The document discusses various aspects of new product development including the 5 stages consumers go through when adopting a new product (awareness, interest, evaluation, trial, adoption). It also describes the different categories of adopters (innovators, early adopters, early majority, late majority, laggards) based on their willingness to try new products. Finally, it provides an overview of tools used to analyze product portfolios like the BCG matrix which categorizes products as stars, cash cows, question marks or dogs based on market growth and market share.
1. The document discusses the product life cycle and the Boston Matrix as tools for analyzing a company's product portfolio. It describes the stages of the product life cycle and the four categories in the Boston Matrix.
2. It explains the relationship between the two tools, noting that the product life cycle focuses on a single product over time while the Boston Matrix analyzes a company's entire portfolio. Certain stages, like maturity, align between the two approaches.
3. Effectively managing a balanced portfolio across the life cycle stages and Boston Matrix categories is important for maintaining cash flow and investing in new products. The tools can help companies assess strengths, allocate resources, and make strategic decisions.
The document provides an overview of the BCG matrix, a portfolio analysis tool developed by the Boston Consulting Group in the 1970s. It outlines the history of BCG, defines key terms like market share and growth rate, describes the four categories in the BCG matrix (Stars, Question Marks, Cash Cows, and Dogs), and evaluates the benefits and limitations of using the BCG matrix to analyze a company's product portfolio.
The document discusses the Ansoff Matrix, which is a tool created by H. Igor Ansoff to help businesses decide their product and market growth strategy. The matrix suggests that a business' growth attempts depend on whether it markets new or existing products in new or existing markets. It outlines the four growth strategies as market penetration, market development, product development, and diversification. It provides a brief description of each strategy and the general risks associated with them.
The document provides an overview of business model components and strategies for direct and indirect sales channels. It discusses:
- The key components of a business model including customer segments, value propositions, channels, customer relationships, revenue streams, resources, activities and costs.
- Factors to consider for direct and indirect sales channels such as costs, target customers, partnerships, and balancing coverage between the two. Direct sales are suggested for high potential customers while indirect channels can help reach new customers.
- Examples of companies that use different balance of direct and indirect sales, such as Apple's mix of retail stores and partners, and Coca Cola relying entirely on indirect channels.
The Boston Matrix is a tool used to analyze a company's portfolio of products based on their relative market share and market growth rate. It sorts products into four categories: stars, cash cows, problem children, and dogs. Stars are high market share products in high growth markets. Cash cows have high market share but are in low growth markets. Problem children have low market share but are in high growth markets. Dogs have low market share and are in low growth markets. The matrix is used to help decide where to allocate resources and determine strategies for each type of product.
The Boston Matrix is a tool used to analyze a company's portfolio of products or business units. It categorizes products based on their relative market share and the market growth they operate in. This assigns them to one of four categories: stars, cash cows, question marks, and dogs. Stars have high market share in a high growth market and require investment. Cash cows have high share in a slow growth market and should be harvested. Question marks have low share in a fast market and require investment to determine their potential. Dogs have low share in a slow market and should be divested from or harvested. The matrix is useful but has limitations as it does not consider competitive dynamics or a product's life cycle over time.
This document discusses strategies for different types of competitors based on Philip Kotler's description of military-style marketing strategies. It describes six competitive positions - dominant, strong, favorable, tenable, weak, and nonviable. It also discusses four major types of competitors - market leaders, challengers, followers, and nichers. The document focuses on strategies for market leaders, including expanding the total market through adding new users, discovering new uses, increasing usage, and increasing frequency of use. It also discusses defending the current market share through position defense, flank defense, preemptive defense, counteroffensive defense, mobile defense, and contraction defense.
This document discusses portfolio analysis using the Boston Consulting Group (BCG) matrix. It begins by explaining the product life cycle and components of the BCG matrix including stars, cash cows, dogs, and question marks. It then provides examples of how the BCG matrix can be applied to analyze the product portfolios of ITC Ltd. and Maruti Suzuki. The document concludes by noting some limitations of only considering market growth rate and relative market share in the BCG matrix.
1. The document discusses the product life cycle and the Boston Matrix as tools for analyzing a company's product portfolio. It describes the stages of the product life cycle and the four categories in the Boston Matrix.
2. It explains the relationship between the two tools, noting that the product life cycle focuses on a single product over time while the Boston Matrix analyzes a company's entire portfolio. Certain stages, like maturity, align between the two approaches.
3. Effectively managing a balanced portfolio across the life cycle stages and Boston Matrix categories is important for maintaining cash flow and investing in new products. The tools can help companies assess strengths, allocate resources, and make strategic decisions.
The document provides an overview of the BCG matrix, a portfolio analysis tool developed by the Boston Consulting Group in the 1970s. It outlines the history of BCG, defines key terms like market share and growth rate, describes the four categories in the BCG matrix (Stars, Question Marks, Cash Cows, and Dogs), and evaluates the benefits and limitations of using the BCG matrix to analyze a company's product portfolio.
The document discusses the Ansoff Matrix, which is a tool created by H. Igor Ansoff to help businesses decide their product and market growth strategy. The matrix suggests that a business' growth attempts depend on whether it markets new or existing products in new or existing markets. It outlines the four growth strategies as market penetration, market development, product development, and diversification. It provides a brief description of each strategy and the general risks associated with them.
The document provides an overview of business model components and strategies for direct and indirect sales channels. It discusses:
- The key components of a business model including customer segments, value propositions, channels, customer relationships, revenue streams, resources, activities and costs.
- Factors to consider for direct and indirect sales channels such as costs, target customers, partnerships, and balancing coverage between the two. Direct sales are suggested for high potential customers while indirect channels can help reach new customers.
- Examples of companies that use different balance of direct and indirect sales, such as Apple's mix of retail stores and partners, and Coca Cola relying entirely on indirect channels.
The Boston Matrix is a tool used to analyze a company's portfolio of products based on their relative market share and market growth rate. It sorts products into four categories: stars, cash cows, problem children, and dogs. Stars are high market share products in high growth markets. Cash cows have high market share but are in low growth markets. Problem children have low market share but are in high growth markets. Dogs have low market share and are in low growth markets. The matrix is used to help decide where to allocate resources and determine strategies for each type of product.
The Boston Matrix is a tool used to analyze a company's portfolio of products or business units. It categorizes products based on their relative market share and the market growth they operate in. This assigns them to one of four categories: stars, cash cows, question marks, and dogs. Stars have high market share in a high growth market and require investment. Cash cows have high share in a slow growth market and should be harvested. Question marks have low share in a fast market and require investment to determine their potential. Dogs have low share in a slow market and should be divested from or harvested. The matrix is useful but has limitations as it does not consider competitive dynamics or a product's life cycle over time.
This document discusses strategies for different types of competitors based on Philip Kotler's description of military-style marketing strategies. It describes six competitive positions - dominant, strong, favorable, tenable, weak, and nonviable. It also discusses four major types of competitors - market leaders, challengers, followers, and nichers. The document focuses on strategies for market leaders, including expanding the total market through adding new users, discovering new uses, increasing usage, and increasing frequency of use. It also discusses defending the current market share through position defense, flank defense, preemptive defense, counteroffensive defense, mobile defense, and contraction defense.
This document discusses portfolio analysis using the Boston Consulting Group (BCG) matrix. It begins by explaining the product life cycle and components of the BCG matrix including stars, cash cows, dogs, and question marks. It then provides examples of how the BCG matrix can be applied to analyze the product portfolios of ITC Ltd. and Maruti Suzuki. The document concludes by noting some limitations of only considering market growth rate and relative market share in the BCG matrix.
This document provides an overview of key marketing concepts and terms. It defines marketing as a social and managerial process of obtaining what individuals and groups need and want through creating, offering, and exchanging products of value. It discusses the difference between needs, wants, and demands. It also outlines various marketing strategies and frameworks, including the marketing mix, Porter's generic strategies, SWOT analysis, and the BCG matrix model.
This document outlines the history and development of the BCG growth-share matrix, a tool created by the Boston Consulting Group in the 1970s to analyze business opportunities and competitive ability. It describes the key components of the matrix, including market share, market growth rate, and how products move through the product lifecycle. The matrix sorts products into four categories - stars, question marks, cash cows, and dogs - based on their market share and growth rate. It provides recommendations for resource allocation and investment for products in each category. While simple, the BCG matrix gives a quick way to evaluate opportunities and make strategic resource decisions.
The document discusses the Boston Consulting Group (BCG) Growth-Share Matrix, which is used for portfolio planning and analysis. The matrix categorizes business units into four quadrants - Stars, Question Marks, Dogs, and Cash Cows - based on their relative market share and market growth. Stars have high market share in high growth markets and require investment. Question Marks have low market share but are in high growth markets, so require actions to increase market share. Dogs have low market share and are in low growth markets, so should be harvested or divested. Cash Cows have high market share in low growth markets and should be protected to generate cash. The matrix is used to analyze portfolio balance and set strategies to increase, hold
This document summarizes a presentation on portfolio planning tools. It discusses what portfolio planning is, which involves intelligently spreading risk across investment options to enjoy diversification benefits. It then discusses two portfolio planning tools:
1) Portfolio Planning Tools (PPT), which is a stochastic modeling tool that helps advisors choose suitable asset allocations by comparing risk and return characteristics.
2) The Boston Consulting Group (BCG) Matrix, which is a portfolio planning model that classifies businesses into four categories (Stars, Question Marks, Cash Cows, and Dogs) based on their market growth and relative market share. The document explains how to use and interpret the BCG Matrix.
It concludes by discussing SPACE analysis
The document provides an overview of key marketing concepts including definitions of marketing, needs and wants, products, markets, and the marketing mix. It discusses the marketing concept, relationship marketing, and different marketing strategies like Porter's generic strategies. Various frameworks for analyzing markets and customers are also introduced, such as PEST analysis, VALS system, and Maslow's hierarchy of needs.
The document provides an overview of key concepts in marketing management. It defines marketing as a social and managerial process of creating and exchanging products of value to satisfy needs and wants. It discusses the difference between needs, wants and demands, and defines products, markets and the marketing mix of the four Ps - product, price, place and promotion. It also introduces concepts like relationship marketing, marketing strategy, and frameworks for analyzing markets and strategic business units.
This document discusses key components of intellectual property (IP) valuation including:
- Fields of use, which are specific applications that each IP asset must be valued for separately
- Present discounted value, which accounts for the time value of money and risks to calculate the current value of future profit streams
- Discount rates and factors that decrease further into the future and with more risk
- Methods for determining profit including cost-based, market-based, and analyzing the present discounted value of future profit streams under various factors
- Allocating profit between licensors and licensees, which considers up-front payments, milestones, royalties, and risk sharing
- Maximizing IP value by capturing all fields of use
This document summarizes a presentation about the BCG matrix, a tool for portfolio analysis and business strategy. It describes the components of the BCG matrix, including cash cows, stars, question marks, and dogs. It also discusses how to measure relative market share and market growth rate to analyze products on the matrix. Finally, it provides examples of products mapped to the BCG matrix and strategies for different portfolio positions, such as building question marks into stars or harvesting cash from dogs.
This document presents the Boston Consulting Group (BCG) matrix for analyzing a company's product portfolio. The matrix categorizes products as Stars, Cash Cows, Question Marks, or Dogs based on their relative market share and market growth. It then provides recommendations for each category: Stars should focus on increasing market share; Cash Cows should maximize cash flow; Question Marks require assessing growth potential and investing or withdrawing; Dogs should be divested or concentrated on profitable niches. Several issues with only using the BCG matrix are also noted, such as other factors influencing profitability beyond just market share and cash flow.
The BCG matrix is a tool used to evaluate a company's portfolio of business units based on their relative market share and market growth rate. It categorizes units as stars, cash cows, question marks, or dogs. For Pran, ketchup is classified as a star due to its market share of 7.6% in a high growth market. Spice powder is a question mark with low market share but a growth rate of 11%. Frooto is a cash cow with steady growth and a 5.8% market share. Power drink is labeled a dog with only 1% market share and slow growth.
How to find new customers and increase salesHpm India
This document provides guidance on defining your target market and generating sales leads. It recommends answering questions about who will buy your product and what value you offer to define your audience. Existing customers should be marketed to through bundling products, upselling, discounts, and rewards to increase sales. Potential new customers can be identified by analyzing metrics on how current customers were obtained and networking, and various outreach strategies like advertising, affiliates, and websites can generate new leads.
This document discusses various competitive strategies for companies in different market positions. It describes strategies for market leaders, such as protecting market share through continuous development. It also outlines strategies for challengers, such as innovative imitation of leaders. Finally, it discusses niche strategies, where companies target small, specialized markets, as well as strategies for economic downturns like emphasizing value and cost-effectiveness. Examples are provided to illustrate each strategy.
Team I - Markstrat Final Presentation at UC Davisbkfirebird
The document summarizes the strategies and lessons learned from Markstrat Team I. Some of the key points discussed include having the goals of becoming the stock price and ROI leader in the vodite market while maintaining a moderate presence in the sonite market. It discusses the team's process of quick data aggregation, consensus building, and focusing on R&D strategy. The document also provides insights on their product portfolio decisions, pricing strategies, handling competitor dynamics, production planning, and importance of financial metrics.
This document provides an overview of SWOT analysis, which examines an organization's internal strengths and weaknesses as well as external opportunities and threats. Strengths are beneficial qualities like resources and expertise, while weaknesses are deficiencies. Opportunities arise from favorable external conditions, and threats stem from potential problems in the environment. The document also gives examples of strengths, weaknesses, opportunities, and threats for a start-up business, and provides exercises to identify these factors in scenarios.
This document discusses product life cycles and strategies for entering new markets. It begins with an exhibit showing how opportunities evolve over time, with distinct introduction, growth, maturity, and decline stages. Later sections define categories of new products, discuss advantages and limitations of pioneering vs. following, and outline strategic options for pioneers like mass market penetration, niche penetration, and skimming. The document also addresses circumstances that make each pioneer strategy more likely to succeed and how marketing plans may differ under each approach.
Strategic management involves formulating, implementing, and evaluating cross-functional decisions to help an organization achieve its objectives. The document discusses strategic management models and processes, including environmental scanning using PEST and Porter's five forces analyses, internal analysis using SWOT and the value chain, and strategic formulation tools like BCG matrix and SPACE matrix. It also covers organizational structures, financial functions, and key financial statements like the income statement, balance sheet, and statement of cash flows.
The document discusses strategies that market challengers can use to attack market leaders. It presents two main strategies: 1) Defining the strategic objective and opponents by either directly attacking the market leader if they are not serving customers well, or going after smaller firms that are underfinanced. 2) Choosing an effective attack strategy such as a frontal, flank, encirclement, bypass, or guerrilla attack. The most important strategy is innovation.
This document discusses various competitive strategies for market leaders and challengers. It provides examples of how companies in different industries such as fast food, banking, and healthcare have implemented strategies like expanding their customer base, protecting market share through continuous development, and adapting their positioning across a product's lifecycle. The document also discusses strategies for companies during an economic downturn, including increasing value appeals to customers.
This chapter discusses competitive dynamics and provides 5 key points: 1) Lead, follow, or challenge the market. Firms can lead by having the largest market share or challenge the market through innovation. 2) Markets change over time so firms must reformulate strategies and differentiate. 3) Firms should research their market share, customers, and competitors to defend their market and find new customers. 4) Firms can find a niche in a small segment to avoid competition with larger firms. 5) Firms should continuously innovate, understand customer needs, and improve products and services to "beat the market".
Product Portfolio Strategies, BCG Matrix, How to make a BCG Matrix, Apple case study, BCG AND PLC, Merits and Demerits of BCG Matrix, GE Matrix, Merits and Demerits of GE Matrix
The document provides an overview of strategic marketing planning concepts. It discusses strategic planning processes including defining an organizational mission, setting objectives, and designing business portfolios. Methods for analyzing business portfolios such as the BCG matrix and GE planning grid are also outlined. The document then covers growth strategies like market penetration and product development as well as competitive strategies like market leadership. Finally, it describes key components of a marketing plan such as situation analysis, goals and objectives, marketing strategies, implementation, and evaluation.
The document discusses the new product development process. It involves 7 key steps: 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. The goal is to create new products that offer benefits to customers and satisfy market needs. Various techniques are used to evaluate ideas and concepts at each step to select the most viable new product options.
This document provides an overview of key marketing concepts and terms. It defines marketing as a social and managerial process of obtaining what individuals and groups need and want through creating, offering, and exchanging products of value. It discusses the difference between needs, wants, and demands. It also outlines various marketing strategies and frameworks, including the marketing mix, Porter's generic strategies, SWOT analysis, and the BCG matrix model.
This document outlines the history and development of the BCG growth-share matrix, a tool created by the Boston Consulting Group in the 1970s to analyze business opportunities and competitive ability. It describes the key components of the matrix, including market share, market growth rate, and how products move through the product lifecycle. The matrix sorts products into four categories - stars, question marks, cash cows, and dogs - based on their market share and growth rate. It provides recommendations for resource allocation and investment for products in each category. While simple, the BCG matrix gives a quick way to evaluate opportunities and make strategic resource decisions.
The document discusses the Boston Consulting Group (BCG) Growth-Share Matrix, which is used for portfolio planning and analysis. The matrix categorizes business units into four quadrants - Stars, Question Marks, Dogs, and Cash Cows - based on their relative market share and market growth. Stars have high market share in high growth markets and require investment. Question Marks have low market share but are in high growth markets, so require actions to increase market share. Dogs have low market share and are in low growth markets, so should be harvested or divested. Cash Cows have high market share in low growth markets and should be protected to generate cash. The matrix is used to analyze portfolio balance and set strategies to increase, hold
This document summarizes a presentation on portfolio planning tools. It discusses what portfolio planning is, which involves intelligently spreading risk across investment options to enjoy diversification benefits. It then discusses two portfolio planning tools:
1) Portfolio Planning Tools (PPT), which is a stochastic modeling tool that helps advisors choose suitable asset allocations by comparing risk and return characteristics.
2) The Boston Consulting Group (BCG) Matrix, which is a portfolio planning model that classifies businesses into four categories (Stars, Question Marks, Cash Cows, and Dogs) based on their market growth and relative market share. The document explains how to use and interpret the BCG Matrix.
It concludes by discussing SPACE analysis
The document provides an overview of key marketing concepts including definitions of marketing, needs and wants, products, markets, and the marketing mix. It discusses the marketing concept, relationship marketing, and different marketing strategies like Porter's generic strategies. Various frameworks for analyzing markets and customers are also introduced, such as PEST analysis, VALS system, and Maslow's hierarchy of needs.
The document provides an overview of key concepts in marketing management. It defines marketing as a social and managerial process of creating and exchanging products of value to satisfy needs and wants. It discusses the difference between needs, wants and demands, and defines products, markets and the marketing mix of the four Ps - product, price, place and promotion. It also introduces concepts like relationship marketing, marketing strategy, and frameworks for analyzing markets and strategic business units.
This document discusses key components of intellectual property (IP) valuation including:
- Fields of use, which are specific applications that each IP asset must be valued for separately
- Present discounted value, which accounts for the time value of money and risks to calculate the current value of future profit streams
- Discount rates and factors that decrease further into the future and with more risk
- Methods for determining profit including cost-based, market-based, and analyzing the present discounted value of future profit streams under various factors
- Allocating profit between licensors and licensees, which considers up-front payments, milestones, royalties, and risk sharing
- Maximizing IP value by capturing all fields of use
This document summarizes a presentation about the BCG matrix, a tool for portfolio analysis and business strategy. It describes the components of the BCG matrix, including cash cows, stars, question marks, and dogs. It also discusses how to measure relative market share and market growth rate to analyze products on the matrix. Finally, it provides examples of products mapped to the BCG matrix and strategies for different portfolio positions, such as building question marks into stars or harvesting cash from dogs.
This document presents the Boston Consulting Group (BCG) matrix for analyzing a company's product portfolio. The matrix categorizes products as Stars, Cash Cows, Question Marks, or Dogs based on their relative market share and market growth. It then provides recommendations for each category: Stars should focus on increasing market share; Cash Cows should maximize cash flow; Question Marks require assessing growth potential and investing or withdrawing; Dogs should be divested or concentrated on profitable niches. Several issues with only using the BCG matrix are also noted, such as other factors influencing profitability beyond just market share and cash flow.
The BCG matrix is a tool used to evaluate a company's portfolio of business units based on their relative market share and market growth rate. It categorizes units as stars, cash cows, question marks, or dogs. For Pran, ketchup is classified as a star due to its market share of 7.6% in a high growth market. Spice powder is a question mark with low market share but a growth rate of 11%. Frooto is a cash cow with steady growth and a 5.8% market share. Power drink is labeled a dog with only 1% market share and slow growth.
How to find new customers and increase salesHpm India
This document provides guidance on defining your target market and generating sales leads. It recommends answering questions about who will buy your product and what value you offer to define your audience. Existing customers should be marketed to through bundling products, upselling, discounts, and rewards to increase sales. Potential new customers can be identified by analyzing metrics on how current customers were obtained and networking, and various outreach strategies like advertising, affiliates, and websites can generate new leads.
This document discusses various competitive strategies for companies in different market positions. It describes strategies for market leaders, such as protecting market share through continuous development. It also outlines strategies for challengers, such as innovative imitation of leaders. Finally, it discusses niche strategies, where companies target small, specialized markets, as well as strategies for economic downturns like emphasizing value and cost-effectiveness. Examples are provided to illustrate each strategy.
Team I - Markstrat Final Presentation at UC Davisbkfirebird
The document summarizes the strategies and lessons learned from Markstrat Team I. Some of the key points discussed include having the goals of becoming the stock price and ROI leader in the vodite market while maintaining a moderate presence in the sonite market. It discusses the team's process of quick data aggregation, consensus building, and focusing on R&D strategy. The document also provides insights on their product portfolio decisions, pricing strategies, handling competitor dynamics, production planning, and importance of financial metrics.
This document provides an overview of SWOT analysis, which examines an organization's internal strengths and weaknesses as well as external opportunities and threats. Strengths are beneficial qualities like resources and expertise, while weaknesses are deficiencies. Opportunities arise from favorable external conditions, and threats stem from potential problems in the environment. The document also gives examples of strengths, weaknesses, opportunities, and threats for a start-up business, and provides exercises to identify these factors in scenarios.
This document discusses product life cycles and strategies for entering new markets. It begins with an exhibit showing how opportunities evolve over time, with distinct introduction, growth, maturity, and decline stages. Later sections define categories of new products, discuss advantages and limitations of pioneering vs. following, and outline strategic options for pioneers like mass market penetration, niche penetration, and skimming. The document also addresses circumstances that make each pioneer strategy more likely to succeed and how marketing plans may differ under each approach.
Strategic management involves formulating, implementing, and evaluating cross-functional decisions to help an organization achieve its objectives. The document discusses strategic management models and processes, including environmental scanning using PEST and Porter's five forces analyses, internal analysis using SWOT and the value chain, and strategic formulation tools like BCG matrix and SPACE matrix. It also covers organizational structures, financial functions, and key financial statements like the income statement, balance sheet, and statement of cash flows.
The document discusses strategies that market challengers can use to attack market leaders. It presents two main strategies: 1) Defining the strategic objective and opponents by either directly attacking the market leader if they are not serving customers well, or going after smaller firms that are underfinanced. 2) Choosing an effective attack strategy such as a frontal, flank, encirclement, bypass, or guerrilla attack. The most important strategy is innovation.
This document discusses various competitive strategies for market leaders and challengers. It provides examples of how companies in different industries such as fast food, banking, and healthcare have implemented strategies like expanding their customer base, protecting market share through continuous development, and adapting their positioning across a product's lifecycle. The document also discusses strategies for companies during an economic downturn, including increasing value appeals to customers.
This chapter discusses competitive dynamics and provides 5 key points: 1) Lead, follow, or challenge the market. Firms can lead by having the largest market share or challenge the market through innovation. 2) Markets change over time so firms must reformulate strategies and differentiate. 3) Firms should research their market share, customers, and competitors to defend their market and find new customers. 4) Firms can find a niche in a small segment to avoid competition with larger firms. 5) Firms should continuously innovate, understand customer needs, and improve products and services to "beat the market".
Product Portfolio Strategies, BCG Matrix, How to make a BCG Matrix, Apple case study, BCG AND PLC, Merits and Demerits of BCG Matrix, GE Matrix, Merits and Demerits of GE Matrix
The document provides an overview of strategic marketing planning concepts. It discusses strategic planning processes including defining an organizational mission, setting objectives, and designing business portfolios. Methods for analyzing business portfolios such as the BCG matrix and GE planning grid are also outlined. The document then covers growth strategies like market penetration and product development as well as competitive strategies like market leadership. Finally, it describes key components of a marketing plan such as situation analysis, goals and objectives, marketing strategies, implementation, and evaluation.
The document discusses the new product development process. It involves 7 key steps: 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. The goal is to create new products that offer benefits to customers and satisfy market needs. Various techniques are used to evaluate ideas and concepts at each step to select the most viable new product options.
The document discusses new product development and the product life cycle. It covers the causes of new product failures, barriers to new product development, and the criteria for successful new products. It then outlines the typical 7-step new product development process used by companies. This includes idea generation, screening, concept development, marketing strategy development, business analysis, product development, and test marketing. Finally, it discusses the 4 stages of the product life cycle - introduction, growth, maturity, and decline - and how marketing objectives and strategies differ at each stage. It also covers extending the product life cycle and factors that influence the length of each stage.
The document discusses several analytical methods used for strategic analysis including SWOT analysis, critical success factors analysis, matrix analysis, value chain analysis, and Porter's five forces analysis. It provides details on how to conduct a SWOT analysis, including examining a company's internal strengths and weaknesses as well as external opportunities and threats. It also outlines the key components of Porter's five forces model which examines the competitive environment including threats from new entrants, power of suppliers and buyers, and rivalry among existing competitors.
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.
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
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
The document discusses product life cycles and how they can be used for strategic marketing planning. It describes the typical stages a product goes through - development, introduction, growth, maturity, decline, and withdrawal. During each stage, different marketing strategies are most effective, such as high promotion during introduction, market share growth during maturity, and cost reduction during decline. Understanding a product's life cycle helps companies plan when to support, redesign, or withdraw a product.
The document discusses strategies for growing existing products and markets, launching new products, and diversifying business. When a current product is in the market, it can be grown by encouraging more purchases from existing customers, attracting customers from competitors, and convincing non-users. When launching a current product in a new market, distribution channels and locations can be expanded or potential new users identified. When a new product launches in an existing market, new features, quality levels, or technology can be improved. Diversification strategies include developing new products for new or existing customer segments using current or new technologies. The BCG matrix analyzes business units as question marks, stars, cash cows, or dogs based on market share and market growth to guide
Product portfolio analysis is a technique used by firms to identify the position of each product in its market. The Boston Matrix analyzes products based on their market share and market growth rate, categorizing them as stars, cash cows, question marks, or dogs. It can help businesses assess where to focus resources and identify future opportunities. While a useful framework, the Boston Matrix makes assumptions that are not always accurate and a product's positioning can change over time.
The document discusses product life cycles and product portfolios. It explains that managing a company's product portfolio is important for cash flow. It then provides details on the stages of the product life cycle: development, introduction, growth, maturity, saturation, decline, and withdrawal. Finally, it introduces the Boston Matrix method for analyzing a product portfolio based on market growth rate and market share classifications.
Haier Industries produces ceiling fans, portable fans, exhaust fans, air conditioners, refrigerators and other appliances. Its mission is to improve customers' quality of life while enhancing stakeholder value. It faces competition from companies like Anchor, Havells and Usha. Haier analyzes its products using the Boston Matrix to classify them as stars, cash cows, dogs or problem children. This helps inform strategies like investing in stars with high growth potential or using cash cows' revenues to fund new product development.
1. The document discusses the Boston Consulting Group (BCG) Matrix, a portfolio planning model created by BCG in 1970.
2. The BCG Matrix classifies business units into four categories based on their market share and market growth rate: Stars, Cash Cows, Question Marks, and Dogs.
3. Stars are high market share business units in high growth markets. Cash Cows are high market share units in low-growth markets. Question Marks have high growth but low market share. Dogs have low growth and market share.
1. The document discusses the Boston Consulting Group (BCG) Matrix, a portfolio planning model created by BCG in 1970.
2. The BCG Matrix classifies business units into four categories based on their market share and market growth rate: Stars, Cash Cows, Question Marks, and Dogs.
3. Stars are high market share business units in high growth markets. Cash Cows are high market share units in low-growth markets. Question Marks have high growth but low market share. Dogs have low growth and market share.
CEOThe mission of Knockout Shoes is to be recognized as a soci.docxtidwellveronique
CEO
The mission of Knockout Shoes is to be recognized as a socially responsible company providing high quality shoes for the North American and Latin American markets.
The overall strategy of Knockout Shoes is focused differentiation while addressing socially responsible business practices. The decisions by operations, financing, and marketing support this strategy because we have limited all production to North America and Latin American. We have limited sales to Wholesale and Internet sales in North America and Latin America. We have purchased the contracts of Ophrah Beyonse, Tiger Green, and Jose Montana. We have engaged in green manufacturing practices. We have limited the number of models sold. We use high-quality materials in the manufacturing process. We have provided sufficient capital to sustain operations. We have provided a return to stockholders and to society.
VPO
We produce all of our shoes in North America and Latin America because this allows for better control over the manufacturing process and reduces the cost to ship shoes to the two target markets. We limited our models to 50 to maintain better control over the manufacturing process and to limit the costs for styling. We have set our superior material usage rate at 80% to ensure a high quality shoe. We use green materials. We have set the enhanced styling features to $20,000 per model to support the production of a shoe that is perceived to be high quality. We have invested in energy efficiency. We use recycled boxing materials. Our entire workforce has received ethics training, and we have a diverse workforce. We spend $2,000 per worker on Best Practices Training.
VPM
We have set our wholesale price at $60 and our internet price at $85 because the shoes are high quality shoes. We sell only in North America and Latin America. We do not allow internet sales outside of North America and Latin America. We have contracted with Ophrah Beyonse, Tiger Green, and Jose Montana because these three have the best celebrity appeal scores for our two markets. We do not provide for private label production because it does not support our strategy of focused differentiation. We have set our advertising budget at $10,000,000. We offer a $3 rebate as part of our advertising strategy. We are able to provide delivery within 1 week because most of our shoes are manufactured in the country in which they are sold. We have few shipments between North America and Latin America.
VPF
We have issued 100,000 shares of stock and secured a 10-year bank loan of $8,000,000 to finance operations. We declared a dividend of $.15 to provide a return to stockholders. We have plans to ensure that ROE is at least 15% per year. We have plans to ensure that our cost of pairs sold is no more than 53%. We have plans to ensure that our default risk is no more than Medium. We have committed 3% of pre-tax profits for charitable contributions.
The New Product Development Proce ...
This document discusses Hindustan Unilever's (HUL) product portfolio analyzed using the BCG matrix. It provides details on how HUL's various products like hair care, skin care, premium soaps, etc. are classified into the BCG matrix quadrants of cash cows, stars, question marks, and dogs based on their relative market share and market growth rate. Strategies for each quadrant are also described, such as investing more in stars while retaining cash cows. The success and disaster sequences of moving between quadrants are explained. Finally, the strategies of build, hold, harvest and divest are outlined based on the BCG matrix analysis.
This document provides notes on key concepts from Philip Kotler's book "Marketing Management". It defines basic marketing terms like needs, wants, demands and products. It also summarizes Kotler's discussion of the marketing mix, relationship marketing, marketing concepts, strategic business units, the BCG matrix, SWOT analysis, and the components of a marketing plan.
1. Five Product Levels
Potential product – all possible
Augmented product – fresh flowers
Expected product – clean bed
Basic product – hotel room
Core benefit - Sleep
2. Product Mix
Width - number of
different product lines
Length - total number of
items
within the lines
Depth - number of
versions of each
product
Product Mix all the product
lines offered
3. Brand
Equity
Devoted
to Brand
Values the Brand
(brand as friend)
Satisfied & Switching Cost
Satisfied Customer
(no reason to change)
No Brand Loyalty
(customer will change)
5. The Buyer Decision Process for New
Products
• The adoption process is the mental process
that an individual passes through from first
learning about a new product to final
adoption (making the decision to become a
regular user).
• Consumers go through five stages in the
process of adopting a new product;
– awareness: the consumer becomes aware of the
new product but does not have information.
6. – interest: the consumer seeks information about the
new product.
– evaluation: the consumer considers whether trying
the new product is a good idea.
– trial: the consumer tries the new product to
understand its value.
– adoption: the consumer decides to make regular use
of the new product.
(AIETA)
7. Individual Differences in
Innovativeness
• People differ in their readiness to try new products.
After a slow start, an increasing number of people
adopt the new product. The number of adopters
reaches a peak and then drops off as very little
adopters remain.
• There are five adopter categorization on the basis of
time of adoption of innovations;
– Innovators: are the first 2.5 percent of the buyers, they are
adventurous, take risk, relatively younger, better educated,
have higher income, are more receptive to
8. –
–
–
–
unfamiliar things, rely more on their own values and
judgement, are less brand loyal and more likely to tae
advantage of special promotions e.g. discounts.
Early adopters: are the next 13.5 percent, are opinion
leaders in their communities and adopt new ideas
early but carefully.
Early majority: are rarely leaders but adopt new ideas
before the average person.
Late majority: adopt an innovation only after a
majority of people have tried it.
Laggards: are suspicious of changes and adopt the
innovation only when it has become tradition.
9. Adopter categorization on the basis of relative
time of adoption of innovations
13.5 %
early
innovators
2.5%
34%
34%
early late
majority majority
adopters
16%
laggards
10. BCG & GE Matrix
Relative Position
Business Strength
Market Attractiveness
Market Growth
(Market Share)
11. About GE Matrix
Developed by McKinsey & Company in
1970’s.
GE is a model to perform business portfolio
analysis on the SBU’s.
GE is rated in terms of ‘Market Attractiveness &
Business Strength’
It is an Enlarged & Sophisticated version of BCG.
14. Business Strength
Current market share
Brand image
Brand equity
Production capacity
Corporate image
Profit margins relative to competitors
R & D performance
Managerial personal
Promotional effectiveness
15. THE BCG GROWTH-SHARE
MATRIX
• It is a portfolio planning model which is based on the
observation that a company’s business units can be classified
in to four categories:
Stars
Question marks
Cash cows
Dogs
• It is based on the combination of market growth and market
share relative to the next best competitor.
16.
17. STARS
High growth, High market share
• Stars are leaders in business.
• They also require heavy investment, to
maintain its large market share.
• It leads to large amount of cash
consumption and cash generation.
• Attempts should be made to hold the
market share otherwise the star will
become a CASH COW.
18. CASH COWS
Low growth , High market share
• They are foundation of the company and
often the stars of yesterday.
• They generate more cash than required.
• They extract the profits by investing as little
cash as possible
• They are located in an industry that is
mature, not growing or declining.
19. DOGS
Low growth, Low market share
• Dogs are the cash traps.
• Dogs do not have potential to bring in
much cash.
• Number of dogs in the company should be
minimized.
• Business is situated at a declining stage.
20. QUESTION MARKS
High growth , Low market share
• Most businesses start of as question marks.
• They will absorb great amounts of cash if the
market share remains unchanged, (low).
• Why question marks?
• Question marks have potential to become star
and eventually cash cow but can also become
a dog.
• Investments should be high for question
marks.
21. WHY BCG MATRIX ?
To assess :
Profiles of products/businesses
The cash demands of products
The development cycles of products
Resource allocation and divestment
decisions
22. LIMITATIONS
• BCG MATRIX uses only two dimensions,
Relative market share and market growth rate.
• Problems of getting data on market share and
market growth.
• High market share does not mean profits all
the time.
• Business with low market share can be
profitable too.
23. BCG Matrix
(Three Paths to Success)
• Continuously generate cash cows and use the
cash throw-up by the cash cows to invest in
the question marks that are not selfsustaining
• Stars need a lot of reinvestments and as the
market matures, stars will degenerate into
cash cows and the process will be repeated.
• As for dogs, segment the markets and nurse
the dogs to health or manage for cash
24. Three Paths to Success (cont’d)
Relative Market Share
High
Low
High
Market
Growth
Rate
Low
25. BCG Matrix
(Three Paths to Failure)
• Over invest in cash cows and under invest
in question marks
– Trade further opportunities for present cash
flow
• Under invest in the stars
– Allow competitors to gain share in a high
growth market
• Over milked the cash cows
26. Three Paths to Failure (cont’d)
Relative Market Share
High
Low
High
Market
Growth
Rate
Low
27. GE Multifactor Portfolio Matrix
Industry Attractiveness
High
High
Medium
Protect
Position
Build
selectively
Medium
Invest to
Build
Selectively
manage for
earnings
Low
Build
selectively
Limited
expansion or
harvest
Invest/Grow
Selectivity
/earnings
Low
Protect &
refocus
Manage for
earnings
Divest
Harvest
/Divest
28. Major Stages in New-Product
Development (Fig. 9.1, p. 340)
Marketing
Strategy
Concept
Development
and Testing
Idea
Screening
Idea
Generation
Business
Analysis
Product
Development
Test
Marketing
Commercialization
29
29. New Product Development Process
New Product Development Process Step 1.
Idea Generation
Idea Generation is the Systematic Search for New
Product Ideas Obtained Internally From Employees and
Also From:
Customers
Competitors
Distributors
Suppliers
30
30. Step 1: Idea Generation/ NewProduct Strategies
Strategies for Obtaining New Product Ideas
Acquired
Companies
Original
Products
Acquired
Patents
Product
Improvements
Acquired
Licenses
Product
Modifications
New
Brands
31
31. New Product Development Process Step 2.
Idea Screening
• Process to spot good ideas and drop poor ones as
soon as possible.
• Many companies have systems for rating and
screening ideas which estimate:
–
–
–
–
–
Market Size
Product Price
Development Time & Costs
Manufacturing Costs
Rate of Return
• Then, the idea is evaluated against a set of general
company criteria.
32
32. New Product Development Process Step 3.
Concept Development
1. Develop New Product Ideas
into Alternative Detailed
Product Concepts
Product Image is the Way
Consumers Perceive an
Actual or Potential Product
2. Concept Testing - Test the
New Product Concepts with
Groups of Target Customers
3. Choose the One That Has the
Strongest Appeal to Target
Customers
33
33. New Product Development Process Step 4.
Marketing Strategy
Part One Describes Overall:
Target Market
Planned Product Positioning
Sales & Profit Goals
Market Share
Part Two Describes First-Year:
Product’s Planned Price
Distribution
Marketing Budget
Part Three Describes Long-Term:
Sales & Profit Goals
Marketing Mix Strategy
34
34. Step 5. Business Analysis
Step 6. Product Development
Business Analysis
Do Projected Sales, Costs, & Profits Meet Company Objectives?
Methods: payback, ROI, BE, NPV, IRR, project numbers
If No, Eliminate
Product Concept
If Yes, Move to
Product Development
35
35. New Product Development Process
Step 7. Test Marketing
Test Marketing is the Stage Where the Product and Marketing
Program are Introduced into More Realistic Market Settings.
Budget Levels
Packaging
Product
Elements that May
be Test Marketed
by a Company
Branding
Positioning
Advertising
Pricing
Distribution
36
36. New Product Development Process
Step 7. Test Market Types
Standard
Test Market
Controlled
Test Market
Full marketing campaign
in a small number of
representative cities.
A few stores that have
agreed to carry new
products for a fee.
Electronic Test
Market
Simulated
Test Market
Use split-cable
technology and
scanner
data
Test in a simulated
shopping environment
to a sample of
consumers.
37
37. Step 7: Test Marketing
• Characteristics of Good Test Markets
– .2 to 1.5% of the population
–
–
–
–
Good media coverage
Appropriate demographics
* Isolated media and distribution *
Length of the test = repurchase cycle
–
–
–
–
–
Expensive
Delays to market
Sabotage
Artificial
Industrial products
• Limitations of Test Markets
38
38. New Product Development Process
Step 8. Commercialization
Commercialization is the Introduction of
the New Product into the Marketplace.
When is the
Right Time to
Introduce
Product?
Where to
Launch a
New
Product?
39