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

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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

  1. 1. TOP 10 Learning Questions for Chapter 20 Introducing New Market Offerings Louie Mark Quizon April 15, 2011 http://louiemarkquizon.blogspot.com
  2. 2. Questions To Concepts <ul><li>Keep Developing New Products </li></ul><ul><li>Stimulate Creativity in Individuals and Groups </li></ul><ul><li>Stimulate Creativity in Individuals and Groups </li></ul><ul><li>Satisfy New or Different Needs </li></ul><ul><li>How Can New Products Fail? </li></ul><ul><li>Management Decisions for Test Marketing </li></ul>http://louiemarkquizon.blogspot.com
  3. 3. <ul><li>Consumer Adoption Process </li></ul><ul><li>How Adopters are Categorized </li></ul><ul><li>How Adopters are Categorized </li></ul><ul><li>What features distinguishes an innovation? </li></ul>Questions To Concepts http://louiemarkquizon.blogspot.com
  4. 4. Questions To Concepts <ul><li>Keep Developing New Products </li></ul><ul><li>Stimulate Creativity in Individuals and Groups </li></ul><ul><li>Stimulate Creativity in Individuals and Groups </li></ul><ul><li>Satisfy New or Different Needs </li></ul><ul><li>How Can New Products Fail? </li></ul><ul><li>Management Decisions for Test Marketing </li></ul>http://louiemarkquizon.blogspot.com
  5. 5. 1. Relative to its established products like Explosive Menthol Red and Outrageous Blue Chill, Hapee Toothpaste’s GumTect is an example of ___________ <ul><li>New to the world product </li></ul><ul><li>New product line </li></ul><ul><li>Improved product </li></ul><ul><li>Addition to existing product lines </li></ul><ul><li>Repositioned product </li></ul>http://louiemarkquizon.blogspot.com
  6. 6. New-to-the-world New product lines http://louiemarkquizon.blogspot.com Keep Developing New Products
  7. 7. New-to-the-world New product lines http://louiemarkquizon.blogspot.com New products that create an entirely new market
  8. 8. 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
  9. 9. Additions Improvements http://louiemarkquizon.blogspot.com New products that supplement established product lines
  10. 10. Additions Improvements http://louiemarkquizon.blogspot.com Provide improved performance or greater perceived value and replace existing products
  11. 11. Repositionings Cost Reductions http://louiemarkquizon.blogspot.com Products that are targeted to new markets or market segments
  12. 12. Repositionings Cost Reductions http://louiemarkquizon.blogspot.com New products that provide similar performance at a lower cost
  13. 13. http://louiemarkquizon.blogspot.com Established product lines of Hapee Example: Hapee Toothpaste
  14. 14. http://louiemarkquizon.blogspot.com Additional to existing product lines Supplements a company’s existing product lines Example: Hapee Toothpaste
  15. 15. 1. Relative to its established products like Explosive Menthol Red and Outrageous Blue Chill, Hapee Toothpaste’s GumTect is an example of ___________ <ul><li>New to the world product </li></ul><ul><li>New product line </li></ul><ul><li>Improved product </li></ul><ul><li>Addition to existing product lines </li></ul><ul><li>Repositioned product </li></ul>http://louiemarkquizon.blogspot.com
  16. 16. Questions To Concepts <ul><li>Keep Developing New Products </li></ul><ul><li>Stimulate Creativity in Individuals and Groups </li></ul><ul><li>Stimulate Creativity in Individuals and Groups </li></ul><ul><li>Satisfy New or Different Needs </li></ul><ul><li>How Can New Products Fail? </li></ul><ul><li>Management Decisions for Test Marketing </li></ul>http://louiemarkquizon.blogspot.com
  17. 17. 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? <ul><li>New contexts </li></ul><ul><li>Reverse assumption analysis </li></ul><ul><li>Forced relationships </li></ul><ul><li>Mind mapping </li></ul><ul><li>Morphological analysis </li></ul>http://louiemarkquizon.blogspot.com
  18. 18. 3. Which of the following statements in creativity techniques is false? <ul><li>In attribute listing, list first the attributes of an object and then modify </li></ul><ul><li>In forced relationships, list several ideas and consider each one in relation to another. </li></ul><ul><li>In morphological analysis, many solutions can be generated by the combination of ideas </li></ul><ul><li>In reverse assumption analysis, take a familiar concept and put it in a new context </li></ul><ul><li>In mind mapping, you should create associations with each new idea </li></ul>http://louiemarkquizon.blogspot.com
  19. 19. Stimulate Creativity in Individuals and Groups! http://louiemarkquizon.blogspot.com
  20. 20. Stimulate Creativity in Individuals and Groups! http://louiemarkquizon.blogspot.com
  21. 21. Example: TeamManila’s Creativity Generation – New Context http://louiemarkquizon.blogspot.com <ul><li>Familiar Process: </li></ul><ul><ul><li>Company designers choose designs to sell </li></ul></ul><ul><li>New Context: </li></ul><ul><ul><li>Customers choose what designs to sell </li></ul></ul>
  22. 22. 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? <ul><li>New contexts </li></ul><ul><li>Reverse assumption analysis </li></ul><ul><li>Forced relationships </li></ul><ul><li>Mind mapping </li></ul><ul><li>Morphological analysis </li></ul>http://louiemarkquizon.blogspot.com
  23. 23. 3. Which of the following statements in creativity techniques is false? <ul><li>In attribute listing, list first the attributes of an object and then modify </li></ul><ul><li>In forced relationships, list several ideas and consider each one in relation to another. </li></ul><ul><li>In morphological analysis, many solutions can be generated by the combination of ideas </li></ul><ul><li>In reverse assumption analysis, take a familiar concept and put it in a new context </li></ul><ul><li>In mind mapping, you should create associations with each new idea </li></ul>http://louiemarkquizon.blogspot.com
  24. 24. Questions To Concepts <ul><li>Keep Developing New Products </li></ul><ul><li>Stimulate Creativity in Individuals and Groups </li></ul><ul><li>Stimulate Creativity in Individuals and Groups </li></ul><ul><li>Satisfy New or Different Needs </li></ul><ul><li>How Can New Products Fail? </li></ul><ul><li>Management Decisions for Test Marketing </li></ul>http://louiemarkquizon.blogspot.com
  25. 25. <ul><li>Vertical </li></ul><ul><li>Lateral </li></ul><ul><li>Diagonal </li></ul><ul><li>Both A and B </li></ul><ul><li>None </li></ul>http://louiemarkquizon.blogspot.com 4. A Shell gas station with a Shell Select store is an example of _________ marketing?
  26. 26. Gas Station Transform a Product to Satisfy New or Different Needs through Lateral Marketing! http://louiemarkquizon.blogspot.com Cafeteria Cereal Candy Audio
  27. 27. 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
  28. 28. Shell Gas Station Food http://louiemarkquizon.blogspot.com Example: Shell and Shell Select Store
  29. 29. Shell Gas Station with Select Store http://louiemarkquizon.blogspot.com Example: Shell and Shell Select Store
  30. 30. <ul><li>Vertical </li></ul><ul><li>Lateral </li></ul><ul><li>Diagonal </li></ul><ul><li>Both A and B </li></ul><ul><li>None </li></ul>http://louiemarkquizon.blogspot.com 4. A Shell gas station with a Shell Select store is an example of _________ marketing?
  31. 31. Questions To Concepts <ul><li>Keep Developing New Products </li></ul><ul><li>Stimulate Creativity in Individuals and Groups </li></ul><ul><li>Stimulate Creativity in Individuals and Groups </li></ul><ul><li>Satisfy New or Different Needs </li></ul><ul><li>How Can New Products Fail? </li></ul><ul><li>Management Decisions for Test Marketing </li></ul>http://louiemarkquizon.blogspot.com
  32. 32. 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? <ul><li>Capital shortages </li></ul><ul><li>Social and government constraints </li></ul><ul><li>Costs of development </li></ul><ul><li>A and B </li></ul><ul><li>A and C </li></ul>http://louiemarkquizon.blogspot.com
  33. 33. How Can New Products Fail? http://louiemarkquizon.blogspot.com Shortage of ideas Fragmented markets
  34. 34. Few ways left to improve products http://louiemarkquizon.blogspot.com Shortage of ideas Fragmented markets
  35. 35. Smaller market segments = Lower Sales and Profits http://louiemarkquizon.blogspot.com Shortage of ideas Fragmented markets
  36. 36. http://louiemarkquizon.blogspot.com Social and governmental constraints Costs of development Consumer safety and environmental concerns
  37. 37. http://louiemarkquizon.blogspot.com Social and governmental constraints Costs of development High R&D, manufacturing, and marketing costs
  38. 38. http://louiemarkquizon.blogspot.com Capital shortages Faster required development time Lack funds for research and launching
  39. 39. http://louiemarkquizon.blogspot.com Capital shortages Faster required development time Compress development time
  40. 40. http://louiemarkquizon.blogspot.com Shorter product life cycles Rivals - quick to copy successful products
  41. 41. http://louiemarkquizon.blogspot.com Social and governmental constraints <ul><li>Nuclear waste concern </li></ul><ul><li>House Bill 4631 is losing proponents </li></ul>Example: Bataan Nuclear Power Plant
  42. 42. <ul><li>Capital shortages </li></ul><ul><li>Social and government constraints </li></ul><ul><li>Costs of development </li></ul><ul><li>A and B </li></ul><ul><li>A and C </li></ul>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
  43. 43. Questions To Concepts <ul><li>Keep Developing New Products </li></ul><ul><li>Stimulate Creativity in Individuals and Groups </li></ul><ul><li>Stimulate Creativity in Individuals and Groups </li></ul><ul><li>Satisfy New or Different Needs </li></ul><ul><li>How Can New Products Fail? </li></ul><ul><li>Management Decisions for Test Marketing </li></ul>http://louiemarkquizon.blogspot.com
  44. 44. 6. The following are decisions that management faces in consumer-goods market testing except: <ul><li>How many test cities? </li></ul><ul><li>Which cities? </li></ul><ul><li>Length of test? </li></ul><ul><li>What information? </li></ul><ul><li>None of the above </li></ul>http://louiemarkquizon.blogspot.com
  45. 45. Management Decisions for Test Marketing http://louiemarkquizon.blogspot.com How many test cities? Which cities?
  46. 46. Most tests use between 2 and 6 http://louiemarkquizon.blogspot.com How many test cities? Which cities?
  47. 47. Must develop selection criteria http://louiemarkquizon.blogspot.com How many test cities? Which cities?
  48. 48. http://louiemarkquizon.blogspot.com Length of test? What information to collect? Typically few months to a year
  49. 49. http://louiemarkquizon.blogspot.com Length of test? What information to collect? Consumer panels, buyer surveys, etc.
  50. 50. http://louiemarkquizon.blogspot.com What action to take? Relationship between trial and repurchase rates
  51. 51. 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
  52. 52. 6. The following are decisions that management faces in consumer-goods market testing except: <ul><li>How many test cities? </li></ul><ul><li>Which cities? </li></ul><ul><li>Length of test? </li></ul><ul><li>What information? </li></ul><ul><li>None of the above </li></ul>http://louiemarkquizon.blogspot.com
  53. 53. <ul><li>Consumer Adoption Process </li></ul><ul><li>How Adopters are Categorized </li></ul><ul><li>How Adopters are Categorized </li></ul><ul><li>What features distinguishes an innovation? </li></ul>Questions To Concepts http://louiemarkquizon.blogspot.com
  54. 54. 7. ________ is an individual’s decision to become a regular user of the product <ul><li>Awareness </li></ul><ul><li>Interest </li></ul><ul><li>Evaluation </li></ul><ul><li>Trial </li></ul><ul><li>Adoption </li></ul>http://louiemarkquizon.blogspot.com
  55. 55. http://louiemarkquizon.blogspot.com How does a Consumer Adopt to a New Product and Service?
  56. 56. http://louiemarkquizon.blogspot.com The consumer becomes aware of the innovation but lacks information about it
  57. 57. http://louiemarkquizon.blogspot.com The consumer is stimulated to seek information about the innovation
  58. 58. http://louiemarkquizon.blogspot.com The consumer considers whether to try the innovation
  59. 59. http://louiemarkquizon.blogspot.com The consumer tries the innovation to improve his or her estimate of its value
  60. 60. http://louiemarkquizon.blogspot.com The consumer decides to make full and regular use of the innovation
  61. 61. http://louiemarkquizon.blogspot.com Example: Juan’s adoption of Mang Inasal
  62. 62. http://louiemarkquizon.blogspot.com Example: Juan’s adoption of Mang Inasal
  63. 63. http://louiemarkquizon.blogspot.com Juan becomes aware of this new restaurant that serves Chicken Inasal at a low price…
  64. 64. http://louiemarkquizon.blogspot.com The low price and the unlimited rice intrigues him to seek more information…
  65. 65. http://louiemarkquizon.blogspot.com He contemplates on whether he will try the product…
  66. 66. http://louiemarkquizon.blogspot.com He tries the product to feed his curiousness…
  67. 67. http://louiemarkquizon.blogspot.com Juan likes Mang Inasal very much! He then decides to go there every Friday.
  68. 68. 7. ________ is an individual’s decision to become a regular user of the product <ul><li>Awareness </li></ul><ul><li>Interest </li></ul><ul><li>Evaluation </li></ul><ul><li>Trial </li></ul><ul><li>Adoption </li></ul>http://louiemarkquizon.blogspot.com
  69. 69. <ul><li>Consumer Adoption Process </li></ul><ul><li>How Adopters are Categorized </li></ul><ul><li>How Adopters are Categorized </li></ul><ul><li>What features distinguishes an innovation? </li></ul>Questions To Concepts http://louiemarkquizon.blogspot.com
  70. 70. 8.Which statements is/are true in adopter categorization? <ul><li>Innovators are opinion leaders </li></ul><ul><li>Late majority are skeptical conservatives </li></ul><ul><li>Laggards are tradition bound and resists innovation </li></ul><ul><li>A and B </li></ul><ul><li>B and C </li></ul>http://louiemarkquizon.blogspot.com
  71. 71. 9. ________ are opinion leaders who carefully search for new technologies that might give them a dramatic competitive advantage <ul><li>Innovators </li></ul><ul><li>Early adopters </li></ul><ul><li>Early Majority </li></ul><ul><li>Late Majority </li></ul><ul><li>Laggards </li></ul>http://louiemarkquizon.blogspot.com
  72. 72. 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
  73. 73. 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
  74. 74. 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
  75. 75. 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
  76. 76. 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
  77. 77. 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
  78. 78. <ul><li>Companies use Personal Influence to influence: </li></ul><ul><ul><li>Early adopters </li></ul></ul><ul><ul><li>Late adopters </li></ul></ul>How Companies use Personal Influence http://louiemarkquizon.blogspot.com
  79. 79. Example: Kris Aquino’s Cervical Cancer Vaccine Advertisement http://louiemarkquizon.blogspot.com Kris Aquino = known trendsetter Ad uses Kris to influence adopters
  80. 80. <ul><li>Innovators are opinion leaders </li></ul><ul><li>Late majority are skeptical conservatives </li></ul><ul><li>Laggards are tradition bound and resists innovation </li></ul><ul><li>A and B </li></ul><ul><li>B and C </li></ul>8.Which statements is/are true in adopter categorization? http://louiemarkquizon.blogspot.com
  81. 81. <ul><li>Innovators </li></ul><ul><li>Early adopters </li></ul><ul><li>Early Majority </li></ul><ul><li>Late Majority </li></ul><ul><li>Laggards </li></ul>9. ________ are opinion leaders who carefully search for new technologies that might give them a dramatic competitive advantage http://louiemarkquizon.blogspot.com
  82. 82. <ul><li>Consumer Adoption Process </li></ul><ul><li>How Adopters are Categorized </li></ul><ul><li>How Adopters are Categorized </li></ul><ul><li>What features distinguishes an innovation? </li></ul>Questions To Concepts http://louiemarkquizon.blogspot.com
  83. 83. 10. In the characteristics of an innovation, the following statements are true except: <ul><li>Relative advantage is the degree to which a superseded idea is better than the innovation </li></ul><ul><li>Compatibility is the degree to which the innovation matches the values/norms of adopters </li></ul><ul><li>Complexity is the degree of difficulty in understanding or using the innovation </li></ul><ul><li>Divisibility is the degree to which an innovation can be tried on a limited basis </li></ul><ul><li>Communicability is the degree to which the beneficial results of use are observable or describable to others </li></ul>http://louiemarkquizon.blogspot.com
  84. 84. What are the Features that Distinguishes an Innovation? http://louiemarkquizon.blogspot.com Relative Advantage Compatibility
  85. 85. Innovation = better than the superseded idea http://louiemarkquizon.blogspot.com Relative Advantage Compatibility
  86. 86. Harmony between innovation and values/norms of adopters http://louiemarkquizon.blogspot.com Relative Advantage Compatibility
  87. 87. http://louiemarkquizon.blogspot.com Complexity Divisibility Gauge of difficulty in understanding/using the innovation
  88. 88. http://louiemarkquizon.blogspot.com Complexity Divisibility Tried on a limited basis?
  89. 89. http://louiemarkquizon.blogspot.com Communicability Beneficial results are observable and describable
  90. 90. http://louiemarkquizon.blogspot.com Relative Advantage <ul><li>Same alcohol content </li></ul><ul><li>Less calories </li></ul>VS Example: San Miguel Beer Light
  91. 91. http://louiemarkquizon.blogspot.com Compatibility Product well adopted by young professionals Example: San Miguel Beer Light
  92. 92. http://louiemarkquizon.blogspot.com Complexity Divisibility Low Low Communicability High Example: San Miguel Beer Light
  93. 93. 10. In the characteristics of an innovation, the following statements are true except: <ul><li>Relative advantage is the degree to which a superseded idea is better than the innovation </li></ul><ul><li>Compatibility is the degree to which the innovation matches the values/norms of adopters </li></ul><ul><li>Complexity is the degree of difficulty in understanding or using the innovation </li></ul><ul><li>Divisibility is the degree to which an innovation can be tried on a limited basis </li></ul><ul><li>Communicability is the degree to which the beneficial results of use are observable or describable to others </li></ul>http://louiemarkquizon.blogspot.com
  94. 94. Questions To Concepts <ul><li>Keep Developing New Products </li></ul><ul><li>Stimulate Creativity in Individuals and Groups </li></ul><ul><li>Stimulate Creativity in Individuals and Groups </li></ul><ul><li>Satisfy New or Different Needs </li></ul><ul><li>How Can New Products Fail? </li></ul><ul><li>Management Decisions for Test Marketing </li></ul>http://louiemarkquizon.blogspot.com
  95. 95. <ul><li>Consumer Adoption Process </li></ul><ul><li>How Adopters are Categorized </li></ul><ul><li>How Adopters are Categorized </li></ul><ul><li>What features distinguishes an innovation? </li></ul>Questions To Concepts http://louiemarkquizon.blogspot.com
  96. 96. TOP 10 Learning Questions for Chapter 20 Introducing New Market Offerings Louie Mark Quizon April 15, 2011 http://louiemarkquizon.blogspot.com

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