Ch12 Setting Product Strategy Maica Sy
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The document discusses key concepts for setting a product strategy. It defines product and explains that products can satisfy customer needs and wants. It describes that products follow a hierarchy and can be classified into 5 levels from core benefit to potential product. Finally, it notes that products are differentiated into categories and packaging is used as a marketing tool to identify the brand.
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This presentation presents the meaning of product development, the key stages of product development and the importance of research, sensory evaluation and consumer testing.
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New product development involves making changes to existing products or introducing new products. There is a defined 8-stage process for new product development that includes idea generation, screening, concept development and testing, marketing strategy development, business analysis, product development, market testing, and determining a roll-out strategy. The goal is to balance risk and potential payoff when bringing new products to existing markets or entering new markets.
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This document outlines the key steps in the product planning process, which includes exploration of ideas, screening ideas, detailed business analysis, development, test marketing, and commercialization. It notes that product planning serves as the basis for decisions about price, distribution, and promotion. The document also emphasizes that product planning is an ongoing process rather than a one-time event, to allow for weighing new information and adapting to changes over the product development cycle.
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Product management
This document discusses product management and defines what constitutes a product. It begins by stating that a product can be anything offered in a market for attention, acquisition, use or consumption that satisfies a want or need. Products include both tangible goods like phones and computers, as well as intangible services.
The document then outlines different levels of products from the core product to the augmented product. It also classifies products as either consumer or industrial and discusses the individual, line, and mix decisions marketers make regarding products. Specific examples are provided, such as the product lines of Coca-Cola and the product mix of ITC Limited in India.
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The document discusses various topics related to products, including definitions of what constitutes a product, different types of products, and strategies for developing and managing product mixes. It provides examples of how companies like Google have developed innovative product offerings and leveraged strong customer focus to achieve success. Product development involves determining customer needs through research and balancing the marketing mix and customer relationship management.
products, services & brands
The document discusses different levels of products, types of consumer and industrial products, and key decisions in developing products. It defines three levels of a product: the core product which addresses the core customer benefit, the actual product which delivers the core benefit, and the augmented product which provides additional services. Consumer products are classified into convenience products, shopping products, specialty products, and unsought products. Industrial products include materials and parts, capital items, and supplies and services. The document also outlines important product development decisions around attributes, branding, packaging, labeling, and support services.
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4. If the business plan is attractive, product development creates the finished product and tests it with users before launch.
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The document provides information on product mix, product line, product life cycle, branding, and marketing strategies at different stages of the product life cycle. It defines a product mix as the set of all product lines and items offered by a seller. A product line refers to a unique product category or brand offered that are closely related. The four stages of a product's life cycle are introduction, growth, maturity, and decline. Marketing strategies vary at each stage, from promotion to raise awareness in introduction to price cuts in decline. Branding helps create consumer preference and loyalty for a product.
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This document discusses products and product management. It begins by defining what a product is and identifying five levels of a product from the core benefit to potential future transformations. It then discusses classifying products in various ways such as consumer goods versus industrial goods. A major section covers the product life cycle and how marketing strategies must change at each stage from introduction to decline. Next, it addresses developing new products through the multi-stage process. Other topics include defining product mix and the objectives and importance of packaging and labeling.
principles of marketing unit 3.pptx
The document discusses various concepts related to marketing mix and products. It covers customer insights, the 7Ps framework, the 4Cs of marketing, market management functions, definitions of a product, product classification, product mix, product life cycle, and the diffusion/adoption process.
The key points are:
1) Customers care about problems a product solves rather than features. Products should solve customer problems better than competitors.
2) The document defines concepts like the marketing mix, product mix, product classification, product life cycle stages, and diffusion of innovations adoption curve.
3) Strategies are discussed for different product life cycle stages like introduction, growth, maturity, and decline.
Product Mix and Product Classification by Neeraj Bhandari ( Surkhet.Nepal )
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1. A Informative Slides On HERB + DRUG Interaction VANDANA JANGHEL Assistant Professor (M. Pharma, Pharmacognosy) (Siddhi Vinayaka Institute of Technology & Sciences, Bilaspur, C.G.) What comes from Nature + What we change in nature + What we don’t want
2. 1. What are Herb-drug interactions? 2. How herbs interact with other co administered drug ? 3. Whether they are diagnoised? 4. Are they neglected? 5. Any reports available ? 6. What is the significance of the study ? 7. Need for the study We will discuss on following points HERB + DRUG Interaction
3. Herb drugs + Allopathic drug = Some Reactions HERB + DRUG Interaction 1. When herbal medicinal products and western drugs administered together may interact each other in body leading to kinetic and dynamic alterations. 2. Herbs are often administered in combination with therapeutic drugs, raising the potential of herb-drug interactions. 3. Herbs or Herbal drugs often taken with the Allopathic drugs with belief that it will have some Beneficial effect. 4. Most of the herbal drugs are taken because of- Availability, Economic consideration and its safety
4. PharmacodynamicPharmacokinetics Herb may causes Additive Synergistic Antagonistic Unidentified Response activity in relation to conventional drug Change the Absorption Distribution Metabolism Protein binding Excretion of the drug thus changing blood level of drug HERB + DRUG Interaction
5. Diagnosis Evidence of Interaction Preclinical Trials Clinical Trials Case studies from pharmacovigilance 1 2 3
6. 1. Drug interaction is the 4th to 6th cause of death in the world. 2. About 70-80 herbs may increase the risk of bleeding. 3. Aristolochic acid from Kidamari (Aristolochia Bracteolata) is toxic. 4. Ephedra (Somlata) caused more than 54 deaths and 1600 cases of adverse reaction. Facts about Herbal Drug Interactions
7. 1. Clinician lack of adequate knowledge about Drug-herb Interaction 2. No quality control and assurance for the purity and safety. 3. No advance research in this field. 4. Blind believe or over believe in Ayurverdic medicine 5. Avoidance of patient history about drug sensitivity 6. Adulteration in herbal drug Reason for Herb-Drug Interaction Less Knowledge No Quality Control No Documentation Mythological Believe Herbal-Drug Interaction
8. PHARMACOKINETIC INTERACTION Parameter Increases Decreases Absorption Ginger Fibers Green tea Mucilage containing herb Black pepper Mucilage containing herb Metabolism Guggul Grape juice Elimination Laxative (Aloe) Liquorices Diuretics herbs
9. ALOE VERA Interferes with drug absorption through Laxative action (Aloe latex) Decrease transit time Decrease Intestinal Fluids GINGKO BILOBA Decrease effectiveness of Alprazolam by decreasing its absorption. Ginkgo decreases absorption of Alprazolam rather than inducing hepatic metabolism of alprazolam. GINGER Enhance the absorption of sulfaguanidine and decreases blood sugar PHARMACOKINETIC INTERACTION Herbal drugs which shows Interaction related to Absorption
1
New product development in Marketing Mansgement
The document outlines the 7 major stages of product development: 1) Idea Generation, 2) Idea Screening, 3) Concept Development and Testing, 4) Marketing Strategy and Business Analysis, 5) Product Development, 6) Test Marketing, and 7) Commercialization. It provides details about each stage and uses the example of developing a food delivery app to illustrate the process.
Chapter IV_Marketing Mix.pptx
This document discusses the four elements of the marketing mix - product, price, place, and promotion. It focuses on product and packaging, explaining that packaging serves to contain, protect, and sometimes identify and promote the product. Legal requirements and factors like quantity, physical attributes, and shape must be considered for packaging. Labeling displays information about the product and establishes its image, important features, and regulatory compliance. Pricing strategies are also examined like mark-up pricing and loss leader pricing. The roles of intermediaries and different distribution channels in the place element are defined.
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The document discusses product positioning, new product opportunities, and the product development process. It provides details on:
- Product positioning involves determining how to communicate a product's attributes to target customers based on their needs, competitive pressures, and communication channels.
- New product opportunities arise when there is a chance to create or improve products based on emerging trends by meeting conscious and unconscious customer needs.
- The product development process involves idea generation, screening, concept development and testing, marketing strategy development, business analysis, product development, market testing, and commercialization to bring a new product to market successfully.
- Key factors that contribute to new product success include market orientation, knowledge management, top management support, technology,
Product Life Cycle (Managing Products and Brands)
1) The document discusses marketing management and the product life cycle concept. It explains the different stages a new product goes through, from introduction to growth, maturity, and decline.
2) Product managers monitor sales and market share trends to manage how products are modified, marketed to new audiences, or repositioned throughout the life cycle. Branding, packaging, and labeling strategies are also reviewed.
3) Successful branding builds brand equity and loyalty by developing brand awareness and positive associations in consumers' minds through marketing programs. Packaging and labeling identify products and convey important information to customers.
market profile in business plan
This document discusses product launching and marketing to target markets. It covers four types of product launches: breaking in to an existing market by differentiating the new product, breaking ground by creating a new category, brand extensions that leverage existing brand equity, and conquering new territories by marketing existing products to new customer groups. It also discusses using market research, product design, distribution channels, customer service and marketing communications to cater to the target market. Finally, it defines a unique selling proposition as a specific benefit that differentiates a business from its competitors.
Marketing - Product Management
This presentation contains the topics of Product Management-Marketing. It is an easy to understand presentation which is helpful for interview also.
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At the heart of any good business is a care for the brand. At BIG we are exploring this business model to uncover the value of branding in the marketing and sales process
New Product Development.pptx
This document outlines the new product development process. It discusses:
1. The different types of new products including those new to the world, new product lines, additions to existing lines, and improvements/revisions.
2. The 8 main steps in new product development: idea generation, idea screening, concept development and testing, marketing strategy development, business analysis, product development, market testing, and commercialization.
3. Within idea generation, it discusses techniques for generating ideas internally and externally, and the "4 U's" framework for evaluating ideas.
Unit 3.pptx
The document discusses product development and management. It defines a product as anything that can satisfy a want or need in the market, including both tangible goods and intangible services. It then outlines the different levels of a product from the core benefit to augmentations. It also classifies products based on durability, tangibility, and whether they are consumer or industrial goods. The document concludes by describing the seven stages of new product development: idea generation, idea screening, concept development and testing, marketing strategy development, business analysis, product development, and test marketing.
Product development and life cycle strategies
This document discusses product development and the product life cycle. It begins by outlining the key topics to be covered, including the new product development process and how marketing strategies change during a product's life cycle. It then provides details on each step of new product development, from idea generation through commercialization. It also outlines the four main stages of the product life cycle - introduction, growth, maturity, and decline - and describes typical marketing strategies used during each phase.
Product mix
This document discusses product mix and the product life cycle. It defines what a product is and describes the different levels and classifications of products. It also outlines the new product development process and the stages involved, from idea generation to commercialization. Additionally, it explains the product life cycle framework, how sales and profits change at different stages from introduction to decline, and the appropriate marketing strategies to use in each stage. Limitations of the product life cycle model are also noted.
New Product Development
New Product Development - Tips from Shed to Shop. For a FREE downloadable version please visit www.incrementa.co.uk
The Product Concept
The slideshow discusses about the product, product classification, product mix, new product development process, product life cycle (PLC) etc and other related concepts
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Product Mix and Product Classification by Neeraj Bhandari ( Surkhet.Nepal )
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Ch12 Setting Product Strategy Maica Sy
- 1. Setting Product Strategy Maica Sy Ateneo Graduate School of Business V60 Marketing Management Professor Bong De Ungria May 9, 2013
- 2. 6 Key Concepts Product 1. Purpose is to satisfy wants and needs 2. Following a hierarchy with a sequence 3. To be classified in 5 different levels 4. Determined in ways to classify the products 5. Emerging to different categories 6. And sets objectives to identify the brand
- 3. What is Product? • Most important element of marketing mix • Anything offered to the market to satisfy customers’ needs, wants, & demands. Concept 1
- 4. SM Products • Products can be goods, services, entertainments, events, places and ideas. Events Goods Services Example 1
- 5. Product Hierarchy Item Product Type Product Line Product Class Product Family Need Family Concept 2
- 6. SM Dept. Store Product Hierarchy Example 2
- 8. 5 Product Levels • Core Benefit : Transportation from one place to another. • Actual Product : Brand of the car, looks and design of the car. Example 3
- 9. 5 Product Levels • Expected Product : Decent mileage, proper engine, inflated tires. • Augmented Product : After-sale services, insurance policy. Example 3
- 10. 5 Product Levels • Potential Product : May run more smoothly as it wears off a little. Example 3
- 11. Product Classification • For marketing mix strategy Concept 4
- 12. Product Classification • Organizes products for a variety of purposes. Durable- a good that does quickly wear out Non-durable- goods that are immediately consumed. Service- an intangible commodity Example 4
- 13. Product Mix • Is an array of all products a particular seller is putting up for sale. Concept 5
- 14. Emerging to Fashion Trends Example 5
- 15. Packaging • Used as a marketing tool • Includes all activities of designing and producing the container of the product Concept 6
- 16. Selling the Product by Packaging • To identify brand • Convey descriptive Concept 6
- 17. Selling the Product by Packaging • Facilitate product transportation & protection • Aid product & consumer consumption Concept 6
- 18. Selling the Product by Packaging Example 6
- 19. Remember This! Mastering Marketing Concepts through Stories, Images, & Diagrams
- 20. Concept 5: Emerging to different categories • To cope up with the current trends to be able to make it on top.
- 21. 6 Key Concepts Product 1. It’s main purpose is to satisfy wants and needs 2. Following a hierarchy with a sequence 3. To be classified in 5 different levels 4. That is determined in ways to classify the products 5. That are differentiated by 9 factors 6. And sets objectives to identify the brand
- 22. Setting Product Strategy Maica Sy Ateneo Graduate School of Business V60 Marketing Management Professor Bong De Ungria May 9, 2013