Roadmap: from here to the final exam We finished strategy with Chapter 9. Now we move on to tactics --- the “4 P’s” Product/Price/”Place”/Promotion Tonight we start with Products

Wherever you work right now… If companies market benefits, not products, what does your company market? (169-170) Tonight’s GOALS: you could explain to someone in your company how to: raise the odds of a successful new product (175-181) position it for faster diffusion – then reposition it (181-183) reposition any product over its life cycle (183-186)

Let’s pick a new product idea Does the product meet a need and offer superior value? For what target market? How do we raise the odds? How do we find out how successfully we will market that product? What factors matter inside the company and outside? GOAL: You could answer these questions

Consumer Adoption Process: an aggregate perspective Figure 10-4: Adopter Categorization on the Basis of Relative Time of Adoption of Innovation

For a new product, how do you buy…. Relative advantage? Compatibility? Less complexity? Divisibility? The ability to describe the benefits above to potential buyers or channel partners? GOAL: Explain how those dollars are spent differently as adoption proceeds.

Marketing Through the Product Life Cycle Figure 10-5: Sales and Profit Life Cycles

Why care about the Product Life Cycle? Marketing implications of when you need to spend money --- and on what Forecasting implications Repositioning implications GOAL: You could explain these three issues to someone in your company