear disruption that provide some financial implications, and the target market section?
Apple and Google were once companies that provided innovative new features on music devices, smart phones, and tablets. However, customers now complain that new products do not offer as many few features with each new version. Pick one of these types of devices and provide 3 to 5 creative innovations that could help this product

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