Download - Product planing and development
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PRODUCT PLANNIGN AND DEVLOPMENT II
RANJANI R 28
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A product is offered to a market attention, aquisitition, use or consumption that can satisfy a need or want.Products : cars, computers, cell phones (tangible)Products : services, persons, events, places, organizations, ideasMost important : services. Services : activities, benefits, satisfactions (intangible)
What is a Product ?
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Price = sum of all the values that customers give up in order to gain the benefits of having or using a product or
service.* Major factors affecting buyer choice* Only element in marketing mix that
produces revenue.* Most flexible among all.* Can be changed quickly* Plays a key role in creating customer value
& building customer relationship.
What is Price ?
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CONSUMER PRODUCT- 1.CONVENIENCE PRODUCTS 2.SHOPPING PRODUCTS 3.SECIALTY PRODUCTS.
PRODUCT AND SERVICES CLASSIFICATION
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UNSOUGHT PRODUCTS:-A category of goods and services which the buyer (a) is unaware of, or (b) would prefer not to think about buying.
INDUSTRIAL PRODUCTS:-Products which are not so widely for public use, only for some specific area and detail industrial customers
PRODUCTS-
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NEW PRODUCT DEVELOPMENT STRATEGY
A firm can obtain new products in two ways.
I. One is through acquisition-by buying a whole company ,a patent ,or a license to produce someone else’s product.
II. The other is through the firm’s own ‘NEW-PRODUCT DEVELOPMENT’ efforts .By new products we mean original products, product improvements , product modification, and new brands that the firm develop through its own research and development efforts
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WHY DO SO MANY NEW PRODUCTS FAILS? Due to high price then it deserves. Overestimate market size
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1. Idea generation
2. Screaming of idea
3. Business analysis
Stages in the development process
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Prototype development:-
Market tests:-
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. COMMERCIALIZATION:-
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MANAGING NEW PRODUCT DEVELOPMENT
Strategic Flexible Interactive Integrative Ongoing
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PRODUCT LIFE CYCLE STRATEGY
• Product Development• Introduction• Growth• Maturity • Decline
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• Style• Fashion• Fad
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Not all de products has de same life cycle. Some is introduce and die. Eg Motorola
Some stay in maturity stage for a longer time. Sony Play Station 1.
Some enter in decline stage n then cycled backed into growing stage through the strong promotion.
Well managed brand could live forever.
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PRODUCT DECISIONS AND SOCIAL RESPONSIBILITY
INTERNATINAL PRODUCT AND SERVICE MARKETING.
ADDITIONAL PRODUCT AND SERVICE CONSIDERATIONS
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DEVELOPING A STRATEGIC MARKETING PLAIN TAKES WORK-A FIRM UNDERSTANDING OF THE MARKETS YOU PLAIN TO SELL TO,THE PRODUCT YOU AND YOUR COMPETITORS OFFER, YOUR BUSINESS OBJECTIVES, ND BGET.
HOW TO DEVELOP A MARKETING STRATEGY
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PART ONE- MARKET: PART TWO – PRODUCT PART THREE- BUSINESS OBJECTIVES: PART FOUR- MARKETING BUDGET,
PRIOR EFFORTS AND RESULTS, OTHER PLANNED TACTICS AND TIMING.
PARTS
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THANKYOU HAVE A GOOD DAY