Marketing
The Product Life Cycle
Introduction
Growth
Maturity
Decline
Define Introduction - The Product Life Cycle
Create Customer awareness: Slow sales growth, high R&D cost; high marketing spending
Price skimming
Penetration pricing
Define Growth - The Product Life Cycle
Product differentiation - Increase in sales, profit, distribution and competition. New features added; price reflex competition profits often
Define Maturity - The Product life cycle
Focus on market share - Slowdown of growth in sales and profit well-established competition. Pricing is a promotional tool and product innovation is a priority
Define Decline - The product life cycle
Delete, reinvent, or harvest - Harvesting company keeps product but reduces marketing support in attempt to recap profits
Describe high-learning products
Extended introductory period, consumer education is required; Example: movie streaming services
Describe Low-Learning Product
Short introductory stage, benefits self-evident, little consumer education required. Example: Apple aripods
Modifying the market
Finding new customers (Harley Davidson = Women)
Increasing product use (Cambell soup... = Warm months)
Creating a new situation (Rice Crispies... = Baking ingredient)
Repositioning a product
Motorola Flip phone?
New product: Type of product
Minor innovation
Continuous Innovation
Radical Innovation
Define Minor Innovations (and Example and Marketing emphasis)
Requires no new learning by consumers
Example: New and improved toothpaste or detergent
Marketing Emphasis: Gain consumer awareness and wide distribution
Define Continuous Innovation (Example and Marketing Emphasis)
Changes consumers normal routine but does not require totally new learning
Example: Swiffer wet jet - Wearable technology
Marketing Emphasis: Advertise points of difference and benefits to consumers
Define Radical Innovations (Example and Marketing Emphasis)
Requires new learning and consumption patterns by consumers.
Example: Amazon Alexa or google home; Self - driving cars; 3D Printers
Marketing Emphasis: Educate consumers through advertising product trial, and personal selling; public relations can play a major role
The Adoption Curve
Innovators - 2.5%
Early Adopters - 13.5%
Early Majority - 34%
Late Majority - 34%
Laggards - 16%
The adoption Curvem - Innovators
Venturesome; higher educated: Use multiple information source
The adoption curve - Early Adopters
Leaders in social settings; slightly above average education
The adoption curve - Early Majority
Deliberate: Marry informal social contacts
The adoption Curve - Late Majority
Skeptical: Below average social Status
The adoption Curve - Laggards
Fear of debt: Neighbours and friends are information sources
New 7 Product Development Process
1. New product development strategy
2. Idea Generation
3. Screening and evaluation
4. Business Analysis
5. Development
6. Test Marketing
7. Commercialization
Describe New Product Development Strategy
Identify new-product development focus that meets company objectives
Describe Idea Generation
Brainstorm new ideas
Describe Screening and evaluation
Evaluate product ideas and develop concepts
Describe Busness Analysis
identify the product features and its marketing strategy and make financial projections
Describe Test Marketing
Test the product and marketing strategy in the marketplace on a limited scale (if necessary)
Describe Development
Create the prototype and test it internally at the company and externally with consumers
Describe Commercialization
Launch and fully market the product in the marketing
Penetration pricing
Low Initial price for new products
Prestige Pricing
High Prices so that quality or status-conscious consumers are attracted.
Describe Above, at, or below market pricing
"Market Price" Is what customers are generally willing to pay; used as a benchmark.
- Above: Rolex
- At:
- Below: Walmart
| Quiz |
|---|
| Unit 7 bio test 2 |
| Netacad |
| Unit 7 bio test 1 |
| ge se2 |
| Science-Space |
| deathwatch vocab |
| chimie |
| Business-Booklet D |
| Chirugie Maxillo-Faciale - Pathologies des glandes salivaires |
| Chirurgie Maxillo-Faciale - Infections |
| Bio 111L 2 Verterbrae |
| Social Unit 4 Definitions |
| Science |
| Key Dates |
| Medieval History |
| Chem |
| À la manière de |
| Modern History |
| Médicaments |
| Electrolytes |
| german vocab 10 |
| Oscars Best Actor/ActressOscars for Best Actor/Actress since 1968 |
| bonding structure and properties of matter |
| Unit 6 bio part 2 |
| US Secretaries of StatePost-WWII US Secretaries of State |
| US First LadiesPost-WWII US First Ladies |
| spanish speaking theme 3 |
| science examscience examination
(Physics, Earth science + Cosmology) |
| Chirurgie maxillo-faciale - Tumeurs bénignes |
| duits h2 4 |
| duits h2 3 |
| Data Collection Strategies |
| Mouvement et interracction |
| In-flight Emergencies |
| Molecular Genetics Part 1 |
| ciclo de krebs |
| male reproductive system |
| Bio lecture 24 slide 6 to lecture 27 |
| nederlands |
| toetsweek 1 bv |
| pneumoritis |
| Indiginous Terms |
| anti biotic Archaea bacillus Bacteria bacteriocin bacteriophage binary fission c |
| duits h2 2 |
| Prions, Viruses, Arcaea, Bacteria and Protists quiz reveiw |
| Prions, Viruses, Archaea, Bacteria, and Protists |
| duits h2 |
| Portuguese from Reddit |
| Prefixes 2Decoding Body Part Prefixes |
| Prefixes 1Decoding "Common" Terminologies |
| Bio - Unit 6 part 1 |
| nucelar fissionwhat it nucelur fission,how it works, how it happens, how its used , how nulceur power plant works |
| GONG CHA |
| Inflight Emergencies |
| Aircraft Systems |
| driving test |
| Translate these sentences into Japanese |
| midterm 4 |
| español 2 |
| ♡ Préposition |
| Biology midterm |
| proteins |
| German |
| Furniture |
| Disney |
| derivativeslatin |
| law |
| Pelear |
| ♡♡ |
| prov tyska |
| Socialpsykologi tenta |
| EnglishVocabulary |
| RFI Ranges 200bb (GTO Wizard) |
| Taals |
| Meiosis & Mitosis |
| juridik😪bye |
| spanish 2 |
| OPTA 222 (Renal System patho and disorders) |
| nederlands begrijpend lezen 2 |
| notions de philo |
| Lvl 3 Specs |
| Privatjuridik successionsrättjuridik |
| Fysiskt stridsvärde |
| state nicknames |
| Film FranchisesHunger Games, Wonka, Paddington, ... |
| ak se2 |
| Histoire : Rome domine la Méditerranée antiqueRome domine la Méditerranée antique du IIe (2e) siecle av. J.C au IV (4e) siècle ap. J.C |
| Histoire : Athènes, une thalassocratie. |
| Minerals |
| ♡ Questions |
| Ordtest v.47 |
| patie 4 |
| ♡ ropa |
| religion chapter 5 vocabvocab |
| french - education |
| nederlands begrijpend lezen |
| partie 3 |
| Ropas |
| partie 2 |
| partie 1 |
| Science Part bPractice test/ flashcards |
| Chirurgie générale - Pathologies bénignes et malignes du foie |
| bokföring |
| Business Booklet A |
| Chirurgie Générale - Tumeurs de l'oesophage |
| microbiology |
| Business Booklet C |
| flashcards ECO |
| Transactions émotionnelles |
| Renal |
| Privatjuridik familjerättjuridik |
| Business Bookelet B |
| Travel- Booklet C&D |
| completed |
| Maslow's New Hierarchy of Needs |
| Business Test 3 |
| Booklet E- Types of outflows |
| Booklet E- Types of Inflows |
| Information and Promotional Service Providers. |
| Trade Associations, Government departments and Regulatory Bodies. |
| Metod Social Psykologi |
| Phlebotomy final study |
| le accent |
| Atomic Size (Pre-IB SC 9) |
| Hospitality |
| Canadian stduies |
| JROTC Inspection Questions |
| history of Generative AI |
| Leadership |
| English - Dracula Quizg7uu |
| MANICURE AND PEDICURE TEST |
| BIO Examen 3 |
| Reneasia Turnerspelling |
| Biodiversity |
| Travel- Booklet B |
| Travel- Booklet A |
| bio208 midterm 2 |
| nederlands ( woord- synoniem) |
| spanish grammer |
| physics |
| Journalism vocab |
| french word revisonunit 4 higher vocab |
| Förenklad arabiska Glosor |
| AS UNIT 1.1 BIOflash cards |
| Electrotherapy |
| Psychologypsychology 104 - |
| Produit intérieur brutquiz |
| Medieval medicine 1250-1500 GSCEKnowledge Organiser - Topic One: Medieval Medicine 1250-1500
Medieval Britain
Key Words
Superstition
A belief, not based on knovledge, but in the
Medieval Britain is the period between 1250-1500 also ... |
| economie globale |
| Medieval medicine |
| Chapter 6- Chemical reactivity and mechanisms |
| Frencv high frequency words |
| Elements columns 3&4elements |
| GEN-PSYC Test #5 |
| aardrijkskunde |
| Infectious Disease |
| History - WWII, Fall of Singapore & Kokoda -ajaks quiz for history |
| goat production traits, reproduction traits and structural traits that are best |
| goat production traits, reproduction traits and structural traits that are best |
| 7 physical and chemical changes 17physical changes is when something that CAN be undo for example tearing a piece of paper, u can stick them back together
chemical changes is something that CANT be undo for example tarnish forming ri... |
| chicken digestive system and egg production system, egg incubation australia, |
| MAWflash |
| Strange Cases |
| Atoms (Pre-IB SC 9) |
| 3x3 Blind Algs |
| Chemical Families (Pre-IB SC 9) |
| afkortingen |
| Tables de multiplicationsAPPREND TES TABLES!!! (1 à 12) |
| AIRLINE ALPHABET |
| MythsMyths |
| (IATA=International Air Transport Association) |
| manicure & pedicure testbased on pg 29 - 35 in mani/pedi manual
manicuring powerpoint
nail disorders powerpoint |
| EEN SELECTIE VAN BESTEMMINGSCODES VAN ONZE KLANTEN |
| OVERZICHT MAATSCHAPPIJEN EN HUN PREFIX |
| cambridge u1&2hoofdstuk1&2 woordjes |
| Introduction to Parasitology = MicroImm 2500 |
| Ions (Pre-IB SC 9) |
| Anatomy 101 Chapter 9 Muscles |
| Instudering vxl/el 2023-11-14 |
| math |
| dictionary - JPN |
| Tekenen beeldaspecten |
| Optics quiz 2 |
| Surgical Conditions |
| Psychology 1100 Quiz 2 |
| modul 6 mån |
| l'Europe des lumières |
| L'Europe des lumières |
| L'Europe des lumières |
| Cold war |
| Historytest |
| biologi systematik 1 |
| component 11-14 |
| geog 133-150 |
| duits |
| gezondspsychologie |
| britain cap |
| Math and ScienceEXAM |
| the man with the hoe |
| English |
| Vocabulario de la casa |
| Bio 111L |
| behaviour |
| maatschijpijkundemaatschijpijkunde |
| Written Impact drills - Primary and Assist (Land) |
| H9 lever |
| strategies - geography |
| micro test#2 |
| measuring - geography |
| characteristics - geography |
| psycology midterm |
| Endocrine System |
| Prof.prac |
| factors - geography |
| biology |
| history quiz unit 4 |
| What i love about you |
| Chapter 9- Stress |
| genetics |
| Embry |
| comptia a+ 1102 |
| Engels onbekende woorden proefwerk m1 |
| Crim 2P33 test 2 |
| Fatigue Management |
| Raag Specifics (This year + last year) |
| GS 1.2/1.4 .. |
| Media online content |
| the declaration of independence and the american revolution |
| anglais ds |
| Thaats and Raags |
| abbie |
| Biology |
| Extra vocab |
| EXTREAMLY HARD HISTORY |
| FRENCH TEST REVISIONREVISION QUIZ FOR FRENCH TEST |
| Structural Techniques |
| Budgetplan |
| school |
| History Test Prep |
| sociology family and households |
| Bio H36 |
| Week 46 |
| year 9 physics |
| Bio H35 |
| Words to practise |
| Spanska läxprov |
| ak |
| Bio genetics |
| Elanläggn omprov |
| Science - Universe |
| year 9 french |
| maths |
| Commerce - Work and Wellbeing |
| englishmeaning of words |
| german vocab 9 |
| Commerce - Promoting and Selling |
| Biology |
| frans |
| computing |
| Histoire dedinitions |
| EN4-1A responds to and composes texts for understanding, interpretation, criticok\ |
| SOPS |
| History - WWII, Fall of Singapore & KokodaKokoda, Singapore and WWII |
| math |
| MCU Film List |
| spanish |
| Science yr8 Term 4 part 3 |
| méiose |
| EXAM |
| méiose |
| biology |
| Biobio |
| Thermo Chapter 2 Energy and Environment |
| Directors' Films |
| 349 and 352 Excavator Systems |
| Portuguese |
| Obstructed airway - Unconscious victim |
| US révision Dossier 1 Thème 1EEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE |
| Raag Similarities and Differences |
| Protocols and Ports(TCP&UDP) for Servers |
| Secondary assessment |
| Insurance Exam |
| EMS exams |
| Voca |
| module 3: section 3 |
| physics paper 1 |
| PBE- 'Good,bad, right or wrong' |
| Olympics CitiesSummer Olympics Cities, since WWII |
| Ekologi 1 |
| english |
