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Lecture 5

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


Department
Marketing
Course Code
MKT 300
Professor
Armand Gervais
Lecture
5

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MKT 300
Lec 4 (Feb 23) – Product and Porolio Mgmt
MT 40 quesons
o50% content 2 marks (should do under 30 mins)
o50% metrics 3 marks (3-4 mins each)
o100 minutes
Innovators dilemma
oToo focused on product, not innovang, not following the customers wants (Nokia,
Blackberry failed to innovate)
oRisk of making changes, may be caught up in innovaon and forget customers
Blue Ocean Strategy
oNintendo Wii – created easy gaming for families, PS4 and XBOX are too complicated
o
Consumer Adopon Cycle
o
oInnovators
oEarly adopters
oEarly majority
oLate majority
oLaggards
Product life cycle
o
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o
oElectric cars (early adopters) – too long charge me, hassle, expensive, no staons
Strategies for extending Product Life Cycle
oDevelop new uses
oModify product
oIncrease frequency of use
oIncrease # of users
oFind new users
oReposion product
oTweak markeng strategy
Tide pods, ppl use exact amount, 30% more $, laundry sales went down
Stages in producon life cycle
o
Brand por<olios vs Product lines
o
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