What is brand repositioning?

Q: Do brands need to create separate products and marketing programs for each generation?

A: Different generations have different tastes and preferences according to their age. One person may…

Q: What is a personal brand? How do you buid a personal brand? What should you do in order to build a…

A: * Introduction - Building a new brand is basically starting from a scratch and building a whole…

Q: Why change product mix breadth?

A: It refers to all product line range of products across the retail chain encompassing varied product…

Q: how would such costs and benefits be different over the product life cycle"

A: The cost and benefits are different over the product life cycle as:

Product and Service Innovation

Product innovation is the introduction of either a new product or an existing product with significant improvements related to its characteristics. Improvements could be in various specifications and areas such as technical, technological, physical use, software updates, overall size and texture, and so on. For instance, consider the Apple Watch; they release different series every year with significant updates and improvements such as using cellular technology, monitoring your heart rate, acting as your fitness partner, measuring blood oxygen level, and so on. We see the addition of features in every series, and these improvements make them a different product altogether.