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Top 10 Learning Questions for Chapter 20 of Marketing Management 13th edition by Philip Kotler and Kevin Lane Keller

Top 10 Learning Questions for Chapter 20 of Marketing Management 13th edition by Philip Kotler and Kevin Lane Keller

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    Top 10 Learning Questions for Chapter 20 of Marketing Management 13th edition Top 10 Learning Questions for Chapter 20 of Marketing Management 13th edition Presentation Transcript

    • TOP 10 Learning Questions for Chapter 20 Introducing New Market Offerings Louie Mark Quizon April 15, 2011 http://louiemarkquizon.blogspot.com
    • Questions To Concepts
      • Keep Developing New Products
      • Stimulate Creativity in Individuals and Groups
      • Stimulate Creativity in Individuals and Groups
      • Satisfy New or Different Needs
      • How Can New Products Fail?
      • Management Decisions for Test Marketing
      http://louiemarkquizon.blogspot.com
      • Consumer Adoption Process
      • How Adopters are Categorized
      • How Adopters are Categorized
      • What features distinguishes an innovation?
      Questions To Concepts http://louiemarkquizon.blogspot.com
    • Questions To Concepts
      • Keep Developing New Products
      • Stimulate Creativity in Individuals and Groups
      • Stimulate Creativity in Individuals and Groups
      • Satisfy New or Different Needs
      • How Can New Products Fail?
      • Management Decisions for Test Marketing
      http://louiemarkquizon.blogspot.com
    • 1. Relative to its established products like Explosive Menthol Red and Outrageous Blue Chill, Hapee Toothpaste’s GumTect is an example of ___________
      • New to the world product
      • New product line
      • Improved product
      • Addition to existing product lines
      • Repositioned product
      http://louiemarkquizon.blogspot.com
    • New-to-the-world New product lines http://louiemarkquizon.blogspot.com Keep Developing New Products
    • New-to-the-world New product lines http://louiemarkquizon.blogspot.com New products that create an entirely new market
    • New-to-the-world New product lines http://louiemarkquizon.blogspot.com New products that allow a company to enter an established market for the first time
    • Additions Improvements http://louiemarkquizon.blogspot.com New products that supplement established product lines
    • Additions Improvements http://louiemarkquizon.blogspot.com Provide improved performance or greater perceived value and replace existing products
    • Repositionings Cost Reductions http://louiemarkquizon.blogspot.com Products that are targeted to new markets or market segments
    • Repositionings Cost Reductions http://louiemarkquizon.blogspot.com New products that provide similar performance at a lower cost
    • http://louiemarkquizon.blogspot.com Established product lines of Hapee Example: Hapee Toothpaste
    • http://louiemarkquizon.blogspot.com Additional to existing product lines Supplements a company’s existing product lines Example: Hapee Toothpaste
    • 1. Relative to its established products like Explosive Menthol Red and Outrageous Blue Chill, Hapee Toothpaste’s GumTect is an example of ___________
      • New to the world product
      • New product line
      • Improved product
      • Addition to existing product lines
      • Repositioned product
      http://louiemarkquizon.blogspot.com
    • Questions To Concepts
      • Keep Developing New Products
      • Stimulate Creativity in Individuals and Groups
      • Stimulate Creativity in Individuals and Groups
      • Satisfy New or Different Needs
      • How Can New Products Fail?
      • Management Decisions for Test Marketing
      http://louiemarkquizon.blogspot.com
    • 2. A clothing company’s process of letting its customers choose what designs to sell instead of the familiar process of company designers choosing what to sell is an example of what creativity technique?
      • New contexts
      • Reverse assumption analysis
      • Forced relationships
      • Mind mapping
      • Morphological analysis
      http://louiemarkquizon.blogspot.com
    • 3. Which of the following statements in creativity techniques is false?
      • In attribute listing, list first the attributes of an object and then modify
      • In forced relationships, list several ideas and consider each one in relation to another.
      • In morphological analysis, many solutions can be generated by the combination of ideas
      • In reverse assumption analysis, take a familiar concept and put it in a new context
      • In mind mapping, you should create associations with each new idea
      http://louiemarkquizon.blogspot.com
    • Stimulate Creativity in Individuals and Groups! http://louiemarkquizon.blogspot.com
    • Stimulate Creativity in Individuals and Groups! http://louiemarkquizon.blogspot.com
    • Example: TeamManila’s Creativity Generation – New Context http://louiemarkquizon.blogspot.com
      • Familiar Process:
        • Company designers choose designs to sell
      • New Context:
        • Customers choose what designs to sell
    • 2. A clothing company’s process of letting its customers choose what designs to sell instead of the familiar process of company designers choosing what to sell is an example of what Creativity technique?
      • New contexts
      • Reverse assumption analysis
      • Forced relationships
      • Mind mapping
      • Morphological analysis
      http://louiemarkquizon.blogspot.com
    • 3. Which of the following statements in creativity techniques is false?
      • In attribute listing, list first the attributes of an object and then modify
      • In forced relationships, list several ideas and consider each one in relation to another.
      • In morphological analysis, many solutions can be generated by the combination of ideas
      • In reverse assumption analysis, take a familiar concept and put it in a new context
      • In mind mapping, you should create associations with each new idea
      http://louiemarkquizon.blogspot.com
    • Questions To Concepts
      • Keep Developing New Products
      • Stimulate Creativity in Individuals and Groups
      • Stimulate Creativity in Individuals and Groups
      • Satisfy New or Different Needs
      • How Can New Products Fail?
      • Management Decisions for Test Marketing
      http://louiemarkquizon.blogspot.com
      • Vertical
      • Lateral
      • Diagonal
      • Both A and B
      • None
      http://louiemarkquizon.blogspot.com 4. A Shell gas station with a Shell Select store is an example of _________ marketing?
    • Gas Station Transform a Product to Satisfy New or Different Needs through Lateral Marketing! http://louiemarkquizon.blogspot.com Cafeteria Cereal Candy Audio
    • Gas Station Food Lateral marketing combines two product concepts or ideas to create a new offering. http://louiemarkquizon.blogspot.com Cafeteria Internet Cereal Snacking Candy Toy Audio Portable
    • Shell Gas Station Food http://louiemarkquizon.blogspot.com Example: Shell and Shell Select Store
    • Shell Gas Station with Select Store http://louiemarkquizon.blogspot.com Example: Shell and Shell Select Store
      • Vertical
      • Lateral
      • Diagonal
      • Both A and B
      • None
      http://louiemarkquizon.blogspot.com 4. A Shell gas station with a Shell Select store is an example of _________ marketing?
    • Questions To Concepts
      • Keep Developing New Products
      • Stimulate Creativity in Individuals and Groups
      • Stimulate Creativity in Individuals and Groups
      • Satisfy New or Different Needs
      • How Can New Products Fail?
      • Management Decisions for Test Marketing
      http://louiemarkquizon.blogspot.com
    • 5. The Bataan Nuclear Power Plant is considered a new source of electricity in the Philippines. Its non-operation status is attributed to a stagnant House Bill. What type of hindrance is this to new-product development?
      • Capital shortages
      • Social and government constraints
      • Costs of development
      • A and B
      • A and C
      http://louiemarkquizon.blogspot.com
    • How Can New Products Fail? http://louiemarkquizon.blogspot.com Shortage of ideas Fragmented markets
    • Few ways left to improve products http://louiemarkquizon.blogspot.com Shortage of ideas Fragmented markets
    • Smaller market segments = Lower Sales and Profits http://louiemarkquizon.blogspot.com Shortage of ideas Fragmented markets
    • http://louiemarkquizon.blogspot.com Social and governmental constraints Costs of development Consumer safety and environmental concerns
    • http://louiemarkquizon.blogspot.com Social and governmental constraints Costs of development High R&D, manufacturing, and marketing costs
    • http://louiemarkquizon.blogspot.com Capital shortages Faster required development time Lack funds for research and launching
    • http://louiemarkquizon.blogspot.com Capital shortages Faster required development time Compress development time
    • http://louiemarkquizon.blogspot.com Shorter product life cycles Rivals - quick to copy successful products
    • http://louiemarkquizon.blogspot.com Social and governmental constraints
      • Nuclear waste concern
      • House Bill 4631 is losing proponents
      Example: Bataan Nuclear Power Plant
      • Capital shortages
      • Social and government constraints
      • Costs of development
      • A and B
      • A and C
      5. The Bataan Nuclear Power Plant is considered a new source of electricity in the Philippines. Its non-operation status is attributed to a stagnant House Bill. What type of hindrance is this to new-product development? http://louiemarkquizon.blogspot.com
    • Questions To Concepts
      • Keep Developing New Products
      • Stimulate Creativity in Individuals and Groups
      • Stimulate Creativity in Individuals and Groups
      • Satisfy New or Different Needs
      • How Can New Products Fail?
      • Management Decisions for Test Marketing
      http://louiemarkquizon.blogspot.com
    • 6. The following are decisions that management faces in consumer-goods market testing except:
      • How many test cities?
      • Which cities?
      • Length of test?
      • What information?
      • None of the above
      http://louiemarkquizon.blogspot.com
    • Management Decisions for Test Marketing http://louiemarkquizon.blogspot.com How many test cities? Which cities?
    • Most tests use between 2 and 6 http://louiemarkquizon.blogspot.com How many test cities? Which cities?
    • Must develop selection criteria http://louiemarkquizon.blogspot.com How many test cities? Which cities?
    • http://louiemarkquizon.blogspot.com Length of test? What information to collect? Typically few months to a year
    • http://louiemarkquizon.blogspot.com Length of test? What information to collect? Consumer panels, buyer surveys, etc.
    • http://louiemarkquizon.blogspot.com What action to take? Relationship between trial and repurchase rates
    • http://louiemarkquizon.blogspot.com Started in Barangay Nalsian, Manaoag Town, Pangasinan Stocks have already reached Baguio City Next test: Pilgrims at Manaoag Church Example: Agtalon Malunggay Ice Cream
    • 6. The following are decisions that management faces in consumer-goods market testing except:
      • How many test cities?
      • Which cities?
      • Length of test?
      • What information?
      • None of the above
      http://louiemarkquizon.blogspot.com
      • Consumer Adoption Process
      • How Adopters are Categorized
      • How Adopters are Categorized
      • What features distinguishes an innovation?
      Questions To Concepts http://louiemarkquizon.blogspot.com
    • 7. ________ is an individual’s decision to become a regular user of the product
      • Awareness
      • Interest
      • Evaluation
      • Trial
      • Adoption
      http://louiemarkquizon.blogspot.com
    • http://louiemarkquizon.blogspot.com How does a Consumer Adopt to a New Product and Service?
    • http://louiemarkquizon.blogspot.com The consumer becomes aware of the innovation but lacks information about it
    • http://louiemarkquizon.blogspot.com The consumer is stimulated to seek information about the innovation
    • http://louiemarkquizon.blogspot.com The consumer considers whether to try the innovation
    • http://louiemarkquizon.blogspot.com The consumer tries the innovation to improve his or her estimate of its value
    • http://louiemarkquizon.blogspot.com The consumer decides to make full and regular use of the innovation
    • http://louiemarkquizon.blogspot.com Example: Juan’s adoption of Mang Inasal
    • http://louiemarkquizon.blogspot.com Example: Juan’s adoption of Mang Inasal
    • http://louiemarkquizon.blogspot.com Juan becomes aware of this new restaurant that serves Chicken Inasal at a low price…
    • http://louiemarkquizon.blogspot.com The low price and the unlimited rice intrigues him to seek more information…
    • http://louiemarkquizon.blogspot.com He contemplates on whether he will try the product…
    • http://louiemarkquizon.blogspot.com He tries the product to feed his curiousness…
    • http://louiemarkquizon.blogspot.com Juan likes Mang Inasal very much! He then decides to go there every Friday.
    • 7. ________ is an individual’s decision to become a regular user of the product
      • Awareness
      • Interest
      • Evaluation
      • Trial
      • Adoption
      http://louiemarkquizon.blogspot.com
      • Consumer Adoption Process
      • How Adopters are Categorized
      • How Adopters are Categorized
      • What features distinguishes an innovation?
      Questions To Concepts http://louiemarkquizon.blogspot.com
    • 8.Which statements is/are true in adopter categorization?
      • Innovators are opinion leaders
      • Late majority are skeptical conservatives
      • Laggards are tradition bound and resists innovation
      • A and B
      • B and C
      http://louiemarkquizon.blogspot.com
    • 9. ________ are opinion leaders who carefully search for new technologies that might give them a dramatic competitive advantage
      • Innovators
      • Early adopters
      • Early Majority
      • Late Majority
      • Laggards
      http://louiemarkquizon.blogspot.com
    • How Adopters are Categorized http://louiemarkquizon.blogspot.com 21/2% Innovators 131/2% Early adopters 34% Early majority 34% Late majority 16% Laggards Reference: Philip Kotler’s, Marketing Management, 13 th Edition
    • Innovators are technology enthusiasts http://louiemarkquizon.blogspot.com 21/2% Innovators 131/2% Early adopters 34% Early majority 34% Late majority 16% Laggards Adopter Categorization, From Philip Kotler’s, Marketing Management, 13 th Edition
    • Early adopters are opinion leaders http://louiemarkquizon.blogspot.com 21/2% Innovators 131/2% Early adopters 34% Early majority 34% Late majority 16% Laggards Adopter Categorization, From Philip Kotler’s, Marketing Management, 13 th Edition
    • Early majority are deliberate pragmatists http://louiemarkquizon.blogspot.com 21/2% Innovators 131/2% Early adopters 34% Early majority 34% Late majority 16% Laggards Adopter Categorization, From Philip Kotler’s, Marketing Management, 13 th Edition
    • Late majority are skeptical conservatives http://louiemarkquizon.blogspot.com 21/2% Innovators 131/2% Early adopters 34% Early majority 34% Late majority 16% Laggards Adopter Categorization, From Philip Kotler’s, Marketing Management, 13 th Edition
    • Laggards are tradition bound and resists innovation http://louiemarkquizon.blogspot.com 21/2% Innovators 131/2% Early adopters 34% Early majority 34% Late majority 16% Laggards Adopter Categorization, From Philip Kotler’s, Marketing Management, 13 th Edition
      • Companies use Personal Influence to influence:
        • Early adopters
        • Late adopters
      How Companies use Personal Influence http://louiemarkquizon.blogspot.com
    • Example: Kris Aquino’s Cervical Cancer Vaccine Advertisement http://louiemarkquizon.blogspot.com Kris Aquino = known trendsetter Ad uses Kris to influence adopters
      • Innovators are opinion leaders
      • Late majority are skeptical conservatives
      • Laggards are tradition bound and resists innovation
      • A and B
      • B and C
      8.Which statements is/are true in adopter categorization? http://louiemarkquizon.blogspot.com
      • Innovators
      • Early adopters
      • Early Majority
      • Late Majority
      • Laggards
      9. ________ are opinion leaders who carefully search for new technologies that might give them a dramatic competitive advantage http://louiemarkquizon.blogspot.com
      • Consumer Adoption Process
      • How Adopters are Categorized
      • How Adopters are Categorized
      • What features distinguishes an innovation?
      Questions To Concepts http://louiemarkquizon.blogspot.com
    • 10. In the characteristics of an innovation, the following statements are true except:
      • Relative advantage is the degree to which a superseded idea is better than the innovation
      • Compatibility is the degree to which the innovation matches the values/norms of adopters
      • Complexity is the degree of difficulty in understanding or using the innovation
      • Divisibility is the degree to which an innovation can be tried on a limited basis
      • Communicability is the degree to which the beneficial results of use are observable or describable to others
      http://louiemarkquizon.blogspot.com
    • What are the Features that Distinguishes an Innovation? http://louiemarkquizon.blogspot.com Relative Advantage Compatibility
    • Innovation = better than the superseded idea http://louiemarkquizon.blogspot.com Relative Advantage Compatibility
    • Harmony between innovation and values/norms of adopters http://louiemarkquizon.blogspot.com Relative Advantage Compatibility
    • http://louiemarkquizon.blogspot.com Complexity Divisibility Gauge of difficulty in understanding/using the innovation
    • http://louiemarkquizon.blogspot.com Complexity Divisibility Tried on a limited basis?
    • http://louiemarkquizon.blogspot.com Communicability Beneficial results are observable and describable
    • http://louiemarkquizon.blogspot.com Relative Advantage
      • Same alcohol content
      • Less calories
      VS Example: San Miguel Beer Light
    • http://louiemarkquizon.blogspot.com Compatibility Product well adopted by young professionals Example: San Miguel Beer Light
    • http://louiemarkquizon.blogspot.com Complexity Divisibility Low Low Communicability High Example: San Miguel Beer Light
    • 10. In the characteristics of an innovation, the following statements are true except:
      • Relative advantage is the degree to which a superseded idea is better than the innovation
      • Compatibility is the degree to which the innovation matches the values/norms of adopters
      • Complexity is the degree of difficulty in understanding or using the innovation
      • Divisibility is the degree to which an innovation can be tried on a limited basis
      • Communicability is the degree to which the beneficial results of use are observable or describable to others
      http://louiemarkquizon.blogspot.com
    • Questions To Concepts
      • Keep Developing New Products
      • Stimulate Creativity in Individuals and Groups
      • Stimulate Creativity in Individuals and Groups
      • Satisfy New or Different Needs
      • How Can New Products Fail?
      • Management Decisions for Test Marketing
      http://louiemarkquizon.blogspot.com
      • Consumer Adoption Process
      • How Adopters are Categorized
      • How Adopters are Categorized
      • What features distinguishes an innovation?
      Questions To Concepts http://louiemarkquizon.blogspot.com
    • TOP 10 Learning Questions for Chapter 20 Introducing New Market Offerings Louie Mark Quizon April 15, 2011 http://louiemarkquizon.blogspot.com