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Mkt 100 021 - week 10 -product management

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Mkt 100 021 - week 10 -product management

  1. 1. Welcome to<br />MKT 100-021Week 10– Product Mgmt<br />Anthony<br />Francescucci<br />Assistant Professor, Marketing<br />Please ensure all electronic devices are in “silent mode”, “vibrate mode” or “turned off”<br />1<br />
  2. 2. Agenda<br />2<br />
  3. 3. Assignment 1<br />Summary Feedback<br />3<br />
  4. 4. Areas that you did well<br />Discussing implications for your strengths, weaknesses, opportunities and threats<br />SWOT tables and Prioritization tables<br />points were under the appropriate headings<br />Recommendation sections were well done for the most part <br />good overview of your SWOT analysis which supported your decision to offer the internet-based video streaming service or not<br />4<br />
  5. 5. Areas to improve upon<br />RESEARCH, RESEARCH, RESEARCH to support your claims (cannot be based on your personal experience or opinion)<br />When discussing your SWOT, some reports lacked clarity in specifics pertaining to the decision at hand (very general statements were made) <br />Example: consumer preferences are constantly changing. You need to explain what preferences are changing and why this is relevant to your decision <br />Always remember your executive summary should provide the reader a thorough overview of your entire report. In this section there was not enough detail of your SWOT analysis. <br />APA Works Citedis ALWAYS double-spaced, with hanging lines indented, in alphabetical order. In-text citations are cited as (author, year). Not using footnotes or numbers.<br />5<br />
  6. 6. Product Development<br />6<br />
  7. 7. Superior product innovation leads to features that better fit customer segment benefits and increase shareholder value. The product development process must produce the innovations that drive profit, shareholder value, customer value, brand reputation and equity.<br />Product<br />Customer<br />Profit<br />Introduction<br />7<br />
  8. 8. Sources of Innovations<br />Lithium batteries in watches<br />Using baking soda as a deodorizer<br />IBM Personal computer<br />Incorporation of supplier’s innovation<br />Design simplification of existing product<br />New ideas from employees<br />Soft soap, microwave ovens<br />Diet Pepsi<br />Copying and improving competitors’ innovation<br />Idea Generation and Concept Development<br />Existing specialized industrial product<br />New technology from pure research<br />New ideas from the channel<br />Doctors recommending aspirin to prevent heart attacks<br />DuPont’s invention of nylon<br />New ideas from consumers<br />Copying innovations in foreign markets<br />TV programs<br />Lite beer<br />8<br />
  9. 9. Product Management<br />Characteristics & classifications<br />9<br />
  10. 10. Product<br />More than tangible offering;<br />anything that can be offered <br />to a market to satisfy <br />a want or need.<br />10<br />
  11. 11. Product Classifications<br />11<br />
  12. 12. Product Classifications<br />12<br />
  13. 13. Product classification <br />13<br />
  14. 14. Product classification <br />14<br />
  15. 15. Product Classifications Cont'd<br />15<br />
  16. 16. Product Classifications Cont'd<br />16<br />
  17. 17. Differentiation<br />17<br />
  18. 18. Product Differentiation<br />18<br />
  19. 19. Product-Line Decisions<br />19<br />
  20. 20. Product Mix<br />Product Mix<br />Width<br />Product Mix Length<br />20<br />
  21. 21. Product –Line length<br />21<br />
  22. 22. Services<br />22<br />
  23. 23. 13-23<br />Service<br />Any act of performance that one<br />party can offer another that is <br />essentially intangible and does not<br />result in the ownership of anything;<br />its production may or may not<br />be tied to a physical product.<br />
  24. 24. Continuum of SERVICE / PRODUCT Evaluation<br />24<br />
  25. 25. High experience & credence qualities<br />25<br />
  26. 26. Intangibility<br />Inseparability<br />Variability<br />Perishability<br />Distinctive Characteristics of Services<br />26<br />
  27. 27. TANGIBILIZING THE INTANGIBLE<br />Place<br />People<br />Equipment<br />Communication material<br />Symbols<br />Price<br />27<br />
  28. 28. How to REDUCE VARIABILITY<br />Invest in good hiring and training procedures<br />Standardize the service-performance process<br />Monitor customer satisfaction<br />28<br />
  29. 29. How to reduce perishability<br />29<br />
  30. 30. Any Questions<br />30<br />
  31. 31. Let’s revisit Segmentation<br />31<br />
  32. 32. What are Some potential Segments for IPAD ?<br />32<br />
  33. 33. Let’s Focus in on Entertainment Segment<br />33<br />Remember to include sources to support your claims re: characteristics<br />
  34. 34. Segment Potential<br />EcoSpout<br />Case<br />34<br />
  35. 35. How Might we segment The Market for Eco-spout ?<br />35<br />
  36. 36. Let’s Focus in on Household Plant Segment<br />36<br />
  37. 37. Target Profit Feasibility analysis Process<br />37<br />
  38. 38. Estimate the Segment Size<br />100 Million Households<br />80%<br />40%<br />32 Million Households<br />38<br />http://www.nationalgardenmonth.org/index.php?page=storyline-houseplants<br />
  39. 39. Let’s work with Target Break-even<br />39<br />
  40. 40. What do we know from the case?<br />40<br />Is there a profitable market segment to target for this product?<br />
  41. 41. Wholesale Revenue Per Unit<br />41<br />
  42. 42. $71,000<br />+<br />$14,200<br />= $85,200<br />284,000<br />units<br />$0.90 <br />-<br /> $0.60<br />= $0.30<br />20%<br />$14,200<br />$71,000<br />Target Volume to achieve profit<br />42<br />
  43. 43. Likelihood of Attaining Target Volume<br />43<br />
  44. 44. Estimated Likely demand<br />44<br />
  45. 45. Assignment 2<br />Financial Template<br />45<br />
  46. 46. Financial Analysis Template<br />46<br />
  47. 47. Any Questions About the assignment<br />47<br />
  48. 48. Before you leave today<br />Hand In:<br />48<br />
  49. 49. See you next Week<br />49<br />

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