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Note 9 The Product Life Cycle

Note 9 The Product Life Cycle. Figure Note 9-1 - The Product Life Cycle. Changes in Markets Across the Product Life Cycle. The single phases of a product life cycle differ in a number of important characteristics Competition and product assortment Customer behavior and segment configuration

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Note 9 The Product Life Cycle

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  1. Note 9The Product Life Cycle

  2. Figure Note 9-1 - The Product Life Cycle

  3. Changes in Markets Across the Product Life Cycle • The single phases of a product life cycle differ in a number of important characteristics • Competition and product assortment • Customer behavior and segment configuration • Distribution

  4. Figure Note 9-2 - Kano’s Model of Customer Satisfaction

  5. Figure Note 9-3 - Criterion in Consumer Preferences and Choice

  6. Table Note 9-1 - Market Characteristics Across the Product Life Cycle

  7. Table Note 9-2 - Marketing Strategies Across the Product Life Cycle

  8. Table Note 9-3 - Marketing Tactics Across the Product Life Cycle

  9. Products—Innovations • In marketing strategy, innovations refer to discontinuous innovations—products that are truly “new to the world” and that change the way a customer need is met

  10. Customer Value and Product Innovation • Value is defined as what the customers get adjusted for what the customers give • Relative performance adjusted for relative price

  11. Figure Note 31-3 - The Adoption Process

  12. Attributes of the Product/Innovation • Relative advantage • Trialability • Complexity/Ease of use • Observability • Compatibility • Risk • Network effects

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