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PRINCIPLES OF MARKETING
Chapter 9
New Product Development
and
Product Life-Cycle Strategies
9-2
9-3
9-4
Market Size
Product Price
Development Time & Costs
Manufacturing Costs
Rate of Return
9-5
9-6
9-7
If No, Eliminate
Product Concept
If Yes, Move to
Product Development
9-8
Standard
Test Market
Full marketing campaign
in a small number of
representative cities.
Controlled
Test Market
A few stores that have
agreed to carry new
products for a fee.
Simulated
Test Market
Test in a simulated
shopping environment
to a sample of
consumers.
9-9
9-10
Sales and
Profits ($)
Sales
Profits
Time
Product
Development
Losses/
Investments ($)
Introduction
Growth
Maturity
Decline
Low sales
Costs
Profits
Negative
Create product awareness
and trial
Marketing Objectives
Product
Price
Use cost-plus
Distribution
Advertising
9-11
Sales
Costs
Profits
Rising profits
Marketing Objectives
Product
Price
Distribution
Advertising
9-12
Sales
Peak sales
Costs
Profits
High profits
Marketing Objectives
Product
Price
Distribution
Advertising
9-13
Sales
Declining sales
Costs
Profits
Declining profits
Marketing Objectives
Product
Price
Cut price
Distribution
Advertising
9-14