1. INTRODUCTION: MKTG 315 Marketing and New Product Strategy
Instructor: Mike Obal
Marketing and New Product Strategy
Review on Marketing
Roles of Marketing Manager
Marketing for New Products
Assignments

2. Introductions Your name
Your career plan in terms of the industry, region and/or field of interest
How this class might fit into your career plans

3. What is Marketing?
A definition of AMA (2004)
Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
What is value?

4. Key Roles of a Marketing Manager
Nurturing the culture of customer/ marketing orientation
Conducting marketing analysis and planning
Exercising the actions in the marketplace

5. 1. Nurturing the Business Culture Production vs. Marketing Orientation
Activities Production-orientation Marketing-orientation
Product Performance/cost Need satisfaction
Product line Narrow Broad
Pricing Cost-based Benefit-based
Research Technical research Market research
Packaging Cost-minded Convenience-minded
Promotion Features & price Benefits & satisfaction
What’s preferred: inventions or innovations?

6. 2. Marketing Analysis and Planning
Marketing managers must undertake the following, especially when a new product is released!
Trend model
Positioning
PLC concept
Sales forecasting
SWOT analysis
Market-entry timing
Segmentation
Benchmarking

7. 3. Actions in the Marketplace
Marketing managers must understand that their view (the p’s) varies from the customers’ views (the c’s).
P’s C’s
Product: offerings, branding, packaging,… (Customer value)
Place: channel, transportation,… (Convenience)
Pricing: entry pricing, price negotiation,… (Costs)
Promotion: advertising, selling, tradeshow,… (Communication)

8. Marketing for New Products… - is challenging because of the uncertainty. - can be approached analytically or strategically. - can be processed independently or collaboratively.

9. What do we need for our class?
Textbook for cases (write-ups and in-class discussion)
New Products Management (11th edition, 2014) authored by Crawford and Di Benedetto, McGraw-Hill/Irwin Publishing: ISBN-10: X; ISBN-13:
Notebook and laptop/pad for in-class work
Access to Blackboard for course materials
(of course!)
A group for group project write-ups!

10. How to access Blackboard Obtain your Blackboard username and password: To access the online supplement for your course: To get technical help, contact: or Blackboard Learn Tutorials for students is available on the landing page of UML Online Learning.

11. Classroom Etiquette Arrive on time for each class.
IT tools can be utilized only for class work.
Follow the honesty and manner codes of UML.
Be collaborative for the group project.

12. Assignments Read Textbook - Chapter 1
Be ready for discussion and in-class write-up on:
Strategic Elements of Product Development
Overview of New Product Management
-Opportunity Identification
-Concept Generation and Evaluation
-Product Development
-Launch

13. Thanks!