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Create the ProductCreate 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
SHOPPING
SPECIALTY
UNSOUGHT
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 PRODUCTS
RAW MATERIALS
PROCESSED MATERIALS
COMPONENT PARTS
Equipment
Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
MROProduct
Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Raw Materials
Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Processed MaterialCopyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Component PartsCopyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Innovation
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Technological Change
Beh
avio
ral C
hang
e
Types of innovations
Continuous
Discontinuous
DynamicallyContinuous
Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
continuous innovations
tech
beha
vior
Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
CHANGE
dynamically continuous innovations
tech
beha
vior
Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
CHANGE
discontinuous innovations
tech
Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
CHANGE
beha
vior
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
Diffusionprocess by which a new product or innovation spreads through the population
Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Adoptionindividual decision to use/not use an innovation
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Adoption
Awareness
Interest
Evaluation
Trial
Adoption
New Product Buying
Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Adopter Categories
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RelativeAdvantage
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 HallPublishing as Prentice Hall