Combo--09-Sp09--Product6

Combo--09-Sp09--Product6 - DEVELOPING AND MANAGING PRODUCTS...

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1 BUAD 307 PRODUCT Lars Perner, Instructor 1 DEVELOPING AND MANAGING PRODUCTS Products and product lines New products: Development, successes and failures The Product Life Cycle and Diffusion of Innovations Branding BUAD 307 Learning Objective #1 The choices firms need to make on new product introductions PRODUCT DECISIONS TEST MARKETING COMPETITIVE RESPONSE IDEAS AND EVALUATIONS DIFFEREN- TIATION RISK CHOICES BRAND EXTENSIONS BRANDING DISTRIBUTION PRODUCT LINES IMAGE/ POSITIONING BUAD 307 PRODUCT Lars Perner, Instructor 3 Learning Objective #2 Steering the product through the Product Life Cycle PRODUCT DIFFUSION AWARENESS - CATEGORY - BRAND IMAGE/ POSITIONING PRICE BRAND STRUCTURE SUBSTITUTES PARTNERSHIPS FEATURES COMPETITION DIFFEREN- TIATION BUAD 307 PRODUCT Lars Perner, Instructor 4 Some Products That Are Surprisingly Difficult to Make French fries Razor blades Nail polish Large aircraft wings BUAD 307 PRODUCT Lars Perner, Instructor 5 Product Lines vs. Product Mix Product Line: A number of similar or related products— e.g., BIC writing utensils Boeing Commercial Aircraft (aircraft and parts) Nike shoes; Nike clothing Product Mix: Assortment of different products offered E.g., “KFC—we do chicken right!” (Only one product line) 3M: Tapes, adhesives, Post-its, chemicals, computer disks, overhead projectors (things that are bonded together BUAD 307 PRODUCT Lars Perner, Instructor 6 Types of New Products New to the World (discontinuous innovations) New product lines (to firm) Additions to existing product lines Improvements/revisions to existing products (continuous innovations) Repositioned products Lower priced products
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2 BUAD 307 PRODUCT Lars Perner, Instructor 7 NEW PRODUCT DEVELOPMENT SEQUENCE STRATEGY BUSINESS ANALYSIS DEVELOP- MENT TEST MARKETING IDEA SCREENING IDEA GENERATION COMMERCIA- LIZATION BUAD 307 PRODUCT Lars Perner, Instructor 8 Idea Generation Sources of new ideas Customer based Outright suggestions Observation of customer problems and tasks Market research on processes and problems Supplier suggestions Employee suggestions R&D Breakthroughs Competitive ideas Adaptation of products seen in foreign markets BUAD 307 PRODUCT Lars Perner, Instructor 9 Screening Internal screening Technical feasibility Consistency with strategic objectives External screening Marketing research Questionnaires Conjoint analysis (determines importance of attributes) BUAD 307 PRODUCT Lars Perner, Instructor 10 Business Analysis and Development Financial feasibility Legal issues Impact on sales of existing products Financial projections BUAD 307 PRODUCT Lars Perner, Instructor 11 Development Design Prototypes Refinements BUAD 307 PRODUCT Lars Perner, Instructor 12 Test Test Marketing Marketing Limited regional release May pre-test prices and positioning Simulated test markets Laboratory Computer based
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3 BUAD 307 PRODUCT
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This note was uploaded on 05/26/2009 for the course BUAD 307 taught by Professor Morristowns during the Spring '07 term at USC.

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Combo--09-Sp09--Product6 - DEVELOPING AND MANAGING PRODUCTS...

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