logging in or signing up marketing kanwalgurleen Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 652 Category: Entertainment License: All Rights Reserved Like it (0) Dislike it (0) Added: November 12, 2008 This Presentation is Public Favorites: 1 Presentation Description No description available. Comments Posting comment... By: naggarus (35 month(s) ago) Dear sir i am realy in need for your valuble ppt could you kindly snd it to me on (M_naggaru@yahoo.com) Thanks in advance for your support Saving..... Post Reply Close Saving..... Edit Comment Close Premium member Presentation Transcript Developing and Managing Products : 1 Developing and Managing Products Course Instructor: Kanwal Gurleen Lecturer, LSB Learning Objectives : 2 Learning Objectives 1. Explain the importance of developing new products and describe the six categories of new products. 2. Explain the steps in the new-product development process. Learning Objectives (continued) : 3 Learning Objectives (continued) 3. Explain the diffusion process through which new products are adopted. 4. Explain the concept of product life cycles. Learning Objective : 4 Learning Objective Explain the importance of developing new products and describe the six categories of new products. New Product : 5 New Product A product new to the world, the market, the producer, the seller, or some combination of these. 1 Categories of New Products : 6 Categories of New Products Learning Objective : 7 Learning Objective Explain the steps in the new-product development process. Successful New-Product Development Process : 8 Successful New-Product Development Process New-Product Development Process : 9 New-Product Development Process Idea Generation : 10 Idea Generation 2 Brainstorming : 11 Brainstorming The process of getting a group to think of unlimited ways to vary a product or solve a problem. Idea Screening : 12 Idea Screening The first filter in the product development process, which eliminates ideas that are inconsistent with the organization’s new-product strategy or are inappropriate for some other reason. Concept Test : 13 Concept Test A test to evaluate a new-product idea, usually before any prototype has been created. Business Analysis : 14 Business Analysis Development : 15 Development Creation of prototype Marketing strategy Technical production feasibility Final government approvals if needed Simultaneous Product Development : 16 Simultaneous Product Development A new team-oriented approach to new-product development. 2 Test Marketing : 17 Test Marketing The limited introduction of a product and a marketing program to determine the reactions of potential customers in a market situation. Choosing a Test Market : 18 Choosing a Test Market Similar to planned distribution Relative isolation and free of influences Advertising availability; multiple media Diversified cross section No atypical purchase habits Representative population/income Not overly used or easily “jammed” Year-round sales stability Available research/audit and retailers Alternatives to Test Marketing : 19 Alternatives to Test Marketing Single-source research using supermarket scanner data Simulated (laboratory) market testing Commercialization : 20 Commercialization Learning Objective : 21 Learning Objective Explain the diffusion process through which new products are adopted. Diffusion : 22 Diffusion The process by which the adoption of an innovation spreads. Categories of Adopters : 23 Categories of Adopters Categories of Adopters : 24 Categories of Adopters Learning Objective : 25 Learning Objective Explain the concept of product life cycles. Product Life Cycle : 26 Product Life Cycle A concept that provides a way to trace the stages of a product’s acceptance, from its introduction (birth) to its decline (death). PLC Product Life Cycle : 27 Product Life Cycle Extending the PLC : 28 Extending the PLC Change product Change product use Change product image Change product positioning Introductory Stage : 29 Introductory Stage High failure rates Little competition Frequent product modification Limited distribution High marketing and production costs Negative profits Promotion focuses on awareness and information Intensive personal selling to channels Full-Scale Launch of New Products Growth Stage : 30 Growth Stage Increasing rate of sales Entrance of competitors Market consolidation Initial healthy profits Promotion emphasizes brand ads Goal is wider distribution Prices normally fall Development costs are recovered Offered in more sizes, flavors, options Maturity Stage : 31 Maturity Stage Declining sales growth Saturated markets Extending product line Stylistic product changes Heavy promotions to dealers and consumers Marginal competitors drop out Prices and profits fall Niche marketers emerge Many consumer products are in Maturity Decline Stage : 32 Decline Stage Long-run drop in sales Large inventories of unsold items Elimination of all nonessential marketing expenses Rate of decline depends on change in tastes or adoption of substitute products Marketing Strategies for PLC : 33 Marketing Strategies for PLC Diffusion Process and PLC Curve : 34 Diffusion Process and PLC Curve You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.
marketing kanwalgurleen Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 652 Category: Entertainment License: All Rights Reserved Like it (0) Dislike it (0) Added: November 12, 2008 This Presentation is Public Favorites: 1 Presentation Description No description available. Comments Posting comment... By: naggarus (35 month(s) ago) Dear sir i am realy in need for your valuble ppt could you kindly snd it to me on (M_naggaru@yahoo.com) Thanks in advance for your support Saving..... Post Reply Close Saving..... Edit Comment Close Premium member Presentation Transcript Developing and Managing Products : 1 Developing and Managing Products Course Instructor: Kanwal Gurleen Lecturer, LSB Learning Objectives : 2 Learning Objectives 1. Explain the importance of developing new products and describe the six categories of new products. 2. Explain the steps in the new-product development process. Learning Objectives (continued) : 3 Learning Objectives (continued) 3. Explain the diffusion process through which new products are adopted. 4. Explain the concept of product life cycles. Learning Objective : 4 Learning Objective Explain the importance of developing new products and describe the six categories of new products. New Product : 5 New Product A product new to the world, the market, the producer, the seller, or some combination of these. 1 Categories of New Products : 6 Categories of New Products Learning Objective : 7 Learning Objective Explain the steps in the new-product development process. Successful New-Product Development Process : 8 Successful New-Product Development Process New-Product Development Process : 9 New-Product Development Process Idea Generation : 10 Idea Generation 2 Brainstorming : 11 Brainstorming The process of getting a group to think of unlimited ways to vary a product or solve a problem. Idea Screening : 12 Idea Screening The first filter in the product development process, which eliminates ideas that are inconsistent with the organization’s new-product strategy or are inappropriate for some other reason. Concept Test : 13 Concept Test A test to evaluate a new-product idea, usually before any prototype has been created. Business Analysis : 14 Business Analysis Development : 15 Development Creation of prototype Marketing strategy Technical production feasibility Final government approvals if needed Simultaneous Product Development : 16 Simultaneous Product Development A new team-oriented approach to new-product development. 2 Test Marketing : 17 Test Marketing The limited introduction of a product and a marketing program to determine the reactions of potential customers in a market situation. Choosing a Test Market : 18 Choosing a Test Market Similar to planned distribution Relative isolation and free of influences Advertising availability; multiple media Diversified cross section No atypical purchase habits Representative population/income Not overly used or easily “jammed” Year-round sales stability Available research/audit and retailers Alternatives to Test Marketing : 19 Alternatives to Test Marketing Single-source research using supermarket scanner data Simulated (laboratory) market testing Commercialization : 20 Commercialization Learning Objective : 21 Learning Objective Explain the diffusion process through which new products are adopted. Diffusion : 22 Diffusion The process by which the adoption of an innovation spreads. Categories of Adopters : 23 Categories of Adopters Categories of Adopters : 24 Categories of Adopters Learning Objective : 25 Learning Objective Explain the concept of product life cycles. Product Life Cycle : 26 Product Life Cycle A concept that provides a way to trace the stages of a product’s acceptance, from its introduction (birth) to its decline (death). PLC Product Life Cycle : 27 Product Life Cycle Extending the PLC : 28 Extending the PLC Change product Change product use Change product image Change product positioning Introductory Stage : 29 Introductory Stage High failure rates Little competition Frequent product modification Limited distribution High marketing and production costs Negative profits Promotion focuses on awareness and information Intensive personal selling to channels Full-Scale Launch of New Products Growth Stage : 30 Growth Stage Increasing rate of sales Entrance of competitors Market consolidation Initial healthy profits Promotion emphasizes brand ads Goal is wider distribution Prices normally fall Development costs are recovered Offered in more sizes, flavors, options Maturity Stage : 31 Maturity Stage Declining sales growth Saturated markets Extending product line Stylistic product changes Heavy promotions to dealers and consumers Marginal competitors drop out Prices and profits fall Niche marketers emerge Many consumer products are in Maturity Decline Stage : 32 Decline Stage Long-run drop in sales Large inventories of unsold items Elimination of all nonessential marketing expenses Rate of decline depends on change in tastes or adoption of substitute products Marketing Strategies for PLC : 33 Marketing Strategies for PLC Diffusion Process and PLC Curve : 34 Diffusion Process and PLC Curve