Produktstrategi Flashcards
Hvad er de tre lag af et produkt?
- The core product (267) a. The core product consists of all the benefits the product will provide for consumers or business customers 2. The actual product a. The physical good or the delivered service that supplies the desired benefit 3. The augmented product (268) a. Marketers offer customers an augmented product – the actual product plus other supporting features such as a warranty, credit, delivery, installation and repair service after sale
Beskriv durable og non-durable goder
• Marketers classify consumer goods (B2C) as durable or non-durable goods o Durable goods > consumer products that provide benefits over a period of months, years or even decades (e.g. cars, furniture etc.) o Non-durable goods > consumed in a short period of time (e.g. newspaper, food)
Beskriv de 8 produktkategorier
• Convenience product > non-durable good or service that consumers purchase frequently with a minimum of comparison and effort (e.g. milk)
o Marketers need to make sure that these products are easily obtainable in all the places where consumers are likely to look for it
- Staple products > necessary items that are available almost everywhere (e.g. bread)
- Impulse purchase > something people often buy on the spur of the moment
- Emergency product > those products we purchase when we are in a dire need (272)
- Shopping products > goods or services for which consumers spend time and effort gathering information on price, product attributes and product quality o Limited problem-solving decision
• Attribute-based shopping products e.g. gifts
o Consumers spend time and energy finding the best possible product selection
• Specialty product > unique characteristics that are important to buyers at any price (Rolex)
o Extended problem solving > requires a lot of effort to choose
• Unsought products > goods or services for which a consumer has little awareness or interest until a need arises (273)
o E.g. pension
Beskriv de 4 typer B2B produkter
Five different types of B2B products:
- Equipment
* a. Refers to the products an organization uses in its daily operations- i. Capital equipment > building, robotics ii. Accessory equipment > computers, photocopy machine
- Equipment
- Maintenance, repair and operating (MRO) products (274)
* a. Goods that a business customer consumer in a relatively short time i. E.g. mops, light bulbs, cleaning supplies
- Maintenance, repair and operating (MRO) products (274)
- Raw materials
* a. Products of the finishing, lumber, agricultural and mining industries that organizational customers purchase to use in their finished products
- Raw materials
- Processed materials and special services
* a. Processed materials > produced when firms transform raw materials from their original state
* b. Special services > may be technical, such as equipment repair or non-technical such as market research and legal services
* c. Component parts > manufactured goods or subassemblies of finished items that organizations need to complete their own products
- Processed materials and special services
Beskriv de tre typer af innovation
Innovations differ in their degree of newness and this helps to determine how quickly the target market will adopt them • Continuous innovations (276) o A modification to an existing product o This type of modification can set one brand apart from its competitors o The consumer doesn’t have to learn anything new o A copycat is a new product that copies with slight modification, the design of an original product • Dynamically continuous innovations o Pronounced modification to an existing product that requires a modest amount of learning or change in behavior to use it • Discontinuous innovations o To qualify as a discontinuous innovation, the product must create major changes in the way we live o No similar product has ever been on the market
Beskriv processen af at udvikle et nyt produkt
This process is based on expenditures in research and development (R&D) There are seven phases in the process of new product development (NPD): Phase 1; Idea generation Phase 2; Product concept development and screening Phase 3; Marketing strategy development Phase 4; Business analysis Phase 5; Technical development Phase 6; Test marketing Phase 7; Commercialization Adoption and diffusion of new products • Diffusion > describes how the use of a product spreads throughout a population
Beskriv processen af brugernes adoption af ny innovation
Adoption pyramid > shows how a person goes from being unaware of an innovation through the stages of awareness, interest, evaluation, trial, adoption and confirmation: 1. Awareness 2. Interest 3. Evaluation 4. Trial 5. Adoption 6. Confirmation
Beskriv adopter kategorierne
Based on adopters’ roles in the diffusion process, experts classify them into five categories: • Innovators, early adopters, early majority, late majority and laggards
Hvad kunne have indflydelse på rate of adoption for et nyt produkt?
Researchers identify five characteristics of innovations that affect the rate of adoption: 1. Relative advantage o Describe the degree to which a consumer perceived that a new product provides superior benefits (291) 2. Compatibility o The extent to which a new product is consistent which existing cultural values, customs and practices 3. Complexity o The degree to which consumers find a new product or its use difficult to understand 4. Trialability o The ease of sampling a new product and its benefits 5. Observability o Refers to how visible a new product and its benefits are to others who might adopt it
Beskriv strategierne for tilføjelse af produkter
- Full line strategy
- Targets many customer segments to boost sales potential
- Limited line strategy
- Fewer product variant, can improve the organizations image if consumer perceive it as a specialist with a clear, specific position in the market
- Downward line stretch
- Augments line by adding items at the lower price-end. And the other way around with upward line stretch
- Filling-out strategy
- Adds sized or styles not previously available in a product category
- Contract
- Reduce the size of a product line particularly when some of the items are not profitable and the complexity of managing them becomes detrimental to the company
- Cannibalization
- Occurs when the new item eats up sales of an existing brand as the firm’s current customers simply switch to the new product • Be aware of this!
Beskriv bredden, længden og dybden af produktmixet
Width : Number of different product lines carries by the company. Length : Total Number of items in the product line. Depth : Number of version offered of each product in the line.
Hvad er Total Quality Management (TQM)?
Total quality management (TQM) > business philosophy that calls for company-wide dedication to the development, maintenance and continuous improvement of all aspects of the company’s operations • TQM maximizes external customer satisfaction by involving all employees regardless of their function in efforts to continually improve quality • Six sigma model: refers to six standard deviations from a normal distribution o This increase in performance and decrease in process variation helps lead to defect reduction and improvement in profits, employee morale, and quality of products or services
Beskriv produktets livscyklus
Product life cycle: A useful way to explain how product features change over the life of a product • Product marketing strategies must evolve and change as they continue through the product life cycle 1. Introduction stage 2. The growth stage 3. The maturity stage 4. The decline stage
Hvad karakteriserer en service?
Services are characterized by the following features: • Intangibility - it cannot be touched, seen, tasted or smelled • Perishability - services cannot be stored for future usage • Heterogeneity - services are rarely the same because they involve interactions between people • Inseparability - the time of production is very close to or even simultaneous with the time of consumption
Hvad er service dominant logic (SD logic)?
• According to the SD logic customer value is created in co-creation between the seller and the customer in this process the customer becomes a co-producer of the service that is also being consumed • Key account management (KAM) is when teams are organized around a key or global customer to work with the supplier to produce joint solutions to problems and joint value for both organizations
Hvad er en full service kontrakt?
• Full service can be defined as: a comprehensive bundle of products and/or services, that fully satisfies the needs and wants of a consumer related to a specific event or problem • Bundling strategy: does the supplier firm bundle its products or services? Within this component three types are distinguished: o pure components (unbundled offer) o mixed bundling (components are available in a bundled as well as unbundled offer) o pure bundling (components are only available in a bundled offer) • Extension in need fulfillment: this component comprises the extent to which consumer needs are satisfied by the supplier firm; the three levels of consumer need fulfillment is single, extended and total
