BRAND EQUITY

Brand assets Customer loyalty Brand awareness Perceived quality Brand associations Proprietary assets-trademark,channel relationships

New product development

Booz,Allen,Hamilton- classification of new products New to the world New product line------new to the organisation Additions to new product lines Improvements &revisions of existing products Repositioning Cost reductions FAILURE RATE-95% IN USA,90% IN EUROPE

Success factors
98%chance-unique superior product Moderate advantage-58% Minimal advantage-18% Well defined product concept to development Tech,mktg,synergy,market attractiveness

Why new products

Npd process 1.idea generation 2.idea screening 3.concept development & testing 4.marketing strategy 5.business analysis 6.Product development (development & commercialization) 7.marketing testing 8.commercialisation

Idea generation.
Brain storming Forced field analysis Morphological analysis

Concept development
Milk powder additive(develop concepts) User,usage,benefit Swatch disposable watch Product& brand positioning

Concept testing

Theoretical statement with price Believability Perceived value Use target,purchase occasion,frequency Gap level Purchase intention Conjoint analysis

New product development process

Marketing strategy (1-3 years) Business analysis-break even analysis,risk analysis,roi Product development Testing Alpha testing within the firm Beta testing-with select set of customers Consumer products- in home tests,lab tests

Market testing

Consumer goods Simulated test marketing 30-50 qualified buyers selected ,shown test commercial/advt, Given small money to buy, Nonbuyers are given free sampling Contacted again for attitude,satisfaction and repurchase intention

Npd process
Controlled test marketing Test marketing Test marketing Commercialization Regional roll out,national roll out