introduction to management—ch13讲义教材.ppt

Product and pricing Strategies Chapter 13 Background of products Product line A set of related products or services offered by a single firm A product line tends to expand over time as a firm recognizes other consumer needs. Product mix The assortment of products offered by a firm Most firms tend to expand their product over time as they identify other consumer needs or preferences. Diversify the product mix A common diversification strategy is for a firm to diversify products within its existing production capabilities. A Target market Target market A group of individuals or organizations with similar traits who may purchase a particular product Consumer markets Markets for various consumer products and services ( such as cameras, clothes, and household items) Industrial markets Markets for industrial products that are purchased by firms ( such as plastic and steel) Common traits used to describe a target market are the consumer’s gender, age, and income bracket. Factors affected a target market Demographics人口统计资料 Characteristics of human population or specific segments of the population Geography The total demand for a product is also influenced by geography. Southern V.S. Northern Economic factors As economic conditions change, so do consumer preferences. Interest rates can also have a major impact on consumer demand. Social values Preferences Creating new products Obsolete Less useful than in the past Fashion obsolescence No longer in fashion/style Technological obsolescence Inferior to new product Technology updating Create new products Marketing research Accumulation and analysis of data in order to make a particular marketing decision To obtain more insight on what consumers want One limitation is that tastes change rapidly. Research and development Firms invest funds in research and development to design new products or to improve the products they already produce. Patents to protect RD Allow exclusive rights to the production and sale of a specific produ