Create the Product 08 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall.

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Presentation transcript:

Create the Product 08 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall

Value Proposition Make Marketing Value Decisions Understand Consumer Value Needs Create Value Proposition Communicate Value Proposition Deliver Value Proposition Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall

What is a Product? Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Goods Intangibles

AUGMENTED PRODUCT warranty, delivery, support website Honda lawnmower Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall CORE PRODUCT ACTUAL PRODUCT Lawn that neighbors envy Layers of a Product

Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Classifying Products DURABLES NONDURABLES

Consumer Product Classification CONVENIENCE Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall SHOPPINGSPECIALTYUNSOUGHT

Convenience Product Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall

Shopping Product Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall

Specialty Product Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall

Unsought Product Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall

Business Product Classification EQUIPMENT Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall MRO PRODUCTSRAW MATERIALSPROCESSED MATERIALSCOMPONENT PARTS

Equipment Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall

MRO Product Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall

Raw Materials Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall

Processed Material Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall

Component Parts Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall

Innovation Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall

Technological Change Behavioral Change Types of innovations Continuous Discontinuous Dynamically Continuous Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall

continuous innovations tech behavior Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall CHANGE

dynamically continuous innovations tech behavior Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall CHANGE

discontinuous innovations tech Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall CHANGE behavior

New Product Failure Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall

New Product Development Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall

New Product Development idea generation Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall 1

New Product Development product concept development Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall 2

New Product Development marketing strategy development Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall 3

New Product Development business analysis Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall 4

New Product Development technical development Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall 5

New Product Development test marketing Copyright © 2021 Pearson Education, Inc. Publishing as Prentice Hall 6

New Product Development final commercialization Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall 7

Diffusion and Adoption Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall

Diffusion process by which a new product or innovation spreads through the population Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall

Adoption individual decision to use/not use an innovation Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall

Adoption AwarenessInterest Evaluation Trial Adoption New Product Buying Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall

Adopter Categories Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall

Relative Advantage Trialability Compatibility Observability Complexity Making an innovation successful Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Printed in the United States of America. Copyright © 2012 Pearson Education, Inc. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall