Lecture Ch 11_BB

Lecture Ch 11_BB - Jade S. DeKinder Jade S. DeKinder What...

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Unformatted text preview: Jade S. DeKinder Jade S. DeKinder What You Should Know n The four types of consumer goods and the two types of business goods n Marketing reasons for new product failures n The stages in the new product process Click to edit Master subtitle style Chapter 11: Managing Products and Services Professor Jade DeKinder Jade S. DeKinder Jade S. DeKinder What You Will Know n The stages in the product life cycle n The four dimensions of the product life cycle n The three ways to manage a product through its life cycle n The four steps in creating brand equity Jade S. DeKinder Jade S. DeKinder Product Lifecycle n Different stages the product goes through in the marketplace q Introduction q Growth q Maturity q Decline Jade S. DeKinder Jade S. DeKinder Introduction Stage n Occurs when product is first introduced q Sales grow slowly, minimal profit q Create Consumer awareness n TRIAL q Primary and Selective Demand q Skimming vs penetration pricing Jade S. DeKinder Jade S. DeKinder Growth Stage n Rapid increases in sales n Competitors appear q More aggressive pricing P profit usually peaks q Product sales grow as a result of new people using the product and repeat users q Increase distribution If the brand can’t generate repeat purchase “ brand death Jade S. DeKinder Jade S. DeKinder During the Growth Stage n A company differentiates its brand during this time in order to separate from competition Offer different benefits Jade S. DeKinder Jade S. DeKinder Maturity Stage n Slowing of total industry sales n Marginal competitors exit the market q Most consumers have tried (and abandoned the product) n Profit declines n Strategy is to control marketing costs Jade S. DeKinder Jade S....
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This note was uploaded on 11/09/2010 for the course MKT 337 taught by Professor Mcallister during the Spring '07 term at University of Texas.

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Lecture Ch 11_BB - Jade S. DeKinder Jade S. DeKinder What...

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