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2 Marketing (Fach) / ACTIONS- Product (Lektion)
Diese Lektion wurde von Janaw55 erstellt.
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- -10 Produce Development - Types of New Products New to company: Cost Reductions - Product Improvements - New Lines / Line Extensions New to customers: Price Reductions – Repositioning (new segment) / Line Extensions New to the World: New to customers in the way they use a product Role of new products for corporate long-term objectives depends on type of product No role (commodities, toilet paper) Update role Modest growth role High growth role (Uber, Amazon) Survival role (Healthcare, Gaming, Apple, Blackberry)
- - 10 Growth Strategies Growth in existing Product Markets (steal market share from competitor) (1) Increase Usage (PPB) Increase Purchase Frequency Increase Purchase Quantity Revitalize the brand Find new application for current users (2) Increase Penetration (encourage brand switching) Market Development Geographic Expansion New Segment Product Development Develop existing products: Develop a new product-generation Expand product line breadth: Line extensions Expand product line depth: Expand product scope New product line for the same market Diversification: Related- / Unrelated product-markets Vertical Integration: Forward-/ Backward Integration
- -10.1 Produce Development - Process The Funnel through which ideas pass on their way to becoming new products in the market Business Strategy (+Technology Plan) Growth Strategy / New Product Strategy (+Opportunity Identification) Concept (+Screening) Concept (+Business Cases) Definition Development (+Strategic Review) Test / Deploy Launch -> Cost of Failure increases with each stage of NPD
- -10.2 Produce Development - Screening Real? Market?: Potential Market size - Need for product - Can customer Buy - Will customer Buy? Product?: Clear Concep - Can product be made? - Will product satsify market? Win? Product: Sustainable competitive advantage - Competitive response Company: Superios resources - appropriate management - market understanding Worth-It? Profitable at acceptable risk: Forecased returns > costs, acceptable risk Strategic sense: Product Fit, Management Support
- -10.3 Importance of the Product Life Cycle The life of a product, as reflected by its sales, is said to have four stages: introduction, growth, maturity, decline. Implications for marketing activity: different drivers at different times – information, distribution, pricing, advertising efficiency will change depending on the PLC-stage
- -10.4 Importance of the Adoption Process It is important to understand the adoption process and the factors affecting its speed as we develop marketing programs in support of new products and services The mental steps through which an individual passes from first hearing about an innovation to adopting The individual is.. Awareness – aware of innovation but lacks information Interest - stimulated to seek information Evaluation - considers whether to estimate value Trial - tries innovation to estimate value Adoption - decides to make full & regular use of innovation
- -10.5 Rogers / Moore Diffusion Process ROGER: Some individuals are inevitably more open to innovations than others.These individuals need less benefit to adoptions and pass it on The Diffusion process has a contagion effect. Segmentation as per innovativeness The number of Non-Adopters (Followers) is a function of how many innovators adopted. Innovators: Adopt the innovation at a rate independent of the number of adopters Need to understand the "Chasm" and the Cracks in the Bell curve There is a risk that we might not reach Early Majority if benefit for less risk was not well communicated Innovators: 2.5% Early Adopters: 13.5% Early Majority: 34% Late Majority: 34% Laggards: 16% MOORE’S REVISED TECHNOLOGY ADOPTION LIFE CYCLE
- -10.5 Modeling the Diffusion Process The number of Non-Adopters (Followers) is a function of how many innovators adopted. Innovators: Adopt the innovation at a rate independent of the number of adopters Followers: Adopt the innovation at a rate dependet on the number of adopters At any point in time, the members of each segment are either non-adopters or adopters ∂ Non-Adopters (Innovators) -> ϒ -> Marketing activity can drive need -> Adopters Adopters * (δ*penetration) = 1-∂ Non-Adopters (Followers) Non-Adopters (Followers) is a function of how many ppl adopted.
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