chap010
TRANSCRIPT
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CHAPTERCHAPTER
THE PRODUCT EXPERIENCE: PRODUCT STRATEGY
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Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reservedMcGraw-Hill/Irwin
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LEARNING OBJECTIVES
Understand the essential role of the product experience in marketing
Define the characteristics of a product
Recognize how product strategies evolve from one product to many products
Understand the life of a product and how product strategies change over time
10-2
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PRODUCT CHARACTERISTICS
Define the Product
◦ Essential Benefit
◦ Core Product
◦ Enhanced Product
10-3
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FOUR PRODUCTS AND THEIR ESSENTIAL BENEFITS
10-4
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DEFINING THE PRODUCT AT SOUTHWEST AIRLINESEXHIBIT
10.2
Enhanced ProductExperiences exceed minimum expectations
Frequent flyer programsReserved seating
Core ProductOn time
SafeExperience matches expectations
Essential Benefit
Moving from PointA to Point B
10-5
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PRODUCT CLASSIFICATIONS
Tangibility – physical aspects of the product experience
Durability – product usage
10-6
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PRODUCT CLASSIFICATIONS
Consumer Goods
Convenience
Goods
Shopping Goods
Specialty Goods
Unsought Goods
10-7
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PRODUCT CLASSIFICATIONS
Business Goods
Materials Parts
MRO Supplies
Capital Goods
10-8
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PRODUCT DISCRIMINATION: CREATE A POINT OF DIFFERENTIATION
FormFeatur
es
Performance
Quality
Conformance
QualityDurability
Reliability
Repairability
Style
10-9
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PRODUCT PLAN: MOVING FROM ONE PRODUCT TO MANY PRODUCTS
Product Line
Product Mix
10-10
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PRODUCT DECISIONS AFFECT OTHER MARKETING MIX ELEMENTSPricing
Marketing Communications
10-11
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THE LIFE OF THE PRODUCT: BUILDING THE PRODUCT EXPERIENCE
Product Life Cycle
◦ Product Life Cycle Sales Revenue and Profitability
◦ Product Life Cycle Timeline
◦ Product Life Cycle Caveats
10-12
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THE PRODUCT LIFE CYCLEEXHIBIT 10.12
Reprinted from Roger Kerin, Steven Hartley and William Rudelius, Marketing 9E, 2009.
10-13
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PRODUCT LIFE CYCLE
Introduction Phase
Market Conditions
10-14
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PRODUCT LIFE CYCLE
Growth Phase
Market Conditions
10-15
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PRODUCT LIFE CYCLE
Maturity Phase
◦ Phase defined by the sales growth of the product category
1. Relative Market Expansion
2. Market Stability
3. Market Deterioration
10-16
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PRODUCT LIFE CYCLE
Maturity Phase
Market Conditions
10-17
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PRODUCT LIFE CYCLE
Decline Phase
Market Conditions
10-18
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