Gradually Changing the Package of a Product That Depends Heavily

question 60

Essay

Gradually changing the package of a product that depends heavily on brand loyalty can be successful if each change is minor. Over the course of a year or more the package may change totally in appearance without offending or confusing brand loyal customers. What factors contribute to forgetting to allow this marketing strategy?

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Definitions:

Intellectual Property

Legal rights protecting creations of the mind, such as inventions, literary and artistic works, designs, and symbols.

Political Risks

Political risks are the probability of losses to a business, investment, or operation due to political instability, changes in government policy, or hostile actions by the government.

Contractual Relationship

A legally binding agreement between two or more parties, outlining their responsibilities and obligations.

Intellectual Property

The legal rights given to inventors and creators to protect their original works, inventions, and ideas for a certain period.