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Lecture

MKTG 317 Feb, 2013.docx

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Department
Marketing
Course
MKTG 317
Professor
D.Lynne Ricker
Semester
Winter

Description
MKTG Oct, 16, 2012 Product Life Cycle: Market Introduction,Market growth: still learning about the industry. Market maturity: maximum sales, starts to go down at the end of the stage due to more competitors in the industry. Price competitive by lowering pricesSales decline: (total industry sales total industry profit). Products / Companies in: (look at technology and Toys) Market Introduction: -3D TB’s Sales decline: -Paper based books -CD-Roms PLC- Curves: -Traditional -Classic -Fad: Olympic memorabilia -Extended Fad -Seasonal or Fashion: sporting goods, sunscreen, and bathing suits, 20-year fashion cycle. -Revival: toys and music -Bust: laser disc players, orbits soft drink PLC And Innovation: -Intro and Growth Stages of PLC are getting shorter  Innovation And technology are main reason MKTG Oct, 16, 2012  Many companies are driven to constant new product introduction -An important factor cannot be ignored:  Consumer needs: Example. Music players Diffusion of Innovation: -Diffusion describes how the use product spreads throughout a population  Innovators 2.5%  Early Adopters 13.5%  Early Majority 34%  Late Majority34%  Laggards 16% Rate of Adoption Factors: -Complexity:  Degree of difficulty in understanding new products -Compatibility:  Degree to which new product is compatible with existing values, past experience, etc. -Relative Advantage:  Degree to which a product us perceived to be superior to existing substitutes -Observability:  Degree to which benefits can be observed and communicated tot target market -Trialability:  Degree to which a product can be tried on trial basis RoA example: -Complexity:Cloud computing -Relative advantage: Observability: HD TV comparing HD picture vs SD picture. Trialability: sampling in grocery stores Services: -Services are activities or benefits that are of
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