NDP & Pricing
9 important questions on NDP & Pricing
A product consists of 3 levels. What are these levels?
- Core product: perceived or core benefit
- Actual product: composite of features, capabilities, quality, design, packaging and brand name.
- Augmented product: support including customer service, warranty, delivery, installation ect.
What are 4 different tools to analyze product portfolios?
- ABC Analysis
- Product lifecycle
- BCG product portfolio analysis
- Market attractiveness business postion model
Not all products are equally new. In which 3 categories can we classify new products?
- New to the world: creating a new product category
- New to the company: entering a new product category
- Line extensions: new varieties in a product line
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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In addition to new products we can improve existing products through innovation. What 3 types of innovation do we distinguish?
- Improvements
- Repositioning
- Cost reduction
The model of the development of process shows a very linear process. An alternative is the 'Rugby approach'. How does this approach work?
Constant interaction among interdisciplinary team members.
If we ask consumers what they want, they will say they want it all. We want to get insights in the trade-offs the consumers make. What type of analysis can be helpful in this process?
On which 6 factors can price selection be based?
- Cost
- Demand
- Competition
- Marketing-oriented: complex balanced approach
When is differential pricing appropriate?
In new product pricing we see often one of two strategies. What are they?
- Price skimming: (high development cost, inelastic) start high and reduce
- Penetration pricing: begin low and increase. Gain market share rapidly (high elastic)
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
