Beruflich Dokumente
Kultur Dokumente
Dr. Karim
Ke ywords
of
intellectual
property
Introduction
In this chapter, we examine two product topics:
developing new products and managing products
through their life cycles. New products are the
lifeblood of an organization. However, new-product
development is risky, and many new products fail. So,
the first part of this chapter lays out a process for
finding and growing successful new products. Once
introduced, marketers want their products to enjoy
long and happy lives. In the second part of this
chapter, we will see that every product passes
through several life-cycle stages, and each stage
poses new challenges requiring different marketing
strategies and tactics. Finally, we wrap up our product
discussion by looking at two additional considerations:
social responsibility in product decisions and
international product and services marketing.
New-Product Development
Strategy
How Companies Find & Develop New Products Ideas?
2)
New
product
development
refers
to
original
New-Product Development
Reasons for new product failure
After
being
exposed
to
the
concept,
C o n ce p t D e v e l o p m e n t a n d Te s t i n g
initial
marketing
strategy
for
the
sales,
costs,
and
profit
development
physical
Requires an increase
in investment.
When firms
test market
New product
with large
investment
Uncertainty
about
product or
marketing
program
When firms
may not test
market
Simple line
extension
Copy of
competitor
product
Low costs
Management
confidence
Stage 8: Commercialization
Commercialization is the introduction of the new
product
When to launch
Where to launch
Planned market rollout
control
in
risky
or
complex
product-development
process
to
Systematic
new-product
development
Is an innovative
approach
reviews,
development
that
collects,
evaluates,
and
Creates
an
innovation-oriented
culture
REMARK
Not all products follow all five stages of the
PLC. Some products are introduced and
die quickly; others stay in the mature
stage for a long, long time. Some enter
the decline stage and are then cycled
back
strong
into
the
growth
promotion
or
stage
through
repositioning.
It
4. Maturity
Advertising persuasion,
reminder
Sales promotion market
share
3. Growth
5. Decline
Market modifying
Product
modifying
Marketing mix
modifying
International Product
Customization