Marketing management Essay Example for Free

Marketing management Essay Slide 9.1 it’s good and good for you Chapter 9a Developing new products and  managing the product life cycle Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.2 New product development and product life-cycle strategies Topic outline †¢ †¢ †¢ †¢ †¢ New product development strategy New product development process Managing new product development Product life-cycle strategies Additional product and service considerations Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.3 New product development strategy Two ways to obtain new products Acquisition refers to the buying of a whole  company, a patent or a license to produce  someone else’s product. New product development refers to the  development of original products, product  improvements, product modifications and  new brands through the firm’s own product  development efforts. Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.4 New product development process  Major stages in new product development Figure 9.1 Major stages in new-product development Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.5 New product development process (Continued) Idea generation Idea generation is the systematic search for new product ideas. Sources of new product ideas †¢ Internal †¢ External Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.6 New product development process (Continued) Idea generation Internal sources refer to the company’s  own formal research and  development, management and staff, and intrapreneurial programs. External sources refer to sources outside  the company such as customers,  competitors, distributors, suppliers  and outside design firms. Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.7 New product development process (Continued) Crowdsourcing Inviting broad communities of people—  customers, employees, independent  scientists and researchers and even the public at large—into the new product  innovation process. Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.8 New product development process (Continued) Idea screening †¢ Identify good ideas and drop poor ideas. †¢ R-W-W screening framework: – Is it real? – Can we win? – Is it worth doing? Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.9 New product development process (Continued) Concept development and testing Product idea is an idea for a possible product  that the company can see itself offering to the market.  Product concept is a detailed version of the  idea stated in meaningful consumer terms.  Product image is the way consumers  perceive an actual or potential product. Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.10 New product development process (Continued) Concept development and testing Concept testing refers to testing new product concepts with a group of target consumers to find out if the concepts have strong consumer appeal. Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.11 New product development process (Continued) Marketing strategy development †¢ Marketing strategy development involves designing an initial marketing strategy for a new product based on the product concept. †¢ Marketing strategy statement includes: – Description of the target market – Value proposition – Sales and profit goals. Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.12 New product development process (Continued) Marketing strategy development Business analysis involves a review of the sales, costs and profit projections to find out whether they satisfy the company’s objectives. Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.13 New product development process (Continued) Marketing strategy development Product development †¢ †¢ †¢ Involves the creation and testing of one or more physical versions by the RD or engineering departments. Requires an increase in investment. Shows whether the product idea can be turned into a workable product. Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.14 New product development process (Continued) Marketing strategy development Test marketing is the stage at which the product and marketing program are introduced into more realistic marketing settings. Provides the marketer with experience in testing the product and entire marketing program before full introduction. Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.15 New product development process (Continued) Types of test markets Standard test markets Controlled test markets Simulated test markets Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.16 New product development process (Continued) Marketing strategy development †¢ Advantages of simulated test markets – Less expensive than other test methods – Faster – Restricts access by competitors. †¢ Disadvantages – Not considered as reliable and accurate due to the controlled setting. Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.17 New product development process (Continued) Marketing strategy development When firms test market †¢ New product with large investment †¢ Uncertainty about product or marketing program When firms may not test market †¢ Simple line extension †¢ Copy of competitor product †¢ Low costs †¢ Management confidence Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.18 New product development process (Continued) Marketing strategy development Commercialisation is the introduction of the new product †¢ When to launch †¢ Where to launch †¢ Planned market rollout Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.19 Managing new product development Successful new product development should be: †¢ customer-centred †¢ team-based †¢ systematic. Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.20 Managing new product development (Continued) New product development strategies Customer-centred new product development: new ways to solve customer problems and create more customer satisfying experiences. Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.21 Managing new product development (Continued) New product development strategies Sequential new product development:  company departments work closely  together individually to complete each  stage of the process before passing it  along to the next department or stage. †¢ Increased control in risky or complex projects but may be slow. Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.22 Managing new product development (Continued) New product development strategies Team-based new product development: Various company departments work  closely together, overlapping the steps  in the product development process to  save time and increase effectiveness. Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.23 Managing new product development (Continued) New product development strategies Systematic new product development: innovative development approach that collects, reviews, evaluates and manages new product ideas. †¢ Creates an innovation-oriented culture. †¢ Yields a large number of new product ideas. Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.24 Product life-cycle strategies Product life cycle Figure 9.2 Sales and profits over the product’s life from inception to decline Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.25 Product life-cycle strategies (Continued) †¢ Product development – Sales are zero and investment costs mount. †¢ Introduction – Slow sales growth and profits are nonexistent. †¢ Growth – Rapid market acceptance and increasing profits. †¢ Maturity – Slowdown in sales growth and profits level off or decline. †¢ Decline – Sales fall off and profits drop. Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.26 Product life-cycle strategies (Continued) Figure 9.3 Styles, fashions and fads Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.27 Product life-cycle strategies (Continued) Fads are temporary periods of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity. Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.28 Product life-cycle strategies (Continued) Introduction stage †¢ Slow sales growth †¢ Little or no profit †¢ High distribution and promotion expense. Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.29 Product life-cycle strategies (Continued) Growth stage †¢ †¢ †¢ †¢ †¢ †¢ Sales increase New competitors enter the market Price stability or decline to increase volume Consumer education Profits increase Promotion and manufacturing costs gain economies of scale. Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.30 Product life-cycle strategies (Continued) Maturity stage †¢ †¢ †¢ †¢ †¢ Slowdown in sales Many suppliers Substitute products Overcapacity leads to competition Increased promotion and RD to support sales and profits. Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.31 Product life-cycle strategies (Continued) Maturity stage modifying strategies †¢ Market modifying †¢ Product modifying †¢ Marketing mix modifying Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.32 Product life-cycle strategies (Continued) Decline stage †¢ Maintain the product †¢ Harvest the product †¢ Drop the product Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.33 Additional product and service considerations Product decisions and social responsibility Public policy and regulations regarding developing and dropping products, patents, quality and safety. Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013 Slide 9.34 Additional product and service considerations (Continued) International product and service marketing—challenges †¢ Determining what products and services to introduce in which countries †¢ Standardisation versus customisation †¢ Packaging and labelling †¢ Customs, values and laws. Kotler et al., Principles of Marketing, 6th edition  © Pearson Education Limited 2013

measles :: essays research papers

Measles Virus   Ã‚  Ã‚  Ã‚  Ã‚  In the 1800’s the measles was a very dangerous disease, and when people who come in contact with it will die, if they have never been exposed to the virus before. The measles is transmitted through the air. The way that the virus is transmitted is that infected droplets are released by coughing, sneezing, and by talking. When the infected droplets that contain the measles are in the air, they are taken into the body through the mouth, nose and eyes of the potential person that could get the virus. People with low respiratory tract, which is the lungs and bronchi, are more likely to get the infection. During the next two to four days after the infection penetrates the body, the measles virus replicates in the respiratory cells and then spreads to the draining lymph nodes, where it reproduces again. Then it moves into the blood stream, carried by the white blood cells. This results in the virus being carried all over the body, which leads to infecting other p laces inside the body. During this time, the infected person feels fine and the measles infection and incubation stages are very unnoticeable. The next stage of the measles happens after eight to twelve days. The infected person has symptoms of fever, weakness and loss of appetite. Coughing and running of the eyes and nose are also seen. Now the infection is spreading all over the tissues through out the body. They also trigger the body’s immune system, which causes the symptoms. When the measles virus infects the immune system and interacts with the antibodies and T cells, a measles rash begins on the face and very quickly spreads to the body, arms and legs. The fever and cough become more intense after the fifth day. The rash turns into 3-4 mm red maculopapular lesions, which are flat and slightly raised. Pretty much this virus starts on the face, behind the ears, and moves downward all over the body. After awhile the rash begins to disappear, but the immune system is still weak. Making people who were infected with the measles more prone to other infections, making the immune system more susceptible to become infected, which in the early days of the measles caused many deaths.   Ã‚  Ã‚  Ã‚  Ã‚  With the growth of medical technology and research, a measles vaccine was produced. It is given to children before the age of four, and the measles infection is on the decline.

Economics of All You Can Eat Buffets

The notion of paying one set cost for ‘unlimited' quantities of a good or service is certainly appealing, and that appeal is exactly what all-you-can-eat (AYCE) restaurants take advantage of. Gobi Brighton, an all-you-can-eat barbeque restaurant in England, offers unlimited servings of Asian and Middle-eastern foods for one fixed price of 12 pounds. Of course, no customer will actually eat an infinite quantity.Taking this factor into account, and given the various costs the restaurant must pay to deliver the service, this fixed price that consumers pay is determined such that the restaurant will profit in the long-run despite the quantity customers individually eat. Andy and George, however, two middle-aged men who frequently visit this AYCE restaurant, were recently kicked out and banned from Gobi Brighton because, according to the manager of the restaurant, they were â€Å"[eating] the restaurant out of business† (Dartford 2012).While it is certainly possible that busi ness may not be so great for Gobi Brighton these days, whether two customers can be blamed for it or not is another question. This paper will analyze the economic principles of AYCE restaurants and determine if it was possible for Andy and George to have been actually eating Gobi Brighton â€Å"out of business† with their appetite for Asian and Middle-eastern food. Buffets, or AYCE restaurants, can be very profitable because costs paid by the restaurant are much lower compared to those of an a la carte restaurant.Customers are given plates and head to the food counters to get whatever they like instead of ordering from a menu. Consequently, these restaurants have little need for waiters, and thus have less demand for them compared to other restaurants. Furthermore, because food is prepared in large quantities at a time as opposed to being prepared non-stop and on-demand, there is also a lower demand for cooks. On the other hand, buffets require continuous upkeep to ensure foo d safety and presentable aesthetics.Overall though, labour costs for AYCE restaurants are much lower compared to those of other restaurants. Because buffets have reduced production costs, they can afford to charge less to consumers if it means getting more business. Some restaurants use this strategy, but most choose not to because it doesn't lead to profit-maximizing results. Instead, AYCE restaurants take advantage of the law of diminishing marginal utility and how it plays a key role in any customer's ability to consume at a buffet.The manager knows that each additional plate of food provides less utility, or less satisfaction, than the one before. As a result, most people will eat only until the utility derived from an additional serving of food is slightly lower than the utility gained from the first dish. Buffets generate a profit by charging a price which is above the price of the food that the average customer consumes. This strategy assumes that, before the customer consume s a quantity of food where the total cost to the firm is greater than the price of the buffet, their marginal utility will be zero.This expectation was not met in the case of Andy and George. People who go to buffets usually fall into one of two categories of AYCE customers. One group eats regular portions and does one, maybe two trips to the buffet station. These customers are unlikely to eat a value equal to or above the fixed price they paid for the buffet, and thus contribute the most to the accounting profits of AYCE restaurants. The second group of buffet customers consist of over-eaters. They enter a buffet with the intention of getting their value's worth, if not more, of food.These customers are usually familiar buffets and their own capacity for food, and are confident heading into the restaurant because they are certain that they are getting a good deal. These kinds of buffet customers are more likely to consume a quantity of food that is of greater value that of the buff et price. It is here that we find Andy and George, the two over-eaters that were eating Gobi Brighton out of business. After Andy and George paid their 12 pounds, they sat down and each downed five bowls of stir fry before getting kicked out.If the manager was being honest when he said these two customers were putting him out of business, that would mean that those five bowls of stir fry caused the restaurant to go from making accounting profits, where revenue exceeds production cost, to making no profits whatsoever, where revenue equals production cost. Is it possible for ten bowls of stir fry to put this restaurant out of business? One bowl of stir fry these days never costs more than 5 pounds to the producer (Taste 2011).Since Andy and George collectively consumed ten bowls of stir fry, we can assume that up until they were kicked out of the restaurant, the business of the two men cost the restaurant fifty pounds. Beforehand, they each paid 12 pounds for the buffet service, so th e restaurant received 24 pounds as revenue. Consequently, without taking other production costs into account, Gobi Brighton was making a negative accounting profit of 26 pounds. This means that before Andy and George even entered the restaurant, Gobi Brighton was at least 26 pounds away from being unable to sustain its own service.If Gobi Brighton was a perfectly competitive firm in a perfectly competitive industry, then the restaurant has little say in the price because they take whatever price is established by the market equilibrium, and this would explain the poor business (see Figure 1). Raising the price, even by a little, would result in the customers going elsewhere and they would lose all their sales, as shown in point A. Lowering the price to point B, would also be ineffective because they can only sell as much as they can produce, which is a fixed quantity.They would lose even more capital, especially for a buffet service where, theoretically, an infinite quantity of food is being offered. Thus, in a perfectly competitive industry, Gobi Brighton would be forced to continue selling their buffet service at a market price of 12 pounds. Perfect competition could explain how Gobi Brighton was going out of business because of these two men, and thus had to resort to kicking the men out of the restaurant. The fact is, however, that Gobi Brighton is far from being a perfectly competitive firm in a perfectly competitive industry.Buffet prices are not fixed, not all buffets are the same, and buyers and sellers do not have complete information about service. In fact, according to Yelp, Asian and Middle-eastern restaurants are not that common in England, so the restaurant could have raised it's price for a short while, or tried reducing costs by laying off a worker or two since business was clearly not doing so well to begin with (Yelp 2012). Gobi Brighton is an all-you-can-eat restaurant located in Brighton, England that recently kicked out two customers for e ating too much and claimed they were putting the restaurant out of business.Not only does common buffet pricing strategies suggest it is very unlikely that two over-eating customers alone could do this, but Gobi Brighton could have improved business a number of ways since it isn't a perfectly competitive firm. Perhaps instead of marketing itself as an all-you-can-eat restaurant, Gobi Brighton may want to consider switching to an a la carte service, especially if they feel like their business is threatened by the very demographic that buffet restaurants appeal to most.

Suicide Death Of The United States - 2008 Words

Suicide is the 10th leading cause of death in the United States. There are approximately 121 successful suicides a day, and 44,193 a year. Almost 50% of suicides are committed with a firearm. Seven out of ten suicides are committed by white middle aged men. It is proven that men die from suicide 3.5 times more than women; however, it is documented that women try three times more. Over the past 17 years’ suicide rates have increased steadily. Suicide rates are higher in people who are 34 and older. Whites currently hold the highest suicide rate. The most popular form of suicide is with a firearm it accounts for 49.8%. Second is suffocation at 26.8%, then poisoning at 15.4%, and other at 7.9%. No count is kept for people who attempted†¦show more content†¦Altruistic suicide occurs when there are dramatic social forces. An example would be a plane crash, the people who commit suicide feel that they are doing it for the better of their organization or themselves. A few re al-life examples of this would be 9/11, the Pulse night club shooting, and the Sandy Hook Elementary shooting. Egoistic suicide occurs when a person feels detached from society. Many elderly people who live in nursing homes feel detached from society. They went from cooking, cleaning, and going to work every day to not having a say in what they do or when they see their family. For some people this is too much and they become suicidal. Fatalistic suicide occurs when people feel that they have no control over their world. An example would be when Trump was elected president, for some people this would have been too much to handle and it would have put them over the edge. Another example could be a prisoner, if someone is on death row and they have sat there for twenty plus years, sometimes they would rather die than sit there another day. Depression can also be a cause of someone being suicidal. There are many causes for depression including mental illness, loss of a loved one etc.. .. When someone is depressed a chemical change in their brain. In other words, it is not something you can just wake up and get over, 10% of people will experience depressionShow MoreRelatedThe Death Of The United States Suicide Essay2229 Words   |  9 PagesJackson State University November 28, 2016 HISTORY In the United States Suicide is the 10th leading cause of death. Each year 42,773 Americans die by suicide. Suicide costs the U.S. $44 Billion dollars annually. The annual age-adjusted suicide rate is 12.93 per 100,000 individuals. Men die by suicide 3.5x more often than women. On average, there are 117 suicides per day. White males accounted for 7 of 10 suicides in 2014. Firearms account for almost 50% of all suicides. The rateRead MoreThe United States Of America1536 Words   |  7 PagesThe United States of America is well known throughout the world for tis democracy ant the freedoms of its citizens. Since declaring its Independence from Great Britain rule in 1776, the United States of America has undergone a continuous effort to maintain law and order. In order to create a strong federal government with a system of check and balances the Constitution was proposed and ratified. The Constitution of the United States became the Supreme law of the land. (The Constitution) We t heRead MorePersuasive Essay On Gun Control1086 Words   |  5 PagesAmericans will be shot dead today. It is the 12th leading cause of death in the United States. According to a recent study, the gun homicide rate in the United States is 25 times higher than in other wealthy countries (guardian.com). Sadly, most Americans are divided on whether the country should enforce stricter gun laws. Many, especially the Liberals, feel as though having firmer gun laws would significantly reduce the number deaths caused by gunshot. In contrast, the Conservatives feel that passingRead MoreThe Centers For Disease Control And Prevention Released1181 Words   |  5 PagesDisease Control and Prevention released a suicide report in 2015 stating that in The United States, suicide is the 10th leading cause of deaths. As many as 44,193 individuals have died per year, which means there is about 123 suicide deaths a day happening as of now in The United States (â€Å"Suicide Statistics†). This is only the statistics of deaths that have been successful in The United States, it is not counting all suicide deaths around the world nor suicide attempts. This alone is already a majorRead MoreThe And Target : Reduce Suicide Rates1431 Words   |  6 Pages LHI and Target: Reduce suicide rates from 11.3 to 10.2 per 100,000 population Target Population: Montana residents 5-14 years old Determinants: Age group, sex, race/ethnicity, geographic location The Centers for Disease Control and Prevention (CDC) National Vital Statistics reported that Suicide was the 10th leading of cause of death within the United States in 2013, accounting for approximately 41,149 deaths per year or 112 deaths per day (Centers for Disease Control and PreventionRead MoreAssisted Suicide Is Not Common For All Areas Throughout The United States890 Words   |  4 PagesAssisted Suicide Imagine being diagnosed with a life-ending disease and experiencing such excruciating pain that doctors say cannot be healed. Pain is a terrible thing to experience, especially when it is permanent. What can be done to relieve that pain? What if the only option to rid the pain from the patient is death? No one knows how that feels until it happens to them, that is why assisted suicide is used. Assisted suicide is a practice throughout most of the United States that terminatesRead MoreWhat Is The Total Population In The City Of Murphy, Texas?1628 Words   |  7 Pages, 2017.) and the â€Å"United States population as of today, October 3, 2017 of 326,102, 454† (Bureau, U.C., 2017). There was data for The State of Texas on the United Census Bureau’s website, for July 1, 2016, but there was not a comparison for Murphy, Texas so the last comparison was April 1, 2010. As of April 1, 2010, there were â€Å"9.6% of children under the age of five years old in the City of Murphy, Texas and 7.7% in the State of Texas† (Bureau, U.C., 2017.). â€Å"The United States report stated â€Å"6.5%Read MoreSuicide During The United States781 Words   |  4 PagesIn 2014, suicide was the tenth leading cause of death overall in the United States. According to the National Institute of Mental Health (NIMH, 2015), there were twice as many suicides than there were homicides. Suicidal ideation (SI), defined as an individual thinking about, considering, or planning their suicide, is established before the act of committing suicide. Research suggests that adverse childhood experiences (CDC, 2015) will put an individual at risk for developing a mental illnessRead MoreShould Physician Ass isted Suicide Be Legal?847 Words   |  4 PagesShould-Physician Assisted Suicide Be Legal In Every State When it comes to the topic of, should physician-assisted suicide be legal in every state, most of us will readily agree that it should be up to a terminally ill person to make that decision. Whereas some are convinced that it is inhumane, others maintain that it is a person’s decision to end their own life. I agree that physician-assisted suicide should be legal in every state because in most cases, people that are terminally ill should haveRead MoreCauses of Suicide Essay1617 Words   |  7 PagesCauses of Suicide *No Works Cited Suicide can best be described as the destructive act of voluntarily taking ones own life. Suicide often presents a real and often tragic puzzle to be solved by friends and family, and any other professionals who have been involved with someone who has committed suicide. To be able to definitively answer the question as to why an individual would commit such a deadly act seems to be a highly complex task. The victim himself