Professional Documents
Culture Documents
Strategic
situation
analysis
Implementing
Designing and managing
marketing marketing
strategy strategy
Marketing
program
development
Planning for New Products. New products are needed to replace old
products because of declining sales and profits. Strategies for developing
and positioning new market entries involve all functions of the business.
Closely coordinated new-product planning is essential to satisfy customer
requirements and produce products with high quality at competitive prices.
New-product decisions include finding and evaluating ideas, selecting the
most promising for development, designing the products, developing
marketing programs, use and market testing the products, and introducing
them to the market.
The new-product planning process starts by identifying gaps in
customer satisfaction. The differences between existing product attributes
and those desired by customers offer opportunities for new and improved
products.
Positioning
Strategy
Price
Strategy
Exhibit 1.2 Positioning Strategy Development
Strategic Brand Management. Products (goods and services) often are the
focal point of positioning strategy, particularly when companies or business
adopt organizational approaches emphasizing product or brand management.
Product strategy includes: (1) developing plans for new products, (2)
managing programs for successful products, and (3) deciding what to do
about problem products (e.g., reduce costs or improve the product). Strategic
brand management consists of building brand value (equity) and managing
the organization’s portfolio for overall performance.