Product and Pricing Strategies © Prentice Hall, 2005 Excellence in Business, Revised Edition

Product Characteristics Fundamentals Decisions Pricing © Prentice Hall, 2005 Excellence in Business, Revised Edition

Excellence in Business, Revised Edition The Product Continuum Tangible Goods Products Intangible Services Ideas © Prentice Hall, 2005 Excellence in Business, Revised Edition

Characteristics of Service Products Intangible quality Perishable nature © Prentice Hall, 2005 Excellence in Business, Revised Edition

Excellence in Business, Revised Edition Consumer Products Convenience products Shopping products Specialty products Unsought goods © Prentice Hall, 2005 Excellence in Business, Revised Edition

Excellence in Business, Revised Edition Industrial Products Expense items Short term Pencils Printer cartridges Capital items Long term Copy machines Computers © Prentice Hall, 2005 Excellence in Business, Revised Edition

Products and Their Uses Raw materials Components Supplies Installations Services Business equipment © Prentice Hall, 2005 Excellence in Business, Revised Edition

Excellence in Business, Revised Edition The Product Life Cycle Introduction Growth Maturity Decline © Prentice Hall, 2005 Excellence in Business, Revised Edition

New Product Development Idea generation Idea screening Business analysis Prototype development Test marketing Commercialization © Prentice Hall, 2005 Excellence in Business, Revised Edition

Excellence in Business, Revised Edition Idea Generation Customers Competitors Employees © Prentice Hall, 2005 Excellence in Business, Revised Edition

Excellence in Business, Revised Edition Idea Screening Industrial products Feasibility study Consumer products Concept testing © Prentice Hall, 2005 Excellence in Business, Revised Edition

Excellence in Business, Revised Edition Business Analysis Forecast sales Estimate costs Project profits © Prentice Hall, 2005 Excellence in Business, Revised Edition

Prototype Development Packaging Marketing mix Production Resources © Prentice Hall, 2005 Excellence in Business, Revised Edition

Excellence in Business, Revised Edition Test Marketing Introduce the product Monitor customer reactions © Prentice Hall, 2005 Excellence in Business, Revised Edition

Excellence in Business, Revised Edition Commercialization Production Distribution © Prentice Hall, 2005 Excellence in Business, Revised Edition

Excellence in Business, Revised Edition Product Identities Branding Packaging Labeling © Prentice Hall, 2005 Excellence in Business, Revised Edition

Excellence in Business, Revised Edition Branding Products Brand names Brand marks Trade marks National brands Private brands Co-branding Generic products © Prentice Hall, 2005 Excellence in Business, Revised Edition

Product Line Selection Expansion Product Mix Line filling Line extension Brand extension Line stretching Width Length Depth Risks and rewards © Prentice Hall, 2005 Excellence in Business, Revised Edition

Excellence in Business, Revised Edition Product Positioning Features Services Image Price Category © Prentice Hall, 2005 Excellence in Business, Revised Edition

Product Positioning Errors Under positioning Over positioning Confused positioning © Prentice Hall, 2005 Excellence in Business, Revised Edition

International Strategies Standardization Customization © Prentice Hall, 2005 Excellence in Business, Revised Edition

Developing Pricing Strategies Marketing objectives Government regulations Consumer perceptions Consumer demand © Prentice Hall, 2005 Excellence in Business, Revised Edition

Excellence in Business, Revised Edition Cost-Based Pricing Fixed costs Selling price per unit-Variable costs per unit Break-Even Point = © Prentice Hall, 2005 Excellence in Business, Revised Edition

Other Pricing Strategies Price-based Optimization Skimming Penetration © Prentice Hall, 2005 Excellence in Business, Revised Edition

Price Adjustment Strategies Discount pricing Bundling Dynamic pricing © Prentice Hall, 2005 Excellence in Business, Revised Edition