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Understand the stages of a product's acceptance, from introduction to demise, with a focus on life cycle management, new product development, innovation, and brand image. Explore strategies for product mix and assortment to create customer value.
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Creating Customer Values From Products to Brands and Beyond
Structure • Creating Values • Product Life Cycle • New Product Development • Branding • Product Management
商業 消費者 交易 The Marketing Cycle Services Brands Physical Products
Product Life Cycle • A way to trace the stages of a • product's acceptance from its • introduction to its demise. • Refers to the life of the product • category • The time a product category spends • in a stage of the product life cycle • may vary from a few weeks to • decades. • A tool to help marketers understand • - where their product is now • what may happen • - which strategies are normally • appropriate
Life Cycle Management
New Product Development 新產品發展
Product Mix Number of Product Lines FEWMANY Assortment of Narrow varietyWide variety Product itemsShallow assort. Shallow assort. in each line Narrow variety Wide variety Deep assort. Deep assort.
Narrow Variety/Shallow assortment Most limited selection Unconventional outlets e.g. vending machines / door-to-door Needs wide availability (extensive)
Specialise in few lines - wide selection within line Clear Brand Image Narrow Variety /Deep assortment
Wide Variety /Shallow assortment “a little of everything” Convenience products
Wide Variety / Deep assortment Large number of product lines with deep assortment in each E.G. Large Department Stores