(response times, error rates) o LOAD
o Enables OBJECTIVE PROJECT SELECTION
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PERFORMANCE TESTING o MEASURE (response times, error rates) o LOAD (component wear, calibration) o LIMIT (scalability, spikes, hot spot) TEST MARKETING o STANDARD test market (full marketing campaign in a small number of representative places) o CONTROLLED test market (few stores have agreed to carry new products for a fee) o SIMULATED test market (test in a simulated shopping environment to a sample of consumers) PRICING STRATEGIES o PRICE relative to VALUE o PRICE relative to FEATURES/BENEFITS o Setting a HIGH PRICE to allow for CONTROLLED DISCOUNTS o PENETRATION (low-priced product to GAIN MARKET SHARE) o SKIMMING (charge high price for EARLY ADOPTERS new product, e.g. Apple) SUCCESSFUL PROMOTIONS o Give the PRODUCT A NAME o Nail down the “WHAT IS IT?” DESCRIPTION (i.e. ELEVATOR PITCH) o Establish a STRONG VISUAL IDENTITY and a VALUE PROPOSITION o Be “EFFECTIVELY CREATIVE” PRODUCT LAUNCH STRATEGY
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PERFORMANCE TESTING o MEASURE (response times, error rates) o LOAD (component wear, calibration) o LIMIT (scalability, spikes, hot spot) TEST MARKETING o STANDARD test market (full marketing campaign in a small number of representative places) o CONTROLLED test market (few stores have agreed to carry new products for a fee) o SIMULATED test market (test in a simulated shopping environment to a sample of consumers) PRICING STRATEGIES o PRICE relative to VALUE o PRICE relative to FEATURES/BENEFITS o Setting a HIGH PRICE to allow for CONTROLLED DISCOUNTS o PENETRATION (low-priced product to GAIN MARKET SHARE) o SKIMMING (charge high price for EARLY ADOPTERS new product, e.g. Apple) SUCCESSFUL PROMOTIONS o Give the PRODUCT A NAME o Nail down the “WHAT IS IT?” DESCRIPTION (i.e. ELEVATOR PITCH) o Establish a STRONG VISUAL IDENTITY and a VALUE PROPOSITION o Be “EFFECTIVELY CREATIVE” PRODUCT LAUNCH STRATEGY
