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Date Added: May 17, 2012 01:49:17 PM
Author: shruthi
Companies also must assess risk versus reward when branding a product upgrade. On the one hand, changing the brand name may induce excitement among prospective consumers who value new bells and whistles over small improvements. On the other hand, customers may worry that new features pose the risk of new glitches and a steep learning curve. It's important for a firm to predict the likelihood of risk aversion in its branding decision. Sometimes this is an unpredictable matter of a consumer's individual personality; for every Cautious Carl in the world, there's a Risky Rita. But many times, it's a matter of the situation at hand. All the participants received the same list of specs for both the old and the new cameras, including information on features such as resolution, memory, zoom, and motion sensor. But the researchers manipulated the experiment in two key ways. In some cases, participants were told that they were among several people taking pictures at the wedding, indicating a low-risk situation because if one person's photos came out badly, another person's photos could pick up the slack. A brand name change also comes with the risk of disappointing consumers who expect more from the product than they otherwise would have. "If you're really just tweaking the previous generation of your product, it's probably much better to use brand name continuation than brand name change," Gourville says. "Otherwise people will be led to believe that there are massively new features in there, and you'll just lead them to disappointment." On the other hand, a brand sequencing approach can be tricky in a crowded marketplace where competitors are using the same approach. No company wants to release Doodad 3 when its chief rival is launching Thingamabob 4, for fear of apparently lagging behind. The continuous growth in technology and cheapness in mobile phone have caused the emergence of Mobile application Development. As the high-end mobile phones are available in affordable prices, almost all people across the globe like to get the benefits of these. As the latest models in high-end mobile phones encompass more features, the acceptance of them is more than the older. Keeping pace with this trend, the growth and advancement in mobile application development is becoming faster and easier. Nowadays, it can help man in their different activities and solving various problems starting from a simple personal problem to a complex business problem. After the successful introduction of mobile operating system (SDK by Apple), mobile phone emerged as the strong platform of the business class people for promoting their business with the best use of it. Now thousands of mobile applications are available in the market to meet different needs and specific requirements.
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