Product Positioning and Lifecycle

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    Product Positioning and Lifecycle - Presentation Transcript

    1. Positioning and Differentiating Market Offerings over the Life Cycle
    2. Objectives
      • Identify Differentiating Attributes
      • Choosing & Communicating Effective Positioning
      • Marketing Strategies Along the Product Life Cycle
      • Marketing Strategy & Market Evolution
    3. Differentiation
    4. Product Differentiation Form Fea- tures Perfor- mance Quality Conform- ance Quality Dura- bility Relia- bility Repair- ability Style Design
    5. Services Differentiation Delivery Ordering Ease Maintenance & Repair Customer Training Installation Customer Consulting Miscellaneous Services
    6. Image Differentiation Media Atmosphere Symbols Events
    7. Differences Worth Establishing Affordable Superior Profitable Preemptive Distinctive Important
    8. Positioning is the act of designing the company’s offering and image to occupy a distinctive place in the the target market’s mind.
    9. Perceptual Map 0.2 0.4 0.6 0.8 1.0 1.2 1.4 1.6 -1.6 -1.4 -1.2 -1.0 -0.8 -0.6 -0.4 -0.2 1.0 0.8 0.6 0.4 0.2 -0.2 -0.4 -0.6 -0.8 Magic Mountain Japanese Deer Park Busch Gardens Knott’s Berry Farm Lion Country Safari Marineland of the Pacific Disneyland Economical Fun rides Exercise Fantasy Good food Easy to reach Educational, animals Little waiting Live shows
    10. Product Life Cycle
    11. Sales & Profit Life Cycles Introduction Growth Maturity Decline Time Sales & profits ($)
    12. Time of adoption innovations Adopter Categorization of the Basis of Relative Time of Adoption of Innovations 2 1 /2% Innovators 13 1 /2% Early adopters 34% Early majority 34% Late majority 16% Laggards
    13. Innovators: Description
      • 2.5% of population
      • Venturesome
      • Very eager to try new ideas
      • Acceptable if risk is daring
      • More cosmopolite social relationships
      • Communicates with other innovators
    14. Early Adopters: Description
      • 13.5% of population
      • Respected
      • More integrated into the local social system
      • The persons to check with before adopting a new idea
      • Category contains greatest number of opinion leaders
      • Are role models
    15. Early Majority: Description
      • 34.0% of population
      • Deliberate
      • Adopt new ideas just prior to the average time
      • Seldom hold leadership positions
      • Deliberate for some time before adopting
    16. Late Majority: Description
      • 34% of population
      • Skeptical
      • Adopt new ideas just after the average time
      • Adopting may be both an economic necessity and a reaction to peer pressures
      • Innovations approached cautiously
    17. Laggards: Description
      • 16% of population
      • Traditional
      • The last people to adopt an innovation
      • Most “localite” in outlook
      • Oriented to the past
      • Suspicious of the new
    18. Four Introductory Marketing Strategies Rapid- skimming strategy Rapid- penetration strategy Slow- penetration strategy Slow- skimming strategy Price Low High Promotion High Low
    19. Maturity Stage
      • Market Modification
      • Product Modification
      • Marketing-Mix Modification
    20. Decline Stage
      • Increase investment
      • Resolve uncertainties - stable investment
      • Selective niches
      • Harvesting
      • Divesting
    21. Market Evolution
      • Emergence
      • Growth
      • Maturity
      • Decline
    22. Review
      • Identify Differentiating Attributes
      • Choosing & Communicating Effective Positioning
      • Marketing Strategies Along the Product Life Cycle
      • Marketing Strategy & Market Evolution

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