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Gradually Changing the Package of a Product That Depends Heavily

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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 influencing forgetting allow this marketing strategy to work?


Definitions:

Ordinary Simple Interest

Interest calculated on the principal amount of a loan or investment based on a simple interest rate, without the compounding factor.

360-Day Year

An accounting approximation that treats all months as having 30 days, used in calculating interest with a simplified approach.

Ordinary Simple Interest

Interest calculated on the principal amount of a loan or deposit, based on a simple interest rate over a specified period.

360-Day Year

A simplified calculation method used in finance, assuming a year consists of 360 days for the purpose of interest calculation.

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