1. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 1 Product and Pricing Strategies

2. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 2 Types of Products Stages Product Characteristics

3. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 3 The Product Continuum Goods Products Ideas Services SaltShoesVCRAutoFast Food CruiseConsultingEducationInsurance Tangible Dominant Intangible Dominant

4. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 4 Augmenting the Basic Product Core Benefits Actual Product Brand Name Features Quality Level Design Packaging Augmented Product InstallationWarranty UpgradesAccessories Delivery and Credit After-Sale Service

5. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 5 Characteristics of Service Products IntangibleQualityIntangibleQualityPerishableNaturePerishableNature

6. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 6 Consumer Products SpecialtyProductsSpecialtyProducts ConvenienceProductsConvenienceProducts UnsoughtProductsUnsoughtProducts ShoppingProductsShoppingProducts

7. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 7 Industrial Products Expense Items Capital Items Pencils Printer Cartridges Printer Cartridges Computers Copy Machines Copy Machines Short-Term Long-Term

8. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 8 Products and Their Uses  Raw materials  Components  Supplies  Installations  Equipment  Business services

9. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 9 TimeIntroductionGrowthMaturityDecline In-Flight Internet Service Digital Music Players DVD PlayersVCRs +0 Sales Volume (units) Sales Profits The Product Life Cycle

10. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 10 Product Makeovers Reinvigorated Designs Reinvigorated Designs Refreshed Marketing Efforts Refreshed Marketing Efforts

11. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 11 1.Screening of ideas 2.Business analysis 3.Prototype development 4.Test marketing 5.Commercialization New Product Development

12. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 12 Idea Generation Customers Competitors Employees

13. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 13 Consumer Products Concept Testing Industrial Products Feasibility Study Idea Screening

14. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 14 Business Analysis Forecast Sales Estimate Costs Project Profits

15. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 15 Prototype Development PackagingPackaging Marketing Mix ProductionProduction ResourcesResources

16. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 16 Test Marketing Introduce the Product Monitor Customer Reactions

17. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 17 Commercialization Production Distribution Manufacturing Packaging Distribution Pricing Promotion

18. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 18 Product Identities Legal Protections Unique Name, Symbol or Design Unique Name, Symbol or Design Company or Organization Brand Company or Organization Brand The Product Brand The Product Brand Recognizing Products Specifying Products Marketing Products Valuing Products

19. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 19 Branding of Products EquityName SelectionSponsorship Brand Preference Brand Insistence Brand Loyalty Brand Awareness Trademarks Public Domain Brand Names Brand Marks Generic Products Co-Branding and Licensing Co-Branding and Licensing National Brands Private Brands

20. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 20 Packaging and Labeling Strategy Inventory Control The Product Information Appeal Display Differentiation Function

21. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 21 Product Strategies ProductExpansionProductExpansion Product Line InternationalMarketsInternationalMarkets Product Mix

22. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 22 Product Line and Product Mix Length Width Depth Strengths and Weaknesses Strengths and Weaknesses Long-Term Strategy Long-Term Strategy Managerial Depth Managerial Depth Financial Resources Financial Resources Retail Channel Retail Channel Goods or Services Risks or Rewards

23. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 23 Product Expansion Add Items in a Product Category Under the Same Brand Name Add New Products with the Same Product Name Translate a Successful Brand in a Different Product Format Apply a Successful Brand Name to a New Category

24. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 24 International Markets Entry Requirements Entry Requirements Government Tariffs and Trade Barriers Tariffs and Trade Barriers Culture Language Consumer Preferences Consumer Preferences Exchange Rates Exchange Rates Business Customs Business Customs Standardization Customization

25. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 25 Product Positioning Features Services Image Price Category Size, ease of use, style Convenience, customer support Reliability, sophistication Low cost or premium Leading online seller

26. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 26 Product Positioning Errors UnderPositioningOverPositioningConfusedPositioning

27. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 27 Developing Pricing Strategies QualityPerceptionsQualityPerceptions MarketingObjectivesMarketingObjectives ConsumerDemandConsumerDemand GovernmentRegulationsGovernmentRegulations

28. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 28 Break-Even Analysis Break-Even Point $$ Profits $$ More Than $$ Losses $$ Less Than Fixed costs Selling price per unit-Variable costs per unit Cost-Based Pricing

29. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 29 Break-Even Point Haircuts at $20 Each

30. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 30 Break-Even Point Haircuts at $30 Each

31. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 31 Other Pricing Strategies Price-Based Optimization Skimming Penetration

32. © Prentice Hall, 2007Excellence in Business, 3eChapter 13 - 32 Price Adjustment Strategies Discount Pricing Bundling Dynamic Pricing