Service = Experience - Expect

Marketing

AJAL JOSE AKKARA

Orientation Stage

“make all you can”

“sell all you make ”

“make what you can sell”

“make it together with the customer”

Co-CreationCo-Creation

Stages in the New Development Process

THE NEW-PRODUCT PROCESS-Business Analysis

• if positive, build a prototype

Considerations in Considerations in

Business Analysis Business Analysis StageStage

Considerations in Considerations in

Business Analysis Business Analysis StageStage

Demand

Cost

Sales

Profitability

Launch StrategiesLaunch Strategies

Launch plan If product is being announced

Promotion budget Supply backup material with detailed budget

information for review

Public RelationsPublic Relations

Strategy and execution PR strategies PR plan highlights Have backup PR plan including editorial

calendars, speaking engagements, conference schedules, etc.

AdvertisingAdvertising

Strategy and execution Strategy media and timing ad spending

PromotionPromotion

Direct marketing Overview of strategy, vehicles, and timing Overview of response targets, goals, and budget

Third-party marketing Co-marketing arrangements with other

companies Marketing programs

Other promotional programs

PricingPricing

Pricing Summarize specific pricing or pricing strategies Compare to similar products

Policies Summarize policy relevant to understanding key

pricing issues

DistributionDistribution

Distribution strategy Channels of distribution

Summarize channels of distribution Distribution by channel Show plan of what percent share of

distribution will be contributed by each channel – a pie chart might be helpful

Vertical Markets/SegmentsVertical Markets/Segments

Vertical market opportunities Discuss specific market segment opportunities Address distribution strategies for those markets

or segments Address use of third-party partner role in

distribution to vertical markets

InternationalInternational

International distribution Address distribution strategies Discuss issues specific to international

distribution International pricing strategy Localization issues

Highlight requirements for local product variations

Success MetricsSuccess Metrics

Initial goals SWOT analysis Additional goals Measures of success/failure Requirements for success

“4Ps” “5Ps”

- Product

- Price

- Promotion / communication

- Place / distribution

“People”

“7Ps”

“4Ps”

• People

• Physical Evidence

• Process

1. Product or service Image (Identity)2. Distinguish goods or services among others3. Play a pivotal role in the branding/marketing Strategy 4. Can be extended to any country5. Defines a certain image - builds a reputation6. Is a marketing tool - enabling licensing & franchising7. Is a valuable IP business asset8. Encourage companies to invest, maintain and improve product quality9. Once protected, are useful for obtaining financing10. Can be put in the stock exchange

10 POINTS

QoS

• Customer satisfaction / QoS is a main factor that impacts customer retention

Invest in good hiring and

training procedures

Monitor

customer satisfaction

Standardize the

service-performance process

Service characteristics

INTANGIBILITY

PERISHABILITY

INSEPERABILITY

VARIABILITY

Customer is unable to experience the‘product’

prior to ‘purchase’

Services cannot be stored for later sale or use

Production & consumption

happen at the same place and cannot be separated

Difficulty in establishing consistency in quality