A tool in Marketing Communication that manifest immediate purchase with the help of impulsive buying decision. learn about various methods of sales promotion and key techniques.
Presentation given by Muneeb Iqbal, Adnan, Dr Owais, Shahid Naved ,Ali Shah & Haris Vakeel on "New Product Development & Pricing Strategies" (of Marketing Mix/4 P's) to Sir.Nouman Ashraf in the course of "Principles of Marketing" at Hamdar University City Campus (HIMS).
References:
Principles of Marketing, 12 th edition, Phillip Kotler & Gary Armstrong.
Emerging Trends in Marketing: Green Marketing, Event Marketing, Network Marketing, Social Marketing, Buzz Marketing/ Viral Marketing, Customer Relationship Management (CRM), Global Marketing, Rural Marketing, E-Commerce: Marketing In The Digital Age.
Marketing (Product Strategy) - Discuss about levels of product, product classification, brand strategies, packaging and labeling of the consumer products.
Department of Management- Market Positioning
Why Positioning?
What is Image
Current Image
Mirror Image
Errors in Positioning
Doubtful Positioning
Positioning Strategies
Competitor Positioning
Attribute Positioning
A tool in Marketing Communication that manifest immediate purchase with the help of impulsive buying decision. learn about various methods of sales promotion and key techniques.
Presentation given by Muneeb Iqbal, Adnan, Dr Owais, Shahid Naved ,Ali Shah & Haris Vakeel on "New Product Development & Pricing Strategies" (of Marketing Mix/4 P's) to Sir.Nouman Ashraf in the course of "Principles of Marketing" at Hamdar University City Campus (HIMS).
References:
Principles of Marketing, 12 th edition, Phillip Kotler & Gary Armstrong.
Emerging Trends in Marketing: Green Marketing, Event Marketing, Network Marketing, Social Marketing, Buzz Marketing/ Viral Marketing, Customer Relationship Management (CRM), Global Marketing, Rural Marketing, E-Commerce: Marketing In The Digital Age.
Marketing (Product Strategy) - Discuss about levels of product, product classification, brand strategies, packaging and labeling of the consumer products.
Department of Management- Market Positioning
Why Positioning?
What is Image
Current Image
Mirror Image
Errors in Positioning
Doubtful Positioning
Positioning Strategies
Competitor Positioning
Attribute Positioning
this ppt includes tips on opening the presentation, opening by question, use of magic number 3 , ending your presentations, elegant message delivery, handling audience questions and visuals.
This PPT contains no words / sentences, instead stages in the development of a new product is explained with the help of pictures. This method produced excellent results as it had a better impact on the students.
This method is more effective when students are asked to relate the pictures to the topic being discussed.
puneeth.pns@gmail.com
Product Market Development - GEW Qatar 2014Emad Saif
Taking a closer look at Product & Market Development to address the challenge of product market fit, utilize a new tool called "Value Proposition Canvas" and finally putting everything in context of the Lean Start Up Methodology.
Online Course: https://t.co/g2O0nNBV52
A new way to look at marketing... Introductory session to Hospital Management Students of BK School of Business Management, Gujarat University taken on 22 September 2011.
for more details, visit:
www.profmanishparihar.blogspot.com
INTRODUCTION
In order to stay successful in the face of maturing products, companies need a continuous stream of new ideas successfully developed into new products. The way to obtain new products is to have a structured and carefully executed new product development process (NPD).
But companies face a problem: Although they must develop new products, the odds weigh heavily against success. Among thousands of products entering the process at the top, only a handful eventually reach the market. Therefore, it is of crucial importance to understand consumers, markets, and competitors in order to develop new products that deliver superior value to customers.
In other words, there is no way around a systematic, customer-driven new product development process for finding and growing new products. We will go into the eight major steps in the new product development process.
The New Product Development ProcessBecause introdu.docxcherry686017
The New Product Development Process
Because introducing new products on a consistent basis is important to the future success of many organizations, marketers in charge of product decisions often follow set procedures for bringing products to market. In the scientific area that may mean the establishment of ongoing laboratory research programs for discovering new products (e.g., medicines) while less scientific companies may pull together resources for product development on a less structured timetable.
In this PowerPoint slide show, we present a process comprising the key elements of new product development. While some companies may not follow a deliberate step-by-step approach, the steps are useful in showing the information input and decision making that must be done in order to successfully develop new products. The process also shows the importance market research plays in developing products. We should note that while this process works for most industries, it is less effective in developing radically new products. The main reason lies in the inability of the target market to provide sufficient feedback on advanced product concepts since they often find it difficult to understand radically different ideas. So while many of these steps are used to research breakthrough ideas, the marketer should exercise caution when interpreting the results.
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New Products are vital
As the cartoon highlights, in this era of rapid changes in our external environment, innovation is imperative. A firm cannot rest on their laurels (and current products). Furthermore, the time it takes firms to bring new products to market has accelerated. Firms that fail to develop new products put themselves at risk as their existing products are vulnerable to changing customer needs and tastes, new technologies, shortened product-life-cycles, and increased competition. In this PowerPoint slideshow, we highlight the 8 step new product development process as described by Kotler and Keller (2016).
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8 Step New-Product Development Process1. Idea Generation2. Idea Screening3. Concept Development and Testing4. Marketing Strategy Development5. Business Analysis6. Product Development7. Market Testing8. Commercialization
How Kotler and Keller (2016) describes the New Product Development Process is as an eight stage process in which the new product can be dropped at any time. Other sources will condense some of the steps so you may see others refer to fewer steps. If you look at these closely though, they are not deleting any of the activities, but instead are combining some of them.
*
Step 1: Idea GenerationAt this stage marketers need to ask: Is the idea worth considering?If yes, proceed to idea screening.If no, drop.Ideas for new products can come from:Customers and channel membersScientists and engineersBy examining competitorsTop management
The first step of new product development requires gathering ideas to be evaluated as potential product ...
Real estate is "property exist of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this an item of real property,buildings or housing in general.
Similar to new market offerings(new product development) (20)
Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
How to Run Landing Page Tests On and Off Paid Social PlatformsVWO
Join us for an exclusive webinar featuring Mariate, Alexandra and Nima where we will unveil a comprehensive blueprint for crafting a successful paid media strategy focused on landing page testing.With escalating costs in paid advertising, understanding how to maximize each visitor’s experience is crucial for retention and conversion.
This session will dive into the methodologies for executing and analyzing landing page tests within paid social channels, offering a blend of theoretical knowledge and practical insights.
The Pearmill team will guide you through the nuances of setting up and managing landing page experiments on paid social platforms. You will learn about the critical rules to follow, the structure of effective tests, optimal conversion duration and budget allocation.
The session will also cover data analysis techniques and criteria for graduating landing pages.
In the second part of the webinar, Pearmill will explore the use of A/B testing platforms. Discover common pitfalls to avoid in A/B testing and gain insights into analyzing A/B tests results effectively.
In this presentation, Danny Leibrandt explains the impact of AI on SEO and what Google has been doing about it. Learn how to take your SEO game to the next level and win over Google with his new strategy anyone can use. Get actionable steps to rank your name, your business, and your clients on Google - the right way.
Key Takeaways:
1. Real content is king
2. Find ways to show EEAT
3. Repurpose across all platforms
For too many years marketing and sales have operated in silos...while in some forward thinking companies, the two organizations work together to drive new opportunity development and revenue. This session will explore the lessons learned in that beautiful dance that can occur when marketing and sales work together...to drive new opportunity development, account expansion and customer satisfaction.
No, this is not a conversation about MQLs and SQLs. Instead we will focus on a framework that allows the two organizations to drive company success together.
Digital Money Maker Club – von Gunnar Kessler digital.focsh890
Title One is a comprehensive examination of the impact of digital technologies on
modern society. In a world where technology continues to advance rapidly, this article delves into the nuances and complexities of the digital age, exploring Its implications across various sectors and aspects of life.
Digital marketing is the art and science of promoting products or services using digital channels to reach and engage with potential customers. It encompasses a wide range of online tactics and strategies aimed at increasing brand visibility, driving website traffic, generating leads, and ultimately, converting those leads into customers.
https://nidmindia.com/
AI-Powered Personalization: Principles, Use Cases, and Its Impact on CROVWO
In today’s era of AI, personalization is more than just a trend—it’s a fundamental strategy that unlocks numerous opportunities.
When done effectively, personalization builds trust, loyalty, and satisfaction among your users—key factors for business success. However, relying solely on AI capabilities isn’t enough. You need to anchor your approach in solid principles, understand your users’ context, and master the art of persuasion.
Join us as Sarjak Patel and Naitry Saggu from 3rd Eye Consulting unveil a transformative framework. This approach seamlessly integrates your unique context, consumer insights, and conversion goals, paving the way for unparalleled success in personalization.
Search Engine Marketing - Competitor and Keyword researchETMARK ACADEMY
Over 2 Trillion searches are made per day in Google search, which means there are more than 2 Trillion visits happening across the websites of the world wide web.
People search various questions, phrases or words. But some words and phrases are searched
more often than others.
For example, the words, ‘running shoes’ are searched more often than ‘best road running
shoes for men’
These words or phrases which people use to search on Google are called Keywords.
Some keywords are searched more often than others. Number of times a keyword is searched
for in a month is called keyword volume.
Some keywords have more relevant results than others. For the phrase “running shoes” we
get more than 80M relevant results, whereas for “best road running shoes for men” we get
only 8.
The former keyword ‘running shoes’ has way more competition from popular websites to
new and small blogs, whereas the latter keyword doesn’t have that much competition. This
search competition for a keyword is called search difficulty of a keyword or keyword
difficulty.
In other words, if the keyword difficulty is ‘low’ or ‘easy’, there won’t be any competition
and if you target such keywords on your site, you can easily rank on the front page of Google.
Some keywords are searched for, just to know or to learn some information about something,
that’s their search intention. For example, “What shoe size should I choose?” or “How to pick
the right shoe size?”
These keywords which are searched just to know about stuff are called informational
keywords. Typically people who are searching this type of keywords are top of a Conversion
funnel.
Conversion funnel is the journey that search visitors go through on their way to an email
subscription or a premium subscription to the services you offer or a purchase of products
you sell or recommend using your referral link.
For some buyers, research is the most important part when they have to buy a product.
Depending on that, their journey either widens or narrows down. These types of buyers are
Researchers and they spend more time with informational keywords.
Conversion is the action you want from your search visitors. Number of conversions that you
get for every 100 search visitors is called Conversion rate.
People who are at different stages of a conversion funnel use different types of keywords.
Core Web Vitals SEO Workshop - improve your performance [pdf]Peter Mead
Core Web Vitals to improve your website performance for better SEO results with CWV.
CWV Topics include:
- Understanding the latest Core Web Vitals including the significance of LCP, INP and CLS + their impact on SEO
- Optimisation techniques from our experts on how to improve your CWV on platforms like WordPress and WP Engine
- The impact of user experience and SEO
When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.
Key Takeaways:
- New framework for examining and safeguarding an online reputation
- Tools and techniques to keep you a step ahead
- Practical examples that demonstrate when to act, how to act and how to recover
A.I. (artificial intelligence) platforms are popping up all the time, and many of them can and should be used to help grow your brand, increase your sales and decrease your marketing costs.In this presentation:We will review some of the best AI platforms that are available for you to use.We will interact with some of the platforms in real-time, so attendees can see how they work.We will also look at some current brands that are using AI to help them create marketing messages, saving them time and money in the process. Lastly, we will discuss the pros and cons of using AI in marketing & branding and have a lively conversation that includes comments from the audience.
Key Takeaways:
Attendees will learn about LLM platforms, like ChatGPT, and how they work, with preset examples and real time interactions with the platform. Attendees will learn about other AI platforms that are creating graphic design elements at the push of a button...pre-set examples and real-time interactions.Attendees will discuss the pros & cons of AI in marketing + branding and share their perspectives with one another. Attendees will learn about the cost savings and the time savings associated with using AI, should they choose to.
The session includes a brief history of the evolution of search before diving into the roles technology, content, and links play in developing a powerful SEO strategy in a world of Generative AI and social search. Discover how to optimize for TikTok searches, Google's Gemini, and Search Generative Experience while developing a powerful arsenal of tools and templates to help maximize the effectiveness of your SEO initiatives.
Key Takeaways:
Understand how search engines work
Be able to find out where your users search
Know what is required for each discipline of SEO
Feel confident creating an SEO Plan
Confidently measure SEO performance
It's another new era of digital and marketers are faced with making big bets on their digital strategy. If you are looking at modernizing your tech stack to support your digital evolution, there are a few can't miss (often overlooked) areas that should be part of every conversation. We'll cover setting your vision, avoiding siloes, adding a democratized approach to data strategy, localization, creating critical governance requirements and more. Attendees will walk away with actions they can take into initiatives they are running today and consider for the future.
Most small businesses struggle to see marketing results. In this session, we will eliminate any confusion about what to do next, solving your marketing problems so your business can thrive. You’ll learn how to create a foundational marketing OS (operating system) based on neuroscience and backed by real-world results. You’ll be taught how to develop deep customer connections, and how to have your CRM dynamically segment and sell at any stage in the customer’s journey. By the end of the session, you’ll remove confusion and chaos and replace it with clarity and confidence for long-term marketing success.
Key Takeaways:
• Uncover the power of a foundational marketing system that dynamically communicates with prospects and customers on autopilot.
• Harness neuroscience and Tribal Alignment to transform your communication strategies, turning potential clients into fans and those fans into loyal customers.
• Discover the art of automated segmentation, pinpointing your most lucrative customers and identifying the optimal moments for successful conversions.
• Streamline your business with a content production plan that eliminates guesswork, wasted time, and money.
3. New product options
There are a variety of new products and ways to create
them.
A company can add new products through acquisition
or development. The company while acquiring , can
buy a license or franchise from another company.
For example : Nestle(a swiss food giant), has increased
its presence in North america by acquiring a variety of
different brands such as Carnation, Dreyer’s ice cream,
power bar and many other products.
4. Types of new products
New products range from “new to the world” items that
create an entirely new market to items that consist of
“minor improvements” of existing products.
Usually, less than 10% of all new products are truly
innovative.
For example: Nike, once manufacturer of running shoes,
now competes with the makers of all types of athletic
shoes, clothing & equipment.
Radical innovations can hurt a company’s bottom line in
the short run, but if they succeed, they can improve the
corporate image, greater sustainable competitive advantage
than ordinary products and greater financial rewards.
5. Challenges in new product
development
A. Innovation imperative:
In an economy of rapid changes, continuous
innovation is a necessity. Companies that fail to
develop new products leave themselves vulnerable to
changing customer needs and tastes, shortened
product life cycles, increased domestic and foreign
competition and especially new technologies.
Google dropbox updates its software daily. Such highly
innovative firms repeatedly identify and quickly seize
new market oppurtunities.
6. B. New product success
established companies focus on incremental
innovation, entering new markets by tweaking
products for new customers, using variations on a
core product to stay a step ahead of the market.
usually new companies create disruptive
technologies that are cheaper and more likely to alter
the competitive space.
Established companies are slow to react to such
changes and may fail. Thus, in order to avoid such a
situation, incumbent firms must carefully monitor
the preferences of both customers and non-
customers and uncover the evolving difficult to
articulate customer needs.
7. C. New product failure
New products continue to fail at rates as high as
50%.
Reasons being ignored-misinterpreted market size,
high development costs, poor design or ineffectual
performance, incorrect positioning, insufficient
distribution support, competitors who fight back
hard and inadequate payback
8. Organizational Arrangement
1. Budgeting for new product development:
It is very difficult to use normal investment criteria
while budgeting for new product development.
Some companies simply finance as many product
development projects as possible, hoping to achieve
a few winners.
Others apply a conventional percentage of sales
figure or spend what the competition spends.
9. STAGE NO. OF
IDEAS
PASS RATIO COST PER
PRODUCT
IDEA
TOTAL COST
IDEA
SCREENING
64 1:4 1000 64000
CONCEPT
TESTING
16 1:2 20000 320000
PRODUCT
DEVELOPME
NT
8 1:2 200000 1600000
TEST
MARKETING
4 1:2 500000 2000000
NATIONAL
LAUNCH
2 1:2 5000000 10000000
10. Organizing the new product
A company can handle the organizational aspect of new
product development in several ways.
Cross functional teams -:
Many companies assign new product
development to ‘venture teams’ that are cross
functional groups charged with developing a
specific product or business. These are
intrapreneurs who are relieved of other duties and
given a budget, time frame and ‘skunkworks’
setting.
11. Skunk works are informal workplaces, sometimes
garages, where intrapreneural teams work to
develop new products.
Crowdsourcing -:
The internet lets companies engage external
participants in the product development process
in rich and meaningful ways. Through
crowdsourcing, these paid or unpaid outsiders can
offer needed expertise or different perspective on a
task or project that might otherwise be overlooked
12. Stage gate systems -:
many top companies use the stage gate system to
divide innovation process into stages, with a gate or
checkpoint at each end of the gate.
The project leader working with a cross
functional team must bring a set of known deliverables
to each gate before the project can pass to the next
stage. To move from business plan to product
development requires convincing market research
study of consumers needs and interests.
13. Managing the development
process: IDEAS
A. GENERATING IDEAS -:
The new product development process starts
with the search for ideas. Some marketing
experts believe we find the greatest opportunities
and highest leverage for new products by
uncovering the best possible set of unmet
customers needs or technological innovation.
New product ideas can in fact come from
interacting with various groups and using
creativity generating techniques.
14. B. INTERACTING WITH EMPLOYEES -:
Employees can be a source of ideas for improving
production, products or services. Top
management can be another major source of
ideas.
Some company leaders such as former CEO
Andy Grove of Intel, took personal responsibility
for technological innovation in the firm.
15. C. INTERACTING WITH OUTSIDERS -:
Many firms nowadays are going outside their
bounds to tap external sources of new ideas,
including customers, scientists, engineers etc.
companies are also increasingly turning towards
crowdsourcing to generate new ideas.
One form of crowdsourcing invites the
online community to help create content or
software, often with prize money or a moment of
glory as an incentive.
When Baskin-Robbins ran an online contest
to pick its next flavour, 40,000 consumers
entered. Besides providing new and better ideas,
co-creation can help customers feel closer to the
company and create a favourable word of mouth.
16. D. STUDYING COMPETITORS -:
Companies can find good ideas by researching the
products and services of competitors and other
companies. They can find out what customers like
and dislike about competitors products.
They can ask their own sales representatives and
intermediaries for ideas. These groups have firsthand
exposure to customers and are often the first to learn
about competitive developments.
To establish the optimal brand positioning for
the new product and the right points of parity and
points of differences, marketers need a thorough
understanding of the competition.
17. E. ADOPTING CREATIVITY TECHNIQUES -:
Internal brainstorming sessions can also be quite
effective – if conducted properly. Creativity is mostly
about making connections in ways that are not
obvious. A sampling of techniques for stimulating
creativity in individuals and groups are-:
Attribute listing – list the attributes of an object ( a
screwdriver) and modify each attribute ( replacing
the wooden handle with a plastic one, or adding
different screw heads and so on)
Forced relationship – list several ideas and consider
each in relationship to each of the others. In
designing new office furniture, for example, consider
a task, a desk, a table, book case and filling cabinet as
separate ideas.
18. Morphological analysis – start with a problem
such as ‘getting something from one place to
another via powered vehicle’. Now think of
dimensions such as a powered platform(cart, chair
etc), the medium(air, oils, rails) and the power
source(electric motor, CNG etc). By listing every
possible combination, you can generate many new
solutions.
Reverse assumption analysis – it involves listing all
the normal assumptions about an entity and then
reverse them.
19. New context – take familiar processes such aa
people helping services and put them into a new
context. Instead of sending hotel guests to the
front desk to check in, greet them at curbside and
use a wireless device to register them.
Mind mapping – start with an idea, such as a car,
then think of the next idea that comes up and link
it to the product and with all these associations,
maybe a whole new product will materialize.
20. USING IDEA SCREENING
In screening ideas, the company must avoid two types
of errors. A DROP error when the company dismisses a
good idea.
The purpose of screening is to drop poor ideas as early
as possible. The rationale is that product development
costs rise substantially at each successive development
stage.
Most of the companies require new product ideas to be
described on a standard form for a committee’s review.
The description states the product idea, target market
and the competition and roughly estimates market
size, product size, development costs and the rate of
return.
21. Managing the development
process
1. Concept development
A product idea can be turned into several concepts:
Who will use this product
What primary benefits should this product provide
When will people consume this product
Each concept represents a category concept
that defines the product’s competition. The next
task is to show where the product would stand in
relation to other products.
22. 2. Concept testing
it means presenting the product concept to target
consumers, physically or symbolically and
getting their reactions. The more the tested
concepts resemble the final product or
experience, the more dependable concept testing
is.
it presents consumers with an elaborated version
of the concept. After receiving the information,
researchers measure the product dimensions by
having consumers respond to questions related
to the product.
23. 3. Conjoint analysis
consumer preferences for alternative product concepts
can be measured with conjoint analysis, a method for
deriving the utility values that consumers attach to
varying levels of product’s attributes.
24. The consumer adoption process
Adoption is an individual’s decision to become
regular user of a product and is followed by the
consumer loyalty process.
Stages in the adoption process -:
1. Awareness : the consumer becomes aware of the
innovation but lacks information about it.
2. Interest : the consumer is stimulated to seek
information about the innovation
3. Evaluation : the consumer considers whether to
try the innovation
25. 4. Trial : the consumer tries the innovation to
improve his estimate of its value
5. Adoption : the consumer decides to make full
and regular use of the innovation.
New product marketers typically
aim at early adoption and use the theory of
innovation and consumer adoption to identify
them.