1 / 25

Product and Service Strategies

Product and Service Strategies. Chapter Objectives. What are products and services? What are their categories? How do firms manage all of their products and services? What are the steps in the best development process for new products? What is the product life cycle, and how is it used?.

cosima
Download Presentation

Product and Service Strategies

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Product and Service Strategies

  2. Chapter Objectives • What are products and services? What are their categories? • How do firms manage all of their products and services? What are the steps in the best development process for new products? • What is the product life cycle, and how is it used?

  3. Objective 1 What are products and services? What are their categories?

  4. Products are items consumed for personal or business use. Services are activities that deliver benefits to consumers or businesses.

  5. Products Product Tangible Intangible Good Service

  6. Distinctions of a Service Intangible Inseparable Perishable Variability

  7. Goods – Services Continuum Pure Service Pure Good Hybrid Hair Brush Hair Transplant Haircut

  8. Levels of Product Delivery Financing Brand Name Attributes Core Benefits Service Style Design Packaging Warranty Customer Support Actual Product Augmented Product

  9. Consumer Product Classifications Convenience Shopping Specialty Unsought

  10. Industrial Product Classifications Components Equipment MRO Products Processed Materials and Services Raw Materials

  11. New Product Development Idea Generation Idea Screening Concept Development Business Analysis Market Testing Commercialization

  12. Types of New Products Cosmetic (Incremental) Context (New Direction) PC, airplanes Web 1.0  2.0 iPod / iTunes Concept (Breakthrough)

  13. Objective 2 How do firms manage all of their products and services? What are the steps in the best development process for new products?

  14. A Product Portfolio is the collection of all products and services offered by a company.

  15. Sony U.S. Product Portfolio

  16. Sony U.S. Product Portfolio Product Mix Width Product Mix Depth

  17. Objective 3 What is the product life cycle, and how is it used?

  18. The Product Life Cycle is a model describing the evolution of a product’s sales and profits throughout its lifetime.

  19. Product Life Cycle

  20. Introduction Stage Low Basic Limited Trial Sales Volume Product Features Retail Outlets Marketing Goal

  21. Growth Stage Growing Increasing Increasing Preference Sales Volume Product Features Retail Outlets Marketing Goal

  22. Maturity Stage Flat New Maximum Preference Sales Volume Product Features Retail Outlets Marketing Goal

  23. Decline Stage Declining Reduced Reduced Survival Sales Volume Product Features Retail Outlets Marketing Goal

  24. Diffusion of Innovation 2.5% 13.5% 34% 34% 16% Early Adopters Early Majority Late Majority Innovators Laggards

  25. Visual Summary

More Related