PRODUCT MARKETING. ANYTHING THAT CAN BE OFFERED TO THE MARKET THAT MIGHT SATISFY A WANT OR A NEED. PRODUCT LEVELS. AUGMENTED. ACTUAL . CORE . Adapted from Kotler, 1994. sales. Product Life Cycle. Products have limited lives, so ______________
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ANYTHING THAT CAN BE OFFERED TO THE MARKET THAT MIGHT SATISFY A WANT OR A NEED
Adapted from Kotler, 1994
innovators early early late laggards
adoptors majority majority
What is missing? (non-adoptors)
What are some of the problems with this? (not a time but attitude issue)
Your R&D department has developed a completely revolutionary way to take notes in the classroom. The product is named “Wilbor”—a short name for “WILLingly takes BORing notes.” To use the product, an individual wears a headphone. Everything that s/he thinks that is addressed to the computer is recorded onto a 51/2 inch diskette. For instance, the EMBA students might think, “Oh dear, I better remember what the early majority is,” so the student thinks, “Wilbor record that the early majority is about 34% of adopters. Consumers in the early majority make deliberate decisions and have many social contacts. End Wilbor.” The electronic record is compatible with Microsoft Word. The student simply puts the diskette into a disk drive and prints out detailed, legible notes. To your knowledge, no other firm can offer this product.
Your R&D department has developed a better way to make banana bread from a mix. The new mix includes all dry ingredients and a special package of banana puree (that does NOT turned that brown disgusting color) mixed with vanilla extract. This package is to be added to the mix prior to baking and results in a more “bananay” taste and a moister bread. Secondary sources suggest that sales of banana bread mixes have been experiencing slow growth during the past few years. Competitors include Betty Crocker, Pillsbury, Martha White and Jim-Dandy.
INTANGIBLE PRODUCTS INVOLVING A DEED, A PERFORMANCE, OR AN EFFORT WHICH CANNOT BE PHYSICALLY POSSESSED
What is the price-quality connection
a. Close to the customer.
b. Close to the suppliers.
c. It depends – Using location to deal with fluctuations in demand??
We’ll talk about this in the next class.