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Managing products & services
Product Life cycle
Managing the product life cycle
Common reasons for resisting a product Cultural differences or image.  Psychological barrier Physical, economic, or social  Risk barrier Product provides no incentive to change  Value barrier Product is incompatible with existing habits  Usage barrier
How AM should manage the product during its cycle? ,[object Object],[object Object],[object Object]
When to reposition a product? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Marketing MIX ,[object Object],[object Object],[object Object],[object Object],[object Object]
Why new products may Fail? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Product warranty Full warranty Limited coverage warranty Implied warranty ,[object Object],[object Object]
Characteristics of services ,[object Object],[object Object],[object Object],Inventory ,[object Object],[object Object],Inseparability ,[object Object],[object Object],[object Object],Inconsistent ,[object Object],[object Object],[object Object],Intangible
Services buying behavior ,[object Object],[object Object],[object Object]
Assessing service quality Gap Service that customers receive & Service they want Service What the company provides & What the customer is told it provides  Communication Service quality specifications & Service that is actually provide  Delivery What management thinks customers want  & Quality specifications that management develops to provide  the service   Standard What management thinks customers want & What customers want  Knowledge
Services marketing (service mix) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Case study 2 ,[object Object],[object Object],[object Object],[object Object]
Thanks

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Sales & Marketing introduction - Session 5

  • 3. Managing the product life cycle
  • 4. Common reasons for resisting a product Cultural differences or image. Psychological barrier Physical, economic, or social Risk barrier Product provides no incentive to change Value barrier Product is incompatible with existing habits Usage barrier
  • 5.
  • 6.
  • 7.
  • 8.
  • 9.
  • 10.
  • 11.
  • 12. Assessing service quality Gap Service that customers receive & Service they want Service What the company provides & What the customer is told it provides Communication Service quality specifications & Service that is actually provide Delivery What management thinks customers want & Quality specifications that management develops to provide the service Standard What management thinks customers want & What customers want Knowledge
  • 13.
  • 14.