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McGraw-Hill/Irwin. Product Line and Product Mix. Classifying Products ... Positioning and launching a new product in full-scale production and sales. ...
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Slide 2:Product Line and Product Mix Classifying Products Type of User Consumer goods Business goods Degree of Tangibility Services and New-Product Development
THE VARIATIONS OF PRODUCTS
Slide 3:Classification of Consumer Goods Convenience goods Shopping goods Specialty goods Unsought goods
CLASSIFYING CONSUMER AND BUSINESS GOODS
Slide 4:Classification of consumer goods
Slide 5:Classification of Business Goods Production Goods Support Goods Installations Accessory Equipment Supplies Services
CLASSIFYING CONSUMER AND BUSINESS GOODS
Slide 6:What is a New Product? Newness Compared with Existing Products Newness in Legal Terms Newness from the Company’s Perspective Newness from the Consumer’s Perspective
NEW PRODUCTS AND WHY THEY SUCCEED AND FAIL
Slide 7:Consumption effects define newness
Slide 8:Marketing Reasons for Failures Insignificant “point of difference” Incomplete market and product definition (Protocol) Too little market attractiveness Poor execution of the marketing mix Poor product quality or sensitivity Bad timing No economical access to buyers
NEW PRODUCTS AND WHY THEY SUCCEED AND FAIL
NEW-PRODUCT PROCESSSlide 10:New-Product Strategy Development Objectives of the Stage: Identify Markets and Strategic Roles 3M: Cross-Functional Teams, Six Sigma, and Lead Users
THE NEW-PRODUCT PROCESS
Slide 11:Idea Generation Customer and Supplier Suggestions Employee and Co-Worker Suggestions Research and Development Breakthroughs Competitive Products
THE NEW-PRODUCT PROCESS
Slide 12:Screening and Evaluation Internal Approach External Approach
THE NEW-PRODUCT PROCESS
Slide 13:Business Analysis Development Market Testing Test Marketing
THE NEW-PRODUCT PROCESS
Slide 14:Six important U.S. test markets
Slide 15:Market Testing Simulated Test Markets When Test Markets Don’t Work
THE NEW-PRODUCT PROCESS
Slide 16:Commercialization Burger King’s French Fries: The Complexities of Commercialization The Risks and Uncertainties of the Commercialization Stage Slotting fee Failure fee Speed as a Factor in New-Product Process
THE NEW-PRODUCT PROCESS
Slide 17:Marketing information and methods used in the new-product process
Slide 18:A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is received in exchanges for money or some other unit of value.
Product
Slide 19:A group of products that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same outlets, or fall within a given price range.
Product Line
Slide 20:Products purchased by the ultimate consumer.
Consumer Goods
Slide 21:Products that assist directly or indirectly in providing products for resale.
Business Goods
Slide 22:Items that the consumer purchases frequently and with a minimum of shopping effort.
Convenience Goods
Slide 23:Items for which the consumer compares several alternatives on criteria such as price, quality, or style.
Shopping Goods
Slide 24:Items that a consumer makes a special effort to search out and buy.
Specialty Goods
Slide 25:Items that the consumer either does not know about or knows about but does not initially want.
Unsought Goods
Slide 26:Items used in the manufacturing process that become part of the final product.
Production Goods
Slide 27:Items used to assist in producing other goods and services.
Support Goods
Slide 28:A statement that, before product development begins, identifies (1) a well-defined target market; (2) specific customer’ needs, wants, and preferences; an (3) what the product will do.
Protocol
Slide 29:The sequence of activities a firm uses to identify business opportunities and convert them to a salable good or service.
New-Product Process
Slide 30:Defining the role for a new product in terms of the firm’s overall corporate objectives.
New-Product Strategy Development
Slide 31:A means to “delight the customer” by achieving quality through a highly disciplined process to focus on developing and delivering near-perfect products and services.
Six Sigma
Slide 32:Developing a pool of concepts as candidates for new products.
Idea Generation
Slide 33:The third stage of the new product process which involves internal and external evaluations of the new-product ideas to eliminate those that warrant no further effort.
Screening and Evaluation
Slide 34:Involves specifying the features of the product and the marketing strategy needed to commercialize it and making necessary financial projections.
Business Analysis
Slide 35:Turning the idea on paper into a prototype.
Development
Slide 36:Exposing actual products to prospective consumers under realistic purchase conditions to see if they will buy.
Market Testing
Slide 37:Positioning and launching a new product in full-scale production and sales.
Commercialization
Slide 38:Payment manufacturer makes to place a new item on a retailer’s shelf.
Slotting Fee
Slide 39:A penalty payment made by a manufacturer to compensate the retailer for sales its valuable shelf space never made.
Failure Fee
