Chap010

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Chap010

  1. 1. 10<br />THE PRODUCT EXPERIENCE: PRODUCT STRATEGY<br />Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved<br />McGraw-Hill/Irwin<br />
  2. 2. LEARNING OBJECTIVES<br />Understand the essential role of the product experience in marketing<br />Define the characteristics of a product <br />Recognize how product strategies evolve from one product to many products<br />Understand the life of a product and how product strategies change over time<br />10-2<br />
  3. 3. Product Characteristics<br />Define the Product<br />Essential Benefit<br />Core Product<br />Enhanced Product<br />10-3<br />
  4. 4. Four Products and Their Essential Benefits<br />10-4<br />
  5. 5. Defining the Product at Southwest Airlines<br />EXHIBIT 10.2<br />Enhanced Product<br />Experiences exceed minimum expectations<br />Frequent flyer programs<br />Reserved seating<br />Core Product<br />On time<br />Safe<br />Experience matches expectations<br />Essential Benefit<br />Moving from Point<br />A to Point B<br />10-5<br />
  6. 6. Product Classifications<br />Tangibility – physical aspects of the product experience<br />Durability – product usage<br />10-6<br />
  7. 7. Product Classifications<br />Consumer Goods<br />10-7<br />
  8. 8. Product Classifications<br />Business Goods<br />10-8<br />
  9. 9. Product Discrimination: Create a Point of Differentiation<br />10-9<br />
  10. 10. Product Plan: Moving from One Product to Many Products<br />Product Line<br />Product Mix<br />10-10<br />
  11. 11. Product Decisions Affect other Marketing Mix Elements<br />Pricing<br />Marketing Communications<br />10-11<br />
  12. 12. THE LIFE OF THE PRODUCT: BUILDING THE PRODUCT EXPERIENCE<br />Product Life Cycle<br />Product Life Cycle Sales Revenue and Profitability<br />Product Life Cycle Timeline<br />Product Life Cycle Caveats<br />10-12<br />
  13. 13. The Product Life Cycle<br />EXHIBIT 10.12<br />Reprinted from Roger Kerin, Steven Hartley and William Rudelius, Marketing 9E, 2009.<br />10-13<br />
  14. 14. Product Life Cycle<br />Introduction Phase<br />10-14<br />
  15. 15. Product Life Cycle<br />Growth Phase<br />10-15<br />
  16. 16. Product Life Cycle<br />Maturity Phase<br />Phase defined by the sales growth of the product category<br />Relative Market Expansion<br />Market Stability<br />Market Deterioration<br />10-16<br />
  17. 17. Product Life Cycle<br />Maturity Phase<br />10-17<br />
  18. 18. Product Life Cycle<br />Decline Phase<br />10-18<br />
  19. 19. Thank You, Please Visit Us At :<br />http://wanbk.page.tl<br />

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