REBRANDING A PRODUCT

Issues a company needs to focus on: Reducing Cost

Financial Issues Corporate Strategy Issues Market Research Operations Techniques

Product Design Changes Value Analysis (8 Steps) Corporate Strategy Issues

Life Cycle & Product Portfolio

Rebranding an Existing Product

Reducing Costs

Looks at existing costs within the company regarding the product Ulcercare. Look at the cost associated with each area of the product.

Cardboard Packaging - 33% Assembly/Packaging - 23% Glass Bottle/Cork - 17% Ulcer Fluid - 15% Cotton Buds - 10% Other - 2%

1. Financial Issues

Establish where the product fits within the market. Determine what stage of the Life Cycle – it is now at.Determine what stage it in now in, in the Product Portfolio Analysis.

2. Corporate Strategy Issues

Understand/Examine the Competitors and Compare with Ulcercare – reverse engineering

Establish Existing/Future Customer needs from Ulcercare by seeking customer/sales staff feedback

3. Market Research

Identify the most appropriate technique that could be used to reduce costs.

Value Analysis Standardisation

4. Operations Techniques

Product Design Changes

Current Design

Value Analysis

Step 1 – Identify ProductStep 2 – Gather InformationStep 3 – Analysis of the products

functionsStep 4 – Discussion/Brain-storming

Value Analysis Procedure

Step 5 – Assessing Proposed Ideas Step 6 – Decision Making Step 7 – Implementation Step 8 – Evaluation of results

Value Analysis Procedure

Corporate Strategy Issues

Ulcercare Lifecycle

Product Portfolio Analysis

1. Determine associated costs with rebranding a well known existing product

2. Analysis proposed design changes

3. Find your product market

Conclusion