MKT 300 Lecture Notes - Lecture 5: Blue Ocean Strategy, Coca-Cola Cherry, Cold Cream

• School: Ryerson University
• Department: Marketing
• Course: MKT 300
• Professor: Armand Gervais

Document Summary

Lec 4 (feb 23) product and portfolio mgmt. Mt 40 questions: 50% content 2 marks (should do under 30 mins, 50% metrics 3 marks (3-4 mins each, 100 minutes. Innovator"s dilemma: too focused on product, not innovating, not following the customers wants (nokia, Blackberry failed to innovate: risk of making changes, may be caught up in innovation and forget customers. Blue ocean strategy: nintendo wii created easy gaming for families, ps4 and xbox are too complicated o. Consumer adoption cycle o: innovators, early adopters, early majority, late majority, laggards. Product life cycle o o: electric cars (early adopters) too long charge time, hassle, expensive, no stations. Tide pods, ppl use exact amount, 30% more $, laundry sales went down: develop new uses, modify product, increase frequency of use, increase # of users, find new users, reposition product, tweak marketing strategy.