Bangor Transfer Abroad Programme Introduction to Marketing From Products to Brands and Beyond Creating Customer Values

Bangor Transfer Abroad Programme Introduction to Marketing Structure Creating Values Product Life Cycle New Product Development Branding Product Management

Bangor Transfer Abroad Programme Introduction to Marketing The Marketing Cycle 交易 商業消費者 PhysicalProducts Brands Services

Bangor Transfer Abroad Programme Introduction to Marketing A way to trace the stages of a product's acceptance from its introduction to its demise. Refers to the life of the product category The time a product category spends in a stage of the product life cycle may vary from a few weeks to decades. A tool to help marketers understand - where their product is now - what may happen -- which strategies are normally appropriate Product Life Cycle

Bangor Transfer Abroad Programme Introduction to Marketing Life Cycle Management

Bangor Transfer Abroad Programme Introduction to Marketing Introduction Stage Sales grow slowly Profit is minimal or negative Create awareness Stimulate trial High production costs Limited product models Frequent product modification Penetration pricing Skimming pricing Little competition High failure rate, High marketing costs Promotion strategy focuses on primary demand for the product category - developing product awareness awareness - Informing about product benefits. benefits. Intensive personal selling to retailers and wholesalers is required

Bangor Transfer Abroad Programme Introduction to Marketing Growth Stage Characteristics Sales grow at an increasing rate. Many competitors enter the market. Large companies may acquire small pioneering firms. Profits are healthy Promotion emphasis - heavy brand advertising - Differences between brands. brands. Gaining wider distribution is a key goal Toward the end of this stage - prices normally fall - profits reach their peak. Development costs have been recovered Sales volume has created economies of scale.

Bangor Transfer Abroad Programme Introduction to Marketing Maturity Stage Sales continue to increase but at a decreasing rate The marketplace is approaching saturation Annual models of many products An emphasis on product style rather than function Product lines are widened or extended marginal competitors begin dropping out of the market. Heavy promotions to both the dealers and consumers are required. Prices and profits begin to fall.

Bangor Transfer Abroad Programme Introduction to Marketing Decline Stage Signaled by a long-run drop in sales. Falling demand forces many competitors out of the market - The rate of decline is governed by how rapidly consumer tastes change or - how rapidly substitute products are adopted. A few small specialty firms may still manufacture the product.

Bangor Transfer Abroad Programme Introduction to Marketing New Product Development 新產品發展

Bangor Transfer Abroad Programme Introduction to Marketing Innovation – Adoption

Bangor Transfer Abroad Programme Introduction to Marketing Common reasons for resisting a product in the introduction stage are usage barriers product is incompatible with existing habits value barriers product provides no incentive to change risk barriers physical, economic, or social psychological barriers cultural differences or image

Bangor Transfer Abroad Programme Introduction to Marketing Product Mix Number of Product Lines FEW MANY Assortment of Narrow variety Wide variety Product items Shallow assort. Shallow assort. in each line Narrow variety Wide variety Deep assort. Deep assort.

Bangor Transfer Abroad Programme Introduction to Marketing Narrow Variety/ Shallow assortment Most limited selection Most limited selection Unconventional outlets e.g. vending machines / door-to-door Unconventional outlets e.g. vending machines / door-to-door Needs wide availability (extensive) Needs wide availability (extensive)

Bangor Transfer Abroad Programme Introduction to Marketing Specialise in few lines - wide selection Specialise in few lines - wide selection within line within line Clear Brand Image Clear Brand Image Narrow Variety / Deep assortment

Bangor Transfer Abroad Programme Introduction to Marketing Wide Variety / Shallow assortment “a little of everything” “a little of everything” Convenience products Convenience products

Bangor Transfer Abroad Programme Introduction to Marketing Wide Variety / Deep assortment Large number of product lines with deep assortment in each Large number of product lines with deep assortment in each E.G. Large Department Stores

Bangor Transfer Abroad Programme Introduction to Marketing Product Management

Bangor Transfer Abroad Programme Introduction to Marketing Role of a Product Manager Product manager is responsible for marketing Product manager is responsible for marketing products through the successive stages of their life products through the successive stages of their life cycles. cycles. Product (or brand) manager manages the Product (or brand) manager manages the marketing efforts for a close-knit family of products marketing efforts for a close-knit family of products or brands. or brands. Three ways to manage: Three ways to manage: - modify the product - modify the product - modify the market - modify the market - reposition the product. - reposition the product.