Girish ramani mktg 347 34 initiatingfactorsasummary

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Unformatted text preview: Initiating factors (contd.) • Alliances Combining skills by forming alliances has resulted in new Combining product introductions product – Star Alliance (Click on the web link: YouTube - Lufthansa Star Alliance Airbus A340-600 (Click YouTube Star ) – Intel inside products Drexel University Dr. Girish Ramani MKTG 347 34 Initiating factors – a summary • Financial markets exert pressure on growth, profitability Financial and share prices and • Increasing domestic and international competition • Organizations seek for focused profit opportunities • Shorter product life cycles • Technological change • Social and political changes Drexel University Dr. Girish Ramani MKTG 347 35 Initiating factors – a summary • Customer demands • Distribution channel strength • New materials • Environmental regulation and consciousness • Alliances as a strategic tool Drexel University Dr. Girish Ramani MKTG 347 36 Role of a new product manager • Select the appropriate strategy that matches the need of the Select organization, set up a disciplined approach for new product development and product management development • Define target market opportunities and create high potential Define product ideas product • Understand customer needs, structure them, and prioritize the Understand needs to define benefits and values that the product will deliver needs • Integrate marketing, engineering, R&D, and production to design a Integrate high quality product that satisfies customer needs and delivers values values Drexel University Dr. Girish Ramani MKTG 347 37 Role of a new product manager (contd.) • Evaluate purchase potential of a new product and select a Evaluate marketing mix marketing • Forecast sales before market launch based on testing of the Forecast product and the marketing plan product • Organize and innovate the new –product development and Organize product management process product • Understand and apply analytical support tools at each stage of the Understand process process Drexel University Dr. Girish Ramani MKTG 347 38 Goal of this course Expose students to concepts and techniques available to a Expose New Product Manager that result in New “ Greater profitability and less risk” Greater Drexel University Dr. Girish Ramani MKTG 347 39...
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This note was uploaded on 07/04/2012 for the course MKTG 347 taught by Professor Dr.girishramani during the Spring '12 term at Drexel.

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