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new products development processidea generation the development of the new product starts with a generation of new ideas there may be a number of
factors contributing to new product development several factors contribute to the new product development while most are related to the external
new product development once a company has carefully segmented the market chosen its target customers identified their needs and determined its
factors affecting the life cycle of a product there are many factors that affect the life cycle of a product statement of joe dean is very important
utility of the product life cycle1 as forecasting tool the study of product life cycle is an important tool for sales
1 what are the significant factors that have led to the success of shoppers stop 2 draw the typical profiles of shoppers stop customer
product life cyclemeaning and definition like a human being all products have a certain length of life during which they pass through certain
process of the positioningstep 1 competitors identification this step requires broad thinking competitors may not be just those whose products and or
positioning strategies1 attribute positioning a company positions itself on an attribute such as the size or the number of
positioning errorskotler says that the firm should avoid four major positioning errors namelyunder positioning this occurs when the buyers know much
the ways to position the brand areuse situations the marketer can identify use situations for his brand or the product and analyze customer
importance of the positioning or why positioning1 to create a distinctive place of a product or service in the minds of
positioningmeaning and definitions positioning is a platform for the brand it facilitates the brand of to get the target consumer positioning is the
targeting strategies having segmented the market the firm now has to choose its marketing strategies there are three strategies to choose
mega marketingit is the strategic coordination of the economic psychological and political and public relations skills to gain the corporations of a
segment interrelationships and super -segmentsin selecting more than one segment to serve the company a company would-be wise to enter one segment at
ethical choice of the market targetsmarket targeting sometimes generates public controversy the public is concentred when the marketers take unfair
full market coverage here a firm concentrates on serving many needs of a particular customer group only very large firms can undertake a full market
market specialization here the firm concentrates on serving many needs of a particular customer group an example would be a firm that sells an
product specializationhere the firm specializes in making a certain product that it sells to several segments an example would be a microscope
market targeting market segmentation reveals the firms market segment opportunities the firm now has to evaluate the various segments and decide how
requirements for the effective segmentation1 accessibility the segment should be accessible or otherwise no in roads can be
market segmentation producer or how to segment the market1 survey stage this is divided into two parts 1 focus group
segmenting industrial markets1 size of the customer this has been one of the traditional methods of segmenting industrial
competition related segmentationhard core loyal hard core loyal are those customers who continue to buy the same brand over and over again newspaper