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 once new products have been established in the market numerous factors force the marketer to 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.)

  1. Tide website.  http://www.tide.com/
  2. BIC website. http://www.bicworld.com/
  3. Salary.com website.  http://www.salary.com/
  4. United States Department of Labor – Occupational Employment Statistics website.  http://www.bls.gov/oes/home.htm
  5. Reiter, C., “Mercedes Designer Goes ‘Off the Charts’ to Draw Younger Buyers,” BusinessWeek, January 11, 2011.  http://www.businessweek.com/news/2011-01-11/mercedes-designer-goes-off-the-charts-to-draw-younger-buyers.html
  6. Segway website.  http://www.segway.com/
  7. Olson, E., “Under Armour Wants to Dress Athletic Young Women,” New York Times, August 31, 2010.  http://www.nytimes.com/2010/09/01/business/media/01adco.html
  8. Perraudin, F., “From Four Wheels to Two: Has Mini Gone Too Far?” Time, September 29, 2010.  http://www.time.com/time/business/article/0,8599,2021952,00.html
  9. Horovitz, B., “Savvy Marketers Let Consumers Call the Shots,” USA Today, March 24, 2011.  http://www.usatoday.com/money/industries/retail/2011-03-23-consumers-creating-products.htm
  10. Siriwardane, V., “How to Run a Brainstorming Session,” Inc. Magazine, November 30, 2010.  http://www.inc.com/guides/2010/11/how-to-run-a-brainstorming-session.html
  11. Horovitz, B., “12-Inch Burger? Carl’s Jr., Hardee’s Test Market a Foot-Long,” USA Today, July 16, 2010.  http://www.usatoday.com/money/industries/food/2010-07-16-footlong16_ST_N.htm
  12. Wong, E., “Inventions That Were Accidents,” Forbes, December 23, 2010.  http://www.forbes.com/2010/12/23/ten-accidental-inventions-leadership-cmo-network-common.html
  13. Szoid, C., “Rent-A-Wreck Trades in Its Beat-Up Car-Rental Image,” USA Today, July 21, 2010.  http://www.usatoday.com/money/autos/2010-07-21-rentawreck21_ST_N.htm
  14. Rogers, E.M., Diffusion of Innovation, The Free Press, 1995.
  15. Moore, G., Crossing the Chasm, Marketing and Selling Technology Products to Mainstream Customers, HarperCollins, 1991.
Chapter 8: Distribution Decisions
Chapter 6: Product Decisions