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Product Strategies

Product Strategies. Product Defined. The sum of the physical, psychological, and sociological satisfactions the buyer derives from purchase, ownership and consumption. Product Life Cycle. Forces management to take a long-range view of marketing planning.

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Product Strategies

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  1. Product Strategies

  2. Product Defined • The sum of the physical, psychological, and sociological satisfactions the buyer derives from purchase, ownership and consumption

  3. Product Life Cycle • Forces management to take a long-range view of marketing planning. • Alter marketing mix to meet changing conditions.

  4. Stages of the Product Life Cycle

  5. Marketing Strategy Duringthe Product Life Cycle

  6. Product Positioning Strategy 1. Techniques 2. Single vs. Multiple Brand Strategy

  7. Product-Repositioning Strategy 1. Reposition among existing customers 2. Reposition among new users 3. Reposition for new uses

  8. Product-Overlap Strategy 1. Competing brands 2. Private Labeling 3. OEM strategy

  9. Product-Scope Strategy 1.Single product 2. Multiple products 3. System of products

  10. Product-Design Strategy 1. Standard products 2. Customized products 3. Standard product with modifications

  11. Product-Elimination Strategy 1. Harvesting 2. Line-Simplification 3. Total-Line Divestment

  12. New-Product Strategy 1. Product Improvement/Modification 2. Product Imitation 3. Product Innovation Development Process: Idea Generation Idea Screening Project Planning Product Development Test Marketing Commercialization

  13. Diversification Strategy 1. Concentric Diversification 2. Horizontal Diversification 3. Conglomerate Diversification

  14. Value Marketing Strategy 1. Quality Strategy 2. Customer Service Strategy

  15. Some Causes of New Product Failure • Poor up-front intelligence • Failure to stick close to what the company does best • Lack of competitive advantage • Failure to satisfy a need or want

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