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PRODUCT STRATEGY

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CHAPTER 9 PRODUCT STRATEGY DECLINE STAGE EXAMPLES Hostess Brands Kodak Yellow Pages PC Decline YELLOW PAGES REVENUE 14 Billion 2011 ... – PowerPoint PPT presentation

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Title: PRODUCT STRATEGY


1
CHAPTER 9
  • PRODUCT STRATEGY

2
PRODUCT STRATEGY
  • Developing New Products
  • Product Life Cycle
  • Branding Strategy

3
DEVELOPING NEW PRODUCTS
  • New Product Process
  • New Product Failures

4
NEW PRODUCT PROCESS
  • Creative Ideas

Creative Business Ideas
Development and Testing
Introduce New Product
Time
5
SEARCH FOR CREATIVE IDEAS
  • Create cross-functional committees
  • Collect stakeholder ideas
  • Listen to customers

6
TYPES OF CREATIVE IDEAS
  • Never been done before
  • Improved product technology
  • Creative twist of an existing idea

7
CREATIVE IDEAS EXAMPLES
  • Charles Schwab
  • Ralph Lauren Polo Shirts
  • Houston National Bank
  • Blue Chip Forecast

8
Ralph Lauren Polo Shirt for Dogs
9
CREATIVE BUSINESS IDEAS
  • Company Fit
  • Financial Analysis
  • - Feasibility study
  • - Business Plan

10
COMPANY FIT
  • Existing Production Fit
  • Existing Distribution Fit
  • Product Strategy Fit

11
FEASIBILITY STUDIES
  • Studies of potential new products, with
    evaluations
  • of resources and time in screening creative
    ideas

12
FEASIBILITY STUDY PROCESS
  • Potential New Products
  • Financial Viability
  • Time and Resources
  • Proceed or Drop Creative Idea

13
PRODUCT DEVELOPMENT AND TESTING
  • Product development
  • - Types of new products
  • - Product design
  • Testing
  • - Beta testing
  • - Store audits

14
COMMERCIALIZATION
  • Launch new product
  • Design and place promotions
  • Fill distribution pipeline

15
NEW PRODUCT FAILURES
  • Failure to define target market
  • Lack of customer knowledge
  • Poor product performance

16
NEW PRODUCT FAILURE EXAMPLES
  • Betamax
  • Harley Davidson Perfume
  • Susan B Anthony Dollar

17
PRODUCT LIFE CYCLE
  • Sales

Introduction
Growth
Maturity
Decline
Time
18
STAGES OF PRODUCT LIFE CYCLE
  • Stage Sales Profits
  • Introduction Low Negative
  • Growth Climbing Rising
  • Maturity Stable Peaking
  • Decline Dropping Declining

19
CHARACTERISTICS OF THE INTRODUCTION STAGE
  • Negative Profits
  • Heavy Promotion Cost
  • Heavy Distribution Cost

20
INTRODUCTION STAGE EXAMPLES
  • Electric vehicles
  • Life Straw
  • Astrata

21
ASTRATA THEFT BOX
  • Stops motor on stolen trucks
  • Locks doors remotely, trapping thieves
  • Programmed to notify police

22
CHARACTERISTICS OF THE GROWTH STAGE
  • Increasing Revenue
  • Experience Curve
  • Increasing Profits

23
GROWTH STAGE EXAMPLES
  • Kindle
  • Greek Yogurt
  • Smart Phones
  • Zip Lines
  • Audio Books

24
SALES OF KINDLES
  • 2009 2 million
  • 2011 12 million

25
AUDIO BOOK SALES
  • 1997 480 Million
  • 2013 1,200 Million

26
CHARACTERISTICS OF THE MATURITY STAGE
  • Intense Competition
  • Maintain Promotion
  • Layering Strategy

27
MATURE STAGE EXAMPLES
  • Crayola
  • Baby carrots
  • Campbell soup

28
CONCEPT OF LAYERING
  • Sales

Time
29
LAYERING EXAMPLES
  • Chicken Soup for the Soul
  • Movies
  • Dental Services

30
(No Transcript)
31
MOVIE EXAMPLES OF LAYERING
  • Shrek
  • Star Trek
  • Halloween

32
LAYERING OF DENTAL SERVICES
  • Cosmetic
  • Straighten Teeth
  • Bonding Teeth
  • Whiten Teeth

33
DECLINE STAGE STRATEGIES
  • Simplify Product Line
  • Minimize Promotional Cost
  • Discontinue Product Line
  • Sell Product Line

34
DECLINE STAGE EXAMPLES
  • Hostess Brands
  • Kodak
  • Yellow Pages
  • PC Decline

35
YELLOW PAGES REVENUE
  • 14 Billion
  • 2011 9 Billion

36
BRANDING STRATEGY
  • Product Names
  • Major Types of Branding
  • Multiple Branding Strategy
  • Brand Extension

37
PRODUCT NAMES
  • Commodity Any company can use
  • Grade Defined by
    government
  • Brand Owned by a company

38
COMMODITY EXAMPLES
  • Aspirin
  • Gasoline
  • Nylon

39
GRADING EXAMPLES
  • Grade AA eggs
  • Choice beef
  • Organic foods

40
MAJOR TYPES OF BRANDING
  • National Brands by Manufacturers
  • Store Brands by Retailers

41
MANUFACTURING BRANDS ARE LOSING TO STORE BRANDS
  • Mass media universe has shattered
  • Mass channel universe has consolidated
  • High gross margins for store brands

42
MULTIPLE BRANDING STRATEGY
  • BLANKET BRANDS
  • - Same brand name
  • INDIVIDUAL BRANDS
  • - Different brand names

43
EXAMPLES OF BLANKET BRANDS
  • IBM
  • Whole Foods (365)
  • Costco (Kirkland)

44
EXAMPLES OF INDIVIDUAL BRANDS
  • Yum Brands
  • Sears

45
YUM BRANDS
  • Pizza Hut
  • Taco Bell
  • Kentucky Fried Chicken

46
SEARS RETAIL BRANDS
  • Kenmore
  • Craftman
  • Diehard

47
BRAND EXTENSION
  • A company with a well-known brand uses that
    brand to market to a different product category.

48
BRAND EXTENSION SUCCESSES
  • Visio
  • JELL-O pudding
  • IAMS pet insurance

49
BRAND EXTENSION FAILURES
  • New Coke
  • BIC pantyhose
  • Hooters airline

50
MOST POWERFUL BRANDS IN 2013
  • 1) Apple
  • 2) Microsoft
  • 3) Coca Cola
  • 4) IBM
  • 5) Google
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