Characteristics of a service and example for each - Inseparability - Bank visit
Intangibility - University Course
Variability - Customer
... [Show More] Service
Perishability - Airline flight
What are Kotler's 4 Market Strategies? - Product, place, price, promotion
What are Porter's 5 forces? - Bargaining power of suppliers
Bargaining power of customers
Threat of new entrants
Threat of substitute products
= Competitive Rivalry
The seven (7) phases of complete product life cycle (AIPMM version) - 1) Conceive
2) Plan
3) Develop
4) Quality
5) Launch
6) Deliver
7) Retire
What are the steps of the New Product Development/Acquisition Process? - 1) New Product Development/ Acquisition
Commercialization & Manufacturing Operations
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2) Introduction
3) Growth, Maturity, Decline
4) Withdrawal
Product/Market Expansion grid (aka: Ansoff Matrix) -
Write a positioning statement - For [target customer] who [statement of the need or opportunity] the [product name] is a
[product category] that [statement of key benefit - that is, compelling reason to buy]
Unlike [primary competitive alternative] our product [statement of primary differentiation]
Fill in the Product Life Cycle for Introduction
Marketing objective:
Competition:
Product:
Price:
Promotion:
Place: - Marketing objective: Gain awareness
Competition: None
Product: One
Price: Skimming or penetration
Promotion: Inform, educate
Place: Limited
Fill in the Product Life Cycle for Growth
Marketing objective:
Competition:
Product:
Price:
Promotion:
Place: - Marketing objective: Stress Differentiation
Competition: Growing
Product: More version
Price: Gain share, deal
Promotion: Stress competitive
Place: More outlets
Fill in the Product Life Cycle for Maturity
Marketing objective:
Competition:
Product:
Price:
Promotion:
Place: - Marketing objective: Maintain Brand Loyalty
Competition: Many
Product: Full product line
Price: Defend share, profit
Promotion: Remind orient difference
Place: Max outlets
Fill in the Product Life Cycle for Decline
Marketing objective:
Competition:
Product:
Price: [Show Less]