AFTER READING THIS CHAPTER YOU SHOULD BE ABLE TO:

Explain the product life cycle concept and relate a marketing strategy to each stage.

Recognize the differences in product life cycles for various products and their implications for marketing decisions.

Understand alternative approaches to managing a product’s life cycle.

Describe elements of brand personality and brand equity and the criteria used when selecting a good brand name.

Explain the rationale for alternative branding strategies employed by companies.

Understand the role of packaging, labelling, and warranties in the marketing of a product.