Asses on how and why firms make adjustments to their brand strategies based on t
ID: 407867 • Letter: A
Question
Asses on how and why firms make adjustments to their brand strategies based on the life cycle of their products. Do technology based products not have finite lives? When they are in product development planning is the product’s life cycle a predetermined time frame? Or, do market conditions dictate the life of the product?
Respond to the following:
• Consider the statements “Brands cannot be expected to last forever” and “There is no reason for a brand to ever become obsolete.” Take a stand and justify one statement, supporting it with examples.
Explanation / Answer
Answer:
Technology based products does have finite life the major reason for this is constant change in technology that replaces the older one and making the earlier products obsolete.
Market conditions basically dictate the life of the product. But sometimes it is the technology that also creates the life expectancy of the product apart from its market behaviour.