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UNO MKT4300_Chapter 10
Transcript of UNO MKT4300_Chapter 10
and Marketing through the Life Cycle Dr. Mike Breazeale MKT 4300
Marketing Management A product is anything that can be offered to a market to satisfy a want or need, including physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas. What is a Product? Five Product Levels Use Tangibility Durability Product Classification Schemes Services Durable goods Nondurable goods Unsought Specialty Shopping Convenience Consumer Goods Materials and parts Industrial Goods Capital items Supplies/business services Methods of Differentiation Form Features Customization Performance Conformance Durability Reliability Repairability Style For Goods For Services Ordering Ease Delivery Installation Customer Training Customer Consulting Maintenance and Repair Design Strategies for Increasing Profits from a Product Line Line Stretching Line Filling Modernization Pruning Co-Branding Ingredient Branding Aesthetic Differentiation Packaging Labeling Warranties and Guarantees New-Product Development Decision Process Where do you go for GREAT NEW IDEAS?! Informal sessions with customers Give tech folks freedom to play with pet projects Make customer brainstorming part of facility tours Survey your customers "Fly on the Wall" Research Iterative rounds with customers Use keyword searches in trade pubs Treat trade shows as intelligence missions Have employees visit supplier labs Create an idea vault Create a customer advisory board Use social media as an ongoing focus group What else?! Adoption is an individual’s decision to become a regular user of a product. What is Adoption? Adoption Trial Evaluation Interest Awareness Stages in the Adoption Process Adopter Categorization on the Basis of Relative time of Adoption