ECON344 Lecture Notes - Lecture 5: Experience Curve Effects, Marketing Channel, Loss Leader
20 Sep 2017
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Main point to win or successful product= significant point of difference. Protocol= well developed statement with: target market, customer needs, ands and preferences. 2/ what product it will be and do to satisfy customers. New product process: new-product strategy development (focus)- how mich cost ect. Six sigma= near perfect (based on data ) Lead users = want new products before everyone else: idea generation- (pool of concepts )most difficult. Internal approach (if it meetings new product strategy dev step) External approach- concept test= preliminary testing of product idea: business analysis (involves specifying the features of the product and the marketing strategy needed to commercialize it and making necessary financial projections. ) Before it becomes a prototype( model of product: development. 1. standard test markets expensive cause gotta make it look realistic: controlled test markets outside contract. 3. stimulated test markets ( save money and time) mall test. Regional rollouts ( put products in some places) Slotting fee- fee to put shhit on shelves.
