“The creation, identification and satisfaction of customer needs at a profit” Chartered Institute of Marketing “Marketing is looking at the business through the customer’s eyes” Peter Drucker “Human actively directed at satisfying needs and wants through exchange processes” Philip Kotler –Making customers aware that a condition exists –Making customers aware there is a (better) way of treating a condition •Market Penetration –Promoting your product in a new segment –Taking your product to a new customer group •Market Financing –Creating budgetary space Increasing purchasing power
Product Development Strategies •Product Positioning / Proposition (Real life examples) –Strengthening and developing competitive advantage –Correcting and minimizing competitive disadvantage •Product Line Extension –New indication –New dosage / formulations / combinations –Innovative packaging development •Product + Services –Clinical / information / educational services Providing devices or services to customers
•Where do I start? •What are my key steps or activities? •How long will each step or activity take to complete? •Which steps or activities are dependent on the steps) before? (Series) •Who do I need to contact? •Which steps or activities can be run together at the same time ? (Parallel) •How often should I review and measure progress? •Is there a critical path?
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