Extension Strategies

1. Improving the quality of the product

Cottonelle not only improved the softness and satisfaction of the product, they also changed the entire brand image, creating an image of extreme elegance.

2. Converting non-users

Ford  has featured ads in which they let a person use a Ford vehicle for a week for free to see if they would like to use it.

3. New Flavours and Scents

While Kit Kat has released flavours like Chunky, Peanut Butter and White Chocolate in North America, they are a lot more adventurous in Japan where they have flavours like Cheese, Aloe Vera and Gold. As well, they have region specific flavours.

4. Improved Style

A&W Restaurants have updated their style of restaurant in order to keep up with trends and styles over the years.

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Product Life Cycles

Fad

Tamagotchi is the one of the original virtual pet games. Created in Japan in 1996, they were wildly popular in North America from 1997-1999. Tamagotchis are still around, but have not been as popular since then. I think they were popular, because a lot of children can't have pets, so this was something they could have to make them feel like they were taking care of something. Also, as a video game, children might have liked the challenge of taking care of an animal, and the fun of the other features. It's been theorized the downfall in popularity was due to the gameplay of taking care of the animal, as if the animal is ignored for six hours, it dies. That lead to schools banning the devices, due to distractions.

Long Lasting Product

Arm and Hammer Baking Soda has been sold since 1867. It's lasted so long because there's so many uses for it, as well as the fact that Baking Soda is such a simple product, that it's always been needed and always will be needed. You can't invent something to replace it as it's a product that's completely pure. Also, Arm and Hammer is a pretty well known and trusted brand name, and when people buy baking soda, they're going to go with the one they know the best.
Tech Device

The Playstation 2 was the sequel to Sony's first game console and is the best selling game console of all time selling 153 million as of November 2011, being released in 2001. While the Playstation 3 was released in 2006, new games are still being released and Sony won't quit support until they stop. It's lasted such a long time because they were the first to introduce online gaming, and secured game exclusives from the start. Over time, it became a pretty cheap option compared to all the other consoles, so that if someone needed a cheap entertainment option quickly, the Playstation 2 has you covered.

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Luxury Brands- Ferrari

Ferrari is an Italian sports car company founded in 1929 by Enzo Ferrari. The company sells cars for street and consumer use, as well as Formula One racing, and others. The price ranges from $150,000-$350,000. They sell their products at specific dealers, as well as online. The target market is older adults, who are now able to afford a car such as this, and have been imagining exactly what they want. Many celebrities own a Ferrai, such as Kim Kardashian, Nicholas Cage and Tommy Hilfiger.

It appeals to me, because they are really cool cars. They are well made, and they have a really good reputation for being reliable. And who doesn't like to go really fast? People are willing to splurge because of the reputation, as well as the fact that they've probably worked hard all their life thinking of buying such a car and they want to reward themselves with the actual thing.

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Product Planning

Product Mix:

Product Line

Product Item

Product Depth: Compliments
Health
Thermometers
Allergy
Scissors
Vitamin Planners
Acetominaphin
Food:
Bakery
Baking Supplies
Beverages
Dairy
International
Lunch
Meals
Meats
Seafood
Snacks
Home and Garden
Air Fresheners
Laundry Detergents
Garbage Bags
Paper Towels
Bleach
Facial Care
Baby Food
Pet Food

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Google
Strengths
Has the designation of being the most popular search engine in the world
Most search results
Wide variety of features
Satisfied employees
Smart People
Free Products
Lots of money
Established in the lexicon
Available worldwide
Weaknesses
Controversies over privacy issues
Perceptions of a monopoly
Opportunities
Have the means to create any service they want
More software for the Android
Threats
Pressure from China
SOPA, PIPA and ACTA
Bing is trying to be better

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Mass Marketing vs. Niche Marketing

Mass Marketers

1. Tim Hortons

2. Old Navy

3. McDonald's

4. Chapters

5. Canadian Tire

6. The Bay

7. Coca Cola

8. PetroCanada

9. Toyota

10. Toshiba

Niche Marketing

1. Starbucks

2. Four Loko

3. Gamestop

4. Alienware

5. KFC

6. Long John Silver's

7. The Brick

8. Bath and Body Works

9. ESPN

10. Comic King

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Know your competitors

1. If I decided to make my own business, I would research my competitors by reading any articles I could find on them, business profiles are abundant. I would also buy their product or use their service, in order to get the experience of using it and know what I'm up against. Finally, I'd conduct surveys in order to know the market share.
2. You could look out for competitors by analysing the trends going on in your area.When a cost of a particular good is low, then it's possible people might want to get into business using that good. As well, if something becomes trendy, then people will want to provide those services.

3. Trade fairs are businesses who trade goods and services between each other, with no cash exchanged
4 1. Features
2. Providers
3. Battery Life
4. App Stores
5. Demographics
5. 1. Type of customers
2. Price
3. Advertising

1. Read this article and answer the questions below in a blog post titled ‘Know your competitors’.

a.     If you were going into business for yourself, describe 3 ways you would personally research your competitors.

b.     How could you look out for competitors that are not already in business?

c.      What do you think trade fairs are?

d.     List the top 5 things you think a tech business such as RIM (Blackberry) would need to know about their competitors.

e.     Describe 3 things you can learn about your competitors to make your business better.

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