About This Chapter
Below is a sample breakdown of the Managing a Product & Retailing chapter into a 5-day school week. Based on the pace of your course, you may need to adapt the lesson plan to fit your needs.
|Day||Topics||Key Terms and Concepts Covered|
|Monday||New product development; types of new products||How to develop new products; differences between new products, new product lines, improved products, repositioned products and lower-priced products|
|Tuesday||Customized marketing mixes||Creating a marketing mix for individual cultures and countries|
|Wednesday||New product adoption||How new products are adopted by consumers; the four classes of adopters (innovators, early, late and laggards)|
|Thursday||Product life cycles; retailing||The development, design and beyond stages of a product life cycle; retailing's role in marketing|
|Friday||Retail segments; retail marketing mix||How different retail segments are used to reach target markets; differences between a retail marketing mix versus a traditional marketing mix|
1. How to Develop and Market New Consumer Products
In this lesson, you will learn the six stages of the new product development process that companies use when they develop new consumer products. You'll also learn why it is important for companies that develop new consumer products to use this process.
2. Types of New Products: New Product Lines, Product Improvements & More
You will learn about the types of new product categories, such as new product lines or repositioned products, and the new product development process, from idea generation to commercialization.
3. How to Create a Marketing Mix for Individual Cultures & Countries
In this lesson, you will learn how companies modify their domestic marketing mix to suit the unique needs and norms of foreign cultures and countries. Companies may find it necessary to modify their current product, their current promotional message, or both.
4. How a New Product is Adopted by Consumers
In this lesson, you will learn the five stages consumers go through to determine whether or not to adopt a product that is new to the marketplace. You will also learn why it is important for companies introducing new products to understand the adoption process their customers use.
5. Classes of Adopters: Innovators, Early, Late and Laggards
In this lesson, you will learn how innovative products are adopted by consumers. You will learn the five classes of adopters and the role each plays in this process. You will also learn why it is important for marketers to understand this process in order to successfully introduce innovative products to the marketplace.
6. Product Life Cycles: Development, Design and Beyond
Have you ever considered that products, like humans, have a life cycle? You will learn about product life cycles and how they are designed and developed. See how a product goes from its introduction to being retired.
7. Retailing's Role in Marketing: Definition and Dimensions
When you start a retail store, there are many things to consider, from the type of service you'll offer to the scale of the business. In this lesson, you will learn about retailing's role in marketing and the different forms retail stores can take.
8. Retail Segments, Target Markets and Marketing Strategies
In this lesson, you will learn how to identify four different retail segments and gain an understanding of how producers of goods and services use different types of retailers to reach the different target markets that buy their products.
9. Retail Marketing Mix vs. Traditional Marketing Mix
In this lesson, find out how personnel and presentation round out the traditional four Ps of the marketing mix to create the retail marketing mix. Then, follow along as our farmer implements the six Ps into a new retail store.
Earning College Credit
Did you know… We have over 160 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.
To learn more, visit our Earning Credit Page
Transferring credit to the school of your choice
Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.
Other chapters within the Principles of Marketing Syllabus Resource & Lesson Plans course
- Marketing Philosophies & Ethics: Lesson Plans
- Competitive Advantage: Marketing Lesson Plans
- The Marketing Environment: Lesson Plans
- International Marketplace: Marketing Lesson Plans
- Consumer Decision Making: Marketing Lesson Plans
- Business Marketing & Research: Lesson Plans
- Segmentation & Product Marketing: Lesson Plans
- Services Marketing, Channels & Supply Chain Management: Lesson Plans
- Promotion, Advertising & Public Relations: Marketing Lesson Plans
- Selling & Pricing Strategy: Marketing Lesson Plans