【市场营销英文版】13ProductStrategy

【市场营销英文版】13ProductStrategyProductStrategyProductStrategyDefinition:ProductAproductisanythingthatcanbeofferedtoamarkettosatisfyawantorneed.Thiscaninclude:physicalgoods,services,experiences,events,places,properties,organizations,information,andideas.ProductStrategyCustomersusuallyjudgeproductsonthreecriteria:ProductfeaturesandqualityServicesmixandqualityPriceappropriatenessProductStrategyCustomerValueHierarchy:Whenproductsaredeveloped,fivelevelsofvalueoftenareconsidered:CorebenefitBasicproductExpectedproductAugmentedproductPotentialproductProductStrategyCorebenefit:product’sfundamentalserviceorbenefitoffered.Basicproduct:productderivedfromthecorebenefit.Expectedproduct:productwithallofitsattributesandconditionsexpectedbycustomers.Augmentedproduct:productwithallofitsattributesandconditionsthatexceedcustomerexpectations.Potentialproduct:productduringandafteralloftheaugmentationsandtransformationsthatmightoccurinthefuture.ProductStrategyProductClassifications:Marketersusuallyclassifyproductsonthebasisofthreecharacteristics:DurabilityTangibilityConsumer/industrialuseProductStrategyDurability:product’susefullife.Tangibility:aproduct’sdegreeofsubstantive-nessConsumer/Industrialuse:whousesit,consumersorbusinessesProductStrategyOtherimportantmarketingconsiderationsinclude:PackagingLabelingWarrantiesandguaranteesProductStrategyPackaging:Severalfactorshavehelpedpackagingbecomeimportanttomarketers.Theyinclude:Self-servicenaturalofmostretailstoresConsumeraffluenceandthewillingnesstopayalittlemoreTheimportanceofcompanybrandsandimagesOpportunitytoinnovateProductStrategyPackagingmustachieveanumberofobjectives,including:IdentifythebrandCommunicatedescriptiveandpersuasiveinfoFacilitateproducttransportationandprotectionAssistinhomestorageAidinproductconsumptionProductStrategyAllpackagingelementsmustfitproductpricing,advertising,andothermarketingactivities.Testingpackagingelementsbeforemakingtheproductavailableforsalehasbecomeanormalandnecessaryactivityforbusinesses.ProductStrategyLabeling:Allpackagedproductsrequirelabels.Labelsperformseveralimportantfunctions:Identifytheproductand/orbrandDescribetheproductPromotetheproductProductStrategyLabelsusuallyarenoteternal.Asgenerationspassandsocietieschange,labelsoftenneedtochangedorupdatedinordertocontinueattractingcustomers.ProductStrategyWarrantiesandguarantees:Awarrantyisaformalstatementofexpectedproductperformancebythemanufacturer.Theyarelegallyenforceable.Aguaranteeisapromisetoreduceperceivedriskandprovideassurancethattheproductisdependable.ProductStrategyOfferingwarrantiesandguaranteescanhelpmarketaproduct.Ifextraorextendedwarrantiesareofferedinexchangeforasmallfee,theycanbeprofitabletoo.However,becareful.Overpromisingandunderdeliveringthroughwarrantiesandguaranteescanbeabigmoneyloser.ProductStrategyNewProductsWhatisanewproductforacompany?Itisaproductthathasbeenacquiredfromanothercompanyordevelopedbythecompanyitself.ProductStrategyNewProducts:SixCategoriesNew-to-the-worldproductsNewproductlinesAdditionstoexistingproductlinesImprovementsandrevisionstoexistingproductsRe-positioningCostreductionsProductStrategyMostnewproductsfail.Reasons:Market/marketingfailure(smallsizeofthepotentialmarket,noclearproductdifferentiation,poorpositioning,misunderstandingofcustomerneeds)Financialfailure(lowinvestmentreturn)Timingfailure(toolateortooearly)Technicalfailure(productdidnotwork,baddesign)Organizationalfailure(didnotfitwellwithorganizationalculture,lackofsupport)Environmentalfailure(governmentregulations,macroeconomicfactors)ProductStrategyNewproductdevelopment,stages:IdeagenerationIdeascreeningConceptdevelopmentandtestingMarketingstrategydevelopmentBusinessanalysisProductdevelopmentMarkettestingCommercializationProductStrategyMostproductshavelifespans,meaningtheycanbemarketableforweeksordecades,butatacertainpointintimeinthefutureconsumerswillnolongerbeinterestedintheproductandbuyit.Theselifespansoftenarereferredtoastheproductlifecycle.Howacompanypositionsanddifferentiatesaproductduringthislifespanshouldchangeovertime,dependingatwhichlifecyclestagetheproducthasentered.ProductStrategyProductLifeCycleStages:IntroductionstageGrowthstageMaturitystageDeclinestageProductStrategyAproduct’slifecyclestageoftenwillhelpdeterminewhatwouldbethebestmarketingobjectivesandstrategiestofollow.Thefollowingtablesgiveinformationandsuggestionsaboutproductsateachlifecyclestage.ProductStrategyCharacteristicsIntroductionGrowthMaturityDeclineSalesLowsalesRapidlyrisingsalesPeaksalesDecliningsalesCostsHighcostpercustomerAveragecostpercustomerLowcostpercustomerLowcostcustomerProfitsNegativeRisingprofitsHighprofitsDecliningprofitsCustomersInnovatorsEarlyadoptersMiddlemajorityLaggardsCompetitorsFewGrowingnumberStablenumberbeginningtodeclineDecliningnumberProductStrategyMarketingObjectivesIntroductionGrowthMaturityDeclineCreateproductawarenessandtrialMaximizemarketsizeMaximizeprofitwhiledefendingmarketshareReduceexpenditureandmilkthebrandProductStrategyStrategiesIntroductionGrowthMaturityDeclineProductOfferbasicproductOfferproductextensions,serv