Business has only two functions. Marketing and innovation

Business has only two functions. Marketing and innovation

Business has only two functions. Marketing and innovation Peter. F. Drucker New product The profound impact on society, life To belie the resistance to change it takes a a very brave or very foolish company Appreciation comes in hindsight. The document company This is not about copiers

Xerox Country of Origin: USA Brainchild of : Chester Carlson Invented category Past Between 1939 1944, rejected by 20 companies like GE, Kodak, IBM 1959 first plain paper copier. Named most successful product ever marketed in America by fortune

xerox Innovation Xerox Palo Alto Research Centre(PARC) Xerox document University, Virginia Marketing Brand Name PR to turn first mover advantage to success Its a $ 20 billion empire

Eco friendly design and manufacturing saved Xerox $2 billion between 1991 - 2001 Deep down you want a hoover Hoover Country of Origin: USA Brainchild of : Murray Spangler Invented its category Visible improvement Past William hoover patented it in 1908. shifted from harnesses for horses and carts to suction sweepers to vacuum cleaners

Hoover Innovation Category wind tunnel system Marketing Try USA before you buy. s no.1 Vacuum cleaner Dont leave home without it

Do more cards American Express Country of Origin: USA Invented category through foresight Past 1850 Express Freight Company , active in American civil war; 1880 physical cargo to finance fund transfer; American Express Innovation 1891 travellers cheques pioneered 1958 Am ex card consumer liberation

Marketing Exclusivity through charge card credit rating Ultimate status symbol membership has its Privileges; Richard Branson , brand ambassador Exclusivity and status to inclusivity and convenience Stupendous ability to evolve Worlds no. 1 travel agency, financial supermarket Ho shuru har din aise Nescafe

Country of Origin: Switzerland Brainchild of : Max Morgenthaler Invent the category Past 7 years of intensive research on the behest of brazilian the 30s Nescafe Innovation 1952 pure soluble coffee, 65 freeze dried coffee, 67 granules, 94 full aroma

Marketing Popular and prestige continuum 3,000 cups of nescafe being consumed every second Staple drink of the US armed force during WW II. Intelligence at work Sony Country of Origin: Japan

Brainchild of : Akio Morita & Masaru Ibika Past Radio repair firm 1946, first brand 1950. First pdt rice cooker! Continuous and radical innovation Sony Innovation

Marketing second name pioneering spirit Transistor radio, transistor TV, 1st colour video recorder, walk man, sony playstation, now connectivity between computing & home entertainment. Synergy between hardware and content CBS records, columbia pictures, Sony music, sony pictures etc People buzz and support Slogan products for people

Distrust for mkt research Walkman launched as soundabout in US, Stowaway in UK, Freestyle in Australia. Sony playstation 2 dominates the game console mkt with 70% global sales There from the start ADIDAS Country of Origin: Germany Brainchild of : Adolph Dassler Past 1920. first show at olympics 1928, Jesse Owens, Armin Hary, 1936 Equipment manager of the world

Continuous innovation Adidas Innovation Pdt innovation Material innovation Marketing Ideas

3 stripes, david beckham, Tim Duncan Sports brand to fashion brand Shoes to sports wear Sports performance line (70%), sports heritage line ( 25%), Sports Style line (5%). Spotting future trends thru ABCD camps, Basketball skill workshop studs, spikes

nylon shoes PR,, sponsorship, endorsements, testing of new pdts Second largest in the sportings good industry 13% of group sales spent on marketing 60 new foot wear designs each year Play safe Durex Country of Origin: UK Founded in 1915 as London Rubber Company Past

Producing condoms since 1929 First to provide lubricated condoms and also non latex condoms Perceptual improvement Durex Innovation

Constant product improvement DUrability, REliability, EXcellence Knowledge and awareness platform for debate and discussion Marketing Brand name Sexual health ambassador Association with safety, sexual health, and responsibility

Social responsibility to the heart of the business Distribution supermarkets, bars, pharma chains. Market leader in 40 countries No. 1 brand in the world, accounting for 26% of the 4 Billion market. Engineered like no other car in the world Mercedes Benz Country of Origin: Germany Brainchild of : Karl Benz, Gottlieb Daimler Past

1885 G. Daimler- first land vehicle with internal combustion engine, 1886 karl benz first car . 70 miles apart , took 40 years to get together. Continuous innovation Mercedes Benz Innovation

Marketing Electro hydraulic system, fuel injection, sensotronic brake control system, Electronic stability program Explicit focus engineering, intrinsic focus prestige Now extending to penetrate the market- A, C class Mercedes Logo vision to provide small engines to travel on land, sea and air So which new products succeed?

Those that offer clear cut relative advantage Compatible with existing Consumption patterns Adidas Simplicity of Usage

Hoover Easy to see advantage observability Mercedes benz Trialability Xerox American express, nescafe

Novelty with a perceptual rationale Sony, Durex Most of the times they fail Inadequate planning Tanishq Insufficient superiority or uniqueness cool cats -polar Poor execution pepsi ruffles Technical problems color safe, cibaca lime Poor timing yoghurt, iced tea distribution betamax technology What is a new product? New

to the world xerox New product lines LG Addition to existing product line Pears New improved version surf, lux Repositioning livon- renue Cost reduction Simputer Consumers Perspective on newness Discontinuous New function never performed ever before

Hoover, jaipur foot Dynamically continuous Innovation Similar consumption pattern Travellers cheques, Reva, scotch brite Continuous innovation

innovation Product modification Merc, toyota, Mr. clean Organisational support to NPD Goal definition Budgeting Idea screening, concept development, product development, test marketing, commercialisation

Organisational structure Product managers New product managers New product teams Cross functional new venture / project temas Why new products? Changing consumer demands mobiles allied insurance covers New avenues for profits

Combating environmental threats hoover NPD Process Idea generation Interaction with employees, customers, designers, secondary sources etc walkman - morita and ibuka Creative techniques Attribute listing and exchange, mind mapping and association, combining objects etc

NPD Process Idea Should be reasonable, compatible with organizational goals , appropriate for org. tgt mkt P and G model; screening Is there a real customer need for this product?

Does the org. have the techno ability to make the pdt? Is the potential large enough to promise profitability? Drop error or a go error NPD Process Concept frito lays and pepsi

Detailed concept Rapid prototyping Virtual reality Conjoint analysis Marketing Strategy drug delivery systm Concept development thru pdt positioning Thru competitive positioning Concept testing- need, liking, willingness to buy

and strategy development mkt share, STP, 4Ps, Business Analysis Cost vs profits. profit goals for 1-3-10 years, Breakeven analysis Seasonality, price elasticity, Demand estimation substitution . End use methods NPD Process Product

development Customer attributes to Engineering attributes VOLVO Real prototype development Alpha testing melatonin, gilette, cars, durex, Beta testing clinical trials, Dow liquid tire chain spray NPD Process Test Sales wave research

Consumption patterns Simulated test mktg marketing Promotional effectiveness, trial rates Controlled test mktg Shelf space success, local advertising and consumer

beh. NPD Process Commercialisation When? First, parallel, after the competition Where? How ? For whom ?

Transelectras Good night, allathrin based repellent Brand name Mother and child National TV promotion Dealer network Penetration thru cordless version Skim thru liquidator 50% mkt share of 100 cr. Mosquito repellant market Product Introduction Sales Low Costs

Very high production and marketing costs Profits Negative Customers Innovators, few Competitors Negligible importance Mktg Objectives Creating acceptance- fostreing pdt awarenss, trial purchase

Product Basic design with inherent compt. Advantage Place Selective distribution, being slowly built up Price High to recover some expenses promotion Informative, high buzz Advertising

To build awareness among customers and dealers Sales promotion Heavy to entice trial. Growth Sales Rapid growth Costs Lower than intro stage, closer to averaging out Profits Reach peak level as a result of high price and demand

Customers Early adopters Competitors Growing Mktg Objectives Mkt penetration and expansion to maximise share Product Pdt improvements , service, warranties, expand pdt line Place

Intensive, fewer trade discounts as dealers eager to stock up Price High to take advantage of high demand; turn penetrative promotion Persuasive to build loyalty and pdt differentiation Advertising Enhance awareness and interest Sales promotion Reduce to take advantage of heavy demand

Maturity Sales Slow growth, peak values Costs Low cost per customer Profits High but rising competition begins to eat in Customers Mid majority

Competitors Many rivals Mktg Objectives Defense of mkt share, Brand position, maximise profit Product Induce Product differentiation, fuller pdt lines, pdt -brand extns Place Intensive to retain shelf space, heavy trade allowances Price

Competitive pricing, what the mkt may bear promotion Extensive to retain key existng cust. And induce br. switch Advertising Stress brand Difference, benefits Sales promotion Enhanced to encourage brand switching Decline Sales

Declining Costs Low Profits Declining volumes lead tom dithering profits Customers Laggards Competitors Few, shakeout of weak members

Mktg Objectives Reduce expenses, sqeeze all possible benefits and prepare to withdraw Product sustain best sellers; phase out the rest of pdt lines Place Selesctive , phase out unprofitable ones Price Cut, liquidate inventory promotion

Minimal or none Advertising Minimal, local or none Sales promotion Minimal to clear stocks Consumer adoption Process Innovators

Venturesome Dare, different, younger Better educated ~fin. stable Early adopters Early Majority Self confident, income

Well read, aware High usage rate Opinion leaders influencers Solid, mid. Class consumers Deliberate & cautious Avg. socio status

Late majority Laggards Less edu, fin. Stable Older , conservative Reluctant to change

Lowest in socioeco. Status Highly resistant to go against convention Hold outs

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