Presentation Transcript
Products Decisions: Products Decisions Product and Service Classification System
The Product Life Cycle
Introduction to product matrices
Boston Matrix (Growth/Share)
Ansoff’s Matrix (Product Market)
Product and Service Classification System: Product and Service Classification System Convenience goods - little effort, relatively inexpensive
Shopping goods - e.g ‘white goods’, DIY equipment, more expensive, infrequent
Speciality goods - extensive search e.g Jewellery, gourmet food
Unsought goods - e.g. double glazing,
Slide3: Industrial goods
Installations - ‘speciality’ goods of industrial markets - plant and machinery
Accessories - maintenance and office equipment
Raw materials
components
Business to business e.g. consultants, accountants
Slide4: Few: Few: trial of trial of early early adopters adopters Growing adopters: Growing adopters: trial of trial of product/service product/service Entry of Entry of competitors competitors Growing selectivity Growing selectivity of purchase of purchase May be many May be many Saturation of Saturation of users users Repeat purchase Repeat purchase reliance reliance Fight to maintain Fight to maintain share share Drop-off Drop-off in usage in usage Exit of some Exit of some competitors competitors Development Development Growth Growth Maturity Maturity Decline Decline The life product cycle model
Slide5: Market Share Market
Growth High Low High Low 1. Stars 3. Question
Mark (Problem
Child) 2. Cash Cows 4. Dogs The Boston Matrix (Growth/Share Matrix)
Slide6: Market Share Market
Growth High Low High Low FUSE Maverick
Miniature Heroes KIT KAT
MARS BAR TOPIC
BOUNTY The Boston Matrix - Chocolate Bars
Slide7: Diversification Market Penetration Market Development Product Development Existing Markets New Markets Existing Products New Products Ansoff’s Matrix (Product/Market Matrix)
Slide8: Diversification -
related or unrelated E.g. Realignments of the marketing mix E.g. Geographical
expansion Same outlets and
sales strategy
- new product Existing Markets New Markets Existing Products New Products Ansoff’s Matrix (Product/Market Matrix)
Slide9: Products Decisions Product and Service Classification System?
The Product Life Cycle stages?
Growth/Share?
Product Market?