Chapter 7: Managing Products
Chapter Summary:
In this chapter we extend the coverage of product decisions by exploring additional product issues facing the marketer. First, we look at how companies structure their product offerings and identify the scope of a manager's responsibilities within this structure. Second, we spend a large part of this chapter covering the importance of new product development, including an analysis of the steps firms may follow to bring new products to market. Finally, we show that once new products have been established in the market numerous factors force the marketer to continually adjust its product decisions. As part of this we examine the concept of the Product Life Cycle and see how it offers valuable insight and guidance for new product decisions.
Key Issues:
- Structure of Product Management
- Managing New Products
- Categories of New Products
- New Product Development Process
- Managing Existing Products
- The Product Life Cycle
Links to Cited References:
(note: Some links may no longer be active, if this is the case check Accessing Marketing Stories for hints on accessing.)
- Tide website. http://www.tide.com/en_US/products/index.jsp
- Salary.com website. http://www.salary.com/
- Occupational Employment Statistics website. http://www.bls.gov/oes/home.htm
- Segway website. http://www.segway.com/
- "Sacrebleu! It Comes With a Straw?" MSNBC, April 27, 2008. http://www.msnbc.msn.com/id/24339429/
- Yang, J.L., "Designing the iPhone for Diapers," Fortune, August 25, 2008. http://money.cnn.com/2008/08/22/news/companies/yang_diaper.fortune/index.htm
- Byron, E., "A Virtual View of the Store Aisle," Wall Street Journal, October 3, 2007. http://online.wsj.com/public/article/SB119136645682746972.html
- Jargon, J., "Kraft Reformulates Oreo, Scores in China," Wall Street Journal, May 1, 2008. http://online.wsj.com/article/SB120958152962857053.html
- For description of innovator categories for farmers see High Tech Strategies website. http://www.hightechstrategies.com/profiles.html
- Moore, G., Crossing the Chasm, Marketing and Selling Technology Products to Mainstream Customers, HarperCollins, 1991.
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