L2 Basics of Product Strategy产品策略.docVIP

Product Strategy ● Learning Goals 1) Explain the marketing conception of a product and list the components of a product strategy. 2)Describe the classification system for consumer and business goods and services. 3)Distinguish between a product mix and a product line 4)Identify and briefly describe each of the four stages of the product life cycle. 5)List the stages of the new-product development process 6)Explain how firms identify their products Product strategy The creation of new products is the lifeblood of an organization. [Since products do not remain economically viable forever, new ones must be developed to ensure the survival of an organization.] ●classifications of goods and services ●product lines and product mix ●product life cycle ●product identification [through brand names and distinctive packaging] ● Product strategy What is a product? [a bundle of physical, service, and symbolic attributes/designed to satisfy consumer wants] What is product strategy? [involves considerably more than just producing a good or service ; focuses on benefits] It includes decisions about: ●package design ●brand name, trademarks ●warranties ●product image ●new product development ●customer service e.g. Your favorite soft drink Do you like it for its taste alone, or other attributes such as clever ads, attractive packaging, ease of purchase from vending machines and other convenient locations, and overall image? [Other attributes than taste may influence your choice more than you realize.] Classifications of goods and services [Depending on the purchasers of the particular item: B2C, B2B] ● classifying consumer goods and services [purchased for consumers’ own use and enjoyment and not for resale] Based on consumer buying habits [of the majority of purchasers] Convenience products: items that the consumer seeks to purchase frequently , immediately, and with little effort, usually items stocked in 7-eleven, vending machines, and local newsstands, e.g. Newspapers, chewing