kotler framework 5e_10_sppt
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Framework for Marketing Management
10Setting Product
Strategy
1
Chapter Questions
What are the characteristics of products and how do marketers classify products?
How can companies differentiate products? How can a company build and manage its
product mix and product lines?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-2
Chapter Questions
How can companies use packaging, labeling, warranties, and guarantees as marketing tools?
What strategies are appropriate for new product development and through the product life cycle?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-3
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-4
What is a Product?
A product is anything that can be offered to a market to satisfy a want or need, including
physical goods, services, experiences, events, persons, places, properties,
organizations, information, and ideas.
Figure 10.1 Five Product Levels
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-5
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-6
Product Classification Schemes
Durability
Tangibility
Use
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-7
Durability and Tangibility
Nondurable goods
Durable goods
Services
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-8
Consumer Goods Classification
Convenience
Shopping
Specialty
Unsought
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-9
Industrial Goods Classification
Materials and parts Capital items Supplies/business services
Product Differentiation
Product form Features Customization Performance Conformance
Durability Reliability Repairability Style
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-10
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-11
Service Differentiation
Ordering ease Delivery Installation Customer training Customer consulting Maintenance and repair Returns
Design
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-12
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-13
Line Stretching
Down-Market Stretch
Up-Market Stretch
Two-Way Stretch
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-14
Product-Mix Pricing
Product-line pricing Optional-feature pricing Captive-product pricing Two-part pricing By-product pricing Product-bundling pricing
Ingredient Branding
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-15
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-16
What is the Fifth P?
Packaging, sometimes called the 5th P, is all the activities of designing and
producing the container for a product.
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-17
Factors Contributing to the Emphasis on Packaging Self-service Consumer affluence Company/brand image Innovation opportunity
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-18
Packaging Objectives
Identify the brand Convey descriptive and persuasive
information Facilitate product transportation and
protection Assist at-home storage Aid product consumption
Functions of Labels
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-19
Figure 10.2 New-Product Development Decision Process
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-20
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-21
Ways to Find Great New Ideas
Run informal sessions with customers Allow time off for technical people to putter
on pet projects Make customer brainstorming a part of plant
tours Survey your customers Undertake “fly on the wall” research to
customers
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-22
More Ways to Find Great Ideas
Use iterative rounds with customers Set up a keyword search to scan trade
publications Treat trade shows as intelligence missions Have employees visit supplier labs Set up an idea vault
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-23
Drawing Ideas from Customers
Observe customers using product Ask customers about problems with products Ask customers about their dream products Use a customer advisory board or a brand
community of enthusiasts to discuss product
Demand-First Innovation and Growth (DIG) Framework
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-24
Demand Landscape
Opportunity Space
Strategic Blueprint
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-25
Idea Generation: Creativity Techniques Attribute listing Forced relationships Morphological analysis Reverse assumption analysis New contexts Mind mapping
Figure 10.3 Product and Brand Positioning
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-26
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-27
Concept Testing
Communicability and believability Need level Gap level Perceived value Purchase intention User targets, purchase occasions,
purchasing frequency
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-28
Prototype Testing
Alpha testing Beta testing
Rank-order method Paired-comparison method Monadic-rating method
Market testing
Consumer Goods Market Testing
Sales-Wave Research Simulated Test Marketing Controlled Test Marketing Test Markets
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-29
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-30
Test Market Decisions
How many test cities? Which cities? Length of test? What information to collect? What action to take?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-31
What is Adoption?
Adoption is an individual’s decision to become a regular user of a product.
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-32
Stages in the Adoption Process
Awareness
Interest
Evaluation
Trial
Adoption
Figure 10.4 Adopter Categorization on the Basis of Relative time of Adoption
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-33
For Review
What are the characteristics of products and how do marketers classify products?
How can companies differentiate products? How can a company build and manage its
product mix and product lines?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-34
Also For Review
How can companies use packaging, labeling, warranties, and guarantees as marketing tools?
What strategies are appropriate for new product development and through the product life cycle?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 10-35
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