The document discusses the product life cycle (PLC) and key aspects of product development and management. It covers the different stages of the PLC - introduction, growth, maturity, and decline. For each stage, it provides details on marketing objectives, costs, competition, pricing strategies, and more. It also discusses the product development process and includes an example case study of developing a hydrogen-powered vehicle.
Blackberry- Product Life Cycle & Ansoff MatrixKashyap Shah
Product life cycle and Ansoff matrix evaluation for Research In Motion- Blackberry.
This is a part of an assignment done at Symbiosis Institute of Business Management, Bengaluru.
The document discusses branding and marketing strategies at different stages of the product lifecycle. It defines positioning and differentiation strategies. It explains that in the introduction stage, marketing focuses on early adopters through high prices and promotions or low prices and promotions. In the growth stage, sales rapidly increase as more consumers buy the product, competitors enter the market, and prices may fall slightly while promotion is maintained.
The document discusses product trial and repeat purchases. It explains that product trial involves using aspects of the 4Ps like price discounts, free samples, and advertising to get customers to try a new product for the first time. Repeat purchases are important for business success and involve keeping the brand in customers' minds through promotion and ensuring the product meets expectations. Customer loyalty drives repeat purchases and is influenced by factors like value, quality, and satisfaction of customer needs.
This document discusses product and branding strategies. It covers the product life cycle (PLC) model which explains how market response and marketing activities change over a product's lifetime. The PLC includes introduction, growth, maturity, and decline stages. Branding is also discussed as creating relationships with customers through symbols, names, and unique identifiers for products. Strong brands have high brand equity which provides a pricing premium over generic competitors. Packaging is also mentioned as an important part of branding that protects products and communicates with customers.
A product is anything offered by a company to satisfy customer needs, whether an object, service, or idea. Most new products are improvements on existing ones, and less than 5% are totally new concepts. The success rate of new products is very low. Product development involves stages from idea generation to commercialization. Branding associates a name with benefits for customers, creating brand equity that allows companies to charge premium prices and launch extensions. Packaging and labels are important marketing tools that identify products and influence purchasing decisions.
Product and brand management – its interdependence Rahul Mishra HPGD/JL15/3197Rahul Mishra
This document discusses the interdependence between products and brands in marketing. It defines what a product is and outlines the stages of new product development. It then discusses branding, defining what a brand is and the advantages and strategies around branding. Finally, it discusses packaging and how packaging can be used as a marketing tool.
This document outlines competitive strategies for different market positions: market leader, challenger, follower, and nicher.
For market leaders, the strategies discussed are expanding total market demand through new customers, new uses, and more usage. Defensive strategies include positioning defense, flank defense, counteroffensive defense, mobile defense, and contraction defense. Offensive strategies for leaders center around increasing market share through advertising, distribution, pricing, new products, and mergers/acquisitions.
Challengers are advised to directly attack the market leader through price discounts, innovation, distribution changes, and advertising. Specific challenger attacks discussed include flank attacks, encirclement attacks, bypass attacks, frontal attacks, and guerilla attacks
This document discusses brand extensions, including definitions of brand, line extensions, and category extensions. It outlines the advantages of brand extensions such as leveraging brand equity, reducing costs, and providing feedback benefits to the parent brand. Potential disadvantages include confusing consumers, retailer resistance if the extension fails, and diluting the parent brand image. The document provides guidelines for when extensions are appropriate and how consumers evaluate extensions, including having awareness and positive associations about the parent brand that transfer to the extension. It also lists factors that can lead to product failures such as an insufficient market or inaccurate research.
Blackberry- Product Life Cycle & Ansoff MatrixKashyap Shah
Product life cycle and Ansoff matrix evaluation for Research In Motion- Blackberry.
This is a part of an assignment done at Symbiosis Institute of Business Management, Bengaluru.
The document discusses branding and marketing strategies at different stages of the product lifecycle. It defines positioning and differentiation strategies. It explains that in the introduction stage, marketing focuses on early adopters through high prices and promotions or low prices and promotions. In the growth stage, sales rapidly increase as more consumers buy the product, competitors enter the market, and prices may fall slightly while promotion is maintained.
The document discusses product trial and repeat purchases. It explains that product trial involves using aspects of the 4Ps like price discounts, free samples, and advertising to get customers to try a new product for the first time. Repeat purchases are important for business success and involve keeping the brand in customers' minds through promotion and ensuring the product meets expectations. Customer loyalty drives repeat purchases and is influenced by factors like value, quality, and satisfaction of customer needs.
This document discusses product and branding strategies. It covers the product life cycle (PLC) model which explains how market response and marketing activities change over a product's lifetime. The PLC includes introduction, growth, maturity, and decline stages. Branding is also discussed as creating relationships with customers through symbols, names, and unique identifiers for products. Strong brands have high brand equity which provides a pricing premium over generic competitors. Packaging is also mentioned as an important part of branding that protects products and communicates with customers.
A product is anything offered by a company to satisfy customer needs, whether an object, service, or idea. Most new products are improvements on existing ones, and less than 5% are totally new concepts. The success rate of new products is very low. Product development involves stages from idea generation to commercialization. Branding associates a name with benefits for customers, creating brand equity that allows companies to charge premium prices and launch extensions. Packaging and labels are important marketing tools that identify products and influence purchasing decisions.
Product and brand management – its interdependence Rahul Mishra HPGD/JL15/3197Rahul Mishra
This document discusses the interdependence between products and brands in marketing. It defines what a product is and outlines the stages of new product development. It then discusses branding, defining what a brand is and the advantages and strategies around branding. Finally, it discusses packaging and how packaging can be used as a marketing tool.
This document outlines competitive strategies for different market positions: market leader, challenger, follower, and nicher.
For market leaders, the strategies discussed are expanding total market demand through new customers, new uses, and more usage. Defensive strategies include positioning defense, flank defense, counteroffensive defense, mobile defense, and contraction defense. Offensive strategies for leaders center around increasing market share through advertising, distribution, pricing, new products, and mergers/acquisitions.
Challengers are advised to directly attack the market leader through price discounts, innovation, distribution changes, and advertising. Specific challenger attacks discussed include flank attacks, encirclement attacks, bypass attacks, frontal attacks, and guerilla attacks
This document discusses brand extensions, including definitions of brand, line extensions, and category extensions. It outlines the advantages of brand extensions such as leveraging brand equity, reducing costs, and providing feedback benefits to the parent brand. Potential disadvantages include confusing consumers, retailer resistance if the extension fails, and diluting the parent brand image. The document provides guidelines for when extensions are appropriate and how consumers evaluate extensions, including having awareness and positive associations about the parent brand that transfer to the extension. It also lists factors that can lead to product failures such as an insufficient market or inaccurate research.
This document provides an overview of Porter's five generic competitive strategies: low-cost provider, differentiation, best-cost provider, and focus/niche strategies. It includes definitions of each strategy, examples of companies that employ each strategy, and the characteristics that make a strategy suitable for a given competitive environment. The document also discusses the risks and pitfalls that companies should consider for each strategic approach.
The document discusses key concepts in product management including the concept of a product, product life cycle, new product development process, branding, packaging, and labeling. It defines a product as anything that can be offered to a market for attention, acquisition, use or consumption according to Philip Kotler. It outlines the stages of the product life cycle as introduction, growth, maturity, and decline. The new product development process involves idea generation, screening, business analysis, product development, testing, and commercialization. Branding, packaging, and labeling are important elements of product strategy that help identify and differentiate products in the marketplace.
- The document discusses the stages of a product life cycle: introduction, growth, maturity, and decline. It provides details on the objectives, sales, costs, customers, competitors, and marketing strategies at each stage.
- The maturity stage is characterized by peak sales and high profits as the market becomes saturated and sales flatten. Competitors are well established and the focus shifts to reducing expenses and milking brands.
- The document outlines marketing strategies companies can use at different stages, such as defensive strategies in maturity or exploring new markets in decline.
The document discusses various topics related to products and branding, including product life cycles, new product development processes, reasons for product failures, and strategies for branding and product lines. It provides examples to illustrate concepts like different stages in the product life cycle, types of product innovations, and factors that influence the speed of diffusion for new products.
Enterprise Rent-A-Car has grown from a small startup in 1957 to the largest car rental company in North America through strategic use of Ansoff's Matrix growth strategies. It focused on market development by opening airport locations, product development like unique pickup services, and diversification into used car sales. While diversification into food packaging was less successful, it provided valuable learning experience.
The document discusses various topics related to product and brand decisions for global markets. It covers basic concepts like different types of products and consumer goods. It also discusses brands in depth, including definitions of a brand and different branding strategies companies can use internationally. The document also examines considerations for developing global brands versus local brands and strategies for introducing new products globally.
This document provides an overview of chapter 9 from the marketing textbook "Marketing: The Core". It discusses key concepts around products, services, and the new product development process. The learning objectives cover recognizing terms for products and services, classifying consumer and business products/services, describing elements of services, explaining new product "newness", and outlining the new product development process. Key sections define products and services, classify consumer products, outline the uniqueness of services, and describe the 7 stages of new product development including strategy, idea generation, screening, business analysis, development, market testing, and commercialization.
This project was the final project for the Marketing Management 2 course at McGill university. We represented team MAC, and "battled" against team Make Up Forever, a competing cosmetics brand. This project resulted in our team winning the battle, as well as top marks in the class.
The document discusses various aspects of new product development including defining a product, the product mix, product differentiation, the product life cycle, and the new product development process. It explains key terms like the core, actual, and augmented product. It also outlines the different stages in the new product development process from idea generation to commercialization and launch.
Product strategy is like a roadmap, and like a roadmap it’s useful only when you know where you are and where you want to go.The Service Strategy provides guidance on how to design, develop, and implement service management not only as an organizational capability but also as a strategic asset.
This document outlines a product strategy development process. It discusses selecting a product strategy by determining growth vs. profit goals and how to achieve them through existing or new customers. It also covers implementing the core strategy. Additional sections explain the benefits of having a coordinated strategy, positioning a product in the market, managing brand equity over the life cycle, and using the Boston Matrix to analyze a product portfolio at different stages.
The document discusses new product development strategies and the product life cycle. It explains that companies must develop new products to meet consumer needs, drive growth, and adapt to changes. The process of new product development involves idea generation, screening, concept development and testing, marketing strategy, business analysis, product development, test marketing, and commercialization. Most new products fail, so companies carefully evaluate ideas and concepts. Products typically pass through introduction, growth, maturity, and decline stages in their life cycle. Firms must adapt their marketing approach at each stage to maximize profits over the product's lifetime.
The document discusses the marketing mix decisions at different stages of the product life cycle for consumer, industrial and service products. It outlines the key marketing mix elements - product, price, place and promotion - that should be considered at the introductory, growth, maturity and declining stages of the PLC. It also provides examples of different marketing mix strategies such as harvesting, maintenance, profitable survivor and niche that can be used in declining markets.
Products pass through distinct life cycle stages characterized by changing sales, costs, and profits. The four stages are: introduction (low sales, high costs), growth (rising sales and profits), maturity (peak sales, high competition), and decline (falling sales and profits). Strategies must adapt to the challenges of each stage, focusing on creating awareness early, maximizing market share in growth, defending share in maturity, and reducing expenditures in decline. Modifying the product, market, or marketing mix can sometimes prolong the maturity stage.
The document discusses competitive advantage and competitor analysis. It provides objectives for understanding competitors and customers through analysis. It then discusses Intel as an example, focusing on how Intel's competitive strategy of superior value and product innovation has led to success. The document outlines steps for analyzing competitors, including identifying competitors, assessing their strategies, strengths/weaknesses, and selecting which to attack or avoid. It also discusses different competitive strategies firms can employ like overall cost leadership, differentiation, and focus.
Blue Ocean Strategy is an approach to strategy formulation and execution that aims to create new market space and make competition irrelevant. It involves reconstructing market boundaries, focusing on the big picture rather than numbers, reaching beyond existing demand, and getting the strategic sequence right. Executing blue ocean strategy requires overcoming organizational hurdles like cognitive biases and resource constraints through techniques like engaging disgruntled customers and redirecting resources from less productive areas.
Gap Inc. is a US company that manufactures casual apparel, accessories, and personal care products. It offers clothing, shoes, and accessories for men, women, and children. While Gap has strengths like diversification and technology use, it faces weaknesses such as decreasing sales and inefficient inventory. A quantitative analysis recommends a product development strategy to address external opportunities and internal weaknesses. This would involve introducing new product lines to boost sales and better compete against threats from shifting consumer priorities and Asian competitors.
The document discusses various branding strategy options including individual brands with no connections, blanket brands to pull new products through channels, and separate family brands. It also discusses brand extension, multibranding/proliferation, and brand repositioning strategies. Additional sections cover developing brand names, building brand value through various marketing activities, defining an effective brand using the "5 Cs", and designing branding strategies using corporate vs. brand dominance.
This document outlines a course on product management. It is divided into 5 blocks that cover: 1) an introduction to product management and the product management process, 2) managing existing products, 3) branding and packaging decisions, 4) new product development, and 5) implementing new product launches. The first block provides an overview of the evolution of product management and its role in interfacing with other organizational functions such as marketing, sales, and product development.
The document discusses key aspects of understanding consumer behavior through market research. It covers conducting market research to understand who consumers are, what they want, and how to reach them. Traditional types of market research like desk research, field research, and data consulting from companies like Nielsen and GfK are described. The document then covers factors that influence consumer decision making like culture, social influences, personal factors and mental processes. It outlines the consumer's purchase decision process from recognizing a problem, gathering information, evaluating alternatives, and making a final choice.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive function. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
This document provides an overview of Porter's five generic competitive strategies: low-cost provider, differentiation, best-cost provider, and focus/niche strategies. It includes definitions of each strategy, examples of companies that employ each strategy, and the characteristics that make a strategy suitable for a given competitive environment. The document also discusses the risks and pitfalls that companies should consider for each strategic approach.
The document discusses key concepts in product management including the concept of a product, product life cycle, new product development process, branding, packaging, and labeling. It defines a product as anything that can be offered to a market for attention, acquisition, use or consumption according to Philip Kotler. It outlines the stages of the product life cycle as introduction, growth, maturity, and decline. The new product development process involves idea generation, screening, business analysis, product development, testing, and commercialization. Branding, packaging, and labeling are important elements of product strategy that help identify and differentiate products in the marketplace.
- The document discusses the stages of a product life cycle: introduction, growth, maturity, and decline. It provides details on the objectives, sales, costs, customers, competitors, and marketing strategies at each stage.
- The maturity stage is characterized by peak sales and high profits as the market becomes saturated and sales flatten. Competitors are well established and the focus shifts to reducing expenses and milking brands.
- The document outlines marketing strategies companies can use at different stages, such as defensive strategies in maturity or exploring new markets in decline.
The document discusses various topics related to products and branding, including product life cycles, new product development processes, reasons for product failures, and strategies for branding and product lines. It provides examples to illustrate concepts like different stages in the product life cycle, types of product innovations, and factors that influence the speed of diffusion for new products.
Enterprise Rent-A-Car has grown from a small startup in 1957 to the largest car rental company in North America through strategic use of Ansoff's Matrix growth strategies. It focused on market development by opening airport locations, product development like unique pickup services, and diversification into used car sales. While diversification into food packaging was less successful, it provided valuable learning experience.
The document discusses various topics related to product and brand decisions for global markets. It covers basic concepts like different types of products and consumer goods. It also discusses brands in depth, including definitions of a brand and different branding strategies companies can use internationally. The document also examines considerations for developing global brands versus local brands and strategies for introducing new products globally.
This document provides an overview of chapter 9 from the marketing textbook "Marketing: The Core". It discusses key concepts around products, services, and the new product development process. The learning objectives cover recognizing terms for products and services, classifying consumer and business products/services, describing elements of services, explaining new product "newness", and outlining the new product development process. Key sections define products and services, classify consumer products, outline the uniqueness of services, and describe the 7 stages of new product development including strategy, idea generation, screening, business analysis, development, market testing, and commercialization.
This project was the final project for the Marketing Management 2 course at McGill university. We represented team MAC, and "battled" against team Make Up Forever, a competing cosmetics brand. This project resulted in our team winning the battle, as well as top marks in the class.
The document discusses various aspects of new product development including defining a product, the product mix, product differentiation, the product life cycle, and the new product development process. It explains key terms like the core, actual, and augmented product. It also outlines the different stages in the new product development process from idea generation to commercialization and launch.
Product strategy is like a roadmap, and like a roadmap it’s useful only when you know where you are and where you want to go.The Service Strategy provides guidance on how to design, develop, and implement service management not only as an organizational capability but also as a strategic asset.
This document outlines a product strategy development process. It discusses selecting a product strategy by determining growth vs. profit goals and how to achieve them through existing or new customers. It also covers implementing the core strategy. Additional sections explain the benefits of having a coordinated strategy, positioning a product in the market, managing brand equity over the life cycle, and using the Boston Matrix to analyze a product portfolio at different stages.
The document discusses new product development strategies and the product life cycle. It explains that companies must develop new products to meet consumer needs, drive growth, and adapt to changes. The process of new product development involves idea generation, screening, concept development and testing, marketing strategy, business analysis, product development, test marketing, and commercialization. Most new products fail, so companies carefully evaluate ideas and concepts. Products typically pass through introduction, growth, maturity, and decline stages in their life cycle. Firms must adapt their marketing approach at each stage to maximize profits over the product's lifetime.
The document discusses the marketing mix decisions at different stages of the product life cycle for consumer, industrial and service products. It outlines the key marketing mix elements - product, price, place and promotion - that should be considered at the introductory, growth, maturity and declining stages of the PLC. It also provides examples of different marketing mix strategies such as harvesting, maintenance, profitable survivor and niche that can be used in declining markets.
Products pass through distinct life cycle stages characterized by changing sales, costs, and profits. The four stages are: introduction (low sales, high costs), growth (rising sales and profits), maturity (peak sales, high competition), and decline (falling sales and profits). Strategies must adapt to the challenges of each stage, focusing on creating awareness early, maximizing market share in growth, defending share in maturity, and reducing expenditures in decline. Modifying the product, market, or marketing mix can sometimes prolong the maturity stage.
The document discusses competitive advantage and competitor analysis. It provides objectives for understanding competitors and customers through analysis. It then discusses Intel as an example, focusing on how Intel's competitive strategy of superior value and product innovation has led to success. The document outlines steps for analyzing competitors, including identifying competitors, assessing their strategies, strengths/weaknesses, and selecting which to attack or avoid. It also discusses different competitive strategies firms can employ like overall cost leadership, differentiation, and focus.
Blue Ocean Strategy is an approach to strategy formulation and execution that aims to create new market space and make competition irrelevant. It involves reconstructing market boundaries, focusing on the big picture rather than numbers, reaching beyond existing demand, and getting the strategic sequence right. Executing blue ocean strategy requires overcoming organizational hurdles like cognitive biases and resource constraints through techniques like engaging disgruntled customers and redirecting resources from less productive areas.
Gap Inc. is a US company that manufactures casual apparel, accessories, and personal care products. It offers clothing, shoes, and accessories for men, women, and children. While Gap has strengths like diversification and technology use, it faces weaknesses such as decreasing sales and inefficient inventory. A quantitative analysis recommends a product development strategy to address external opportunities and internal weaknesses. This would involve introducing new product lines to boost sales and better compete against threats from shifting consumer priorities and Asian competitors.
The document discusses various branding strategy options including individual brands with no connections, blanket brands to pull new products through channels, and separate family brands. It also discusses brand extension, multibranding/proliferation, and brand repositioning strategies. Additional sections cover developing brand names, building brand value through various marketing activities, defining an effective brand using the "5 Cs", and designing branding strategies using corporate vs. brand dominance.
This document outlines a course on product management. It is divided into 5 blocks that cover: 1) an introduction to product management and the product management process, 2) managing existing products, 3) branding and packaging decisions, 4) new product development, and 5) implementing new product launches. The first block provides an overview of the evolution of product management and its role in interfacing with other organizational functions such as marketing, sales, and product development.
The document discusses key aspects of understanding consumer behavior through market research. It covers conducting market research to understand who consumers are, what they want, and how to reach them. Traditional types of market research like desk research, field research, and data consulting from companies like Nielsen and GfK are described. The document then covers factors that influence consumer decision making like culture, social influences, personal factors and mental processes. It outlines the consumer's purchase decision process from recognizing a problem, gathering information, evaluating alternatives, and making a final choice.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive function. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
This document provides an introduction to marketing concepts. It defines marketing as the process of communicating the value of a product or service to customers for the purpose of selling. Key concepts discussed include the 4 P's of marketing (product, price, place, promotion), different marketing orientations (product, production, selling, marketing), and trends such as green marketing, ethnic marketing and sustainable development. The document emphasizes that marketing requires understanding customer needs and satisfying them better than competitors.
The document discusses various topics related to product marketing including product categories, brand decisions, product features, development and life cycle. It covers brand strategies like mono-branding, multi-branding, brand extensions and co-branding. Product features such as quality, guarantees, service, design and packaging are explained. The importance of quality management and using packaging for communication functions are also summarized.
The document discusses branding and brand management. It covers topics such as brand identity, brand image, the difference between push and pull strategies, factors that influence consumer purchasing of branded products, the rise of private labels, and techniques for building brand image. The document also lists branding elements like logos, slogans, and packaging. It provides examples of brands that use different branding approaches and image builders.
This document discusses marketing management and the 4 P's of marketing - product, place, price and promotion. It covers various topics related to product marketing, including defining the core product, product categories, product mix, brand decisions, product features, development and life cycle. Specific topics discussed include the three levels of a product, developing a product concept, differentiating from competitors, and expanding product lines. Examples are provided of both successful and unsuccessful product concepts.
A product is anything offered by a company to satisfy customer needs, whether an object, service, or idea. New product development mostly involves improving existing products, with less than 10% being totally new concepts. The success rate of new products is very low, less than 5%. Products go through stages of development, testing, analysis, and market testing before commercialization in targeted markets and customer groups using an introductory marketing strategy. Products exist at different levels from core benefits to potential enhancements.
The document discusses various concepts related to product management including attractiveness of market offerings, product levels based on customer value, product classification, product mix, new product development process, adoption of innovations, product life cycle strategies, branding, brand portfolio, equity, and sponsorship. It provides information on how companies can develop, market, and manage their products and brands effectively.
1. The document discusses the new product development process and product life cycle strategies. It outlines the typical causes of new product failures and the steps companies should take to develop successful new products.
2. The new product development process involves idea generation and screening, concept development and testing, developing a marketing strategy, business analysis, test marketing, and commercialization.
3. The product life cycle typically involves an introduction stage with low sales and profits, a growth stage with rapidly rising sales and profits, a maturity stage with peak sales and profits, and a decline stage with falling sales and profits. The marketing objectives and strategies differ depending on the life cycle stage.
Marketing involves identifying and satisfying customer needs in order to generate profits. It includes activities like market research, product development, pricing, promotion, and distribution. A key aspect is understanding different types of markets, including consumer markets of individuals and industrial markets of organizations. Marketing aims to be customer-oriented by anticipating trends and responding to changes in order to gain a competitive advantage.
The document discusses the new product development process and product life cycle strategies. It outlines the 7 steps in the new product development process: 1) idea generation, 2) idea screening, 3) concept development and testing, 4) marketing strategy development, 5) business analysis, 6) product development, and 7) test marketing. It also describes the 4 stages in a product's life cycle: introduction, growth, maturity, and decline. For each stage, it provides the typical marketing objectives regarding sales, costs, profits, product, price, distribution, and advertising.
New Product Development And Product Life-Cycle StrategiesMr.Yes!
The document discusses the new product development process and product life cycle strategies. It outlines the 7 steps in the new product development process: 1) idea generation, 2) idea screening, 3) concept development and testing, 4) marketing strategy development, 5) business analysis, 6) product development, and 7) test marketing. It also describes the 4 stages of the product life cycle: introduction, growth, maturity, and decline. For each stage, it provides the marketing objectives regarding sales, costs, profits, product, price, distribution, and advertising.
B Business and Management (Standard Level)
All material taken from the IB Business and Management Textbook:
"Business and Management", Paul Hoang, IBID Press, Victoria, 2007
1. The document discusses new product development strategies and processes, including obtaining new product ideas, causes of failures, and an 8-step development process.
2. It also covers product life cycle stages from introduction to decline, outlining characteristics, objectives, and strategies for marketing at each stage.
3. Key aspects of the new product development process are idea generation, screening, concept development and testing, marketing strategy development, business analysis, product development, test marketing, and commercialization.
The marketing mix document discusses the key elements of marketing strategy - the 4 Ps of marketing: product, price, place (distribution), and promotion. It explains that the marketing mix refers to the combination of these four elements that make up a company's marketing system. It then provides further details on each element, including product life cycle stages from development to decline, and strategies to extend the life cycle. Common pricing strategies and objectives are also outlined.
The document discusses new product development and the product life cycle. It defines new product development and lists the typical stages in the new product development process: idea generation, idea screening, concept development and testing, marketing strategy development, business analysis, product development, test marketing, and commercialization. It also describes the typical stages in a product life cycle as introduction, growth, maturity, and decline. It explains how marketing strategies should change during each stage of the product life cycle.
The document discusses new product development and the product lifecycle. It outlines the 7 steps in the new product development process: idea generation and screening, concept development and testing, marketing strategy development, business analysis, product development, test marketing, and commercialization. It also describes the 4 stages in a product's lifecycle: introduction, growth, maturity, and decline. For each stage, it notes how sales, costs, profits, and marketing objectives typically change over the lifetime of a product.
The document discusses new product development and the product lifecycle. It outlines the 7 steps in the new product development process: idea generation and screening, concept development and testing, marketing strategy development, business analysis, product development, test marketing, and commercialization. It also describes the 4 stages in a product's lifecycle: introduction, growth, maturity, and decline. For each stage, it notes how sales, costs, profits, and marketing objectives typically change over the lifetime of a product.
The document discusses new product development and a product's life cycle. It describes the typical stages in new product development as idea generation, screening, concept development and testing, marketing strategy development, business analysis, product development, test marketing, and commercialization. It also outlines the stages in a product's life cycle as development, introduction, growth, maturity, and decline. The document provides strategies for marketing a product through each stage of its life cycle.
The document discusses product life cycles and strategies. It describes the four stages of a product life cycle as introduction, growth, maturity, and decline. Marketing strategies are outlined for each stage, such as using rapid skimming or penetration pricing during introduction, improving the product and distribution during growth, market and product modification during maturity, and reducing promotional spending during decline. The Ansoff matrix and new product development process are also summarized.
The document summarizes the new product development process and product lifecycle. It outlines 7 steps in the new product development process: 1) idea generation, 2) idea screening, 3) concept development and testing, 4) marketing strategy development, 5) business analysis, 6) product development, and 7) test marketing. It then describes the typical stages in a product's lifecycle: introduction, growth, maturity, and decline. Each stage is characterized by different sales, costs, profits, and marketing objectives.
The document discusses the product life cycle which includes four stages: introduction, growth, maturity, and decline. Each stage poses different challenges and opportunities for sellers. Profits typically rise during growth as sales increase rapidly, peak during maturity as sales maximize, and decline during maturity and decline as sales decrease. Different marketing, financial, manufacturing, and HR strategies are needed for each stage depending on factors like sales, costs, profits, competitors, and customers.
The document summarizes the product life cycle and associated marketing strategies. It discusses the five stages of the product life cycle: product development, introduction, growth, maturity, and decline. Each stage is characterized by different sales, costs, profits, objectives, and marketing strategies. The introduction focuses on creating awareness through promotion. Growth prioritizes market share through distribution expansion. Maturity emphasizes profit maximization through brand diversification. Decline reduces expenditures to "milk the brand". The document also covers introductory strategies, growth strategies, maturity modifications, and strategies for the decline stage.
This document discusses product life cycles and strategies for managing products through each stage. It begins by outlining factors that can demand changes in product strategy, such as customer needs, technology, laws, and the product life cycle. It then describes the stages of new product development, including idea generation, screening, concept development, business analysis, market testing, and commercialization. For each stage, key activities are outlined. The document also discusses factors for success and failure of new products, and strategies for managing products in the introduction, growth, maturity, and decline stages of the product life cycle. Overall, the document provides an overview of developing, launching, and managing products throughout their lifespans.
The document discusses various marketing concepts related to the 4Ps - product, price, place, and promotion. It defines key terms like branding, consumer products, pricing strategies, product life cycle, and promotion methods. It explains that product refers to the end result sold to satisfy customer needs. Branding differentiates products and creates a unique identity. There are various consumer product categories and pricing considerations. The product life cycle shows sales patterns from launch to withdrawal. A company's promotion methods can be above-the-line like advertising or below-the-line incentives.
10. Advantages innovation vs. Me-too
Early mover advantages: large brand awareness and knowledge
MP3 = iPod
Cost leadership because of large production volume
Registered innovation => production start long before competition
Eg. Senseo pads (ended in 2006)
Eg. Nestlé capsules (ended in 2012)
12. Imitators
Advantages
No R&D costs
Stealpart of the market/segmentedtargets
Disadvantages
Hard toconquerpart of the market (‘follower’)
Sometimesonlyabletotake part in the successbymeans of producingprivate labels
13. Whendo companies innovate?
Theyoffer somethingrare/hard tofind
Onlytobefound in a uniquelocation
Theyimprovethe existingservice/product
Locateproblem=> improve
Theycreatea totallynew product
Alreadyin the USA
Practicallyunknownin the East of Europe
21. 7. Go/ No go
Full financial analysis
Estimationof costsandturnover
Estimationof break-even point
8. Product development
Concept becomesreal product
Testingof the prototypes
Functionaltests in the company
Consumer tests
22. 9. Launch
Introduce the new product on the market
Goodmarketing!
Check out howthe innovationis acceptedby
Consumers
Distrbutors
Check out whotheyare
Innovators
Earlyadopters
Extremelypopular
Michael Dell’sinvitation: fordie-hardsonly
23. Failure?
Nota uniqueconcept
Bad or insufficientmarketing support
Inferiorquality
Bad timing
Otherreasons: product features, location, …
24.
25. The goal:
Development of carrunning on hydrogen
Fastacceleration
150 km/h
Reach: 450 km
26. The segment:
Cheaper, 2nd family car: more compact andcity-friendly
Middleclass sportscarforyoungdrivers
‘Green’ carforthosewhowant lesspollution, basic transport andlow fuelcosts
SUV forhighersegment whichwants biggercarbut regretsthe high fuelcosts
27.
28. Checklist consumerpanel:
Do youunderstandthe concept of a hydrogenengine?
Do youbelievein the promisedachievementsof the car?
Whatare the advantagesof thiscarwhencomparedtoa normalcar?
Whichimprovementscanyouthinkof?
Whatis the idealpricesetting accordingtoyou?
Whoin yourfamily woulddrive yourcar? Towhatpurpose?
Wouldyouconsiderbuyinga carlikethis?
29. Resultchecklist
An effective, verycompact electriccarthatruns on hydrogen.
Fun todrive, for4 passengers
Practical andreliablemeans of transport withhardlyanypollution
Canreachup to150 km/h
Anddoesn’tneedtobecharged(as comparedtocarswithanelectricbatterysystem)
Idealpriceall-inclusiveis 25,000 euro
30. Development of marketing strategy
Target market is jong, highlyeducated, withanincomeaboveaverage-high
Couplesor small families
Lookingfora practical andenvironment-friendlyway of transport
Image tobecreated:
fuel-efficient,
nicertodrive,
lesspolluting
has lesslimitswhencomparedtohybridor electriccars
31. Developstrategy:
1st year: sell100,000 cars, loss: max. 15 mio. Euro
2nd year: sell120,000 cars, profit: 25 mio. Euro
Three colours
Airco is optional
Price setting: 20,000 Euro
15 % marginfordealers
Advertising budget: 20 mio. Euro
Half forregionaladvertising
Half fornationaladvertising
Focus on: fuel-efficiency anddrivingpleasure
32. StrategyLT:
3% of totalcarmarket
Carqualityneedstobehigh as of day1
Constant improvements
Price willbeincreasedin year2 and3 ifpossible(competition)
Total advertising budget: increaseof 10% everyyear
33. Up toyou
Brainstorm abouta new product foroneof the followingsectors
Health, wellnessor lifestyle
Fun (event, culture, leisuretime)
Retrospective(bringback somethingfromthe past)
Check the feasability
Depictthe target audience
Describeyournew product
35. Every product goes through the PLC
Duration depends on type of product
Technological product: 1 year
Others: can last for more than 100 years…
Every phase asks for a different marketing
approach
Every phase: different turnover
36.
37. Turnover:
Growingslowly
Facilitateadoption
Restraints:
Insufficientmanufacturing capacity
Technical problems
Market is fluid, predictionsare difficult
Examples: DixanMegaperls, Omo, Renault Cactus, augmentedreality
44. Communication strategy:
Depends on budget andsizeof organization
Introductionnew product category
Make surebrand name becomeswell-known(brand awareness)
Not just a pen, but a legacy: Montblanc
Sales promotions
47. Marketing objectives
Createbrand preference
Potentialbuyersneedtobecomereal buyers
Extenddistributionnetwork
Make surethe growthphaselastsas long as possible
Createnew types of yourproduct
Fillthe gapsin the market
49. Communication/advertising:
Focus on strong brand
(Value-) expressiveadvertising
Focus on product benefits
Sales promotions
Eg. Lego forgirls (2013)
50. Largest part of products are (stuck) in this phase
Market stability
No considerable growth
Turnover:
First slow growth
Followed by plateau
Maximum level of penetration
All possible buyers have been reached
51. Competition
A lot of competition
Price battle
Marginsare smaller
Profit is made becauseof large sales volume
Marketing objectives
Defendmarket share
Createbrand loyalty
52. Product management = PLC-stretching
Look fornew consumers
Look fornew momentsof use
Stealconsumersfromcompetitors
Increaseuser frequency
Stimulatereplacement
Improvedesign/style
Improvefunctionality
Improvequality
53.
54.
55. Up toyou: look forexamples
Look for new consumers
Look for new moments of use
Steal consumers from competitors
Increase user frequency
Stimulate replacement
Improve design/style
Improve functionality
Improve quality
56. Product management
Sometimes: stop product line
No more parts, accessories, service, repair
Eg. Windows 98 afterXP launch, Minidisc player
57. Turnover decreases, due to
Technological evolution
Increasing competition
Changing life styles
Once in decline, now again trendy