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39 Cards in this Set
- Front
- Back
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Technology influence on product development
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global positioning system, nanotechnology, radio frequency id, voice over internet protocol
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VOIP markets
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long distance & intl calls, corporate VOIP networks, Internet telephony services for small & midsize companies, internet only telephony services, prepaid calling cards
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New Product/Service Process
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Strategy/Niche -> creative ideas -> creative business ideas -> product development & testing -> product introduction
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search for creative ideas
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create cross functional committees, encourage toll free calls and web site replies, develop incentive programs for employee suggestions, collect stakeholders ideas
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Creative Ideas
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Charles Schwab, Girl scout cookies, blue chip forecasts, houston national bank
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Creative business ideas: Company Fit, Financial analysis
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Company fit: production fit, distribution fit, product strategy fit
Financial Analysis: financial objectives, business plan, feasibility of idea |
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Product Development and testing
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Product Development: r&d, physical prototypes, industrial site placement
Testing: beta testing, store audit, city test audit |
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Product introduction
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market entry timing, geographical strategy, introduction action plan
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Product life cycle
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Intro, growth, maturity, decline
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Characteristics of the introduction stage
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negative profits, heavy distribution cost, heavy advertising cost
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RFID consumer benefits
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improved car antitheft capacities, consumer savings from reduced costs, improved security of prescription drugs, faster recovery of stolen items, faster & more product recalls
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New product failure: webvan internet home delivery example
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Grocery delivery - consumers are willing to drive to store, industry already mature&efficient, low gross margins, focus on commerce not just ecommerce
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Characteristics of growth stage
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increasing revenue, experience curve, increasing profits
flatplanel tv, wireless networks, cell phones, vontage long dist. curves fitness centers |
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Characteristics of maturity stage
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intense competition, product modification, layering strategy
Campbell soup, merrill lynch, crayola, animal crackers, chevrolet |
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Merrill Lynch Example
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Profit 17 -28% in 03, fired 24000employees, slashed compensation costs, cut senior perks, closed 300 offices
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Chevrolet Sales trend
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decline stage
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concept of layering
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sales go up and then decline, but w/ layering products life can remain longer, Chicken soup for teenage soul, star trek movies, dental services
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Dental services layering
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cosmetic, healthy gums, straighten teeth, bonding teeth, whitening teeth
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Characteristics of the decline stage
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reduce product line, reduce promotion, minimize costs
floppy drives, oldsmobile, stethoscope, kodak cameras, monopoly |
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decline stage strategies
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simplify product line, minimize promotional costs, place premium price on unprofitable products, sell product line, license product line, discontinue
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Branding strategy
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product name choices, grading, major types of branding, battle of the brands
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Product name choices: commodity/generic, grading, branding
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Commodity/generic-no brand any company can use (aspirin, thermos,gasoline), Grading-grades defined by gov (organic,foods,wheat, branding-owned by a company (Coke,pepsi)
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USDA Organic Labeling, trends
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100% Organic grade must contain 100% certified organic ingredients, increasing by the billions
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Major types of branding
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national brands are sponsored by manufacturers like Shell, HP, Pepsi-Cola
Private labels are sponsored by retailers like Sears, Walgreens, Randalls |
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UNILEVER National Brands
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lipton, dove, hellmans, ragu, skippy, lawry
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Store Brands Examples: Federated, JC Penny, May
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Federated: Tasso,Elba for men's suits for CEO's, JCPENNY: Stafford for men's wrinklefree dress shirts, Content for tailored clothes aimed at 30-45age group
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Battle of Brands at Costco, HEB, Walmart, Whole Foods
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Costco- Kirland Detergent vs P&G Cascade
HEB- Harvest moon vs delmonte Walmart- Sam's choice vs ORange crush Whole foods- 365 vsw Kellogg |
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Service Strategy: characteristics of products vs services
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more tangible, produced&consumed at diff times, more uniform quality control
more intangible, prod&con same time, more variable quality control |
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Service strategy: Service Continuum
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Pure tangible good soap/beer, tangible good w/ some services automobile, hybrid restaurant/nightclub, service w/some tangible good telephone, pure service lawyer
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Capacity management of services
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Excess capacity strategies: lay off employees, offer price incentives, develop special promotions
Full capacity strategies: hire part time employees, train employees for multiple tasks, reduce promotions |
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Store Brands Examples: Federated, JC Penny, May
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Federated: Tasso,Elba for men's suits for CEO's, JCPENNY: Stafford for men's wrinklefree dress shirts, Content for tailored clothes aimed at 30-45age group
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Battle of Brands at Costco, HEB, Walmart, Whole Foods
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Costco- Kirland Detergent vs P&G Cascade
HEB- Harvest moon vs delmonte Walmart- Sam's choice vs ORange crush Whole foods- 365 vsw Kellogg |
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Service Strategy: characteristics of products vs services
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more tangible, produced&consumed at diff times, more uniform quality control
more intangible, prod&con same time, more variable quality control |
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Service strategy: Service Continuum
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Pure tangible good soap/beer, tangible good w/ some services automobile, hybrid restaurant/nightclub, service w/some tangible good telephone, pure service lawyer
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Capacity management of services
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Excess capacity strategies: lay off employees, offer price incentives, develop special promotions
Full capacity strategies: hire part time employees, train employees for multiple tasks, reduce promotions |
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Growth of home services
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time strapped households, aging population, luxury factor
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variety of home services
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doctor house calls, computer, decorations, horticulture, tools
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Competition of services:
Fed ex, Pricewaterhousecoopers, bank of america, hilton |
ups, methodist, deloitte&touche, Chase, Sheraton
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deregulation of service
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travel, communications financial, professional
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