POSITIONING THE MARKET OFFERING THROUGH THE PRODUCT LIFE CYCLE

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Presentation transcript:

POSITIONING THE MARKET OFFERING THROUGH THE PRODUCT LIFE CYCLE CHAPTER 10 POSITIONING THE MARKET OFFERING THROUGH THE PRODUCT LIFE CYCLE

IPORTANT TOPICS OF THIS CHAPTER Identify Differentiating Strategies Identifying Positioning Strategies Marketing Strategies Along the Product Life Cycle

DIFFERENTIATION STRATEGY Product Differentiation: Form: Size, shape or physical structures. Features: Basic Vs advance models. Performance quality: Low, average, high and superior: Conformance quality: To meet product specifications. Durability: Expected life under normal conditions. Reliability Style: Design Reparability

DIFFERENTIATION STRATEGY (CONT.) Service Differentiation: Ordering ease. Delivery. Installation. Customer training. Customer consulting. Maintenance and repair. Miscellaneous services-improved product warranty. Personnel Differentiation: Competence, credibility, reliability, responsiveness, and communication. Channel Differentiation Image Differentiation: Symbols, media, atmosphere and events.

POSITIONING STRATEGY Product Differentiation: Positioning: Important. Distinctive. Superior. Preemptive. Affordable. Profitable. Positioning: Best quality, best service, best price, best value, lowest price, safest, fastest, and most customized in the target market’s mind Double-benefits positioning: Safe and durable. Triple-benefits positioning: Safe, durable and stylish.

POSITIONING STRATEGY (CONT.) Positioning errors: Under-positioning Over-positioning Confused positioning Doubtful positioning. Positioning decision: Perceptual Maps: Attribute positioning Benefit positioning Use/application positioning User positioning Competitor positioning Product category positioning Quality/price positioning

Example of Perceptual Map 0.2 0.4 0.6 0.8 1.0 1.2 1.4 1.6 -1.6 -1.4 -1.2 -1.0 -0.8 -0.6 -0.4 -0.2 1.0 0.8 0.6 0.4 0.2 -0.2 -0.4 -0.6 -0.8 Economical Fun rides Exercise Fantasy Good food Easy to reach Educational, animals Little waiting Live shows Magic Mountain Japanese Deer Park Busch Gardens Knott’s Berry Farm Lion Country Safari Marineland of the Pacific Disneyland

PRODUCT LIFE-CYCLE MARKETING STRATEGIES Time Sales & profits ($) Introduction Growth Maturity Decline

STRATEGIES FOR NEW PRODUCT INTRODUCTION Price Low High Promotion Rapid- skimming strategy Slow- skimming strategy Rapid- penetration strategy Slow- penetration strategy

MARKETING STRATEGIES FOR GROWTH STAGE Improved product quality. Higher advertising budget. Entering new market segment. Improvement of distribution network. Lowering prices for competitive pressure.

MARKETING STRATEGIES FOR MATURITY STAGE Market Modification: Convert nonusers. Enter new market segment. Attract competitors’ customers. Product Modification: Improvements in product quality, style and futures. Marketing-Mix Modification: Prices Distribution Advertising Sales promotion Personal selling Services

MARKETING STRATEGIES FOR DECLINE STAGE Increase investment. Resolve uncertainties: stable investment. Selective niches. Harvesting: Quick cash generation. Divesting: Disposing the assets as advantageous as possible.