Managing Products for Business Markets

Group Members:Goldy Kajal Managing Products for Business MarketsOutline Core Competencies: The Roots of Industrial ProductsProduct QualityProduct PolicyPlanning Industrial Product StrategyBuilding a strong brandThe Technology Adoption Life Cycle Price / PerformanceCore CompetenciesIdentifying Core CompetenciesProvides potential access to an array of marketsAn important contribution to the benefits customers perceive in the firms end productsDifficult for competitors to imitateSustaining the leadHow rare is our competence?How long will it take your competitors to develop the competence?Can your competitors easily understand the source of your advantage?

Core Competencies & Selected Products at CanonFrom Core Products to End ProductsLink between core competencies and end productsContribute to the value of end productsExploring Selected Core CompetenciesWhat important benefits do our core competencies allow us to deliver to customers?How could we combine our competencies in existing new ways to deliver more value to existing customers or to serve new customers segments in other industries?Experiment with product strategy!Product QualityMeaning of QualityMeaning of Customer ValueBenefitsCore BenefitsAdd-on BenefitsSacrificesWhat matters most?Add-on benefitsReducing customers costsProduct Support Strategy: The Service ConnectionProduct PolicyTypes of the Product Lines DefinedProprietary or Catalog ProductsCustom-built ProductsCustomer-designed ProductsIndustrial ServicesDefining the product marketCustomer function dimensionTechnological dimensionCustomer segment dimensionValue-added system dimension

Planning for Today and TomorrowA clear, precise definition of the businessShaping up the business to meet the needs of todays customers with excellenceSeeing Whats NextNonconsumersUndershot CustomersOvershot CustomersPlanning Industrial Product StrategyProduct PositioningThe ProcessIsolating Strategy OpportunitiesProduct Positioning IllustratedA New StrategyBetter TargetingSteps in the Product Positioning ProcessSelect Positioning or Repositioning StrategyBuilding a strong brandStrong Brands Promise and deliverA means of DifferentiationBuilding Brand EquityBrand PersonalityDoes Brand Building Pay Off?Drivers of Brand Attitude ChangeThe Technology Adoption Life CycleDiscontinuous InnovationsTypes of Technology CustomersThe ChasmStrategies for the Technology Adoption Life CycleThe Bowling AlleyA focused StrategyThe TornadoTornado StrategyMain StreetMain Street StrategyCaseNCR Self-Checkout Systems NCR Self-Checkout SystemsNCR Fast LaneAn enhanced self-checkout solution that enabled retailers to deploy self-service technologyInitial adopters were food retailers , home improvement and whole sale club retailersNCR conducted focus-group interviewsOffers a small footprint in the store and can be easily upgraded to feature small & large-order bagging areas Incorporates leading NCR technologiesFast Lane Mini for space-constrained locations such as convenience stores

Discussion QuestionsAlthough consumers consistently rank long checkout lines as their number one shopping complaint, many retailers found that shoppers are not using the self-service checkout option to the degree that they had hoped. What steps can retailers take to spur adoption by shoppers, and how could NCR assist?How might NCR use the technology adoption life cycle as a guide in developing a market strategy for FastLane? Thank You