Professional Documents
Culture Documents
UNIT 2 Product Development &product Life Cycle
UNIT 2 Product Development &product Life Cycle
Business Analysis
If No, Eliminate
Product Concept
If Yes, Move to
Product Development
9-9
New Product Development Process
Step 7. Test Marketing
Standard Controlled
Test Market Test Market
Full marketing campaign A few stores that have
in a small number of agreed to carry new
representative cities. products for a fee.
Simulated
Test Market
Test in a simulated
shopping environment
to a sample of
consumers.
PLC Stages and Characteristics 9-10
PLC Length and Shape 9-11
Sales and
Profits ($)
Sales
Profits
Time
Product Introduction Growth Maturity Decline
Develop-
ment
Losses/
Investments ($)
PLC Marketing Strategies 9-13
PLC
Profits Negative
Create product awareness
Marketing Objectives
and trial
Product Offer a basic product