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Formulating productFormulating product
planningplanningModule 4
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Developing
product strategy• What is an industrial product? – Basic properties
– Enhanced properties
– Augmented properties
• Product strategy involves continual change
• Industrial product management
– Product manager diferences
– Product s mar!et management
• Product"mar!et management systems
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• Industrial product li#e$cycle analysis
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• Applying the P%& theory to industrialproduct strategies
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• Industrial product li#e$cycle strategies
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– Introduction stage
– 'ro(th stage
– Maturity stage
– Decline stage
– %ocating industrial products in their li#e cycles
• Developing product strategies #or
esta)lished products – Product evaluation matrices
– Perceptual mapping in product evaluation
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• Product revitali*ation decisions
– Identi#ying causes #or poor productper#ormance
– Identi#ying alternative corrective actions
– Product elimination decisions
• +ystems mar!eting
–+ystem mar!eting is service mar!eting
– ,he elements o# systems mar!eting
– Bene-ts o# systems mar!eting
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• Pro#essional service mar!eting. pro)lemsand strategies
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