MARKETING MANAGEMENT 12 th edition 7 Analyzing Business Markets KotlerKeller.
MARKETING MANAGEMENT 12 th edition
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Transcript of MARKETING MANAGEMENT 12 th edition
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MARKETING MANAGEMENT12th edition
Kotler Keller
20 Introducing New Market Offerings
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Chapter Questions
What challenges does a company face in developing new products?
What organizational structures are used to manage new-product development?
What are the main stages in developing new products?
What is the best way to set up the new-product development process?
What factors affect the rate of diffusion and consumer adoption of newly launched products?
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Categories of New Products
New-to-the-world New product lines Additions to product lines Improvements to products Repositionings Cost reductions
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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
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Venture Team
Cross-functional group charged withdeveloping a specific product or business; Intrapreneurs are relieved of other dutiesand provided a budget and time frame.
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Criteria for Staffing Venture Teams
Desired team leadership style Desired level of leader expertise Team member skills and expertise Level of interest in concept Potential for personal reward Diversity of team members
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Idea Generation: Creativity Techniques
Attribute listing Forced relationships Morphological analysis Reverse assumption analysis New contexts Mind mapping
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Variations on Failure
Absolute product failure Partial product failure Relative product failure
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Concepts in Concept Development
Product idea Product concept Category concept Brand concept Concept testing
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Concept Testing
Communicability and believability Need level Gap level Perceived value Purchase intention User targets, purchase occasions,
purchasing frequency
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Marketing Strategy
Target market’s size, structure, and behavior
Planned price, distribution, and promotion for Year 1
Long-run sales and profit goals and marketing-mix strategy over time
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Product Development
Quality function deployment (QFD)Customer attributesEngineering attributes
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Prototype Testing
Alpha testing Best testing
Rank-order methodPaired-comparison methodMonadic-rating method
Market testing
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Consumer Goods Market Testing
Sales-Wave Research Simulated Test Marketing Controlled Test Marketing Test Markets
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Test Market Decisions
How many test cities? Which cities? Length of test? What information? What action to take?
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Timing of Market Entry
First entry Parallel entry Late entry
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Criteria for Choosing Rollout Markets
Market potential Company’s local reputation Cost of filling pipeline Cost of communication media
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Consumer-Adoption Process
Adoption is an individual’s decision
to become a regular user
of a product.
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Stages in the Adoption Process
Awareness
Interest
Evaluation
Trial
Adoption
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Adopter Categorization
Innovators Early adopters Early majority Late majority Laggards
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Characteristics of an Innovation
Relative advantage Compatibility Complexity Divisibility Communicability