What Is Markeitng Essay Research Paper MARKETING1L1WHAT — страница 4

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company. Example: Panasonic producing cd roms. vProduct extant ion: A product that is known to the company but new to the market. Example: coca cola 2 liter. WE CAN SAY THAT A NEW PRODUCT IS: vStarting to produce a product. (new product duplication) vResearch and develop a new product. (invention) vSame product and different segment. (product expansion) vRevise or add a product ( product expansion). vRepositioning (change image). USEFUL DEFINETIONS BRAND: A name or a symbol that represents a product. PRODUCT CATEGOTY: The category of a product is the generic class to which the brand belongs. Example: shampoo-asprin-trencolizers. PRODUCT LINE; In the books it refers to a line of offerings with in a product category. But in the practical life it refers to al the products the

company produce. 1L4 WHY NEW PRODUCTS SUCCSSEED? 1.The consumers ?s satisfaction degree. It means to what degree the product matches the consumers needs. 2.The existence of expertise in the company or what is called the know-how. 3.The product has established competitive advantage. 4.An organizational environment that encourages entrepreneur ship. 5.The established new product development process. WHY NEW PRODUCTS FAIL? 1.The poor marketing research and analysis, or the misreading of the consumers needs. 2.The poor product positioning. 3.The poor product performance or quality. 4.The poor competition analysis. ETHICAL ISSUES IN PRODUCTS DEVELOPMENT 1.PRODUCT SAFTY: Control and expenses for safety. Example: food, children toys. 2.PRODUCT PREFOMANCE: Measuring the product

performance, to be sure that the products are up to standard through quality control. We can say that there is a direct link between performance and profitability. 3.PRODUCT INFORMATION: Example: writing the product?s ingredients on the package. FUNCTIONS OF PACKAGING 1.CONTAINTMENT AND PROTECTION: This gives the product its safety and makes it possible to take the product home. 2.CONSUMER APPEAL: Example: shape-size-color-reusable containers (sales promotion ex.la vach ceree cup). This appeal could be your competitive advantage in some cases. Example: milk-mineral water. 3.IDENTIFICATION: This gives the product its personality. Example: trade mark-company name-brand name. The examples give the product its visibility and belonging in the out let. 4.CONVENIANCE: The product

packaging must survive the storage and shipping. Exemple : milk cartons. 5.COMMUNICATE INFORMATION: This gives the consumer the way or directions using the product. Example: macaroni and rice. PRODUCT LIFE CYCLE The life cycle of a product consists of four phases or stages. Introduction, growth, maturity and decline. The marketing strategy to be implemented depends on the phase the product is in. this life cycle helps to understand the position of products more clearly. 1-INTRODUCTION PHASE: I n this phase the new product is introduced in to the market for the first time. The company aims to create awareness and simulating the primary demand. Losses occur in this phase. Phase strategy: vAdvertising role is to stress on information about the product and what does it do. vPromotion

is directed to trade to increase distributors and retailers to carry the product to the market. The goal of the phase: Creating awareness or BRAND ESTABLISHMENT and building a distributing network to make the product available to the consumer. 2-GROWTH PHASE: In this phase the sales volume increase rapidly and the product becomes profitable. The demand consists of first purchase consumers and repurchase consumer. The repurchase consumers make up the sustainability of the product. Also they are the link to the maturity phase. The competition emerges in this phase. The goal of the phase: The goal in the growth phase is the BRAND REINFORCEMENT (repurchase). The company aims to reinforce the brand?s position by getting the consumer who had tried the product to repurchase it and

continue to attract new users. 3-MATURUTY PHASE: In this phase the industrial sales reaches a plateau market saturated. The brand here attracts few new consumers and relives on repurchases. The competition increases and wars between different products starts. Profits diminish and increasing the company sales is on the expense of the competitive sales. In this phase the product differentiation and competitive advantage are very important. The goal of the phase: Brand revitalization, which is the constant try to counter a decreasing product or market share. Strategies to be implemented in the maturity phase 1.Market expansion: It means finding new users and new uses. Example for new users for the product: J&J [from children to adults]-COMPAG [from bissness to bissness computers