New product development rev 12

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New product development rev 12

  1. 1. MKTG8125.046 Explain the functions of marketing and their relationship to Internet Marketing<br />MKTG8125.048 Describe the importance of positioning in marketing<br />MKTG8125.049 Describe the importance of developing new products/services<br />MKTG8125.050 Describe the importance of branding in marketing<br />Marketing Basics - How can I satisfy customers?<br />1<br />New Product Development<br />
  2. 2. Product Basics<br />Marketing Basics - How can I satisfy customers?<br />2<br />Product item<br />A specific good service or idea <br />ex. Rockband3<br />Product line<br />A group of products closely related <br />ex. Video Games & Gadgets<br />Product mix<br />All product lines in a company <br /> ex. Best Buy electronic products & services<br />SKU<br />Stock keeping unit <br />ex. Nintendo Wii Rockband3<br />
  3. 3. PRODUCT MIX & LINES<br />Marketing Basics - How can I satisfy customers?<br />3<br />
  4. 4. Product Lines<br />Marketing Basics - How can I satisfy customers?<br />4<br />
  5. 5. Product Items and SKUs<br />Marketing Basics - How can I satisfy customers?<br />5<br />
  6. 6. Types of Goods<br />Marketing Basics - How can I satisfy customers?<br />6<br />Durable goods<br />Last more than 1 use <br />ex. Clothing, cars<br />Non-durable goods<br />Last one or very few uses <br />ex. Gum, food<br />
  7. 7. Consumer goodsUsed by the ultimate consumer ex. laptop<br />Marketing Basics - How can I satisfy customers?<br />7<br />Convenience goods<br />Purchase frequently w/ little effort <br /> ex. Milk, toilet paper<br />Shopping goods<br />Compare several alternatives <br />ex. Clothing, shoes<br />Specialty goods<br />Make a special effort to research <br />ex. House, car, furniture<br />Unsought goods<br />Doesn’t know about or initially want <br />ex. Disability insurance, burial plot, new<br />
  8. 8. Industrial goodsUsed in production of products ex. Harddrive<br />Marketing Basics - How can I satisfy customers?<br />8<br />Production goods<br />Items used to make final product <br />ex. memory chips<br />Support goods<br />Items used in support of production <br />ex. Office supplies, building, equip, tools<br />
  9. 9. Product life cycleSales over time in a product lifecycle<br />Marketing Basics - How can I satisfy customers?<br />9<br />Introduction<br />Slow sales, high prices, few choices <br />ex. Hybrid cars<br />Growth<br />Sales increase, price lowers, more choices <br />ex. Portable DVD players<br />Maturity<br />Sales level off, price levels off, generic choices <br />ex. Cell phones<br />Decline<br />Sales drop off, price decreases, limited choices <br />ex. VCR’s<br />
  10. 10. Product Life Cycle<br />Marketing Basics - How can I satisfy customers?<br />10<br />
  11. 11. Product development process<br />Marketing Basics - How can I satisfy customers?<br />11<br />1. Idea generation <br />2. Analysis <br />3. Create Prototype <br />4. Test Market <br />5. Sell<br />
  12. 12. Reasons new products fail<br />Marketing Basics - How can I satisfy customers?<br />12<br />1. no significant point of difference<br />2. poor craftsmanship<br />3. small market<br />
  13. 13. Failed Products – What We Can Learn<br />Marketing Basics - How can I satisfy customers?<br />13<br />http://www.history.com/shows/modern-marvels/videos/failed-products#future-visions<br />http://www.history.com/shows/modern-marvels/videos/failed-products#failed-products<br />
  14. 14. Consumer Electronics Show<br />Marketing Basics - How can I satisfy customers?<br />14<br />http://www.huffingtonpost.com/2010/01/09/best-ces-2010-products-th_n_416878.html<br />http://www.businesspundit.com/25-most-promising-new-products-for-2010/<br />http://www.youtube.com/watch?v=NbnN_y-_0V0&feature=related<br />
  15. 15. Marketing Basics - How can I satisfy customers?<br />15<br />
  16. 16. Marketing Basics - How can I satisfy customers?<br />16<br />
  17. 17. Marketing Basics - How can I satisfy customers?<br />17<br />
  18. 18. Marketing Basics - How can I satisfy customers?<br />18<br />
  19. 19. Marketing Basics - How can I satisfy customers?<br />19<br />
  20. 20. Marketing Basics - How can I satisfy customers?<br />20<br />
  21. 21. Marketing Basics - How can I satisfy customers?<br />21<br />
  22. 22. Marketing Basics - How can I satisfy customers?<br />22<br />
  23. 23. Marketing Basics - How can I satisfy customers?<br />23<br />
  24. 24. Marketing Basics - How can I satisfy customers?<br />24<br />

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