Introducing New Market Offerings - 4E
20
Introducing New Market Offerings Marketing Management, 13 th ed 20
-
Upload
louis-tizon -
Category
Business
-
view
20 -
download
1
Transcript of Introducing New Market Offerings - 4E
Introducing New Market Offerings
Marketing Management, 13th ed
20
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 20-2
Categories of New Products
New-to-the-world
Cost reductions
New product lines
Additions
Improvements
Repositionings
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 20-3
The World’s Most Innovative Companies
• Apple• Google• Toyota• General Electric• Microsoft• Procter & Gamble• 3M• Walt Disney
• IBM• Sony• Wal-Mart• Honda • Starbucks• Target• BMW• Samsung
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 20-4
Seven Notions of Innovation• See the future through the eyes of your
customer• Intellectual property and brand power are key
assets• Use digital technology to create tools for
customers• Build a championship team• Innovation is a state of mind• Speed is critical, so push your organization• Partner up if you’re not the best
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 20-5
Factors That Limit New Product Development
• Shortage of ideas• Fragmented markets• Social and governmental constraints• Cost of development• Capital shortages• Faster required development time• Shorter product life cycles
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 20-6
Figure 20.2 The New Product Development Decision Process
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 20-7
Ways to Find Great New Ideas
• Run informal sessions with customers• Allow time off for technical people to
putter on pet projects• Make customer brainstorming a part of
plant tours• Survey your customers• Undertake “fly on the wall” research to
customers
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 20-8
More Ways to Find Great Ideas
• Use iterative rounds with customers• Set up a keyword search to scan trade
publications• Treat trade shows as intelligence
missions• Have employees visit supplier labs• Set up an idea vault
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 20-9
Drawing Ideas from Customers
• Observe customers using product• Ask customers about problems with
products• Ask customers about their dream
products• Use a customer advisory board or a
brand community of enthusiasts to discuss product
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 20-10
Idea Generation: Creativity Techniques
• Attribute listing• Forced relationships• Morphological
analysis• Reverse assumption
analysis• New contexts• Mind mapping
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 20-11
Lateral Mapping
• Gas stations + food• Cafeteria + Internet• Cereal + snacking• Candy + toy• Audio + portable
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 20-12
Variations on Failure
• Absolute product failure• Partial product failure• Relative product failure
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 20-13
Concepts in Concept Development
• Product idea• Product concept• Category concept• Brand concept• Concept testing
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 20-14
Concept Testing
• Communicability and believability• Need level• Gap level• Perceived value• Purchase intention• User targets, purchase occasions,
purchasing frequency
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 20-15
Marketing Strategy
• Target market’s size, structure, and behavior
• Planned price, distribution, and promotion for year one
• Long-run sales and profit goals and marketing-mix strategy over time
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 20-16
Figure 20.7 Product Life Cycle Sales for Three Product Types
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 20-17
Product Development• Quality function
deployment (QFD)• Customer attributes• Engineering attributes
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 20-18
What is Adoption?
• Adoption is an individual’s decision to become a regular user of a product.
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 20-19
Stages in the Adoption Process
Awareness
Interest
Evaluation
Trial
Adoption
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 20-20
Figure 20.6 Adopter Categorization
