TOP 10 Learning Questions for<br />Chapter 20: Introducing New Market Offerings<br />Rosalia R. Reyes<br />September 23, 2...
1. The following are categories of new-product except _____________.<br />New-to-the-world<br />New product lines<br />Add...
Categories of new-product<br />New-to-the-world<br />Improvements<br />New product lines<br />Repositionings<br />Addition...
<ul><li>Range from new-to-the-world products that</li></ul>    create an entirely new market at one end.<br /><ul><li>Mino...
Revisions of existing products.
Brand extension of existing products.
Continuous innovation.</li></ul>4<br />New Product Categories.<br />leareyes.blogspot.com<br />
1. The following are categories of new-product except __________.<br />New-to-the-world<br />New-product line<br />Additio...
2. The new-product development start with the search for __________.<br />6<br />Need<br />Want<br />Idea<br />Improvement...
“IDEA” GENERATION<br />7<br />The new-product development process starts with the search  for ideas .<br /><ul><li>Greates...
7 WAYS TO DRAW IDEAS FROM CUSTOMERS<br />8<br />    leareyes.blogspot.com<br />
2. The new-product development start with  the search for _________.<br />9<br />Need<br />Want<br />Idea<br />Improvement...
3. One of the following is not a stage in new- product development process?<br />Idea generation<br />Idea screening<br />...
New Product Development Decision Process<br />11<br />     Idea Generation<br />Business Analysis<br />Product Development...
12<br />New-Product Development Process!<br /><ul><li>Idea Generation –is the idea worth considering?
Idea Screening –is the product idea compatible with   company objectives, strategies, and resources?
Conceptdevelopment and testing –can we find a good  concept consumers say they would try?
Marketing strategy development – can we find a cost-effective, affordable marketing strategy?
Business analysis– will this product meet our profit goal?
Product development – have we got a technically and commercially sound product?
Market testing – have product sales meet expectations?
Commercialization – are product sales meeting expectations? </li></ul>    leareyes.blogspot.com<br />
  3. One of the following is not a stage in  new –product development stage?<br />Idea generation<br />Idea screening<br /...
4. _______ is individual’s decision to become a regular user of a product?<br />Awareness<br />Interest<br />Evaluation<br...
The Consumer-Adoption Process<br />Adoption – is an individual’s decision to become a regular user of a product.<br />The ...
16<br />Stages in the Consumer-Adoption Process<br />Awareness<br />Interest<br />Evaluation<br />Adoption<br />Trial<br /...
17<br />Factors Influencing the Adoption Process<br /><ul><li>Readiness to try new-products</li></ul>Innovators<br />     ...
 Characteristics of the Innovation</li></ul>Relative Advantage<br />                  Compatibility<br />                 ...
4. _______ is individual’s decision to become a regular user of a product?<br />Awareness<br />Interest<br />Evaluation<br...
5. In commercialization of a new product, the firm time its entry to coincide with the competitor is called ____________ ?...
20<br />Timing Entry<br />First Entry<br />The first firm entering a market usually enjoy the<br />“first movers advantage...
21<br />Decisions for  Commercialization <br />Of New-Product<br /><ul><li>WHEN (Timing)
WHERE (Geographic Strategy)
TO WHOM (Target-Market Prospects)
HOW (Introductory Market Strategy </li></ul>    leareyes.blogspot.com<br />
5. In commercialization of a new product, the firm time its entry to coincide with the competitor entry is called _______?...
6. The following are true about decisions to be made in market testing except _________:<br />	a. Decide on how many citie...
24<br />Decisions to be made <br />in Market Testing<br />How many test cities?<br />Length of test?<br />Which cities?<br...
25<br />Decisions to be made in Market Testing<br /><ul><li>How many– most tests use two to six cities.
Which cities – develop a selection criteria.
 Length of test - tests last anywhere from a</li></ul>           few months to a year.<br /><ul><li>What information to co...
6. The following are true about decisions to be made in market testing except _________:<br />	a. Decide on how many citie...
27<br />Decisions to be made in Market Testing<br /><ul><li>How many– most tests use two to six cities.
Which cities – develop a selection criteria.
 Length of test - tests last anywhere from a</li></ul>           few months to a year.<br /><ul><li>What information to co...
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Chapter 20 introducing new market offerings reyes

  1. 1. TOP 10 Learning Questions for<br />Chapter 20: Introducing New Market Offerings<br />Rosalia R. Reyes<br />September 23, 2010<br />Marketing Management Class <br /> Prof. Remigio Joseph De Ungria<br /> leareyes.blogspot.com<br />leareyes.blogspot.com<br /> leareyes.blogspot.com<br />
  2. 2. 1. The following are categories of new-product except _____________.<br />New-to-the-world<br />New product lines<br />Additions<br />Improvements<br />Technology-driven<br />Repositionings<br />Cost reductions<br />2<br />leareyes.blogspot.com<br />
  3. 3. Categories of new-product<br />New-to-the-world<br />Improvements<br />New product lines<br />Repositionings<br />Additions<br />Cost reductions<br />leareyes.blogspot.com<br />3<br />
  4. 4. <ul><li>Range from new-to-the-world products that</li></ul> create an entirely new market at one end.<br /><ul><li>Minorimprovements.
  5. 5. Revisions of existing products.
  6. 6. Brand extension of existing products.
  7. 7. Continuous innovation.</li></ul>4<br />New Product Categories.<br />leareyes.blogspot.com<br />
  8. 8. 1. The following are categories of new-product except __________.<br />New-to-the-world<br />New-product line<br />Additions<br />Improvements<br />Technology-driven<br />Repositionings<br />Cost reductions<br />5<br /> leareyes.blogspot.com<br />
  9. 9. 2. The new-product development start with the search for __________.<br />6<br />Need<br />Want<br />Idea<br />Improvement<br />Addition<br /> leareyes.blogspot.com<br />
  10. 10. “IDEA” GENERATION<br />7<br />The new-product development process starts with the search for ideas .<br /><ul><li>Greatest opportunities and highest leverage with the new products are found by uncovering the best possible set of unmet customers needs or technological innovation. </li></ul> leareyes.blogspot.com<br />
  11. 11. 7 WAYS TO DRAW IDEAS FROM CUSTOMERS<br />8<br /> leareyes.blogspot.com<br />
  12. 12. 2. The new-product development start with the search for _________.<br />9<br />Need<br />Want<br />Idea<br />Improvement<br />Addition<br /> leareyes.blogspot.com<br />
  13. 13. 3. One of the following is not a stage in new- product development process?<br />Idea generation<br />Idea screening<br />Concept development and testing<br />Marketing strategy development<br />Business analysis<br />Adoption process<br />Product development<br />Market testing<br />Commercialization<br />10<br /> leareyes.blogspot.com<br />
  14. 14. New Product Development Decision Process<br />11<br /> Idea Generation<br />Business Analysis<br />Product Development<br />Idea Screening<br /> Marketing Testing<br />Concept Development and Testing<br /> leareyes.blogspot.com<br />Commercialization<br />
  15. 15. 12<br />New-Product Development Process!<br /><ul><li>Idea Generation –is the idea worth considering?
  16. 16. Idea Screening –is the product idea compatible with company objectives, strategies, and resources?
  17. 17. Conceptdevelopment and testing –can we find a good concept consumers say they would try?
  18. 18. Marketing strategy development – can we find a cost-effective, affordable marketing strategy?
  19. 19. Business analysis– will this product meet our profit goal?
  20. 20. Product development – have we got a technically and commercially sound product?
  21. 21. Market testing – have product sales meet expectations?
  22. 22. Commercialization – are product sales meeting expectations? </li></ul> leareyes.blogspot.com<br />
  23. 23. 3. One of the following is not a stage in new –product development stage?<br />Idea generation<br />Idea screening<br />Concept development and testing<br />Marketing strategy development<br />Business analysis<br />Adoption process<br />Product development<br />Market testing<br />Commercialization<br />13<br /> leareyes.blogspot.com<br />
  24. 24. 4. _______ is individual’s decision to become a regular user of a product?<br />Awareness<br />Interest<br />Evaluation<br />Trial<br />Adoption<br />14<br /> leareyes.blogspot.com<br />
  25. 25. The Consumer-Adoption Process<br />Adoption – is an individual’s decision to become a regular user of a product.<br />The consumer-adoption process is followed<br /> by the consumer-loyalty process.<br />After which, the adopters of new products move trough the 5 stages in adoption process.<br />An innovation is any good, service, or idea that someone perceives as new, no matter<br /> how long its history.<br />15<br /> leareyes.blogspot.com<br />
  26. 26. 16<br />Stages in the Consumer-Adoption Process<br />Awareness<br />Interest<br />Evaluation<br />Adoption<br />Trial<br /> leareyes.blogspot.com<br />
  27. 27. 17<br />Factors Influencing the Adoption Process<br /><ul><li>Readiness to try new-products</li></ul>Innovators<br /> Early adopters<br /> Early majority<br />Late majority<br /> Laggards<br /><ul><li>Personal influence
  28. 28. Characteristics of the Innovation</li></ul>Relative Advantage<br /> Compatibility<br /> Complexity<br /> Divisibility<br /> Communicability<br /> leareyes.blogspot.com<br />
  29. 29. 4. _______ is individual’s decision to become a regular user of a product?<br />Awareness<br />Interest<br />Evaluation<br />Trial<br />Adoption<br />18<br /> leareyes.blogspot.com<br />
  30. 30. 5. In commercialization of a new product, the firm time its entry to coincide with the competitor is called ____________ ?<br />First Entry<br />Parallel Entry<br />Late Entry<br />19<br /> leareyes.blogspot.com<br />
  31. 31. 20<br />Timing Entry<br />First Entry<br />The first firm entering a market usually enjoy the<br />“first movers advantages”.<br />The firm might time its<br />entry to coincide with the<br />competitor’s entry.<br />The firm might delay its launch until after the competitor has entered.<br />Parallel Entry<br />Late Entry<br /> leareyes.blogspot.com<br />
  32. 32. 21<br />Decisions for Commercialization <br />Of New-Product<br /><ul><li>WHEN (Timing)
  33. 33. WHERE (Geographic Strategy)
  34. 34. TO WHOM (Target-Market Prospects)
  35. 35. HOW (Introductory Market Strategy </li></ul> leareyes.blogspot.com<br />
  36. 36. 5. In commercialization of a new product, the firm time its entry to coincide with the competitor entry is called _______?<br />First Entry<br />Parallel Entry<br />Late Entry<br />22<br /> leareyes.blogspot.com<br />
  37. 37. 6. The following are true about decisions to be made in market testing except _________:<br /> a. Decide on how many cities to test?<br /> b. Decide on which cities to test?<br /> c. Decide on length of test? <br /> d. Decide on what information to collect?<br /> e. Decide on whom to test?<br /> f. Decide on what action to take?<br />23<br /> leareyes.blogspot.com<br />
  38. 38. 24<br />Decisions to be made <br />in Market Testing<br />How many test cities?<br />Length of test?<br />Which cities?<br />What information to collect?<br />What action to take?<br /> leareyes.blogspot.com<br />
  39. 39. 25<br />Decisions to be made in Market Testing<br /><ul><li>How many– most tests use two to six cities.
  40. 40. Which cities – develop a selection criteria.
  41. 41. Length of test - tests last anywhere from a</li></ul> few months to a year.<br /><ul><li>What information to collect – buyer surveys</li></ul> will yield in-depth information about consumer attitudes, usage, and satisfaction.<br /><ul><li>What action to take – the firm should decide </li></ul> if to launch, redesign, or drop the product.<br /> leareyes.blogspot.com<br />
  42. 42. 6. The following are true about decisions to be made in market testing except _________:<br /> a. Decide on how many cities to test?<br /> b. Decide on which cities to test?<br /> c. Decide on length of test? <br /> d. Decide on what information to collect?<br />e. Decide on whom to test?<br /> f. Decide on what action to take?<br />26<br /> leareyes.blogspot.com<br />
  43. 43. 27<br />Decisions to be made in Market Testing<br /><ul><li>How many– most tests use two to six cities.
  44. 44. Which cities – develop a selection criteria.
  45. 45. Length of test - tests last anywhere from a</li></ul> few months to a year.<br /><ul><li>What information to collect – buyer surveys</li></ul> will yield in-depth information about consumer attitudes, usage, and satisfaction.<br /><ul><li>What action to take – the firm should decide </li></ul> if to launch, redesign, or drop the product.<br /> leareyes.blogspot.com<br />
  46. 46. 7. One of the following is not a stage in the consumer adoption process ?<br /> a. Awareness<br /> b. Interest<br /> c. Evaluation<br /> d. Trial<br /> e. Testing<br /> f. Adoption<br />28<br /> leareyes.blogspot.com<br />
  47. 47. Adoption Process Stages<br />29<br /> leareyes.blogspot.com<br />
  48. 48. <ul><li>Awareness – aware of the innovation but lack information,
  49. 49. Interest – stimulated to seek information about innovation,
  50. 50. Evaluation - considers whether to try the
  51. 51. innovation,
  52. 52. Trial – tries the innovation,
  53. 53. Adoption – decides to make full and regular use of the information,</li></ul>30<br />Consumer-adoption process – mental steps through which<br />an individual passes from first hearing about an innovation <br />final adoption. <br /> leareyes.blogspot.com<br />
  54. 54. a. Awareness<br />b. Interest<br /> c. Evaluation<br /> d. Trial<br />e. Testing<br /> f. Adoption<br />31<br />7. One of the following is not a stage in the consumer adoption process ?<br /> leareyes.blogspot.com<br />
  55. 55. 8. Which of the following is true about concept development?<br /> a. A product idea is a possible product the company might offer to the market.<br /> b. Product concept is an elaborate version of the idea expressed in consumer terms.<br /> c. Each concept represents a category concept that defines the product’s competition.<br /> d. The product concept becomes a brand concept.<br /> e. Concept testing means representing the product concept, symbolically or physically, to target consumers and getting their reactions.<br /> f. All of the above<br />32<br /> leareyes.blogspot.com<br />
  56. 56. 33<br />What’s on the CONCEPT TESTING?<br /><ul><li>Product Idea – possible product that can be offer to the market,
  57. 57. Product Concept– elaborated version of the idea expressed in consumer terms,
  58. 58. Each concept represents a category concept
  59. 59. Category Concept - defines the product’s competition,
  60. 60. Product Concept– becomes a brand concept,
  61. 61. Concept testing – means presenting the product concept.</li></ul> leareyes.blogspot.com<br />
  62. 62. CONCEPT DEVELOPMENT AND TESTING<br />34<br />PRODUCT-POSITIONING MAP <br /> Expensive<br />Bacon and eggs<br /><ul><li>Cold Cereal</li></ul> Slow<br /> Quick<br /><ul><li> Pancakes
  63. 63. Hot cereal
  64. 64. Instant Breakfat</li></ul> Inexpensive<br />BREAKFAST MARKET <br /> leareyes.blogspot.com<br />
  65. 65. What’s on the CONCEPT TESTING?Consumers should respond to the ff:<br /><ul><li>Communicability and believability – are the benefits clear to you and believable?
  66. 66. Need level – do you see this product filling a need for you?
  67. 67. Gap level – do other products currently meet this need and satisfy you?
  68. 68. Perceived value – is the price reasonable in relationship to value?
  69. 69. Purchase intention – would you buy the product?
  70. 70. User targets, purchase occasions, purchasing</li></ul> frequency – who would use the product,when<br /> and how often?<br />35<br /> leareyes.blogspot.com<br />
  71. 71. 8. Which of the following is true about concept development?<br /> a. A product idea is a possible product the company might offer to market<br /> b. Product concept is an elaborated version of the idea expressed in consumer terms.<br /> c. Each concept represents a category concept that defines the product’s competition.<br />d. The product concept becomes a brand concept.<br />e. Concept testing means representing the product concept, symbolically or physically to target consumers and getting their reactions.<br /> f. All of the above<br />36<br /> leareyes.blogspot.com<br />
  72. 72. 9. Which is not a cause of new-product failure?<br /> a. Market/marketing failure<br /> b. Financial failure<br /> c. Timing failure<br /> d. Market size failure<br /> e. Technical failure<br /> f. Organizational failure<br /> g. Environmental failure<br />37<br /> leareyes.blogspot.com<br />
  73. 73. Causes of New-Product Failure<br />38<br />Market/Marketing failure<br />Technical failure<br />Financial failure<br />Organizational failure<br />Timing failure<br />Environmental failure<br /> leareyes.blogspot.com<br />
  74. 74. KEYS TO NEW-PRODUCT FAILURE<br /><ul><li>Market/marketing failure – small size of the potential market or no clear product differentiation.
  75. 75. Financial failure – low return on investment.
  76. 76. Timing failure – late in the market or “too” early.
  77. 77. Technical failure – product did not work
  78. 78. bad design.
  79. 79. Organizational failure – poor fit with the organizational culture
  80. 80. lack of organizational support
  81. 81. Environmental failure –government regulations</li></ul> macroeconomic factors<br />39<br /> leareyes.blogspot.com<br />
  82. 82. 9. Which is not a cause of new-product failure?<br />a. Market/marketing failure<br /> b. Financial failure<br /> c. Timing failure<br />d. Market size failure<br /> e. Technical failure<br /> f. Organizational failure<br /> g. Environmental failure <br />40<br /> leareyes.blogspot.com<br />
  83. 83. 10. Which statement is not true in Marketing Strategy Development?<br /> a. Marketing strategy is a three-part plan for introducing new-product in the market.<br /> b. Marketing strategy does not consider the target market’s size, structure, and behavior.<br /> c. Marketing strategy describes the long-run<br /> sales and profit goals.<br /> d. Marketing strategy should outline the planned price, distribution strategy, and marketing budget for the first year.<br /> e. None of the above<br />41<br /> leareyes.blogspot.com<br />
  84. 84. 42<br />THREE-PART PLAN MARKETING STRATEGY DEVELOPMENT<br />First Part<br />Describes the target market’s size, structure, and behavior.<br />Outlines the planned price, distribution strategy, and marketing budget for the first year.<br />Describes the long-run sales and profits goals and marketing-mix strategy over time.<br />Second Part<br />Third Part<br /> leareyes.blogspot.com<br /> leareyes.blogspot.com<br />
  85. 85. MARKETING STRATEGY DEVELOPMENT!<br />Marketing Strategy is a three-part plan for introducing new-product in the market.<br /> 1. After the company has segmented the market, chosen its target customers and identified their needs, next is to determine<br /> its desired marketing position.<br /> 2. After the concept test, comes the introduction of the new product into the market with the 3 part marketing plan.<br />43<br /> leareyes.blogspot.com<br />
  86. 86. a. Marketing strategy is a three-part plan for introducing new-product in the market.<br />b. Marketing strategy does not consider the target market’s size, structure, and behavior.<br /> c. Marketing strategy describes the long-run<br /> sales and profit goals.<br /> d. Marketing strategy should outline the planned price, distribution strategy, and marketing budget for the first year.<br /> e. None of the above<br />44<br />10. Which statement is not true in Marketing Strategy Development?<br /> leareyes.blogspot.com<br />
  87. 87. TOP 10 Learning Questions for<br />Chapter 20: Introducing New Market Offerings<br />Rosalia R. Reyes<br />September 23, 2010<br />Marketing Management Class <br /> Prof. Remigio Joseph De Ungria<br />

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