Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key

image

Play button

image

Play button

image

Progress

1/39

Click to flip

39 Cards in this Set

  • Front
  • Back
Technology influence on product development
global positioning system, nanotechnology, radio frequency id, voice over internet protocol
VOIP markets
long distance & intl calls, corporate VOIP networks, Internet telephony services for small & midsize companies, internet only telephony services, prepaid calling cards
New Product/Service Process
Strategy/Niche -> creative ideas -> creative business ideas -> product development & testing -> product introduction
search for creative ideas
create cross functional committees, encourage toll free calls and web site replies, develop incentive programs for employee suggestions, collect stakeholders ideas
Creative Ideas
Charles Schwab, Girl scout cookies, blue chip forecasts, houston national bank
Creative business ideas: Company Fit, Financial analysis
Company fit: production fit, distribution fit, product strategy fit
Financial Analysis: financial objectives, business plan, feasibility of idea
Product Development and testing
Product Development: r&d, physical prototypes, industrial site placement
Testing: beta testing, store audit, city test audit
Product introduction
market entry timing, geographical strategy, introduction action plan
Product life cycle
Intro, growth, maturity, decline
Characteristics of the introduction stage
negative profits, heavy distribution cost, heavy advertising cost
RFID consumer benefits
improved car antitheft capacities, consumer savings from reduced costs, improved security of prescription drugs, faster recovery of stolen items, faster & more product recalls
New product failure: webvan internet home delivery example
Grocery delivery - consumers are willing to drive to store, industry already mature&efficient, low gross margins, focus on commerce not just ecommerce
Characteristics of growth stage
increasing revenue, experience curve, increasing profits
flatplanel tv, wireless networks, cell phones, vontage long dist. curves fitness centers
Characteristics of maturity stage
intense competition, product modification, layering strategy
Campbell soup, merrill lynch, crayola, animal crackers, chevrolet
Merrill Lynch Example
Profit 17 -28% in 03, fired 24000employees, slashed compensation costs, cut senior perks, closed 300 offices
Chevrolet Sales trend
decline stage
concept of layering
sales go up and then decline, but w/ layering products life can remain longer, Chicken soup for teenage soul, star trek movies, dental services
Dental services layering
cosmetic, healthy gums, straighten teeth, bonding teeth, whitening teeth
Characteristics of the decline stage
reduce product line, reduce promotion, minimize costs
floppy drives, oldsmobile, stethoscope, kodak cameras, monopoly
decline stage strategies
simplify product line, minimize promotional costs, place premium price on unprofitable products, sell product line, license product line, discontinue
Branding strategy
product name choices, grading, major types of branding, battle of the brands
Product name choices: commodity/generic, grading, branding
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)
USDA Organic Labeling, trends
100% Organic grade must contain 100% certified organic ingredients, increasing by the billions
Major types of branding
national brands are sponsored by manufacturers like Shell, HP, Pepsi-Cola
Private labels are sponsored by retailers like Sears, Walgreens, Randalls
UNILEVER National Brands
lipton, dove, hellmans, ragu, skippy, lawry
Store Brands Examples: Federated, JC Penny, May
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
Battle of Brands at Costco, HEB, Walmart, Whole Foods
Costco- Kirland Detergent vs P&G Cascade
HEB- Harvest moon vs delmonte
Walmart- Sam's choice vs ORange crush
Whole foods- 365 vsw Kellogg
Service Strategy: characteristics of products vs services
more tangible, produced&consumed at diff times, more uniform quality control
more intangible, prod&con same time, more variable quality control
Service strategy: Service Continuum
Pure tangible good soap/beer, tangible good w/ some services automobile, hybrid restaurant/nightclub, service w/some tangible good telephone, pure service lawyer
Capacity management of services
1,2
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
Store Brands Examples: Federated, JC Penny, May
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
Battle of Brands at Costco, HEB, Walmart, Whole Foods
Costco- Kirland Detergent vs P&G Cascade
HEB- Harvest moon vs delmonte
Walmart- Sam's choice vs ORange crush
Whole foods- 365 vsw Kellogg
Service Strategy: characteristics of products vs services
more tangible, produced&consumed at diff times, more uniform quality control
more intangible, prod&con same time, more variable quality control
Service strategy: Service Continuum
Pure tangible good soap/beer, tangible good w/ some services automobile, hybrid restaurant/nightclub, service w/some tangible good telephone, pure service lawyer
Capacity management of services
1,2
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
Growth of home services
time strapped households, aging population, luxury factor
variety of home services
doctor house calls, computer, decorations, horticulture, tools
Competition of services:
Fed ex, Pricewaterhousecoopers, bank of america, hilton
ups, methodist, deloitte&touche, Chase, Sheraton
deregulation of service
travel, communications financial, professional