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Topic F - Product Strategy - Coggle Diagram
Topic F - Product Strategy
Product life-cycle strategies
Growth stage
Maturity stage
Introduction stage
Decline stage
Product Development stage
New Product Development Process
Business analysis
Product development
Marketing strategy development
Test marketing
Concept development and testing
Launch
Idea Screening
Idea Generation
Levels of the product
actual
It is what the customer is actually getting.
augmented
It is the additional services and benefits customers recieve.
core
what the customer is buying the product for and refers to the need that the product is satisfying.
Goods and Service Classifications
Consumer Products
Shopping Products
furniture,clothes
Speciality Products
cars, designer clothes
Convenience Products
fast-food, laundry
Unsought Products
life insurance, blood donations
Industrial Products
Materials and Parts
raw materials and manufactured materials and parts
Capital Items
installations and accessory equipment
Services
operating supplies and repair and maintenance
Product and Service Decisions
Product line decisions
Stretching
Filling
Product mix decisions
length
depth
width
consistency
Individual product decisions
Branding
to identify and differentiate the product
Product and Service Attributes
quality,style and design,features
Packaging
the wrapper/ container must be distinct, protect,convenient, associate ,has particular characteristics and environmentally friendly
Labelling
identifies, grades and describe the product
Product Support Services
after-sales services
The Nature and Characteristics of Service
Perishability
service cannot be stored for later use
Variability
The quality of services depends on who provides them.
Intangibility
service cannot be readily displayed,seen,tasted, heard or tried before they are bought.
Inseperability
services cannot be separated from their providers
*
Non-ownership
The service isn't owned
Brand Equity
the differential effect that knowing the brand name has on customer response to the product or its marketing and it is a measure of the brand's ability to capture consumer preference and loyalty.
Building Strong Brands
Branding
Protection
Name Selection
Brand Sponsorships
Company Brand Name (manufacturer's /private brand)
Licensing
Co-Branding
Brand Positioning
Benefits
Benefits and Values
Attributes
Brand Development
Brand Extensions
Multi Brand
Line Extensions
New brands