Paolovirata.chap20 tenconceptssummary

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Paolovirata.chap20 tenconceptssummary

  1. 1. Top 10 Marketing Concepts<br />Chapter 20 <br />Introducing New Market Offerings Marketing Mangement<br />Philip Kotler , Kevin Lane Keller 13th Edition<br />PaoVirata<br />September 2011<br />Prof. Bong De Ungria<br />pRUNSViRATA<br />www.prunsvirata.blogspot.com<br />
  2. 2. Chapter 20 Top 10 Marketing Concepts Outline<br />pRUNSViRATA<br />Managing the Development Process : IDEAS<br />Concept 1 – Idea Generation<br />Concept 2 – Idea Screening<br />Managing the Development Process : CONCEPT STRATEGY<br />Concept 3 – Concept Development Testing<br />Concept 4 – Marketing Strategy Development<br />Concept 5 – Business Analysis<br />www.prunsvirata.blogspot.com<br />
  3. 3. Chapter 20 Top 10 Marketing Concepts Outline (cont)<br />pRUNSViRATA<br />Managing the Development Process : DEVELOPMENT TO CONCEPTUALIZATION<br />Concept 6 – Product Development<br />Concept 7 – Market Testing<br />Concept 8 – Commercialization<br />Consumer : ADOPTIVE PROCESS<br />Concept 9 – Stages in Adoptive Process<br />Concept 10 – Factors Influencing the Adoptive Process<br />www.prunsvirata.blogspot.com<br />
  4. 4. Managing the Development Process : IDEASConcept 1 – IDEA GENERATION<br />pRUNSViRATA<br />New product ideas can come from interacting with various<br />Customers<br />Employees<br />Scientists<br />Engineers<br />Channel members<br />Marketing Agencies<br />Top Management<br />Competitors<br />www.prunsvirata.blogspot.com<br />
  5. 5. Managing the Development Process : IDEASConcept 1 – IDEA GENERATIONSeven Ways to Draw New Ideas From Customers<br />pRUNSViRATA<br />Observe how your customers are using your product<br />Ask your customers about their problems with your products<br />Ask your customers about their dream products<br />Use a customer advisory board to comment on your company’s ideas<br />Use Web sites for new ideas<br />Form a brand community of enthusiasts who discuss your product<br />Encourage or challenge your customers to change or improve your product<br />www.prunsvirata.blogspot.com<br />
  6. 6. Managing the Development Process : IDEASExample1 – IDEA GENERATIONSeven Ways to Draw New Ideas From Customers<br />pRUNSViRATA<br />Observe how your customers are using your product<br />This can be done through :<br /> Market Research<br /> Surveys<br />www.prunsvirata.blogspot.com<br />
  7. 7. Managing the Development Process : IDEASExample1 – IDEA GENERATIONSeven Ways to Draw New Ideas From Customers<br />pRUNSViRATA<br />Ask your customers about their problems with your products<br />Ask your customers about their dream products<br />Market Research<br /> Surveys<br />www.prunsvirata.blogspot.com<br />
  8. 8. Managing the Development Process : IDEASExample1 – IDEA GENERATIONSeven Ways to Draw New Ideas From Customers<br />pRUNSViRATA<br />Use a customer advisory board to comment on your company’s ideas<br />Use Web sites for new ideas<br />www.prunsvirata.blogspot.com<br />
  9. 9. Managing the Development Process : IDEASExample1 – IDEA GENERATIONSeven Ways to Draw New Ideas From Customers<br />pRUNSViRATA<br />Form a brand community of enthusiasts who discuss your product<br />Encourage or challenge your customers to change or improve your product<br />www.prunsvirata.blogspot.com<br />
  10. 10. Managing the Development Process : IDEASConcept 2 – IDEA SCREENING<br />pRUNSViRATA<br />Drop poor ideas as early as possible<br />2 Types of Errors in IDEA SCREENING<br />DROP – error : company dismisses a good idea<br />GO – error : company permits a poor idea to move into development and commercialization<br />Absolute product failure – loses money<br />Partial product failure – loses money but covers all variable cost and some fixed costs<br />Relative product failure – yields a profit lower than the company’s target<br />www.prunsvirata.blogspot.com<br />
  11. 11. Managing the Development Process : IDEASExample2 – IDEA SCREENING<br />pRUNSViRATA<br />DROP – error<br />www.prunsvirata.blogspot.com<br />
  12. 12. Managing the Development Process : IDEASExample2 – IDEA SCREENING<br />pRUNSViRATA<br />GO – error<br />www.prunsvirata.blogspot.com<br />
  13. 13. Managing the Development Process : CONCEPT STRATEGYConcept 3 – CONCEPT DEVELOPMENT TESTING<br />pRUNSViRATA<br />3 Steps in CONCEPT DEVELOPMENT TESTING<br />Concept Development <br />Who will use this product?<br />What primary benefit should this product provide?<br />When will people use this product?<br />Concept Testing - presenting the product concept to target customers and getting their reaction<br />Conjoint Analysis –measures the consumers preference for alternative product concepts<br />www.prunsvirata.blogspot.com<br />
  14. 14. Managing the Development Process : CONCEPT STRATEGYExample3 – CONCEPT DEVELOPMENT TESTING<br />pRUNSViRATA<br />Concept Development <br />Who will use this product?<br />What primary benefit should this product provide?<br />When will people use this product?<br />Milk<br />Kids<br />Adults<br />Complete Nutrition<br />Home<br />School<br />Workplace<br />www.prunsvirata.blogspot.com<br />
  15. 15. Managing the Development Process : CONCEPT STRATEGYExample3 – CONCEPT DEVELOPMENT TESTING<br />pRUNSViRATA<br />Concept Testing<br />Conjoint Analysis<br />www.prunsvirata.blogspot.com<br />
  16. 16. Managing the Development Process : CONCEPT STRATEGYConcept 4 – MARKETING STRATEGY DEVELOPMENT<br />pRUNSViRATA<br />3 Part Strategy Plan<br />Market Size, Structure, Behavior<br />Price, Distribution Strategy, Marketing Budget<br />Profit goals, Marketing Strategy Mix<br />www.prunsvirata.blogspot.com<br />
  17. 17. Managing the Development Process : CONCEPT STRATEGYExample4 – MARKETING STRATEGY DEVELOPMENT<br />pRUNSViRATA<br />Market Size, Structure, Behavior<br />www.prunsvirata.blogspot.com<br />
  18. 18. Managing the Development Process : CONCEPT STRATEGYExample4 – MARKETING STRATEGY DEVELOPMENT<br />pRUNSViRATA<br />Price, Distribution Strategy, Marketing Budget<br />www.prunsvirata.blogspot.com<br />
  19. 19. Managing the Development Process : CONCEPT STRATEGYExample4 – MARKETING STRATEGY DEVELOPMENT<br />pRUNSViRATA<br />Profit goals, Marketing Strategy Mix<br />www.prunsvirata.blogspot.com<br />
  20. 20. Managing the Development Process : CONCEPT STRATEGYConcept 5 – BUSINESS ANALYSIS<br />pRUNSViRATA<br />Management needs to prepare sales, cost, and profit projections to determine whether they satisfy company objectives through:<br />Estimating Total Sales<br />Estimating Costs and Profits<br />www.prunsvirata.blogspot.com<br />
  21. 21. Managing the Development Process : CONCEPT STRATEGYExample5 – BUSINESS ANALYSIS<br />pRUNSViRATA<br />Estimating Total Sales<br />Estimating Costs and Profits<br />www.prunsvirata.blogspot.com<br />
  22. 22. Managing the Development Process : DEVELOPMENT TO COMMERCIALIZATIONConcept 6 – PRODUCT DEVELOPMENT<br />pRUNSViRATA<br />Physical prototypes – development of a prototype that embodies the key attributes described in the product-concept statement<br />Customer Tests- rigorous functional test<br />Alpha Testing – testing the product within the firm<br />Beta Testing – testing with the customers<br />www.prunsvirata.blogspot.com<br />
  23. 23. Managing the Development Process : DEVELOPMENT TO COMMERCIALIZATIONExample6 – PRODUCT DEVELOPMENT<br />pRUNSViRATA<br />Physical prototypes <br />www.prunsvirata.blogspot.com<br />
  24. 24. Managing the Development Process : DEVELOPMENT TO COMMERCIALIZATIONExample6 – PRODUCT DEVELOPMENT<br />pRUNSViRATA<br />Customer Tests<br /> Alpha Testing Beta Testing<br />www.prunsvirata.blogspot.com<br />
  25. 25. Managing the Development Process : DEVELOPMENT TO COMMERCIALIZATIONConcept 7 – MARKET TESTING<br />pRUNSViRATA<br />Consumer-Goods Market Testing– consumer-products tests seek to estimate four variables : trial, first repeat, adoption and purchase frequency <br />Business-Goods Market Testing – technical people observe how test customers use the product and their reactions after the test.<br />www.prunsvirata.blogspot.com<br />
  26. 26. Managing the Development Process : DEVELOPMENT TO COMMERCIALIZATIONConcept 7 – MARKET TESTING<br />pRUNSViRATA<br />Consumer-Goods Market Testing<br />Four Major Methods of consumer-goods market testing<br />Sales Wave Research – products offered to customers at no cost then measures the customers’ reaction and repeat buy<br />Simulated Test Marketing – uses advertising resources such as tv commercials or print ads measures the sales generated from this activities<br />Controlled Test Marketing – research firm manages a panel of stores that will carry the new products for a fee<br />Test Markets – uses full advertising and promotion campaign to certain cities<br />www.prunsvirata.blogspot.com<br />
  27. 27. Managing the Development Process : DEVELOPMENT TO COMMERCIALIZATIONExample7 – MARKET TESTING<br />pRUNSViRATA<br />Consumer-Goods Market Testing<br />Four Major Methods of consumer-goods market testing<br />Sales Wave Research<br />Simulated Test Marketing<br />www.prunsvirata.blogspot.com<br />
  28. 28. Managing the Development Process : DEVELOPMENT TO COMMERCIALIZATIONExample7 – MARKET TESTING<br />pRUNSViRATA<br />Consumer-Goods Market Testing<br />Controlled Test Marketing<br />Test Markets<br />www.prunsvirata.blogspot.com<br />
  29. 29. Managing the Development Process : DEVELOPMENT TO COMMERCIALIZATIONExample7 – MARKET TESTING<br />pRUNSViRATA<br />Business-Goods Market Testing<br />www.prunsvirata.blogspot.com<br />
  30. 30. Managing the Development Process : DEVELOPMENT TO COMMERCIALIZATIONConcept 8 – COMMERCIALIZATION<br />pRUNSViRATA<br />When (Timing)<br />Where (Geographic Strategy)<br />To Whom (Target-Market Prospects)<br />How (Introductory Market Strategy)<br />www.prunsvirata.blogspot.com<br />
  31. 31. Managing the Development Process : DEVELOPMENT TO COMMERCIALIZATIONExample8 – COMMERCIALIZATION<br />pRUNSViRATA<br />When (Timing)<br />Summer<br />Christmas Season<br />School Opening<br />Rainy Season<br />Where (Geographic Strategy)<br />Major Cities<br />Provinces<br />Sports Shops<br />Department Stores<br />www.prunsvirata.blogspot.com<br />
  32. 32. Managing the Development Process : DEVELOPMENT TO COMMERCIALIZATIONExample8 – COMMERCIALIZATIONLaunch of a new shoes<br />pRUNSViRATA<br />To Whom (Target-Market Prospects)<br />Students<br />Runners<br />All<br />Men Only<br />Female Only<br />Adults Only<br />How (Introductory Market Strategy) <br />Product Launch<br />Advertisements<br />Store Distribution<br />www.prunsvirata.blogspot.com<br />
  33. 33. CONSUMER – ADOPTION PROCESSConcept 9 – STAGES IN THE ADOPTION PROCESS<br />pRUNSViRATA<br />Adoption – individual’s decision to become a regular user of a product<br />Consumer Adoption Process – the mental steps through which an individual passes from first hearing about an innovation to final adoption<br />www.prunsvirata.blogspot.com<br />
  34. 34. CONSUMER – ADOPTION PROCESSConcept 9 – STAGES IN THE ADOPTION PROCESS<br />pRUNSViRATA<br />Five Stages of Adoption Process<br />Awareness – customer is aware of the product but lacks information<br />Interest – customer is stimulated to seek information about the product<br />Evaluation – customer considers whether to try the product<br />Trial – customer tries the product<br />Adoption – customer decides to make full or regular use of the product<br />www.prunsvirata.blogspot.com<br />
  35. 35. CONSUMER – ADOPTION PROCESSExample9 – STAGES IN THE ADOPTION PROCESS Doctor’s Adoption Process to a new drug<br />pRUNSViRATA<br />Five Stages of Adoption Process<br />Awareness<br />A medical representative introduces a new drug. <br />Interest<br />Doctor requests for more studies regarding the drug.<br />www.prunsvirata.blogspot.com<br />
  36. 36. pRUNSViRATA<br />Evaluation<br />Doctor reviews the literature and clinical studies provided.<br />Trial<br />Medical Representative gives the doctor sample medicines for trial patients.<br />www.prunsvirata.blogspot.com<br />CONSUMER – ADOPTION PROCESSExample9 – STAGES IN THE ADOPTION PROCESS Doctor’s Adoption Process to a new drug<br />
  37. 37. pRUNSViRATA<br />Adoption<br />Once proven effective and will improve the quality of life<br />of the patient, the doctor will prescribe the medicine to his patients<br />and will be his top of mind choice medication for that ailment.<br />www.prunsvirata.blogspot.com<br />CONSUMER – ADOPTION PROCESSExample9 – STAGES IN THE ADOPTION PROCESS Doctor’s Adoption Process to a new drug<br />
  38. 38. CONSUMER – ADOPTION PROCESSConcept 10 – FACTORS INFLUENCING THE ADOPTION PROCESS<br />pRUNSViRATA<br />READINESS TO TRY NEW PRODUCTS AND PERSONAL INFLUENCE – the effect one person has on another’s attitude or purchase probability<br />CHARACTERISTICS OF THE INNOVATION – some products catch on immediately, whereas others take a long time to gain acceptance<br />ORGANIZATION’S READINESS TO ADOPT INNOVATIONS – adoption is associated with variables in the organization’s environment<br />www.prunsvirata.blogspot.com<br />
  39. 39. CONSUMER – ADOPTION PROCESSExample10 – FACTORS INFLUENCING THE ADOPTION PROCESS<br />pRUNSViRATA<br />READINESS TO TRY NEW PRODUCTS AND PERSONAL INFLUENCE <br /> Influence of endorsers<br />www.prunsvirata.blogspot.com<br />
  40. 40. CONSUMER – ADOPTION PROCESSExample10 – FACTORS INFLUENCING THE ADOPTION PROCESS<br />pRUNSViRATA<br />CHARACTERISTICS OF THE INNOVATION<br />Solar powered cars – not all can easily<br /> adopt and switch to these vehicles<br />www.prunsvirata.blogspot.com<br />
  41. 41. CONSUMER – ADOPTION PROCESSExample10 – FACTORS INFLUENCING THE ADOPTION PROCESS<br />pRUNSViRATA<br />ORGANIZATION’S READINESS TO ADOPT INNOVATIONS<br />CT scans are for major hospitals<br /> and institutions . This innovation<br /> is not yet suitable for provincial<br /> clinics and health centers.<br />www.prunsvirata.blogspot.com<br />
  42. 42. Top 10 Marketing Concepts<br />Chapter 20 <br />Introduicng New Market Offerings Marketing Mangement<br />Philip Kotler , Kevin Lane Keller 13th Edition<br />PaoVirata<br />September 2011<br />Prof. Bong De Ungria<br />pRUNSViRATA<br />www.prunsvirata.blogspot.com<br />

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