Roadmap: from here to the final exam

1
Roadmap from here to the final exam

• We finished strategy with Chapter 9.
• Now we move on to tactics --- the 4 Ps
• Product/Price/Place/Promotion
• Tonight we start with Products

2
Wherever you work right now

• If companies market benefits, not products, what
  does your company market? (169-170)
• Tonights GOALS you could explain to someone in
  your company how to
• raise the odds of a successful new product
  (175-181)
• position it for faster diffusion then
  reposition it (181-183)
• reposition any product over its life cycle
  (183-186)

3
Lets pick a new product idea

• Does the product meet a need and offer superior
  value? For what target market?
• How do we raise the odds?
• How do we find out how successfully we will
  market that product? What factors matter inside
  the company and outside?
• GOAL You could answer these questions

4
Consumer Adoption Process an aggregate
perspective
Figure 10-4 Adopter Categorization on the Basis
of Relative Time of Adoption of Innovation
5
For a new product, how do you buy.

• Relative advantage?
• Compatibility? Less complexity?
• Divisibility?
• The ability to describe the benefits above to
  potential buyers or channel partners?
• GOAL Explain how those dollars are spent
  differently as adoption proceeds.

6
Marketing Through the Product Life Cycle
Figure 10-5 Sales and Profit Life Cycles
7
Why care about the Product Life Cycle?

• Marketing implications of when you need to spend
  money --- and on what
• Forecasting implications
• Repositioning implications
• GOAL You could explain these three issues to
  someone in your company