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Top 10 concepts in chapter 20 of Marketing Management 13th edition by Philip Kotler and Kevin Lane Keller

Top 10 concepts in chapter 20 of Marketing Management 13th edition by Philip Kotler and Kevin Lane Keller

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  • 1. TOP 10 Learning Concepts for Chapter 20 Introducing New Market Offerings Louie Mark Quizon April 8, 2011 http://louiemarkquizon.blogspot.com
  • 2. Top 10 Concepts
    • Keep Developing New Products
    • Stimulate Creativity in Individuals and Groups
    • Get Consumers’ Response
    • Satisfy New or Different Needs
    • How Can New Products Fail?
    • Where Will We Rollout?
    http://louiemarkquizon.blogspot.com
  • 3. Top 10 Concepts
    • Management Decisions for Test Marketing
    • Consumer Adoption Process
    • How Adopters are Categorized
    • What features distinguishes an innovation?
    http://louiemarkquizon.blogspot.com
  • 4. Top 10 Concepts
    • Keep Developing New Products
    • Stimulate Creativity in Individuals and Groups
    • Get Consumers’ Response
    • Satisfy New or Different Needs
    • How Can New Products Fail?
    • Where Will We Rollout?
    http://louiemarkquizon.blogspot.com
  • 5. Concept 1: Keep Developing New Products New-to-the-world http://louiemarkquizon.blogspot.com
  • 6. New-to-the-world http://louiemarkquizon.blogspot.com Concept 1: Keep Developing New Products
  • 7. New-to-the-world New product lines http://louiemarkquizon.blogspot.com Concept 1: Keep Developing New Products
  • 8. New-to-the-world New product lines http://louiemarkquizon.blogspot.com Concept 1: Keep Developing New Products
  • 9. http://louiemarkquizon.blogspot.com Concept 1: Keep Developing New Products
  • 10. Additions http://louiemarkquizon.blogspot.com Concept 1: Keep Developing New Products
  • 11. Additions http://louiemarkquizon.blogspot.com Concept 1: Keep Developing New Products
  • 12. Additions Improvements http://louiemarkquizon.blogspot.com Concept 1: Keep Developing New Products
  • 13. Additions Improvements http://louiemarkquizon.blogspot.com Concept 1: Keep Developing New Products
  • 14. http://louiemarkquizon.blogspot.com Concept 1: Keep Developing New Products
  • 15. Repositionings http://louiemarkquizon.blogspot.com Concept 1: Keep Developing New Products
  • 16. Repositionings http://louiemarkquizon.blogspot.com Concept 1: Keep Developing New Products
  • 17. Repositionings Cost Reductions http://louiemarkquizon.blogspot.com Concept 1: Keep Developing New Products
  • 18. Repositionings Cost Reductions http://louiemarkquizon.blogspot.com Concept 1: Keep Developing New Products
  • 19. http://louiemarkquizon.blogspot.com Concept 1: Example: Hapee Toothpaste
  • 20. http://louiemarkquizon.blogspot.com Concept 1: Example: Hapee Toothpaste
  • 21. http://louiemarkquizon.blogspot.com Established product lines of Hapee Concept 1: Example: Hapee Toothpaste
  • 22. http://louiemarkquizon.blogspot.com Concept 1: Example: Hapee Toothpaste
  • 23. http://louiemarkquizon.blogspot.com Concept 1: Example: Hapee Toothpaste
  • 24. http://louiemarkquizon.blogspot.com Additional to existing product lines Concept 1: Example: Hapee Toothpaste
  • 25. http://louiemarkquizon.blogspot.com Additional to existing product lines Supplements a company’s existing product lines Concept 1: Example: Hapee Toothpaste
  • 26. Top 10 Concepts
    • Keep Developing New Products
    • Stimulate Creativity in Individuals and Groups
    • Get Consumers’ Response
    • Satisfy New or Different Needs
    • How Can New Products Fail?
    • Where Will We Rollout?
    http://louiemarkquizon.blogspot.com
  • 27. Concept 2: Stimulate Creativity in Individuals and Groups! http://louiemarkquizon.blogspot.com
  • 28. Concept 2: Stimulate Creativity in Individuals and Groups! http://louiemarkquizon.blogspot.com
  • 29. Concept 2: Example: TeamManila’s Creativity Generation – New Context http://louiemarkquizon.blogspot.com
  • 30. Concept 2: Example: TeamManila’s Creativity Generation – New Context http://louiemarkquizon.blogspot.com
  • 31. Concept 2: Example: TeamManila’s Creativity Generation – New Context http://louiemarkquizon.blogspot.com
    • Familiar Process:
      • Company designers choose designs to sell
  • 32. Concept 2: 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
  • 33. Top 10 Concepts
    • Keep Developing New Products
    • Stimulate Creativity in Individuals and Groups
    • Get Consumers’ Response
    • Satisfy New or Different Needs
    • How Can New Products Fail?
    • Where Will We Rollout?
    http://louiemarkquizon.blogspot.com
  • 34. Concept 3: Get Consumers’ Response to the Following Questions http://louiemarkquizon.blogspot.com
  • 35. Concept 3: Get Consumers’ Response to the Following Questions http://louiemarkquizon.blogspot.com
  • 36. Concept 3: Example: Empanadero Bakeshop http://louiemarkquizon.blogspot.com
  • 37. Concept 3: Example: Empanadero Bakeshop http://louiemarkquizon.blogspot.com
  • 38. Concept 3: Example: Empanadero Bakeshop
    • Started - later part of 2009
    http://louiemarkquizon.blogspot.com
  • 39. Concept 3: Example: Empanadero Bakeshop
    • Started - later part of 2009
    • Concept:
    http://louiemarkquizon.blogspot.com
  • 40. Concept 3: Example: Empanadero Bakeshop
    • Started - later part of 2009
    • Concept:
      • Homemade apple pies with no extenders
    http://louiemarkquizon.blogspot.com
  • 41. Concept 3: Example: Empanadero Bakeshop
    • Started - later part of 2009
    • Concept:
      • Homemade apple pies with no extenders
      • For teenagers and adults
    http://louiemarkquizon.blogspot.com
  • 42. Concept 3: During concept testing of apple pies, market feedback revealed… http://louiemarkquizon.blogspot.com
  • 43. Concept 3: During concept testing of apple pies, market feedback revealed… http://louiemarkquizon.blogspot.com
  • 44. Concept 3: During concept testing of apple pies, market feedback revealed…
    • Need level = high
    http://louiemarkquizon.blogspot.com
  • 45. Concept 3: During concept testing of apple pies, market feedback revealed…
    • Need level = high
      • High demand for apple pies
    http://louiemarkquizon.blogspot.com
  • 46. Concept 3: During concept testing of apple pies, market feedback revealed…
    • Need level = high
      • High demand for apple pies
    • Perceived value = low
    http://louiemarkquizon.blogspot.com
  • 47. Concept 3: During concept testing of apple pies, market feedback revealed…
    • Need level = high
      • High demand for apple pies
    • Perceived value = low
      • Price was too expensive
    http://louiemarkquizon.blogspot.com
  • 48. Concept 3: Solution and eventual benefit: http://louiemarkquizon.blogspot.com
  • 49. Concept 3: Solution and eventual benefit: http://louiemarkquizon.blogspot.com
  • 50. Concept 3: Solution and eventual benefit:
    • Make small “pocket-sized” pies
    http://louiemarkquizon.blogspot.com
  • 51. Concept 3: Solution and eventual benefit:
    • Make small “pocket-sized” pies
      • Same quality but costs less
    http://louiemarkquizon.blogspot.com
  • 52. Concept 3: Solution and eventual benefit:
    • Make small “pocket-sized” pies
      • Same quality but costs less
    • Perceived Value = High
    http://louiemarkquizon.blogspot.com
  • 53. Concept 3: Solution and eventual benefit:
    • Make small “pocket-sized” pies
      • Same quality but costs less
    • Perceived Value = High
      • Orders keep coming in
    http://louiemarkquizon.blogspot.com
  • 54. Concept 3: Solution and eventual benefit:
    • Make small “pocket-sized” pies
      • Same quality but costs less
    • Perceived Value = High
      • Orders keep coming in
      • Presence of frequent buyers
    http://louiemarkquizon.blogspot.com
  • 55. Top 10 Concepts
    • Keep Developing New Products
    • Stimulate Creativity in Individuals and Groups
    • Get Consumers’ Response
    • Satisfy New or Different Needs
    • How Can New Products Fail?
    • Where Will We Rollout?
    http://louiemarkquizon.blogspot.com
  • 56. http://louiemarkquizon.blogspot.com Concept 4: Transform a Product to Satisfy New or Different Needs!
  • 57. Gas Station Concept 4: Transform a Product to Satisfy New or Different Needs! http://louiemarkquizon.blogspot.com
  • 58. Gas Station Concept 4: Transform a Product to Satisfy New or Different Needs! http://louiemarkquizon.blogspot.com
  • 59. Gas Station Food Concept 4: Transform a Product to Satisfy New or Different Needs! http://louiemarkquizon.blogspot.com
  • 60. Concept 4: Transform a Product to Satisfy New or Different Needs! http://louiemarkquizon.blogspot.com
  • 61. Cafeteria Concept 4: Transform a Product to Satisfy New or Different Needs! http://louiemarkquizon.blogspot.com
  • 62. Cafeteria Concept 4: Transform a Product to Satisfy New or Different Needs! http://louiemarkquizon.blogspot.com
  • 63. Cafeteria Internet Concept 4: Transform a Product to Satisfy New or Different Needs! http://louiemarkquizon.blogspot.com
  • 64. Concept 4: Transform a Product to Satisfy New or Different Needs! http://louiemarkquizon.blogspot.com
  • 65. Cereal Concept 4: Transform a Product to Satisfy New or Different Needs! http://louiemarkquizon.blogspot.com
  • 66. Cereal Concept 4: Transform a Product to Satisfy New or Different Needs! http://louiemarkquizon.blogspot.com
  • 67. Cereal Snacking Concept 4: Transform a Product to Satisfy New or Different Needs! http://louiemarkquizon.blogspot.com
  • 68. Concept 4: Transform a Product to Satisfy New or Different Needs! http://louiemarkquizon.blogspot.com
  • 69. Candy Concept 4: Transform a Product to Satisfy New or Different Needs! http://louiemarkquizon.blogspot.com
  • 70. Candy Concept 4: Transform a Product to Satisfy New or Different Needs! http://louiemarkquizon.blogspot.com
  • 71. Candy Toy Concept 4: Transform a Product to Satisfy New or Different Needs! http://louiemarkquizon.blogspot.com
  • 72. Concept 4: Transform a Product to Satisfy New or Different Needs! http://louiemarkquizon.blogspot.com
  • 73. Audio Concept 4: Transform a Product to Satisfy New or Different Needs! http://louiemarkquizon.blogspot.com
  • 74. Audio Concept 4: Transform a Product to Satisfy New or Different Needs! http://louiemarkquizon.blogspot.com
  • 75. Audio Portable Concept 4: Transform a Product to Satisfy New or Different Needs! http://louiemarkquizon.blogspot.com
  • 76. Concept 4: Example: Shell and Shell Select Store http://louiemarkquizon.blogspot.com
  • 77. Shell Gas Station http://louiemarkquizon.blogspot.com Concept 4: Example: Shell and Shell Select Store
  • 78. Shell Gas Station http://louiemarkquizon.blogspot.com Concept 4: Example: Shell and Shell Select Store
  • 79. Shell Gas Station Food http://louiemarkquizon.blogspot.com Concept 4: Example: Shell and Shell Select Store
  • 80. Shell Gas Station with Select Store http://louiemarkquizon.blogspot.com Concept 4: Example: Shell and Shell Select Store
  • 81. Top 10 Concepts
    • Keep Developing New Products
    • Stimulate Creativity in Individuals and Groups
    • Get Consumers’ Response
    • Satisfy New or Different Needs
    • How Can New Products Fail?
    • Where Will We Rollout?
    http://louiemarkquizon.blogspot.com
  • 82. Concept 5: How Can New Products Fail? http://louiemarkquizon.blogspot.com
  • 83. Concept 5: How Can New Products Fail? http://louiemarkquizon.blogspot.com Shortage of ideas Few ways left to improve products
  • 84. Concept 5: How Can New Products Fail? http://louiemarkquizon.blogspot.com Shortage of ideas Few ways left to improve products
  • 85. Concept 5: How Can New Products Fail? http://louiemarkquizon.blogspot.com Shortage of ideas Few ways left to improve products Fragmented markets Smaller market segments = Lower Sales and Profits
  • 86. Concept 5: How Can New Products Fail? http://louiemarkquizon.blogspot.com Shortage of ideas Few ways left to improve products Fragmented markets Smaller market segments = Lower Sales and Profits
  • 87. http://louiemarkquizon.blogspot.com Concept 5: How Can New Products Fail?
  • 88. http://louiemarkquizon.blogspot.com Social and governmental constraints Consumer safety and environmental concerns Concept 5: How Can New Products Fail?
  • 89. http://louiemarkquizon.blogspot.com Social and governmental constraints Consumer safety and environmental concerns Concept 5: How Can New Products Fail?
  • 90. http://louiemarkquizon.blogspot.com Social and governmental constraints Consumer safety and environmental concerns Costs of development High R&D, manufacturing, and marketing costs Concept 5: How Can New Products Fail?
  • 91. http://louiemarkquizon.blogspot.com Social and governmental constraints Consumer safety and environmental concerns Costs of development High R&D, manufacturing, and marketing costs Concept 5: How Can New Products Fail?
  • 92. http://louiemarkquizon.blogspot.com Concept 5: How Can New Products Fail?
  • 93. http://louiemarkquizon.blogspot.com Capital shortages Lack funds for research and launching Concept 5: How Can New Products Fail?
  • 94. http://louiemarkquizon.blogspot.com Capital shortages Lack funds for research and launching Concept 5: How Can New Products Fail?
  • 95. http://louiemarkquizon.blogspot.com Capital shortages Lack funds for research and launching Faster required development time Compress development time Concept 5: How Can New Products Fail?
  • 96. http://louiemarkquizon.blogspot.com Capital shortages Lack funds for research and launching Faster required development time Compress development time Concept 5: How Can New Products Fail?
  • 97. http://louiemarkquizon.blogspot.com Concept 5: How Can New Products Fail?
  • 98. http://louiemarkquizon.blogspot.com Shorter product life cycles Rivals - quick to copy successful products Concept 5: How Can New Products Fail?
  • 99. http://louiemarkquizon.blogspot.com Shorter product life cycles Rivals - quick to copy successful products Concept 5: How Can New Products Fail?
  • 100. http://louiemarkquizon.blogspot.com Concept 5: Example: Bataan Nuclear Power Plant
  • 101. http://louiemarkquizon.blogspot.com Concept 5: Example: Bataan Nuclear Power Plant
  • 102. http://louiemarkquizon.blogspot.com Social and governmental constraints Concept 5: Example: Bataan Nuclear Power Plant
  • 103. http://louiemarkquizon.blogspot.com Social and governmental constraints
    • Nuclear waste concern
    Concept 5: Example: Bataan Nuclear Power Plant
  • 104. http://louiemarkquizon.blogspot.com Social and governmental constraints
    • Nuclear waste concern
    • House Bill 4631 is losing proponents
    Concept 5: Example: Bataan Nuclear Power Plant
  • 105. Top 10 Concepts
    • Keep Developing New Products
    • Stimulate Creativity in Individuals and Groups
    • Get Consumers’ Response
    • Satisfy New or Different Needs
    • How Can New Products Fail?
    • Where Will We Rollout?
    http://louiemarkquizon.blogspot.com
  • 106. Concept 6: Where will we rollout? Before choosing rollout markets, first consider: http://louiemarkquizon.blogspot.com
  • 107. Concept 6: Example: TeamManila’s Geographic Strategy http://louiemarkquizon.blogspot.com
  • 108. Concept 6: Example: TeamManila’s Geographic Strategy http://louiemarkquizon.blogspot.com
  • 109. Concept 6: Example: TeamManila’s Geographic Strategy http://louiemarkquizon.blogspot.com
    • Stores in almost all major malls
  • 110. Concept 6: Example: TeamManila’s Geographic Strategy http://louiemarkquizon.blogspot.com
    • Stores in almost all major malls
      • Market Potential
  • 111. Concept 6: Example: TeamManila’s Geographic Strategy http://louiemarkquizon.blogspot.com
    • Stores in almost all major malls
      • Market Potential
    • Online Social Marketing
  • 112. Concept 6: Example: TeamManila’s Geographic Strategy http://louiemarkquizon.blogspot.com
    • Stores in almost all major malls
      • Market Potential
    • Online Social Marketing
      • Cheaper communication media
  • 113. Top 10 Concepts
    • Management Decisions for Test Marketing
    • Consumer Adoption Process
    • How Adopters are Categorized
    • What features distinguishes an innovation?
    http://louiemarkquizon.blogspot.com
  • 114. Concept 7: Management Decisions for Test Marketing http://louiemarkquizon.blogspot.com
  • 115. Concept 7: Management Decisions for Test Marketing http://louiemarkquizon.blogspot.com How many test cities? Most tests use between 2 and 6
  • 116. Concept 7: Management Decisions for Test Marketing http://louiemarkquizon.blogspot.com How many test cities? Most tests use between 2 and 6
  • 117. Concept 7: Management Decisions for Test Marketing http://louiemarkquizon.blogspot.com How many test cities? Most tests use between 2 and 6 Which cities? Must develop selection criteria
  • 118. Concept 7: Management Decisions for Test Marketing http://louiemarkquizon.blogspot.com How many test cities? Most tests use between 2 and 6 Which cities? Must develop selection criteria
  • 119. http://louiemarkquizon.blogspot.com Concept 7: Management Decisions for Test Marketing
  • 120. http://louiemarkquizon.blogspot.com Length of test? Typically few months to a year Concept 7: Management Decisions for Test Marketing
  • 121. http://louiemarkquizon.blogspot.com Length of test? Typically few months to a year Concept 7: Management Decisions for Test Marketing
  • 122. http://louiemarkquizon.blogspot.com Length of test? Typically few months to a year What information to collect? Consumer panels, buyer surveys, etc. Concept 7: Management Decisions for Test Marketing
  • 123. http://louiemarkquizon.blogspot.com Length of test? Typically few months to a year What information to collect? Consumer panels, buyer surveys, etc. Concept 7: Management Decisions for Test Marketing
  • 124. http://louiemarkquizon.blogspot.com Concept 7: Management Decisions for Test Marketing
  • 125. http://louiemarkquizon.blogspot.com What action to take? Relationship between trial and repurchase rates Concept 7: Management Decisions for Test Marketing
  • 126. http://louiemarkquizon.blogspot.com What action to take? Relationship between trial and repurchase rates Concept 7: Management Decisions for Test Marketing
  • 127. http://louiemarkquizon.blogspot.com Concept 7: Example: Agtalon Malunggay Ice Cream
  • 128. http://louiemarkquizon.blogspot.com Concept 7: Example: Agtalon Malunggay Ice Cream
  • 129. http://louiemarkquizon.blogspot.com Started in Barangay Nalsian, Manaoag Town, Pangasinan Concept 7: Example: Agtalon Malunggay Ice Cream
  • 130. http://louiemarkquizon.blogspot.com Started in Barangay Nalsian, Manaoag Town, Pangasinan Stocks have already reached Baguio City Concept 7: Example: Agtalon Malunggay Ice Cream
  • 131. http://louiemarkquizon.blogspot.com Started in Barangay Nalsian, Manaoag Town, Pangasinan Stocks have already reached Baguio City Next test: Pilgrims at Manaoag Church Concept 7: Example: Agtalon Malunggay Ice Cream
  • 132. Top 10 Concepts
    • Management Decisions for Test Marketing
    • Consumer Adoption Process
    • How Adopters are Categorized
    • What features distinguishes an innovation?
    http://louiemarkquizon.blogspot.com
  • 133. http://louiemarkquizon.blogspot.com Concept 8: How does a Consumer Adopt to a New Product and Service?
  • 134. Concept 8: How does a Consumer Adopt to a New Product and Service? http://louiemarkquizon.blogspot.com
  • 135. http://louiemarkquizon.blogspot.com Concept 8: How does a Consumer Adopt to a New Product and Service?
  • 136. http://louiemarkquizon.blogspot.com Concept 8: How does a Consumer Adopt to a New Product and Service?
  • 137. http://louiemarkquizon.blogspot.com Concept 8: How does a Consumer Adopt to a New Product and Service?
  • 138. http://louiemarkquizon.blogspot.com Concept 8: How does a Consumer Adopt to a New Product and Service?
  • 139. http://louiemarkquizon.blogspot.com Concept 8: How does a Consumer Adopt to a New Product and Service?
  • 140. http://louiemarkquizon.blogspot.com Adoption – to become a regular user of the product/service Concept 8: How does a Consumer Adopt to a New Product and Service?
  • 141. http://louiemarkquizon.blogspot.com Concept 8: Example: Juan’s adoption of Mang Inasal
  • 142. http://louiemarkquizon.blogspot.com Concept 8: Example: Juan’s adoption of Mang Inasal
  • 143. http://louiemarkquizon.blogspot.com Concept 8: Example: Juan’s adoption of Mang Inasal
  • 144. http://louiemarkquizon.blogspot.com Concept 8: Example: Juan’s adoption of Mang Inasal
  • 145. http://louiemarkquizon.blogspot.com Concept 8: Juan becomes aware of this new restaurant that serves Chicken Inasal at a low price…
  • 146. http://louiemarkquizon.blogspot.com Concept 8: The low price and the unlimited rice intrigues him to seek more information…
  • 147. http://louiemarkquizon.blogspot.com Concept 8: He contemplates on whether he will try the product…
  • 148. http://louiemarkquizon.blogspot.com Concept 8: He tries the product to feed his curiousness…
  • 149. http://louiemarkquizon.blogspot.com Concept 8: Juan likes Mang Inasal very much! He then decides to go there every Friday.
  • 150. Top 10 Concepts
    • Management Decisions for Test Marketing
    • Consumer Adoption Process
    • How Adopters are Categorized
    • What features distinguishes an innovation?
    http://louiemarkquizon.blogspot.com
  • 151. Concept 9: 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
  • 152. Concept 9: 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
  • 153. Concept 9: 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
  • 154. Concept 9: 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
  • 155. Concept 9: 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
  • 156. Concept 9: 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
  • 157.
    • Companies use Personal Influence to influence:
      • Early adopters
      • Late adopters
    Concept 9: How Companies use Personal Influence http://louiemarkquizon.blogspot.com
  • 158. Concept 9: Example: Kris Aquino’s Cervical Cancer Vaccine Advertisement http://louiemarkquizon.blogspot.com
  • 159. Concept 9: Example: Kris Aquino’s Cervical Cancer Vaccine Advertisement http://louiemarkquizon.blogspot.com
  • 160. Concept 9: Example: Kris Aquino’s Cervical Cancer Vaccine Advertisement http://louiemarkquizon.blogspot.com Kris Aquino = known trendsetter
  • 161. Concept 9: Example: Kris Aquino’s Cervical Cancer Vaccine Advertisement http://louiemarkquizon.blogspot.com Kris Aquino = known trendsetter Ad uses Kris to influence adopters
  • 162. Top 10 Concepts
    • Management Decisions for Test Marketing
    • Consumer Adoption Process
    • How Adopters are Categorized
    • What features distinguishes an innovation?
    http://louiemarkquizon.blogspot.com
  • 163. Concept 10: What are the Features that Distinguishes an Innovation? http://louiemarkquizon.blogspot.com
  • 164. Concept 10: What are the Features that Distinguishes an Innovation? http://louiemarkquizon.blogspot.com Relative Advantage Innovation = better than the superseded idea
  • 165. Concept 10: What are the Features that Distinguishes an Innovation? http://louiemarkquizon.blogspot.com Relative Advantage Innovation = better than the superseded idea
  • 166. Concept 10: What are the Features that Distinguishes an Innovation? http://louiemarkquizon.blogspot.com Relative Advantage Innovation = better than the superseded idea Compatibility Harmony between innovation and values/norms of adopters
  • 167. Concept 10: What are the Features that Distinguishes an Innovation? http://louiemarkquizon.blogspot.com Relative Advantage Innovation = better than the superseded idea Compatibility Harmony between innovation and values/norms of adopters
  • 168. http://louiemarkquizon.blogspot.com Concept 10: What are the Features that Distinguishes an Innovation?
  • 169. http://louiemarkquizon.blogspot.com Complexity Gauge of difficulty in understanding/using Concept 10: What are the Features that Distinguishes an Innovation?
  • 170. http://louiemarkquizon.blogspot.com Complexity Gauge of difficulty in understanding/using Concept 10: What are the Features that Distinguishes an Innovation?
  • 171. http://louiemarkquizon.blogspot.com Complexity Gauge of difficulty in understanding/using Divisibility Tried on a limited basis? Concept 10: What are the Features that Distinguishes an Innovation?
  • 172. http://louiemarkquizon.blogspot.com Complexity Gauge of difficulty in understanding/using Divisibility Tried on a limited basis? Concept 10: What are the Features that Distinguishes an Innovation?
  • 173. http://louiemarkquizon.blogspot.com Concept 10: What are the Features that Distinguishes an Innovation?
  • 174. http://louiemarkquizon.blogspot.com Communicability Ease and effectiveness in dissemination Concept 10: What are the Features that Distinguishes an Innovation?
  • 175. http://louiemarkquizon.blogspot.com Communicability Ease and effectiveness in dissemination Concept 10: What are the Features that Distinguishes an Innovation?
  • 176. http://louiemarkquizon.blogspot.com Concept 10: Example: San Miguel Beer Light
  • 177. http://louiemarkquizon.blogspot.com Relative Advantage Concept 10: Example: San Miguel Beer Light
  • 178. http://louiemarkquizon.blogspot.com Relative Advantage VS Concept 10: Example: San Miguel Beer Light
  • 179. http://louiemarkquizon.blogspot.com Relative Advantage
    • Same alcohol content
    VS Concept 10: Example: San Miguel Beer Light
  • 180. http://louiemarkquizon.blogspot.com Relative Advantage
    • Same alcohol content
    • Less calories
    VS Concept 10: Example: San Miguel Beer Light
  • 181. http://louiemarkquizon.blogspot.com Concept 10: Example: San Miguel Beer Light
  • 182. http://louiemarkquizon.blogspot.com Compatibility Concept 10: Example: San Miguel Beer Light
  • 183. http://louiemarkquizon.blogspot.com Compatibility Concept 10: Example: San Miguel Beer Light
  • 184. http://louiemarkquizon.blogspot.com Compatibility Product well adopted by young professionals Concept 10: Example: San Miguel Beer Light
  • 185. http://louiemarkquizon.blogspot.com Concept 10: Example: San Miguel Beer Light
  • 186. http://louiemarkquizon.blogspot.com Complexity Low Concept 10: Example: San Miguel Beer Light
  • 187. http://louiemarkquizon.blogspot.com Complexity Divisibility Low Low Concept 10: Example: San Miguel Beer Light
  • 188. http://louiemarkquizon.blogspot.com Complexity Divisibility Low Low Concept 10: Example: San Miguel Beer Light
  • 189. http://louiemarkquizon.blogspot.com Complexity Divisibility Low Low Communicability High Concept 10: Example: San Miguel Beer Light
  • 190. http://louiemarkquizon.blogspot.com Complexity Divisibility Low Low Communicability High Concept 10: Example: San Miguel Beer Light
  • 191. Summary
    • Keep Developing New Products
      • 6 categories of new products
    • Stimulate Creativity in Individuals and Groups
      • 6 techniques in stimulating creativity
    • Get Consumers’ Response
      • Answers indicates the concept’s consumer appeal
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  • 192. Summary
    • Satisfy New or Different Needs
      • New product ideas from lateral marketing
    • How Can New Products Fail?
      • Factors that hinder new-product development
    • Where Will We Rollout?
      • Determining geographic strategy
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  • 193. Summary
    • Management Decisions for Test Marketing
      • Test the product into test markets
    • Consumer Adoption Process
      • From first hearing to final adoption
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  • 194. Summary
    • How Adopters are Categorized
      • Readiness to try new products
    • What features distinguishes an innovation?
      • 5 characteristics of an innovation
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  • 195. TOP 10 Learning Concepts for Chapter 20 Introducing New Market Offerings Louie Mark Quizon April 1, 2011 http://louiemarkquizon.blogspot.com