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Kotler • Keller

Phillip. Kevin Lane. Kotler • Keller. Marketing Management • 14e. Chapter 20. Introducing New Market Offerings. Discussion Questions. What challenges does a company face in developing new products and services?

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Kotler • Keller

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  1. Phillip Kevin Lane Kotler • Keller Marketing Management • 14e

  2. Chapter 20 Introducing New Market Offerings

  3. Discussion Questions • What challenges does a company face in developing new products and services? • What organizational structures and processes do managers use to oversee new-product development? • What are the main stages in developing new products and services? • What is the best way to manage the new-product development process? • What factors affect the rate of diffusion and consumer adoption of newly launched products and services?

  4. New Product Options Make or Buy New Improved Formula Types of New Products

  5. New-Product Development Challenges The Innovation Imperative New Product Success New Product Failure

  6. Organizational Arrangements Organizing New Product Development Customer-driven Engineering Budgeting for NPD

  7. Table 20.1 Finding One Successful New Product

  8. Organizing New Product Development Cross-functional Teams “Skunkworks” Stage-gate Systems

  9. Figure 20.1 New-Product Decision Process

  10. Generating Ideas Employees Crowd Sourcing Lead Users Competitors

  11. Creativity Techniques Mind Mapping Forced Relationships Morphological Analysis Lateral Marketing Attribute Listing

  12. Ideas – Screening Probability of commercialization given technical completion Probability of economic success given commercialization Overall probability of success Probability of technical completion

  13. Figure 20.2 Forces Fighting New Ideas

  14. Concept to Strategy Concept Development Business Analysis Marketing Strategy Development

  15. Concept Development Concept 2 Concept 3 Concept 1

  16. Figure 20.3 Continuum of Evaluation for Products

  17. Concept Testing • Product Dimensions • Communicability and Believability • Need level • Gap level • Perceived value • Purchase intention • User targets, purchase occasions, frequency

  18. Figure 20.4 Conjoint Analysis • Design Elements • Three package designs (A, B, C) • Three brand names (K2R, Glory, Bissell) • Three Prices ($1.19, $1.39, $1.59) • A possible Good Housekeeping seal (yes, no) • A possible money-back guarantee (yes, no)

  19. Figure 20.5 Continuum of Evaluation for Products

  20. Marketing Strategy Development • Target Market’s • Size • Structure • Behavior Marketing-mix strategy Marketing Mix

  21. Business Analysis Estimating Costs and Profits Estimating Total Sales

  22. Figure 20.6 PLC Sales for Three Types of Products

  23. Development to Commercialization Product Development Market Testing Commercialization

  24. Product Development Physical Prototype Alpha Testing (Internal) Beta Testing (Customers) Customer Tests

  25. Market Testing Sales-Wave Research Controlled Test Marketing Test Markets Simulated Test Marketing

  26. Commercialization When? Where? How? To Whom?

  27. The Consumer-Adoption Process Stages in the Adoption Process

  28. The Consumer-Adoption Process • Influencing Factors • Buyer Readiness • Personal Influence • Innovation Characteristics • Organizations Readiness

  29. Buyer Readiness Early Majority Laggards Innovators Early Adopters Late Majority

  30. Figure 20.7 Continuum of Evaluation for Products

  31. Innovation Characteristics Divisibility Compatibility Relative Advantage Communicability Complexity

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