Please enable JavaScript.
Coggle requires JavaScript to display documents.
PRINCIPLE OF MARKETING PRODUCT (Ansoff Matrix (1. Market Penetration …
PRINCIPLE OF MARKETING
PRODUCT
What is Products
1. Goods
- Things that we can touch, see, hold, smell, etc...
2. Services
- Items that we derived utility from receiving a services
3. Money
- Money can be bought and sold.
Product Life Cycle
4 Stages : Introduction, Growth, Maturity, Decline
X-Axis : Introduction, Growth, Maturity, Decline
Y-Axis : Products sales in Volume
1. Introduce
- Researching, developing then launching product
2. Growth
- When sales are increasing at their fastest rate.
3. Maturity
- Sales are near their highest, but the rate of growth is slowing down.
4. Decline
- When sales begin to fall.
PLC
1. Introduction
Characteristics 特点
Low Sales - Product not famous
Negative profits
Innovators are targeted
Little competition - product not famous yet.
Strategies 策略
Product - Offer the basic
Price - Use cost plus basis to set
Distribution - Build selective distribution
Promotion - Heavy expenditures to create trial
Advertising - Build awareness among early adopters & dealers
2. Growth
Characteristics 特点
Rapidly rising sales
Average cost per customer
Rising profits
Growing competition
Strategies 策略
Product - Offer extensions service, warranty
Price - Affordable price
Distribution - Build intensive distribution
Promotion - Reduce expenditures to take advantage of consumer demand
Advertising - Build awareness & interest in the mass market
3. Maturity
Characteristics 特点
Sales peak
Low cost per customer
High Profit
Competition begins to decline
Strategies 策略
Product - Diversify brand & models
Price - Set to match or beat competition
Distribution - Build more intensive distribution
Promotion - Increase to encourage brand switching
Advertising - Stress brand differences & benefits
4. Decline Stage
Characteristics 特点
Declining Sales
Low cost per customer
Declining profit
Declining competition
Strategies 策略
Product - Phase out weak items
Price - cut price
Distribution - Use selective distribution - Phase out unprofitable outlets
Promotion - Reduce to minimal level
Advertising - Reduce to level needed to retain hard-core loyalists
Ansoff Matrix
4 Stages : Market Development, Diversification, Market Penetration, Product development
X-Axis : Existing Products, New Products
Y-Axis : New Markets, Existing Markets
1. Market Penetration
市场渗透
Definition 定义
Go deeper into an existing market
Offer similar products to similar markets (existing markets)
Marketing Implications 营销影响
Create product awareness
Offer lower pricing @ different options for customer
Intensify promotional efforts 加大宣传力度
2. Market Development
市场发展
Definition 定义
Existing products targeted to a new market
Marketing Implications 营销影响
Identification of new market opportunity
Market survey of potential area
Segmentation required
3. Product Development
产品开发
Definition 定义
Develop a new product for an existing market
Marketing Implications 营销影响
Requires R&D
Understanding of new product requirement from the market (Customer surveys)
4. Diversification
多样化
Definition 定义
New product targeted to new markets
Marketing Implications 营销影响
R&D needed
Understanding consumer buying behaviour in the new market