PRODUCT MANAGEMENT

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First found May 22, 2018

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PRODUCT PLANNING
Marketing Management
Session 7 and 8
October 13 and 27, 1999
SESSION OUTLINE
• Positioning: review of concepts and
perceptual maps
• Video case: « Creating Bread »
• Brief review
• Theoretical concepts of product
management
• Managerial concepts
• Video: « Marketing a Product Range »
POSITIONING
• Part of the marketing strategy which allows
to give the product/service its own identity
• Positioning is a competitive tool
• Positioning can be operated at the physical
level or at the perceptual level
• A strong position in buyers’ minds gives the
product a competitive advantage
PERCEPTUAL MAPS
• Indicate where a product stands in buyers’
minds relative to its direct and indirect
competitors
• Horizontal and vertical axes are perceived
relevant dimensions of the product category
• Distances between two brands are perceived
competitive distances
• Ideal tool for positioning strategies
POSITIONING STRATEGIES
• Move brand closer to ideal point
• Move ideal point closer to brand
• Change relevance of dimensions
• Introduce a new brand close to ideal point
REVIEW
• Planning the marketing strategy involves:
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Situation analysis and setting objectives
Market segmentation
Selecting target market(s)
Defining a positioning strategy
Developing the marketing mix
MARKETING MIX
• Controllable variables:
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Product
Price
Promotion
Place
MARKETING MIX
Product
Price
Place
Promotion
Controllable Variables
MARKETING MIX
Engineering
Product
Price
Accounting/
Finance
Operations Place
Promotion
Sales
THEORETICAL CONCEPTS
• Definition of a product
• Product classifications
• Product life cycle
DEFINITION OF A PRODUCT
Central
product
Tangible product
Augmented product
INTANGIBLE GOODS
• Simultaneous consumption and production
• Wide variations in demand over short
periods of time
• Many different types of services:
– continuous services (electricity, telephone)
– produced by a person (banking)
– produced to a person (doctor, hairdresser)
MANAGERIAL DECISIONS
• Elements of the product:
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product attributes
brand name and logo
packaging and colours
format
labelling
product-support services
MANAGERIAL DECISIONS
• Managing an existing product line
• Developing and introducing new products
• Organizing the marketing department
NEXT SESSION
•
•
•
•
Chapter 9
Product life cycle
New product introductions
Case presentations: The launch of mbanx,
teams 3, 4, 9, and 10
• Video case: Profiting from the net
Office hours for mid-term
• Please see Prof. Mark A. Tomiuk, room
4.756, tel. 340-6415
• [email protected]
• Tuesday, Oct. 20, 10 a.m.-12 p.m.
• Wednesday, Oct. 21, 10 a.m.-12 p.m.
• Thursday, Oct. 22, 10 a.m.-12 p.m.
Mid-term exam
• Saturday, October 23
• 1:30 p.m. - 3:30 p.m.
• Material covered:
– chapters 1, 2, 4, 5, 6, and 20
– video cases (Race to Market, Looneyspoons,
Tough to Reach, Creating Bread)
– cases (Fottle and Omega Paw)
Format of Mid-term
• 10 True-false questions with short
justification (15 points)
• 2 short answer questions - you choose
among 3 questions (10 points)
• read the instructions carefully
• read the question
• answer the question
• good answer + wrong question = 0
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