Product Design Product item and line Product Classification

Product Design

Product item and line

Product Classification

Product Classification

Point of Difference

Why is point of difference so important ?

Steps in New Product Development

SWOT

Step 2 – Idea Generation

Step 3 - Screening and Evaluation

Focus Group

Step 4 - Business Analysis

Step 5 - Development

Step 6 - Test Marketing

Step 7 - Commercialization

The Product Life Cycle

Introduction

Introduction

Introduction

Growth

Maturity

Decline

So what are we really looking at

Product Life Cycle Consideration

Management of the Product Life Cycle

Product Modification

Market Modification

Repositioning

Pricing and Strategies

Pricing

Pricing and Profit

Pricing and the Marketing Mix

Pricing Considerations and Strategies

Consumer Perception

Consumer Perception

Demand

Cost

Newness of the Product

Competition

Pricing Objectives and Strategies

Special Pricing Strategies

Pricing Strategies Price Lining Bundle Pricing 19. 99 29. 99 Loss leader Pricing 25. 99 regularly 79. 99 1. 50 6. 99 Yield Management Pricing 30/each on sale June 10 30 20/each on sale June

Pricing Adjustments and Regulations

Discounts and Allowances

Regulatory Factors

Regulatory Factors

Homework -30 pts. for each late assignment • Key Terms – 100 & 108(answer in full sentences) • Quick Check – 107 & 114 (answer in full sentences) • Read pg 118