Chapter 9 - Chapter 9 Using Product Objectives to Decide on...

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Chapter 9 Using Product Objectives to Decide on Product Strategy Develop Product Objectives Must indicate a time frame Must be clear and measurable o For individual products Introduce new products Regional product: Introduce nationally Mature product: Increase consumer enthusiasm for the product o For product lines and mixes Product line- a firm’s total product offering designed to satisfy a single need or desire of target customers Product line Extensions o Stretching – adding new items to line o Limited- less variations and as a specialist o Downward – adding items at lower ends. o Upward – for middle and lower ends, adds new items that are higher priced and claiming more quality, bells and whistles, etc. o Two-way – adds upper and lower products o Filling-out strategy – adding sizes or styles not previously available in product category. Filling- adding sizes or styles Contracting a product line- Dropping items Product Mix- Increase width of product mix – the total set of all products a firm offers for sale. Design Product Strategies Make Tactical Product Decisions o Product Branding o Packaging and labeling design Total Quality Management (TQM) – a management philosophy that focuses on satisfying customers through empowering employees to be an active part of continuous quality improvement. ISO 9000- criteria developed by the international org for standardization to regulate product quality in Europe ISO 14000- ISO concerned with “environmental management aimed at minimizing harmful effects on the environment Six Sigma- a process whereby firms work to limit product defects to 3.4 per million or fewer. o DMAIC- define measure analyze, improve and control Quality to the Marketing Mix
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Product- improving customer service Place- on time delivery Price – lowering costs and improving services to customers at the same time Promotion – give info when the cust wants it not the marketer Dimensions of Product Quality and their ability to provide the benefits cust. want Levels of Quality Consistency of Quality o Degree of Pleasure o Durable o Reliable o Precision o Versatile o Satisfy needs o
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This note was uploaded on 04/24/2008 for the course BSNS 2810 taught by Professor Wiese during the Spring '08 term at Anderson University SC.

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Chapter 9 - Chapter 9 Using Product Objectives to Decide on...

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