Marketing bán hàng - Chapter 10: Product management and new - Product development

Chapter 10: Product Management and New-Product DevelopmentWhen you finish this chapter, you should10-2Chapter 10 Objectives 1. Understand how product life cycles affect strategy planning.2. Understand what is involved in designing new products and what “new products” really are.3. Understand the new-product development process.4. See why product liability must be considered in screening new products.5. Understand the need for product or brand managers.6. Understand the important new terms.The Product Life Cycle10-3Exhibit 10-1Total IndustryProfit+– $ 0MarketIntroductionMarketGrowthMarketMaturitySalesDeclineTimeTotal IndustrySalesIntroducing NewProductsManaging MatureProductsFuture AdaptationNew MarketsDying ProductsBudget / Rate of GrowthPersuasion / Less ProfitNew or Improve?New StrategiesPhase OutFocus:Focus:Focus:Focus:Focus:Planning for Life Cycle Stages10-4IdeaGenerationIdeas from:Customers and usersMarketing researchCompetitorsOther marketsCompany peopleMiddlemenScreeningStrengths and WeaknessesFit with objectivesMarket trendsRough ROI estimateIdeaEvaluationConcept testingCustomer reactionsRough estimates of cost, sales, profitsDevelopmentR & DDevelop model or service prototypeTest marketing mixRevise plans as neededROI estimateCommercial-izationFinalize product and marketing planStart production and marketing“Roll out” in select marketsFinal ROI estimate10-5Exhibit 10-4New-Product Development ProcessLong-RunConsumerWelfareImmediate SatisfactionDesirableProductsPleasingProductsSalutaryProductsDeficientProductsHighLowHighLowTypes of New Product Opportunities10-6KeyIssuesTop LevelSupportMarket-GuidedR & DIntegration &CoordinationAuthority10-7New-Product Development ManagementProduct Life Cycle Market Introduction Market Growth Market Maturity Sales DeclineFashionFadNew ProductFTCConsumer Product Safety ActProduct LiabilityConcept TestingProduct ManagersBrand Managers10-8Key Terms