4-1-08 Product life Cycle

Product life - Marketing Ch.9 I New Product a change does not make a new product Newly created hasn't been created before a Two definitions of i

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4/1/08 Marketing - Ch.9 I. New Product – a change does not make a new product. Newly created, hasn’t been created before. a. Two definitions of i. Original Thought – a product or service that here to forth has never existed. We revere/ holding esteem the people who come up with these new thoughts. For most people there is no such thing as original thought. ii. Take an existing product but take it to an entirely new market that generates new profit. 1. Example of the pizza in Russia. New product to them. Had never seen pizza before. II. Product Life Cycle a. Market Introduction b. Market Growth c. Market maturity d. Sales decline e. The symmetry of the curve is determined by one thing only – SALES f. this graph is an AVERAGE, a ridiculously averaged average. g. Demand is based on consumption h. Objective is to be forecasting while you are in the introductory stage i. Most important times are in the very beginning and right after market maturity 1. Allows us to know what type of inventory we need to keep III. PPLC - Pre-product Life-cycle a. Idea Generation i. Can come from customers ii. From competitors iii. “other markets” iv. Employees v. Government vii. Innovation/ inventors viii.Educational “Research” x. Bi-Product – what occurs after the product is made. (sawdust is a bi-product of logging) b. Over time the number of product ideas will decrease because we are filtering them
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i. There will be something in the process of filtering that will c. Point where d. Only twenty percent of companies use this method i. because it is so expensive ii. 80% of the money is made by this twenty % because it works. e. Everyone is involved in this process f. SCREENING i. Be logical, ask, “is there any market at all?” ii. What are our core competencies? iii. Do we have money to do this?
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This note was uploaded on 09/08/2010 for the course BUS 130 at San Jose State University .

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Product life - Marketing Ch.9 I New Product a change does not make a new product Newly created hasn't been created before a Two definitions of i

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