MKT 100 Lecture Notes - Lecture 9: Oscar Mayer, Sodium Bicarbonate, Shampoo

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Katie Lebel

Document Summary

Tools for instructors: learning objectives, annotated chapter outline with instructor"s notes/teaching tips, answers to end of chapter learning aids. Chapter 8 will focus on developing new products. These questions are the learning objectives guiding the chapter and will be explored in more detail in the following slides. Lego has become one of the top toy manufacturers in the world, introducing new sets and variations on its basic theme. Lego had come to violate one of its basic principles, in that its toys appealed widely to boys but not specifically to girls. Changing customer needs: as they add new products, firms can satisfy the changing needs of current and new customers, customers get bored with products, companies find opportunities to extend a brand into new categories. Market saturation: the longer a product exists in the marketplace, the more likely the market becomes saturated. Without new products, the value of the firm ultimately declines.