Transcript Chapter8-9x_Section3

APPLE: THE WORLD-CLASS
NEW-PRODUCT MACHINE

Apple’s Innovation Machine
WHAT ARE PRODUCTS AND SERVICES?
GOODS, SERVICES, AND IDEAS

Product


Services
Ideas
10-3
WORLD IS CHANGING
VIRTUAL REALITY
How a consumer product is classified affects which
products consumers buy and the marketing
strategies used
10-5
How a consumer product is classified affects which
products consumers buy and the marketing
strategies used
10-6
WHAT ARE PRODUCTS AND SERVICES?
CLASSIFYING PRODUCTS

Business Products
•Raw Materials
•Manufactured Materials
•Component Parts
•Capital Equipment
•Accessories
•MRO supplies
PRODUCT PORTFOLIOS
The degree of “newness” in a new product affects the
amount of learning effort consumers exert to use the product
10-9
FIGURE 10-3 Seven stages in the new-product process leading to success
10-10
NEW PRODUCTS AND WHY
THEY SUCCEED OR FAIL

Marketing Reasons for New-Product Failures
•
Insignificant Points of Difference
•
Not satisfying Customer Needs on Critical Factors
•
Bad Timing
•
Too Little Market Attractiveness
•
Poor Product Quality
•
Poor Execution of the Marketing Mix
•
No Economical Access to Buyers
•
Incomplete Market and Product Protocol
10-11
NEW PRODUCTS AND WHY
THEY SUCCEED OR FAIL

What Were They Thinking? Organizational
Problems in New-Product Failure
• Not Listening to the “Voice” of the Consumer
• Skipping Steps in the New-Product Process
• Marketing a Poorly Conceived Product Too Quickly
• “Groupthink” in Task Force & Committee Meetings
• Not Learning Lessons From Past Failures
10-12
FIGURE 11-1 How stages of the product life cycle relate to a firm’s
marketing objectives and marketing mix actions
11-15
FIGURE 11-3 Alternative product life cycle curves based on product types
11-16
ROLE OF A PRODUCT MANAGER

Product Modification
•

Product
Bundling
•
New
Characteristics
Market Modification
•
Finding New
Customers
•
Increasing a
Product’s Use
11-17
ROLE OF A PRODUCT MANAGER

Product Modification
•

Product
Bundling
•
New
Characteristics
Market Modification
•
Finding New
Customers
•
Increasing a
Product’s Use
11-18
BRANDING AND BRAND MANAGEMENT
BRAND EQUITY
BRANDING AND BRAND MANAGEMENT
BRAND PERSONALITY - ASSOCIATIONS
BRANDING AND BRAND MANAGEMENT
BRAND AWARENESS
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BRANDING AND BRAND MANAGEMENT
PERCEIVED VALUE
Discussion question
How do organic brands
create value for
customers?
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BRANDING AND BRAND MANAGEMENT
BRAND LOYALTY
© 2009 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin
BRANDING AND BRAND MANAGEMENT

Valuing Brand Equity
•
Provides a Financial Advantage
•
Brand Licensing
11-24
FIGURE 11-7 Alternative branding strategies
11-25
Brand Growth Strategies
New Product
Franchise
Extension
Flanker Brand
Line
Extension
Using Packaging to Create Value
How can firms use packaging to create value for
customers and the firm?
© 2009 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin