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Product Strategy - Coggle Diagram
Product Strategy
Brands
Brand value
Building strong brands
Step 2: Brand name selection
Step 3: Brand sponsorship
Manufacturers' brands VS store brands
Co-branding
Licensing
Step 1: Brand positioning
Step 4: Brand development
Multi-brands
New brands
Brand extensions
Line extensions
Brand equity
Managing brands
Product life-cycle Strategies
Product life-cycle Process
Step 3: Growth stage
Step 4: Maturity stage
Step 2: Introduction
Step 5: Decline stage
Step 1: Product development
Style
Fashion
Fad
Goods
Levels of product
Actual product
Core Customer Value
Augmented product
Product and service classification
Consumer products
Shopping Products
Speciality Products
Convenience Products
Unsought Products
Industrial products
Material and Component
Capital and Accessory
Supplies and Services
Organisation, persons, places and ideas
Product and service decisions
Product line decisions
Product line length
Ways how to increase profits
Line filling
Line stretching
Product mix decisions
Example: Benna
Five main product lines
Yoghurt
Cheese
Butter
Cream
Milk
Four important dimensions
Width
Length
Depth
Consistency
Individual product decision
Product and service attributes
Product quality
Product features
Product style and design
Branding
Packaging
Labelling and Logos
Product support services
Services
Four main factors of services
Inseparability
Intangibility
Variability
Perishability
Marketing strategies for service firms
The service profit chain
Five links that make up the profit chain
Greater service value
Satisfied and loyal customers
Satisfied and productive service employees
Healthy service profit and growth
Internal service quality
Service firms also require three main types of marketing
External marketing
Interactive marketing
Internal marketing
Three major marketing tasks
Increase service quality
Increase service quality
Increase service differentiation
Three solutions to solve the price problem
Develop a differentiated delivery
Develop a differentiated image
Develop a differentiated offer
New Product Development Strategy
New product development process
Marketing strategy development
Business analysis
Concept development and testing
Concept testing
Concept development
Product development
Idea screening
Test marketing
Idea generation
External idea sources
Crowdsourcing
Internal idea sources
Commercialisation
Managing New Product Development
Team-based new product development
Systematic new product development
Customer-centred new product development