Lecture Basic Marketing: A global managerial approach - Chapter 10: Product management and new-product development

When you finish this chapter, you should: Understand how product life cycles affect strategic planning, know what is involved in designing new products and what "new products" really are, understand the new-product development process, see why product liability must be considered in screening new products.
Nội dung trích xuất từ tài liệu:
Lecture Basic Marketing: A global managerial approach - Chapter 10: Product management and new-product developmentChapter10:ProductManagement andNew-ProductDevelopment For use only with Shapiro, Wong, Perreault, and McCarthy text Copyright © 2002 McGraw-Hill Ryerson Limited The Product Life Cycle Market Market Market Sales Introduction Growth Maturity Decline Total Industry Sales + Total Industry Profit $0 Tim – eExhibit101102 For use only with Shapiro, Wong, Perreault, and McCarthy text Copyright © 2002 McGraw-Hill Ryerson Limited Planning for Life Cycle Stages Introducing New Focus: Products Budget / Rate of Growth Managing Mature Focus: Products Persuasion / Less Profit Focus: Future Adaptation New or Improve? Focus: New Markets New Strategies Focus: Dying Products Phase Out103 For use only with Shapiro, Wong, Perreault, and McCarthy text Copyright © 2002 McGraw-Hill Ryerson Limited New-Product Development Process Idea Screening Idea Development Commercial Generation Evaluation -izationdeas from: Strengths Concept R&D FinalizeCustomers and testing Develop product and and users weaknesses Customer model or marketingMarketing Fit with reactions service plan research objectives Rough prototype StartCompetitors Market estimates Test productionOther trends of cost, marketing and markets Rough ROI sales, mix marketingCompany estimate profits Revise plans “Roll out” in people as needed selectntermediaries ROI estimate markets Final ROI estimate Exhibit105 104 For use only with Shapiro, Wong, Perreault, and McCarthy text Copyright © 2002 McGraw-Hill Ryerson Limited Types of New Product Opportunities Immediate Satisfaction High Low High Desirable Salutary Products Products Long-Run Consumer Welfare Pleasing Deficient Low Products ProductsExhibit106105 For use only with Shapiro, Wong, Perreault, and McCarthy text Copyright © 2002 McGraw-Hill Ryerson LimitedNew-Product Development Management Top Level Support Authority Key Issues Market-Guided R&D Integration & Coordination106 For use only with Shapiro, Wong, Perreault, and McCarthy text Copyright © 2002 McGraw-Hill Ryerson Limited