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This 2 page Class Notes was uploaded by Petey Martin on Saturday November 14, 2015. The Class Notes belongs to MKT 203 at University of Rochester taught by HOPE V in Summer 2015. Since its upload, it has received 14 views. For similar materials see PRINCIPLES OF MARKETING in Marketing at University of Rochester.
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Date Created: 11/14/15
Petey Martin Notes (11-10-15) Products Part I o Marshall McLuhan The Medium is the Massage. Branding of eggs, directly on the egg. you. The wheel is an extension of the foot; the book of the eye; clothing of the skin; electric circuitry of the central nervous system. Products Part II III & IV o Products Part 2 Packaging Owning the shape. Ex. Coke bottles. Efficiency of design shape. Ex. Coke 12 pack. o Depth equal to refrigerator. o Gravity-driven punch out shape. o Limited wasted materials. Imitation of packaging. Ex. Wegmans. “Grip Idea” Ex. Maxwell House to Folgers to Wegmans. “Pop tops” Ex. Tuna cans. Pocket-size. Ex. Altoids mints. o Products Part 3 Key Ideas About NEW PRODUCTS Many products fail = not based on well-conceived customer requirements. Products Most Likely to fail for internal reasons. The Exquisitely Engineered Solution – to a problem that doesn’t exist. Impacting The Customer Adoption Process – Awareness o Grasp people’s attention. Interest o Target their needs and values. Evaluation o Give people a reason to switch what they’re doing. Trial o Get people to try the product. Adoption o Get people hooked on the product. Customers react with different response rates to new products. Important to attract the early adopters who influence the market. o Innovator/Pioneer o Early Adopter o Middle o Late Middle o Laggard Technology Diffusion Rates Time vs. Market Penetration o Ideal: Quick Market Penetration.
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