BU121 Lecture Notes - Lecture 8: Product Classification, Leading Edge, Promotional Mix
Document Summary
Convince the customer that the product provides that unique benefit through product, pricing, promotion, and distribution/place decisions . These decisions will affect the left side of the bmc. An integrated/consistent system of activities to convince the customer of the unique benefit. Classifying consumer products vs classifying business products: how the consumers view the product, their buying actions, tell us how we should sell the products/services, impacts on how sold your marketing strategy. The product might be at introduction, but the market might be at a different stage. Has huge implications: strategies at different stages, altering the speed of the cycle. Slowing down new uses and users. Think about different products you will introduce over time. During decline come up with other variations. Objectives and strategies: (breakeven) price floor". Intensity of distribution related to product classification : how are we going to distribute our product depending on product classification. Factors affecting the mix: push vs pull related to distribution/place.
