MKTG6004 Lecture 12: 12
15 Aug 2018
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Document Summary
Product protocol: after the go/no go decision has been made (after full screen) the product protocol is developed which is a detailed description of the new product. Considerable negotiation often occurs at this stage as different views of the product emerge. They are also called product requirements, definitions and specifications. The first general purpose of the protocol is to specify what each department will deliver to the final product that the customer buys (deliverables). Proto(cid:272)ol"s spe(cid:272)ifi(cid:272) (cid:272)o(cid:374)te(cid:374)t: target market: target market is known well at this stage. Perceptual mapping will shed light on their specific needs. Once selected each target market should be described/profiled. Strategic decision to find a gap in the market or be strongly associated with a key benefit. State the target market and describe on what basis the product is different from what competitors offer. It describes how the consumer understands the product.
