Your SlideShare is downloading. ×
0
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Product & Branding
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Product & Branding

272

Published on

My Presentation is shows what is product and brand and Marketing in New Product Development.

My Presentation is shows what is product and brand and Marketing in New Product Development.

Published in: Education, Business, Design
0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total Views
272
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
0
Comments
0
Likes
1
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. Project Submitted on “Product Decisions and Marketing’s Role in New Product Development” By Sagar Sharma (Bachelor of Business Administration 3rd Year) 106/10 civil lines, Ajmer 305001 Website: www.dezyneecole.com
  • 2. Objectives • Categorize products by type and understand product mix decisions. • Discuss the importance of branding, packaging, and labeling. • Understand growth strategies. • Learn to evaluate product development success. • Identify the actives for product development success. • Learn methods for understanding customer needs.
  • 3. What is Product ? • Products are the set of features, functions, and benefits that customers purchase Consumer Products Convenience Shopping Specialty Unsought Business-to-Business Products Installations Accessories Raw Materials Component Parts/Materials Supplies Dr. Rosenbloom
  • 4. Product Mix Decisions • Product mix - all the products a company markets • Product mix width - the number of product lines a company markets • Product mix depth - the number of brands within each product line Dr. Rosenbloom
  • 5. Branding, Packaging, Labeling Decisions • Brands - used to simplify choices and reduce purchase risk for consumers • Brand equity - marketplace value of a brand based on reputation and goodwill Dr. Rosenbloom
  • 6. • Branding strategies • Individual brand name strategy • Proctor and Gamble, General Mills, etc.
  • 7. Branding, Packaging, Labeling Decisions • Branding strategies • Family brand name strategy • Coca-Cola, Fischer Price, etc. Dr. Rosenbloom
  • 8. Branding, Packaging, Labeling Decisions • Labeling helps customers by: • Identifying the manufacturer, country of origin, ingredients • Reporting expiration dates, content grading • Explaining product use • Warning about potential misuse • Providing care instructions • Serving as a communications link between the user, eventual buyers, and the company Dr. Rosenbloom
  • 9. Product Growth Opportunities Markets New New Products Existing Existing Market Penetration Product Development Dr. Rosenbloom Market Development Product Diversification
  • 10. Marketing in New Product Development • Successful product development: Uncover unmet needs and problems Develop competitively advantaged product Dr. Rosenbloom Shepherd products through a firm
  • 11. Marketing in New Product Development Uncover unmet needs and problems Shepherd products through a firm Develop competitively advantaged product Idea generation and screen Ideation Gate 1 go Stage 1 Gate 2 Stage 2 Gate 3 kill kill go recycle recycle Stage 3 Gate 4 go Stage 4 Gate 5 kill kill recycle go recycle kill recycle Dr. Rosenbloom go Stage 5 Review
  • 12. Marketing in New Product Development Uncover unmet needs and problems Shepherd products through a firm Develop competitively advantaged product Preliminary investigation Ideation Gate 1 go Stage 1 Gate 2 Stage 2 Gate 3 kill kill go recycle recycle Stage 3 Gate 4 go Stage 4 Gate 5 kill kill recycle go recycle kill recycle Dr. Rosenbloom go Stage 5 Review
  • 13. Marketing in New Product Development Uncover unmet needs and problems Shepherd products through a firm Develop competitively advantaged product Detailed investigation Ideation Gate 1 go Stage 1 Gate 2 Stage 2 Gate 3 kill kill go recycle recycle Stage 3 Gate 4 go Stage 4 Gate 5 kill kill recycle go recycle kill recycle Dr. Rosenbloom go Stage 5 Review
  • 14. Marketing in New Product Development Uncover unmet needs and problems Ideation Gate 1 go Stage 1 Gate 2 go Stage 2 Gate 3 kill kill go recycle recycle Stage 3 Gate 4 go Stage 4 Gate 5 kill kill recycle Shepherd products through a firm Develop competitively advantaged product recycle Development kill recycle Dr. Rosenbloom go Stage 5 Review
  • 15. Marketing in New Product Development Uncover unmet needs and problems Ideation Gate 1 go Stage 1 Gate 2 go Stage 2 Gate 3 kill kill go recycle recycle Stage 3 Gate 4 go Stage 4 Gate 5 kill kill recycle Shepherd products through a firm Develop competitively advantaged product recycle go Stage 5 kill recycle Testing and validation Dr. Rosenbloom Review
  • 16. Marketing in New Product Development Uncover unmet needs and problems Ideation Gate 1 go Stage 1 Gate 2 go Stage 2 Gate 3 kill kill go recycle recycle Stage 3 Gate 4 go Stage 4 Gate 5 kill kill recycle Shepherd products through a firm Develop competitively advantaged product recycle go Stage 5 Review kill recycle Dr. Rosenbloom Product launch
  • 17. Marketing in New Product Development Alternate Process Idea Generation Screening Business Analysis Development Testing Commercialization Sources of ideas: sales force customers competitors suppliers company personnel retailers wholesalers Dr. Rosenbloom
  • 18. Marketing in New Product Development Alternate Process Idea Generation Screening Business Analysis Development Testing Screening criteria: company objectives production capability marketing capability product risk product fit Commercialization Dr. Rosenbloom
  • 19. Marketing in New Product Development Alternate Process Idea Generation Screening Business Analysis Development Testing Business analysis assessment: financial budgets potential market growth rate Commercialization Dr. Rosenbloom
  • 20. Marketing in New Product Development Alternate Process Idea Generation Screening Business Analysis Development Testing Development activities: prototype feasibility testing preliminary market strategies Commercialization Dr. Rosenbloom
  • 21. Marketing in New Product Development Alternate Process Idea Generation Screening Business Analysis Development Testing Testing: consumer testing test marketing simulated test marketing Commercialization Dr. Rosenbloom
  • 22. Marketing in New Product Development Alternate Process Idea Generation Screening Business Analysis Development Testing Commercialization: full-scale production full-scale marketing integration into firm Commercialization Dr. Rosenbloom
  • 23. Marketing in New Product Development Uncover unmet needs and problems Develop competitively advantaged product Shepherd products through a firm • NPD project leadership • Project leaders - most frequent, appointed by upper management with formal power • Champions - unofficial, informally influence • Process owners - build and maintain expertise in NPD, may act in leadership roles as well Dr. Rosenbloom
  • 24. Product Life Cycle Product mode Price policy Place Promotion Profits Introduction New use skimming or penetration strategies rapidly building distribution network build general demand expected loses Growth Dr. Rosenbloom Maturity Decline
  • 25. Product mode Price policy Place Promotion Profits Introduction Differentiated products maintain stable pricing policy solidify distribution channels and network generate secondary demand start of profits Growth Dr. Rosenbloom Maturity Decline
  • 26. Product mode Price policy Place Promotion Profits Introduction Modify product or product usage price reduction increase distribution efforts concentrate on product Positioning highest profits (peak) Growth Dr. Rosenbloom Maturity Decline
  • 27. Product mode Price policy Place Promotion Profits Introduction Maintain a basic product maintain pricing or rise prices limit distribution efforts cut-back on advertising and sales promotions reduced profits Growth Dr. Rosenbloom Maturity Decline
  • 28. The Product Diffusion Process Innovators: First purchasers of a new product Venturesome, willing to accept risk, socially aggressive, communicative, and cosmopolitan 2.5% Innovators Early Adopters Early Majority Dr. Rosenbloom Late Majority Laggards
  • 29. The Product Diffusion Process Early Adopters: Are the next customers to buy new product Enjoy leadership, prestige, and respect that early purchases bring Tend to be opinion leaders Adapt new ideas but use discretion 13.5% Innovators Early Adopters Early Majority Dr. Rosenbloom Late Majority Laggards
  • 30. The Product Diffusion Process Early Majority: First part of mass market Outgoing, communicative, and attentive to information cues 34.0% Innovators Early Adopters Early Majority Dr. Rosenbloom Late Majority Laggards
  • 31. The Product Diffusion Process Late Majority: Second part of mass market Less cosmopolitan and responsive to change Include lower economic and social brackets, those past middle age, and skeptics 34.0% Innovators Early Adopters Early Majority Dr. Rosenbloom Late Majority Laggards
  • 32. The Product Diffusion Process Laggards: Last to purchase Price conscious, suspicious of change, low income and status, tradition bound, and conservative Often difficult to market to this small group 16.0% Innovators Early Adopters Early Majority Dr. Rosenbloom Late Majority Laggards
  • 33. Determinants of Rate-of-Adoption Relative Advantage Compatibility Complexity Triability Observability Dr. Rosenbloom The degree to which the innovation appears superior to previous ideas Directly related to adoption rates
  • 34. Determinants of Rate-of-Adoption The degree to which innovation is consistent with the values and experiences of potential adopters The higher, the faster the rate-ofadoption Relative Advantage Compatibility Complexity Triability Observability Dr. Rosenbloom
  • 35. Determinants of Rate-of-Adoption Relative Advantage Compatibility Complexity Triability Observability Dr. Rosenbloom The relative difficulty understanding the innovation In most cases, the more difficult, the longer it will take to gain general acceptance
  • 36. Determinants of Rate-of-Adoption Relative Advantage Compatibility Complexity Triability Observability Dr. Rosenbloom The degree to which the innovation can be tried on a limited basis First adopters face financial loss and ridicule from others lessened by limited trials
  • 37. Determinants of Rate-of-Adoption Relative Advantage Compatibility Complexity Triability Observability Dr. Rosenbloom The degree to which the results of using the product are observable to others Tangible superiority will increase the adoption rate
  • 38. Thank You

×