1ZEUA0 (New Product Marketing)- Lecture Slides Summary
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Course
New Product Marketing (1ZEUA0)
Institution
Technische Universiteit Eindhoven (TUE)
A summary of the important points from the lecture slides of 1ZEUA0 - New Product Marketing. It includes Session 1 till Session 10. The key points of the mandatory articles are also included. There are tables, diagrams and bullet points of the crucial information from the lecture notes.
Lecture Notes Summary 1ZEUA0:
New Product Marketing
Session 1: The nature of marketing
“Marketing is the delivery of value to customers at a profit .” (Fahy & Jobber)
There are 3 value
disciplines in
marketing:
1. Product
leadership
2. Customer
intimacy
3. Operational
excellence
Operational excellence: Creating lowest total cost for the customer.
- Innovation focusses on processes
Product leadership: Developing new value adding products and services.
- Innovation focusses on products and services
Customer intimacy: Close relationship with customer by delivering custom specific total
solutions. (Customer centric innovation)
- Innovation focusses on processes, products and services
Operations simple , standardized , Operations: focus on developing total
integrated logistics R&D, product solutions , result and
development and relationship oriented
marketing management
Management Systems integrated , reliable , result driven , measuring
fast , conforming to and rewarding of new
industry norms product successes
HRM/Culture HRM/Culture: teamwork stimulating initiatives customer oriented ,
with a battleplan , waste and creativity , little empowerment
is capital sin , efficiency bureaucracy , fast
is rewarded decision processes
Marketing/ Customer standardized , one size cultivating relationship
Service fits all with customer,
assessment on life time
value not on separate
, transaction
Business Structure loose , plenty of decision power with
entrepreneurial employees closest to
initiatives customers
“Not to innovate is to die!”
Marketing orientation : Implementation of the marketing concept.
Production orientation: Fits production and selling area.
, Marketing orientation Production orientation
Customer concern throughout Convenience comes first.
business. Assume price and product performance
Know customer choice criteria and key to most sales.
match with marketing mix. Cherish status quo (current situation).
Welcome change. Rely on anecdotes and received
Invest in market research. wisdom.
Try to understand competition. Ignore competition.
Reward innovation. Punish innovation.
Be fast. Why rush?
Efficient and effective. Efficient.
Marketing Planning Process:
Mission = identity of the organization, provides a consistent set of norms and values – raison d’etre
Vision = mission of the future, where does the organization want to go – the ambition.
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