Stages of product life
Conceive
Plan
Develop
Qualify
Launch
Deliver Retire
Stages of the product development process prior to a product being
... [Show More] availalable to customers:
Conceive
Plan
Develop
Qualify
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Ansoff Expansion Grid
Market penetration - sell existing products in existing market
Product development - sell new products in existing market
Market development - sell existing product in new market
Diversification - sell new products in new market
Stages of Product Life Cycle
Intro
Growth
Maturity
Decline
Key items for a product launch
Product is ready
Company is ready
Sales and Marketing are ready
Key activities of Deliver stage:
Monitor sales, service, development and production
Evaluate results and imp change as needed
Decide when to retire/start retirement planning
Special Life Cycles
Styles: Distinct mode of expression (popularity varies)
Fashion: Current popular style (cyclical by generation)
Fads: Gain rapid acceptance, decline quickly (limited market, don't address basic needs)
Product Types
Consumer - for personal consumption
Convenience - purchased frequently, used immediately
Shopping - bought less frequently, comparison shop, higher price, fewer places to buy
Specialty - special purchase effort, unique characteristics
Unsought - new innovations or unsought (casket)
Industrial - for further processing or business use
Product mix: width/breadth
The number of product categories an organization offers
BMW: cars, motorcycles, rolls royce
Product mix: Depth
The number of product lines in each category
BMW: 1 series, 3 series, etc
Product mix: Length
The number of products in each category
BMW: coupe, sedan, convertible
Product mix: Consistency
How closely related product lines are
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Product line
A group of closely related product items
Product line stretch
Expands product line (1, 3, 5 series)
Product line fill
Adds variety to product line (coupe, sedan, convertible)
Product line extension
Use an established product brand name for new item in product category
(Hidden Valley Ranch single serve)
Definition of Brand
A name, term, sign, symbol, or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of the competition. Promise of benefits. [Show Less]