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Assignment b2b

Assignment b2b

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Published by Sai Ganesh

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Published by: Sai Ganesh on Jul 08, 2012
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05/13/2014

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2. Explain factors that influence changes in product strategy:
There are mainly four factors which have major effect on product strategy.Namely,
 
Customer needs
 
Technology
 
Government policies/Laws
 
Product life cycleCustomer needs: products are made to satisfy certain needs and wants of customers to survive and sustain its competitive edge. A business firm mustcontinuously respond to changing customer needs by making changes to productofferings. Needs keep on changing based on environment in which customersoperate. So
it’s very
important for a business firm to keep a close watch on allthese factors.Technology: changes in technology can either require product modifications ormake products obsolete. For eg.jelly filled telecom cables or replaced by fibercablesGovernment policies/laws: the changes in govt policies and laws can have effecton product strategy. For e.g.: liberalization in 1991 compelled firms to makechanges in product strategy as many players emerged and competition becamefierce.PLC: In order to maintain growth in sales and profits, industrial firms decide todrop or modify or develop new products when existing product reach maturity ordecline stage. Foe each stage of the product life cycle strategy keeps on changing

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