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7/29/2019 Student 13
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 1
Defining the Exchange:Product and Pricing
Strategies
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 2
Product Characteristics
Types of products
Stages of products
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 3
The Product Continuum
Tangible
Goods
Products
Intangible
Services Ideas
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 4
Augmenting the Basic Product
Core benefits
Actual product
Augmented product
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 5
Characteristics of Service
Products Intangible quality
Perishable nature
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 6
Consumer Products
Convenience products
Shopping products
Specialty products
Unsought goods
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 7
Industrial Products
Expense items
Short term
Pencils Printer cartridges
Capital items
Long term Copy machines
Computers
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 8
Products and Their Uses
Raw materials
Components
Supplies
Installations
Services Business equipment
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 9
The Product Life Cycle
Introduction
Growth
Maturity
Decline
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 10
Product Makeovers
Reinvigorated designs
Refreshed marketing efforts
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 11
New Product Development
1. Idea generation
2. Idea screening
3. Business analysis
4. Prototype development
5. Test marketing
6. Commercialization
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 12
Idea Generation
Customers
Competitors
Employees
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 13
Idea Screening
Industrial products
Feasibility study
Consumer products
Concept testing
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 14
Business Analysis
Forecast sales
Estimate costs
Project profits
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 15
Prototype Development
Packaging
Marketing mix
Production
Resources
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 16
Test Marketing
Introduce the product
Monitor customer reactions
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 17
Commercialization
Production
Distribution
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 18
Product Identities
Branding
Packaging
Labeling
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 19
Branding Products
Equity
Name selection
Sponsorship
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 20
Packaging and Labeling
Function
The product
Information Inventory control
Strategy
Display Differentiation
Appeal
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 21
Product Strategies
Product line
Product mix
Product expansion
International markets
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 22
Product Line and Product Mix
Width
Length
Depth
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 23
Product Expansion
Add items in a product categoryunder the same brand name
Add new products with the sameproduct name
Apply a successful brand name to anew category
Translate a successful brand in adifferent product format
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 24
International Markets
Standardization
Customization
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 25
Product Positioning
Features
Services
Image
Price
Category
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 26
Product Positioning Errors
Under positioning
Over positioning
Confused positioning
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 27
Developing Pricing Strategies
Marketing objectives
Government regulations
Consumer perceptions
Consumer demand
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 28
Cost-Based Pricing
Fixed costs
Selling price per unit-Variable costs per unit
Break-Even
Point=
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 29
Other Pricing Strategies
Price-based
Optimization
Skimming
Penetration
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 13 - 30
Price Adjustment Strategies
Discount pricing
Bundling
Dynamic pricing