The seven stages of product development are development the ideas, screening, concept testing, business analysis, prototype development, test marketing, & commercialization. Very few ideas for new products survive to the commercialization stage.
When new products are launched, they have a life cycle that begins with their introduction & progresses through stages of growth, maturity, & decline Revenues rise through the early growth period; sales rise through the late maturity period. In terms of the growth -share matrix, this progression appears as a product moves from questions mark to star to cash cow to dog.
Each product is given a visible identity by its brand & the way it is packaged & labeled. National, licensed & private brands are developed to create brand loyalty. Packaging provides an attractive container & advertises the product. The label informs the consumer of the package contents. The pricing of the product will determine its business success, depending on the business objectives that are being sought. Profit maximization, market share, & other business objectives may be relevant to the pricing decision. Economic theory, cost-oriented pricing, & break-even analysis are tan used as tools in determine prices.
Pricing also involves choices of a basic pricing strategy can be used for new products. Existing products may be priced at, above, or below prevailing prices for similar products, depending on the other elements in the marketing mix. Within a firm’s pricing strategies, managers set prices using tactics such as price lining, psychological pricing, & discounting.
PLAN
Promotional Objectives, Strategies, & Tools
Promotional Objectives
Promotional Strategies
Picking the Right Tools for the Promotional Mix
Advertising Promotions
Advertising Strategies
Advertising Media
Types Advertising
Advertising to Specific Markets
Regulation of Advertising
Personal Selling Promotions
Types of Personal Selling Situations
Personal Selling Tasks
The Personal Selling Process
Sales Promotions
Types of Sales Promotions
Publicity & Public Relations Promotions
Small-Business Advertising
Small-Business Personal Selling
Small-Business Sales Promotions
Small-Business Publicity
Distributing Goods & Services
Developing & Pricing Products
MANAGING MARKETING
(Promoting Goods & Services)
To Dr. Zavadovskiy
by Goubanova Galina
Marketing
21may1999
BIBLIOGRAPHY
Principles of Marketing Philip Kotler
Gary Armstrong
2.The practice of Marketing Kenneth E. Runyon
Business Ricky W. Griffin
Marketing Patrick E. Murphy
Ben M. Enis
Marketing Management ( A Strategic Approach)
Harper W. Boyd, Jr
Orville C. Walker,Jr