Intro to Marketing_Herzenstein_Date_032410

Intro to Marketing_Herzenstein_Date_032410 - Some can be...

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Product management slides continued Product line Length is the most important feature - Line Stretching o Down market: Porsche (Cayenne) o Up Market: Nissan (infinity) o 2 way: Hilton (Waldorf Astoria, Double Tree) Line featuring- feature (most prestigious) one product in line Line Pruning- make sure don’t have unsuccessful product Brand extension - Trying to capitalize on brand equity Notes go with New Product Management Slides What is a new product? - Very costly and time consuming What does ‘new’ mean? “Improvement” - New benefits, new values to consumer Marketing reasons for failure
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Unformatted text preview: Some can be pulled sooner than 3 months (example: movies)-Insignificant point of difference-Incomplete market and product definition-Too little market attractiveness-Poor execution of marketing mix (example: Surge soda drink)-Poor-Bad Timing New product development Idea screeningWWW Average Cost of New Product Cut so many because of cost/expensive PLC-Most products today are in maturity because accepted but no new interest-Sales always higher than profits o Style, Fashion. Fadgraphs Profiles of product adaptors-KNOW chart!...
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