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Brand Manager
- Individual assigned to develop and implement effective and efficient marketing programs for a specific product or group of products
- Eg. Crest as a whole
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Category Manager
- Individual assigned to develop and implement effective and efficient marketing programs for group of related products or product lines
- Eg. Whitestrips products
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Global Manager
- Act locally, think globally.
- World is one BIG market
- High use of benchmarking
- Eye on trends
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Idea Generation
- Brainstorm
- Screening
- Concept development
- Business analysis
- Product development
- Test market and market planning
- Commercialization
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Product Mgmt Strategies
- Product Modification
- Product mix
- Packaging
- Maintenance or withdrawal
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Product Modification
- Change style or look
- eg cars always change every year
- Change colour, function, quality
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Product Mix
Product stretching, addition to product line to increase its width or depth
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Packaging
- First thing consumer sees
- mkting tool
- should be changed on occasion
- helps regenerate image
- eg. diamond shreddies
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Maintenance or Withdrawal
- Keep product on mkt or cut its lifetime
- eg. GM and Oldsmobile
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Product Stretching
addition to product line to increase its width or depth
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Product Lifecycle
- Stages a prodcut goes through from intro to withdrawal
- Intro, growth, mature, decline
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Intro Stage
- Focus on awareness
- Slow sales growth
- losses instead of profits often occur
- high mkting cost
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Growth Stage
- USP, differentiate
- Sales and profits up drastically
- competitors begin to appear
- mkting costs high, AGGRESSIVE mkting
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Mature Stage
- brand loyalty is focus
- product is well known
- sales and profits are stable
- mkting budget cut and relocated (promotions, giveaways...)
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Decline Stage
- Withdrawal strategy
- Sales drop rapidly
- price cuts (liquidate everything)
- allocate profits to other products
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How to avoid decline?
- Go on offensive in MATURE stage
- Don't sit back
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Extend Life Cycle
- Attract new mkts
- Alter the product
- Add new products
- Change other mkting mix elements
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Attract New Markets
- go for people with different demographic profile
- extend geographically
- Eg. Cadbury thins
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Alter the Product
Product modification
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Add New Products
Product Stretching
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Change other Marketing Mix Elements
- price up or down
- promotion, advertising, direct response, social media
- Placement, make product more available in more places (internet)
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Instant Bust
- Flops after intro
- Eg. Pepsi AM
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Fad
- 1-2 years, short term
- Eg. Atkins diet, rubiks cube
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Fashion
- Recurring
- in, out, in
- eg, cycle of clothes
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Brainstorm
Accept ALL ideas, dont shoot any down
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Screening
Take out ideas that don't/won't work
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Concept development
- Product idea presented to potential tgt mkt for evaluation
- Focus groups
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Business analysis
- Potential sales, costs, ability to produce
- Can it make money?
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Product development
Prototype made available to consumer for evaluation
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Test market and market planning
- Product offered for sale on 1 or more mkts
- observe promotion under proposed mkt strategy
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Commercialization
Full scale production and mkting occurs
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