MT 219 Marketing Unit 5 Seminar

MT 219 Marketing Unit 5 Seminar - MT 219 Marketing Unit...

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MT 219 Marketing Unit Five New Products and Pricing Note: This seminar will be recorded by the instructor.
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Review of Unit 4 How did Unit 4 go? Questions or concerns? Instructor suggestions for Unit -Research for your Unit 6 research Project Questions?
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New Product Development Process Idea Generation – ideas come from many sources Idea Screening – need to avoid “go” or “no go” error Concept Development and Testing – iterative process of consumer feedback Marketing Strategy Development- initial marketing strategy for the new product Business Analysis – what is the potential for sales, costs, and profits? Product Development – lengthy and expensive Test Marketing – realistic settings Commercialization – when, where, and how
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Product Life Cycle Characteristics Product development – sales are zero and expense outlays are significant Introduction- sales begin at zero, profits negative Growth – sales rise rapidly, profits peak Maturity – sales peak and start to decline as profits fall Decline – sales fall rapidly See figure 8.2 in text
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Marketing Objectives at each stage Introduction – create awareness and trial Growth – establish unique selling proposition;
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This note was uploaded on 10/10/2011 for the course MRKT 219 taught by Professor N/a during the Fall '11 term at Kaplan University.

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MT 219 Marketing Unit 5 Seminar - MT 219 Marketing Unit...

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