Materi Ke 11 Pengantar Bisnis Prodi Ilmu Komputer FBI

Summary

This lecture provides an overview of key concepts in business, focusing on product identification, opportunities for new product launches, and strategies for product development. It discusses how products, both tangible and intangible, are marketed to satisfy consumer needs. The script highlights the importance of external and internal analysis, such as PESTEL and Porter’s Five Forces, for identifying market opportunities. It also explores the process of market segmentation, targeting, and positioning (STP), the role of product differentiation, and the stages of new product development. Emphasis is placed on careful analysis to avoid costly missteps in launching new products.

Takeaways

• 😀 Products can be tangible or intangible, including physical goods, services, experiences, events, personal goods, places, properties, organizations, information, and ideas.
• 😀 Product launch involves several stages, including identifying opportunities and analyzing both internal and external factors.
• 😀 External analysis like PESTEL and Porter’s Five Forces is critical to understanding market opportunities and threats.
• 😀 Identifying market opportunities requires research on consumer needs, existing solutions, and satisfaction levels with current products.
• 😀 Companies must evaluate market potential by considering Total Available Market (TAM), Available Market, and Share of Market (SOM).
• 😀 Companies have the option to be pioneers or followers in launching new products. Pioneers can dominate the market through consumer education and higher market share.
• 😀 Product launches are not just about the product but also about branding, as branding seeks to create a specific consumer positioning in their mind.
• 😀 The STP strategy (Segmentation, Targeting, Positioning) is crucial for determining how to launch and position a product in the market.
• 😀 The perceptual map helps identify a brand’s position in the market and avoid direct competition with dominant brands in oversaturated segments.
• 😀 Key aspects of a product strategy include differentiation (point of differentiation), product line width, depth, and overall design, including packaging and ingredients.
• 😀 The product development process must be carefully managed with a clear stage-by-stage decision-making framework to ensure investments bring positive results.

Q & A

What is the definition of a product in a business context?

In business, a product refers to anything that can be offered to the market to satisfy consumer wants or needs. This includes physical goods, services, experiences, events, personal items, places, properties, organizations, information, and ideas.

How has the concept of products evolved over time?

The distinction between products and services has blurred over time. Products and services are no longer viewed separately, but as a combined offering in many cases. This evolution reflects the growing complexity and integration of business offerings.

What are some key types of product initiatives mentioned in the transcript?

The key types of product initiatives include cost reduction (13%), brand repositioning (7%), improvements or developments of existing products (26%), new products for the company (20%), and new-to-the-world products (10%).

What role does external and internal analysis play in identifying new product opportunities?

External and internal analyses are critical in identifying new product opportunities. External analysis, such as PESTEL and Porter’s Five Forces, helps identify market opportunities and potential threats. Internal analysis assesses the company's strengths and weaknesses, guiding strategic decisions.

What is the significance of the opportunity and threat matrix in product planning?

The opportunity and threat matrix helps evaluate potential market opportunities by assessing their attractiveness. It guides businesses in determining which opportunities to pursue or avoid, based on factors such as consumer demand, competition, and external threats.

How is market potential estimated in the process of product development?

Market potential is estimated by analyzing the target market population and estimating maximum sales potential based on marketing efforts and market conditions. This involves calculating the total available market, available market, and share of market.

What is the difference between total available market (TAM), available market (AM), and share of market (SOM)?

TAM refers to the maximum potential sales across all companies in an industry, while AM is the actual sales made by players already in the market. SOM represents the market share a company can capture within the available market.

Why is it important for companies to decide whether to be pioneers or followers in the market?

Deciding whether to be a pioneer or a follower is crucial for a company’s market strategy. Pioneers enjoy the benefit of educating the market and establishing brand loyalty, while followers can leverage the pioneer’s efforts but face tougher competition.

What is the role of STP (Segmentation, Targeting, Positioning) strategy in product development?

The STP strategy helps companies segment the market, target specific consumer groups, and position their product in a way that resonates with the chosen target segment. It is a framework for determining how to effectively reach and influence the intended market.

What is a perceptual map and why is it used in positioning products?

A perceptual map is a visual representation that shows how consumers perceive various brands in relation to each other within a market. It is used to help companies identify their position in the market and avoid direct competition with dominant brands.