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The Context of New Product Development

Chosen topic: Toyota Prius. The Context of New Product Development. Joep Wijnands, Jordy Wubbels & Maarten Geraets. Why these techniques?. Means-end chain How do they want their product to be seen and communicated? Boston Consultancy Group Matrix

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The Context of New Product Development

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  1. Chosen topic: Toyota Prius The Context of New Product Development Joep Wijnands, Jordy Wubbels & Maarten Geraets

  2. Why these techniques? • Means-end chain • How do they want their product to be seen and communicated? • Boston Consultancy Group Matrix • Overview of market share and future opportunities • Positioning • Position compared to competitors

  3. Means-end chain

  4. Means-end chain • End value is reason to purchase • Advertising the right characteristics connects to consumer wants and makes them buy • How to communicate your product • Laddering to uncover means-end chains

  5. Boston Consultancy Group Matrix

  6. Boston Consultancy Group Matrix • Based on product-life-cycle theory • Basic Idea • Portfolio of product • Different parts • Advantages/Disadvantages

  7. Positioning

  8. Positioning • brand/product position as compared to your competitors • relationship between competitors and the criteria used by your consumers while making purchase decisions • simple overview with graphic figures

  9. What next? • Means-end chain • End value of Prius for consumer • Toyota’s way of communicating their product • Boston Consultancy Group Matrix • Market share of Hybrids and their future • Positioning • Compare the Prius with competitors concerning different aspects

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