chapter9 new product development and plc
TRANSCRIPT
Resources:
Marketing an Introduction / Gary Armstrong, Philip Kotler
New Product Development and Life Cycle Strategies
New Product Development Strategy
Idea generationIdea generation
Idea screeningIdea screening
Concept developmentand testing
Concept developmentand testing
Marketingstrategy
Marketingstrategy
Businessanalysis
Businessanalysis
Test marketing
Test marketing
CommercializationCommercialization
Product development
Product development
Idea Generation and Screening
Generation Process
•Internal sources•Customers•Competitors•Distributors and suppliers
Generation Process
•Internal sources•Customers•Competitors•Distributors and suppliers
Screening Process
•Usefulness •Relevance to strategy•Resources•Advertising and etc.
Screening Process
•Usefulness •Relevance to strategy•Resources•Advertising and etc.
Concept Development and Testing
Concept Development
Detailed version of new product ideastated in meaningfulconsumer terms.
Concept Development
Detailed version of new product ideastated in meaningfulconsumer terms.
Concept Testing
Involves testing new product concept with groupsof target consumers.
Concept Testing
Involves testing new product concept with groupsof target consumers.
Marketing Strategy
• Target market• Product positioning• Sales, market share,profit goals for few years
• Target market• Product positioning• Sales, market share,profit goals for few years
• Product price• Distribution• Marketing budget for first years
• Product price• Distribution• Marketing budget for first years
• Long-run sales• Profit goals• Marketing mixstrategy
• Long-run sales• Profit goals• Marketing mixstrategy
Part 1 Part 2 Part 3
Business Analysis
A review of the sales, costs, and profit projections for a new product to find out whether these factors satisfy the company’s objectives.
Product Development
Developing the product concept into a physical concept in order to ensure that the product idea can be turned into a workable product.
Test Marketing
The stage of new product development in which product and marketing program are tested in more realistic marketing settings.
Commercialization
Introducing a new product into the market.
Product Life-Cycle Strategies