1. Principles of Marketing NICK C. SATUR JR. BATAS-NSJ

3. Five Product Levels

5. Product Classification Durability Use Tangibility

6. Durability and Tangibility Nondurable goods Services Durable goods

14. Consumer Goods Classification Convenience Unsought Shopping Specialty

23. Marketing Mix

25. New Product Development Process Idea Generation Concept Development and Testing Marketing Strategy Development Idea Screening Business Analysis Product Development Market Testing Commercialization

26. Step 1. Idea Generation Idea Generation is the Systematic Search for New Product Ideas Obtained Internally From Employees and Also From: Customers Competitors Distributors Suppliers

28. New Product Development Process Step 3. Concept Development 1. Develop New Product Ideas into Alternative Detailed Product Concepts 2. Concept Testing - Test the New Product Concepts with Groups of Target Customers 3. Choose the One That Has the Strongest Appeal to Target Customers

29. Step 4. Marketing Strategy Part Three Describes Long-Term: Sales & Profit Goals Marketing Mix Strategy Part Two Describes First-Year: Product’s Planned Price Distribution Marketing Budget Part One Describes Overall: Target Market Planned Product Positioning Sales & Profit Goals Market Share

30. Step 5. Business Analysis Step 6. Product Development If No, Eliminate Product Concept Business Analysis Review of Product Sales, Costs, and Profits Projections to See if They Meet Company Objectives If Yes, Move to Product Development

31. Step 7. Test Marketing Test Marketing is the Stage Where the Product and Marketing Program are Introduced into More Realistic Market Settings. Elements that May be Test Marketed by a Company Advertising Atmosphere Product Budget Levels Positioning Location Pricing Branding

32. Step 8. Commercialization Commercialization is the Introduction of the New Product into the Marketplace. When is the Right Time to Introduce Product? Where to Launch a New Product?