Tangible Product: Birkins and Chanel Handbags
A part of new product launch strategy includes creating the product or service name. Address these questions:
In general, how does the product name affect and interact with other new product launch concerns?
Birkin Handbags (made my Hermes) and Chanel handbags, whose names clearly reinforce the brand in the mind of customers? Explain what the brand image implies to the consumer.
What are the costs and benefits of using intellectual property protection mechanisms?
How does product naming and intellectual property protection help support the success of a product? Provide an analysis.
