marketing mix - page 4
Keywords: new marketing mix of Skoda
By finil on 15/05/2009
Level: Master's degree (MA, MBA, MSc, MEng, MRes, MPhil etc)
Page Number: 4 of 10 pages: 1 2 3 4 5 6 7 8 9 10
competitors are high, because of the high demand of the product. At this stage the company is getting profit with high sales ratio.
4.3. Maturity stage
The product become stable at this stage. Company getting equal and stable profit. The product is becoming popular in market,no need of publicity. At this stage industrial profit is going down. This is the stage of decline situation of the product.
4.4. Decline stage
At this stage the product facing the worst market situation. Profit and market share has been decline. Sales volume and profit is getting diminishing, because of the high competition.
Following are the some sign of decline stage:
low profit, because of the high competition
cost of production is high
sale ratio is diminishing
price becoming diminishing
5. Product Development
It is the important process for new product, that deciding with in the firm. It is the process that which identify the scope, demand, and profit of the new product, in order to achieve the organization goal. The product development has been processed through the following steps:
Idea Generation
idea from :
customer and user.
Marketing research.
Competitors.
Other markets.
Company people.
Middle man etc.
Screening
Strengths and weakness.
Fit with objectives
Market trends.
Rough ROL estimate.
Idea evaluation
concept testing.
Reactions from customers.
Rough estimates of cost, sales and profit.
Development
Develop model or service prototype.
Test marketing mix
Revise plans as needed.
Commercialization
Finalize product and marketing plan.
Start production and marketing.
5.1. Generating Ideas
This is the first step that firm will follow for development of new product. In this step the firm will collect the different ideas from various source like employer, suppliers, competitors, customers etc. So based on that, the company will do more process.
5.2.Screening
Under the screening step, the company will generate the feasibility of collected ideas.how possible to work-out,and screening the scope of the product will analyse in this step.
Screening should also consider how a new product will affect consumers over time. Ideally, the product should increase consumer welfare, not just satisfy a whim.
Real acceptance of the marketing concept certainly leads to safe products. But consumers still buy some risky products for the thrills and excitement they provide- for example, bicycles, skis, hang gliders and bungee jumps. Even so, companies can usually add safety features and some potential customer want them. Each of the major European countries has its own codes of safety, which govern product performance. Frequently these have been harmonized, particularly for product such as domestic appliances that are sold across Europe. Since 1998, all products sold for the handicapped in the EU must have a 'Conformite
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