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Product Strategy - PowerPoint PPT Presentation


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Product Strategy. Product Strategy. What are products? Breadth of product lines Depth in each product line Product innovation/newness spectrum Product life cycle management. What is a Product?. Installation. Augmented Product. Packaging. Features. Brand Name. After- Sale Service.

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Presentation Transcript
product strategy1
Product Strategy
  • What are products?
  • Breadth of product lines
  • Depth in each product line
  • Product innovation/newness spectrum
  • Product life cycle management

Product Strategy

what is a product
What is a Product?

Installation

Augmented Product

Packaging

Features

Brand

Name

After-

Sale

Service

Delivery

& Credit

Core

Benefit

or

Service

Styling

Quality

Warranty

Actual Product

Core Product

Product Strategy

breadth of product lines
Breadth of Product Lines
  • How many product lines should a firm have?
    • Coca-Cola/Pepsi
      • Soda
      • Sports drinks
      • Juices
      • Bottled water
      • Shelf stable milk
  • Issue of generalist versus specialist!
    • Generalists are broader

Product Strategy

depth of product lines
Depth of Product Lines
  • How many different offerings should a firm have within each product line?
    • Foot Locker versus Sears/Dept. stores
  • Issue of generalists versus specialists
    • Specialists are deeper

Product Strategy

defining new products
Defining New Products
  • Newness to Company vs. Newness to Consumers
  • Newness of Market vs. Newness of Technology
    • Preference Uncertainty
    • Technological Uncertainty

Product Strategy

metrics for newness technology and market factors
Metrics for Newness: Technology and Market Factors

New to

the World

Next

Generation

MATURITY/NEWNESS OF TECHNOLOGY

Major

Enhancement

Mature

Design

ALIGNMENT WITH CURRENT MARKET/CUSTOMER BASE

Current Market/

Current Customers

New Market/

Known Customers

New Market/

Unknown Customers

Product Strategy

mapping newness metrics to development process emphasis

New to

the World

Next

Generation

MATURITY/NEWNESS OF TECHNOLOGY

Major

Enhancement

Mature

Design

ALIGNMENT WITH CURRENT CUSTOMER BASE

Current

Customers

New Markets

Known Cust.

New Market/

Unknown Customer Set

Mapping Newness Metrics to Development Process Emphasis

Research-Driven

Development

(Technology Push)

Market

Experimentation

(Intuition and Discovery)

User-Context

Development

(User-Driven)

Norms-Driven

Development

(Experience-Based)

Marketing-Led

Development

(Market Pull)

Product Strategy

product life cycle stages and marketing strategies and tactics
Product Life Cycle Stages and Marketing Strategies and Tactics
  • Special trade promotions
  • to keep trade happy
  • Focused attacks on vulner.
  • competitors
  • Long-term price reduction or short-term price promotion
  • Expand
  • production
  • Build inventory
  • Expand dealer
  • network
  • Train expanded
  • sales force
  • Invest heavily
  • in advertising
  • Institute
  • marketing
  • controls
  • Cut low margin products
  • from line
  • Withdraw from unprofitable
  • channels
  • Freeze advt. and promotions
  • Attempt to keep price level
  • Freeze R&D and product
  • modification
  • Consider divesting

Sales

  • Target best
  • prospects:
  • innovators and
  • enthusiasts
  • Use most loyal
  • distributors
  • Use free samples
  • Public demos
  • Trade shows
  • Publicity and
  • endorsements
  • Make final product
  • modifications
  • Stongly defend home-
  • market niches
  • Prune product lines
  • Focus on profits, not
  • market share
  • Reduce direct salesforce efforts, move to telemktg
  • More trade promotions
  • Introduce flankers, pvt.
  • labels
  • Reinvest in mkt. research and R&D
  • Use promo. to increase heavy-user loyalty
  • Rapid expansion of
  • distributors
  • Product line expansion
  • Niche mktg.
  • Heavy promotions
  • Sales force incentives
  • Encourage referrals

Time

Product Strategy

Launch Tradeoff Rapid growth Shakeout Maturity Decline