marketing presentation
TRANSCRIPT
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Introducing New Market Offerings
Mikhail Tenazas
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Outline Challenges in developing new products Organizational structures and processes Main stages in new product development Managing the development process Factors affecting adoption process
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Challenges in New-Product Development Types of New Products
New-to-the-world New product lines Minor additions or improvements Repositioning
Innovation
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Challenges in New-Product Development 1. New-Product Success
Incremental innovation Kotler: Southwest Airlines Local: PLDT, Cebu Pacific, Pizza Hut Bistro Medical: Satellite clinics, Belo Medical Group
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Challenges in New-Product Development 2. New-Product Failure
Shortage of ideas Fragmented markets Social and governmental constraints Cost of development Capital shortages Shorter required development time
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“It is not just OK to fail; it is imperative to fail” Kotler: Dogster.com Local: IntelKinetic, ElectroLux Medical: Evista, Strattera
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3. Organizational Arrangements Budgeting Organizing Internal changes: customer-driven
engineering Kotler: Xerox, Whirlpool Corporation Local: McDonald’s Medical: Medical City
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Managing the Development Process
Idea Generation:Is the idea
worth considering?
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Managing the Development Process 4. Idea Generation
Lateral marketing E.g. Gas station stores = gas stations + food
Cyber cafes = cafeteria + internet
Open innovation Tapping external sources Kotler: Mr. Clean Local: Medical:
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Managing the Development ProcessIdea
Generation:Is the idea
worth considering?
Idea Screening:
Is the product idea
compatible with company
objectives, strategies,
and resources?
Concept Development and Testing:
Can we find a good concept
consumers say they
would try?
DROP
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Managing the Development Process: 5. Concept Development and Testing
Product idea Product concept
Who will use it? Benefits? When will they use it?
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Concept Development and Testing Kotler:
Product idea: powder to add to milk
Product concept: Instant breakfast drink for adults
Bacon and eggs
Cold cereal
PancakesHot cereal
Instant breakfast
Quick
Inexpensive
Slow
Expensive
Product-Positioning Map
(Breakfast Market)Perceptual mapping
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Concept Development and Testing Local: Clear vs Head and Shoulders
Product-positioning: No dandruff, no hairfall
Soft and silky hair
Medical: Pain relievers
Brand-Positioning Map for Pain Relievers
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Managing the Development ProcessIdea
Generation:Is the idea
worth considering?
Idea Screening:
Is the product idea
compatible with company
objectives, strategies,
and resources?
Concept Development and Testing:
Can we find a good concept
consumers say they
would try?
DROP
Marketing Strategy
Development:Can we find a cost-effective,
addordable marketing strategy?
Yes Yes Yes Yes
No No No No
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Managing the Development ProcessIdea
Generation:Is the idea
worth considering?
Idea Screening:
Is the product idea
compatible with company
objectives, strategies,
and resources?
Concept Development and Testing:
Can we find a good concept
consumers say they
would try?
DROP
Marketing Strategy
Development:Can we find a cost-effective,
addordable marketing strategy?
Yes Yes Yes Yes
No No No No
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Managing the Development ProcessBusiness analysis:Will this
product meet our profit
goal?
Product development
:Have we got a
technically and
commercially sound
product?
DROP
Yes
No
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Managing the Development Process 6. Product Development
Quality function deployment
Development of physical prototypes
Kotler: Boeing 777Local: McRice BurgerMedical: Cloning, stem cell therapy
Desired customer attributes
Engineering attributes
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Managing the Development ProcessBusiness analysis:Will this
product meet our profit
goal?
Product development
:Have we got a
technically and
commercially sound
product?
Market Testing
Have product sales met
expectations?
DROP
Yes Yes
No No
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Managing the Development Process 7. Market Testing
Consumer-Goods Market Testing How many test
cities? Which cities? Length of test? What information to
collect? What action to
take?
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Market Testing Kotler: General Mills’ Toast-Ems toaster pastries,
Colgate-Palmolive Local: Globe, Smart, Sun Medical: Pharmaceutical companies
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Managing the Development ProcessBusiness analysis:Will this
product meet our profit
goal?
Product development
:Have we got a
technically and
commercially sound
product?
Market Testing
Have product sales met
expectations?
DROP
Commercialization:
Are product sales meeting
expectations?
Send the idea back for product
development
Modify the product or marketing program
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Managing the Development Process 8. Commercialization
When (Timing) Where (Geographic Strategy) To Whom (Target-Market Prospects) How (Introductory-Market Strategy)
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Kotler: Apple iPod
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Kotler: Apple iPod Local: Clear Shampoo Medical: Medical City, Belo
Medical Group, Calayan
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9. Factors Influencing the Adoption Process Readiness and Personal Influence
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Factors Influencing the Adoption Process Readiness and Personal Influence
Kotler: Nike skateboard Local: Mini Cooper Medical: Lasik, stem cell therapy
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10. Characteristics of the Innovation Relative advantage Compatibility Complexibility Divisibility Communicability
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Kotler: TiVo, or PVRs Local: iPhone, preventive supplements Medical: Laparoscopic surgery, Lasik,
glutathione