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Class notes
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- 1why is it important to get the product configuration right?because product configuration details are irreversible downstream;
- 2why do organizations exist?because somebody wants what i do :
product or service - 3what is the current challenge on products?competition has made the products indistinguishable
today customers see the the same thing; all products are identical; - 4How do consumers make choices?not on $1.8 billion R&D spent..but because the salesman was nice!
- 5MarketingMarketing is reality; you cannot be off by 100% in marketing or sales ;
financewallahs can be be!!! - 6On customersDont complain that customer is not seeing what I 'm seeing;
you have to give something to the customer to choose you! - 7On pricesprice will be only a factor when other factors are not visible ;
- 8Redefining markrtingSolution...not the product
Access...not the the place
Educate...not promote
Value...not the price - 9product and servicewhen we buy a tangible we are also buying intangible service;
Core product/service:
---service environment
---service delivery experience
---service/augmented product - 10Companies that are customer focussedAmazon
Apple
Zappos
Disney - 11Think Different campaign of AppleIts what people can do with computers , rather than what the computers can do for the person;
about the 1/4" hole and not the 1/4" drill - 12Why does a product need to take example of user experience?indian railways : Rajdhani;
competing with the Airways; they just focused on the coach interiors ;
however there was no place to dump the garbage and placed in between coaches just liek a regular railway coach;
customer experience goes for a toss here - 13Good example of customer experienceTirupur T-shirt example:
guy reaches out to prof thru Whatsapp , with colors and free samples;
he buys them;
another example is the massage center:
guy who was reached at did not callup;
some other guy called up;
earned 15000! - 14Innovation : most common fallacyinnovation is just product;
no: innovation is about customer experience - 15Product quality and Successif there is no product quality, failure is guaranteed
If there is product quality, success is not guaranteed - 16What is a new product?something that creates a new market:
a company launching an existing product that is outside of its current product line (suppose : Maruti launches its brand of refrigerators) - 17product newness and behaviors
- 18product evolution and innovation: example of mobilecore : talk
generic : calendar/alarm
expected : camera
augmented: touch screen/apps
potential: - 19marketing pitchif core is similar, focus on the context;
if issues @ core itself, focus on the core;
(example : call drop rate in mobiles ; Tata Indicom Ad.)
because nothing can kill a product as fast as good advertisement - 20types of innovationdisruptive-incremental
product - process
product-platform
competence enhancing-destroying - 21in above types of innovation, which are behavior changingdisruptive;
product ; - 22what are different types of process innovationcustomer facing (Amazon)
non-customer facing (FedEx) - 23Strategy & ExecutionStrategy is good as your ability to implement
- 24Ansoff matrix and Ambition matrixAnsoff : Strategy for Growth
Ambition Matrix : strategy for innovation - 25product life cycle
- 26product lifecycle is a dependent variableProduct strategy
Marketing
Distribution - 27what are the different ways to sustain the business in different phases of PLCIntroduction phase : product is Hero
GRowth phase : Marketing is the Hero
Maturity : Process is the Hero - 28As a manager, how would you choose between high,normal and low growth strategyChoose high growth, if there is a potential for the clones to come in soon ; with this there is a high possibility of quality problems and operations problems (heathrow airport)
choose low growth, if there are significant barriers to entry - 29ANSOFF matrix
- 30Link ansoff to PLC in maturity phaseIn maturity phase , you can attain growth by:
increasing pie (market development)
increasing market share (market development) - 31Product growth and Category growtha product life-cycle cannot be analyzed independent of its category;
Low market share
high growth rate (Question mark)
High market share
High growth rate (Star)
High market share
low market growth rate (Cash cow)
low market share
low market growth rate (Dog) - 32Rasna and PLCIntro and Growth - focus on product - for family
Mature Focus on Market - Children
Mature - alternative to tea and coffee
Decline - Energy drink - 33another example : dabur honeypositioned as sugar alternative in a larger industry
- 34BCG
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- PSM Fichas sobre Class notes, creado por Mukundhan Srinivasan el 10/10/2016.
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- Mukundhan Srinivasan
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