Understanding business
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Developing and Pricing Goods and Services
![DEVELOPING VALUE * * Product Development and the Total Product Offer ,[object Object],[object Object],[object Object],LG1 14-](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
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Understanding business
- 1. * * Main Developing and Pricing Goods and Services Copyright © 2010 by the McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin
- 25. The NEW PRODUCT DEVELOPMENT PROCESS * * The New Product Development Process LG5 14-
- 29. SALES and PROFITS DURING the PRODUCT LIFE CYCLE * * The Product Life Cycle LG6 14-
Notas del editor
- See Learning Goal 1: Describe a total product offer.
- See Learning Goal 1: Describe a total product offer. “Untouchable” Spending Cuts This slide profiles some of the goods and services people do not eliminate during a recession. Ask students: Why are the items listed on the slide “untouchables”? To further the discussion ask students: What items do they deem to be “untouchable” and why?
- See Learning Goal 1: Describe a total product offer. “ Expendable” Spending Cuts This slide shows the flipside of the previous slide and lists items that people are most likely to eliminate. Ask students to get into groups and discuss: Why are these items “expendable,” but the items on the previous slide are “untouchable”?
- See Learning Goal 1: Describe a total product offer. The total product offering includes tangible as well as intangible benefits.
- See Learning Goal 1: Describe a total product offer.
- See Learning Goal 1: Describe a total product offer. To give students a visual of the products offered by Proctor and Gamble, use their website at www.pg.com and click on the products tab.
- See Learning Goal 2: Identify the various kinds of consumer and industrial goods.
- See Learning Goal 2: Identify the various kinds of consumer and industrial goods. Location, brand awareness, and image are important in marketing these goods and services.
- See Learning Goal 2: Identify the various kinds of consumer and industrial goods. Brand name, price, and quality differences are important in marketing these goods and services.
- See Learning Goal 2: Identify the various kinds of consumer and industrial goods. Purchasers of the items listed on this slide are brand insistent and refuse to accept substitutes.
- See Learning Goal 2: Identify the various kinds of consumer and industrial goods. Unsought goods and services often rely on personal selling or specialty advertising - like the yellow pages.
- See Learning Goal 2: Identify the various kinds of consumer and industrial goods. Identifying Consumer Goods Classifications: Beautyrest mattress - shopping good Honda Accord - shopping good McDonald’s Big Mac - convenience good Rolls Royce automobiles - specialty good Oreo Cookies - convenience good Harvard University degree - specialty good
- See Learning Goal 2: Identify the various kinds of consumer and industrial goods. Odd Product Ideas Not all successful products necessarily make sense. Take for example the products mentioned on this slide. To start a discussion on odd product offerings: Ask students to give examples of odd products that were successful or unsuccessful. For more examples of odd products that were not successful go to http://www.guidespot.com/guides/ridiculous_stupid_products_inventions.
- See Learning Goal 2: Identify the various kinds of consumer and industrial goods.
- See Learning Goal 3: Summarize the functions of packaging.
- See Learning Goal 3: Summarize the functions of packaging.
- See Learning Goal 4: Contrast brand, a brand name, and trademark and show the value of brand equity. Recognized trademarks include the Nike Swoosh, the Pillsbury Doughboy, and Apple’s Apple.
- See Learning Goal 4: Contrast brand, a brand name, and trademark and show the value of brand equity. Origins of Automobile Symbols This slide presents the origins of car symbols. Ask the students: How important is the name and symbol of a product? What aspects should be considered in the naming process? ( Most students should suggest that the name of your product is very important, because it represents your company, tells the customers what the product is, and it should mean something.) Given that there are so many models of cars in so many different countries, naming cars becomes a very complex process. Should only one name be used in all countries or different names for the same model in different countries?
- See Learning Goal 4: Contrast brand, a brand name, and trademark and show the value of brand equity. Manufacturers’ brand examples - Ford, Microsoft, Xerox Dealer brand examples - Kenmore from Sears
- See Learning Goal 4: Contrast brand, a brand name, and trademark and show the value of brand equity.
- See Learning Goal 4: Contrast brand, a brand name, and trademark and show the value of brand equity. Example Coca-Cola and Ziploc have strong brand equity.
- See Learning Goal 4: Contrast brand, a brand name, and trademark and show the value of brand equity.
- See Learning Goal 4: Contrast brand, a brand name, and trademark and show the value of brand equity.
- See Learning Goal 5: Explain the steps in the new product development cycle. Green Ketchup and New Coke are two of the many thousands of products that failed. New product failure is common due to the fact that companies fail to properly manage the new product development process.
- See Learning Goal 5: Explain the role of brand managers and the steps of the new-product development process.
- See Learning Goal 5: Explain the role of brand managers and the steps of the new-product development process.
- See Learning Goal 6: Describe the product life cycle.
- See Learning Goal 6: Describe the product life cycle.
- See Learning Goal 7: Identify various pricing objectives and strategies.
- See Learning Goal 7: Identify various pricing objectives and strategies.
- See Learning Goal 7: Identify various pricing objectives and strategies. When Apple introduced the iPhone, they used a skimming price strategy. The everyday low pricing or EDLP has been effectively used by Wal-Mart to dominate the retail sector.
- See Learning Goal 7: Identify various pricing objectives and strategies.