MP&PCh4

MP&PCh4 - Product Innovation and Brand Management...

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Product Innovation and Brand Management Copyright 2007 Peter R. Dickson
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If your product or service is competitively inferior the first responsibility of marketing is not to paper this fact over with exaggerated product claims but to pull the cord, stop the train, and get the product development process and its products fixed so the offering is competitive. And if there are “ifs and buts” about this, find another job. The principle is simple. You cannot continue to be a trader if you are trading in products that are not competitive….at least not for long.
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Profit Customer Product Product innovation and brand management designs features to fit customer segment benefits (Ch3) in ways that increase shareholder value (Ch2). The product development process must produce the innovations that drive profit and brand reputation.
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In this lecture you will learn about how to deploy resources and capital in such a way as to serve different benefits and benefit segments. It is called Quality Function deployment and it works. Four best practice case studies on product and service development are then described and warranties and packaging are then discussed because although they are details, marketing is about taking care of such details. We then discuss what a brand is and how a brand can be managed and mismanaged.
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Percent of Projects in the Development Portfolio 1990 2004 New to the world innovation 20% 12% Imitative new product line 39% 27% Product improvements/extensions 41% 61% Why? Too much emphasis on urgent customer requests, speed short-term return, and spreading resources too thin. Robert G. Cooper, “Your NPD Portfolio May be Harmful to Your Business Health,” Visions (April 2005)
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Again we should recall from Chapter 1 that the future economic prosperity of the United States depends on being superior in innovation and product development and this is going to be tough in competing against great Asian companies such as Samsung who you will discover have become excellent at product development. Consumer demand and markets all around the world have also grown, particularly for companies who know how to design products and services and deploy quality for the new emerging demand in prospering growing economies. This brings us to the Quality Function Deployment Matrix.
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Again we should recall from Chapter 1 that the future economic prosperity of the United States depends on being superior in innovation and product development and this is going to be tough in competing against great Asian companies such as Samsung who you will discover have become excellent at product development. Consumer demand and markets all around the world have also grown, particularly for companies who know how to design products and services and deploy quality for the new emerging demand in prospering growing economies. This brings us to the Quality Function Deployment Matrix.
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The Quality-Function Deployment Matrix Easy to hold Does not smear Point lasts Does not roll Writesharp (new) Competitor X (now) Competitor Y (now) Writesharp (new)
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This note was uploaded on 04/07/2008 for the course ACG 2021 taught by Professor Yunhaochen during the Spring '08 term at FIU.

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MP&PCh4 - Product Innovation and Brand Management...

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