MRKT 452 Lecture Notes - Lecture 9: New Product Development, Alarm Clock, Unconscious Mind
11 Jun 2018
School
Department
Course
Professor
Creativity)in)Business)-how$can$we$design$creative$advertising/new$products
Coming'up'with'an'idea'that'is:
New$=$not$seen$before
•
Useful$=$beneficial$to$the$customer
Who$is$the$customer
○
What$does$the$customer$need
○
How$does$my$product$satisfy$customer$needs
○
•
Importance
Advertising$=$create$effective$advertising$to$stand$out$and$convey$
benefits$to$customers
○
New$product$development$-requires$market$research$(consumer$
needs,$consumer$lifestyle,$consumer$attribute$importance)
Create$new$category$=$helps$firms$increase$sales
§
Modify$existing$category$-e.g.$flying$alarm$clock,$toning$legs,$self-
opening$tent,$etc.
§
○
Increasing)Creativity
Interest$in$Product$-e.g.$should$you$work$for$love$or$money?$Difficult$to$be$
creative$without$love$(interest)$which$will$reflect$in$the$quality$of$your$work$
and$affect$your$performance$ratings
Self-Rated$Interest
○
Annual$Performance$Review
○
1.
Knowledge$about$Product
Market$Research
○
Incubation$Period$(before$it$can$manifest$into$creative$ideas)$=$"sleep$
over$it"
○
E.g.)2-3$day$brainstorming$where$the$unconscious$(creative)$brain$can$
work$without$interference$from$the$conscious$brain
2.
Moderate$Time$Pressure
Research$Study$=$e.g.$product$design$competition
○
"Moderate"$Time$is$Determined$by:
Complexity$of$Product
§
Size$of$Team
§
○
2$day$minimum$=$at$least$1$overnight$to$allow$unconscious$mind$to$
work$without$interference
○
3.
Innovation)-how$can$we$successfully$launch$creative$new$products
Attitude)under)High)Effort
How$people$mentally$combine$attribute$information$into$attitudes
○
Important$attributes$for$new$products$=$relative$advantage$(more$=$
positive),$use$innovativeness$(more$=$positive),$price$(more$=$negative),$
switching$costs$(more$=$negative),$trial$ability,$and$complexity
○
==>$Using)Framing: Weight$Negative$>$Positive
===>$ If$both$positive$and$negative$attributes$are$present$=$negatives$>$
positives$=$resistance$to$innovations$is$generally$high
Improve)Attitude
Highlight)Positives
Advertising$=$illustrate$the$benefit$visually
§
Product$Trial$=$e.g.$test$iPhone$in$a$mall,$play$Wii$in$the$airport,$
etc.
§
○
Minimize)Negatives
Price$=$use$penetration$pricing$for$new$products
§
Complexity$=$e.g.$touch$screen,$apps,$etc.
§
○
Reduce)Attitude-Behavior)Gap
Gap$arises$due$to$budget,$purchase$cycle,$and$competition
○
Implementation)Method
Intentions$to$Vaccinate$vs.$Action$Taken$Vaccinated$on$Flu$
brochures
§
At$Ikea,$shopping$bags$are$always$available$=$reduces$attitude-
behavior$gap$for$shopping
§
○
Behavior)Consistency
Attitude$=$like$using$condoms$(advertising)$vs.$Behavior$=$actually$
using$condoms
§
==>$Related$Behavior$=$make$an$AIDS$prevention$film
Using$consistency$norm$=$"get$someone$do$a$small$action,$later$
they$are$more$likely$to$do$a$bigger$action"
§
○
Creativity)&)Innovation
Monday,$5$February$2018
11:44$PM
