Create the Product 08 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
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Create the ProductCreate the Product
08
Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Value Proposition
Make Marketing Value Decisions
Understand Consumer Value Needs
Create Value Proposition
Communicate Value Proposition
Deliver Value Proposition
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What is a Product?
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Goods
Intangibles
AUGMENTED
PRODUCT
warranty, delivery, support website
Honda lawnmower
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CORE PRODUCT
ACTUAL
PRODUCT
Lawn that neighbors envy
Layers of a Product
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Classifying Products
DURABLES
NONDURABLES
Consumer Product Classification
CONVENIENCE
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SHOPPING
SPECIALTY
UNSOUGHT
Convenience Product
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Shopping Product
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Specialty Product
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Unsought Product
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Business Product Classification
EQUIPMENT
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MRO PRODUCTS
RAW MATERIALS
PROCESSED MATERIALS
COMPONENT PARTS
Equipment
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MROProduct
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Raw Materials
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Processed MaterialCopyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Component PartsCopyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Innovation
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Technological Change
Beh
avio
ral C
hang
e
Types of innovations
Continuous
Discontinuous
DynamicallyContinuous
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continuous innovations
tech
beha
vior
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CHANGE
dynamically continuous innovations
tech
beha
vior
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CHANGE
discontinuous innovations
tech
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CHANGE
beha
vior
New Product Failure
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New Product Development
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New Product Development
idea generation
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1
New Product Development
product concept development
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2
New Product Development
marketing strategy development
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3
New Product Development
business analysis
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4
New Product Development
technical development
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5
New Product Development
test marketing
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6
New Product Development
final commercialization
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7
Diffusion and Adoption
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Diffusionprocess by which a new product or innovation spreads through the population
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Adoptionindividual decision to use/not use an innovation
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Adoption
Awareness
Interest
Evaluation
Trial
Adoption
New Product Buying
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Adopter Categories
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RelativeAdvantage
Trialability
Compatibility
Observability
Complexity
Making an innovation successful
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mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Printed in the United States of America.
Copyright © 2012 Pearson Education, Inc. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice HallPublishing as Prentice Hall
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