Product Strategies - PowerPoint PPT Presentation

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Product Strategies

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Product Positioning Strategy 1. Techniques 2. ... Total-Line Divestment New-Product Strategy 1. Product Improvement/Modification 2. Product Imitation 3. – PowerPoint PPT presentation

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Title: Product Strategies


1
Product Strategies
2
Product Defined
  • The sum of the physical, psychological, and
    sociological satisfactions the buyer derives from
    purchase, ownership and consumption

3
Product Life Cycle
  • Forces management to take a long-range view of
    marketing planning.
  • Alter marketing mix to meet changing conditions.

4
Product Positioning Strategy
  • 1. Techniques
  • 2. Single vs. Multiple Brand Strategy

5
Product-Repositioning Strategy
  • 1. Reposition among existing customers
  • 2. Reposition among new users
  • 3. Reposition for new uses

6
Product-Overlap Strategy
  • 1. Competing brands
  • 2. Private Labeling
  • 3. OEM strategy

7
Product-Scope Strategy
  • 1. Single product
  • 2. Multiple products
  • 3. System of products

8
Product-Design Strategy
  • 1. Standard products
  • 2. Customized products
  • 3. Standard product with modifications

9
Product-Elimination Strategy
  • 1. Harvesting
  • 2. Line-Simplification
  • 3. Total-Line Divestment

10
New-Product Strategy
  • 1. Product Improvement/Modification
  • 2. Product Imitation
  • 3. Product Innovation
  • Development Process
  • Idea Generation
  • Idea Screening
  • Project Planning
  • Product Development
  • Test Marketing
  • Commercialization

11
Diversification Strategy
  • 1. Concentric Diversification
  • 2. Horizontal Diversification
  • 3. Conglomerate Diversification

12
Value Marketing Strategy
  • 1. Quality Strategy
  • 2. Customer Service Strategy

13
Some Causes of New Product Failure
  • Poor up-front intelligence
  • Failure to stick close to what the company does
    best
  • Lack of competitive advantage
  • Failure to satisfy a need or want
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