PRODUCT AND BRAND MANAGMENT

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Product Management sConcepts with the importance of Brand association for product

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Presentation Transcript

Welcome :

Welcome PRODUCT MANAGEMENT

What is a product ?:

A product is anything WHICH is capable of satisfying customer need. What is a product ?

PowerPoint Presentation:

PRODUCTS GOODS SEVICES Tangible products Intangible products

Features of product:

Features of product Features of product Associated attributes Intangible attributes tangibility Exchange value Customer satisfaction

Classifying Products:

Classifying Products Durable products Consumer products, Business products

Consumer Products:

Consumer Products Convenience Products Shopping Products Specialty Products . . To satisfy information needs & buying motives Unsought Products

CONVENIENCE GOODS:

CONVENIENCE GOODS Staples - Emergency goods – Impulse purchases – Convenience goods – consumers use minimal effort for frequently purchased low cost items.

Shopping Products:

Shopping Products Shopping goods - consumers make a considerable effort to evaluate … Consumers make product comparison(s), They seek information before purchase, they are not impulsive Moderate substitutions are made Product’s last a considerable time Monetary & social costs may be high

TV’s As a Shopping Product (2007 ---- 1950’s):

TV’s As a Shopping Product (2007 ---- 1950’s) Attribute-based Price-based PICTURE SIZE WARRANTY REMOTE CONTROL LOW PRICE Plasma –LCD screen observation Homogeneous products select on price Heterogeneous products select on benefits

Product and Brand:

Product and Brand Marketers develop their products into brands which help create unique position in the minds of customers. Brand help customers distinguish between products from different companies. Brand superiority leads to high sales, ability to charge premium price.

Product Line & Product Mix :

Product Line & Product Mix Mach 3 product item of Gillette. Product Item

:

LAMPS Table Ceiling Track Desk Product Line

PowerPoint Presentation:

Product Line 1 Product Line 2 Product Line 3 TABLES Kitchen Dining Room End Coffee Outdoor Conference Computer CHAIRS Dining Room Living Room Bedroom Outdoor Desk LAMPS Table Ceiling Track Desk Product Mix

Gillette’s Product Lines & Mix – Depth of a product line:

Gillette’s Product Lines & Mix – Depth of a product line Blades and Writing razors Toiletries instruments Lighters Mach 3 Series Paper Mate Cricket Sensor Adorn Flair S.T. Dupont Trac II Toni Atra Right Guard Swivel Silkience Double-Edge Soft and Dri Lady Gillette Foamy Super Speed Dry Look Twin Injector Dry Idea Techmatic Brush Plus Width of the product mix Depth of the product lines

Product mix:

P roduct mix Width Length D epth Co nsistency

Product Mix:

Product Mix The assortment of products that a company offers to a market Width – how many different product lines? Length – the number of items in the product mix Depth – The no. of variants offered in a product line Consistency – how closely the product lines are related in usage

CONCEPTUALIZATION OF PRODUCT MIX:

CONCEPTUALIZATION OF PRODUCT MIX Tata Motors Tata Steel Tata Tea BUS LORRY PLATES GEMINI TEA Tata DTH BARS CARS WIDTH D E P T H # of lines = 4 # of items = 12 A wide product mix facilitates one stop shopping Home Depot, Lowe’s

PRODUCT MIX EXAMPLE:

PRODUCT MIX EXAMPLE HAIR CARE SALTY SNACKS DENTAL CARE SOFT DRINKS Shampoo Conditioner Hair Spray Chips Nuts Crackers Tooth Brush Tooth Paste Dental Floss Cola Ginger Ale Root Beer Width (# of product lines) Depth (# of items)

Product mix stratagies:

Product mix stratagies Expansion of product mix Contracting or dropping the product mix Alteration of existing products Trading up/trading down strategies Product repositioning Eg : Prachute “ . Ghar ki Shanti ” Dabur India Ltd. Hajmola , Pudin Hara, Dabur Lal Tej

Product Life Cycle:

Product Life Cycle Managing Product Lines and Brands over time.

PowerPoint Presentation:

PLC Time Dollars Product Category Profits Product Category Sales Introductory Stage Growth Stage Maturity Stage Decline Stage 0

Introduction Stage:

Introduction Stage High failure rates Little competition Frequent product modification Limited distribution High marketing and production costs Negative profits Promotion focuses on awareness and information Intensive personal selling to channels

Growth Stage:

Growth Stage Increasing rate of sales Entrance of competitors Market consolidation Initial healthy profits Promotion emphasizes brand ads Goal is wider distribution Prices normally fall Development costs are recovered

Maturity Stage:

Maturity Stage Declining sales growth Saturated markets Extending product line Stylistic product changes Heavy promotions to dealers and consumers Marginal competitors drop out Prices and profits fall Niche marketers emerge

Decline Stage:

Decline Stage Long-run drop in sales Large inventories of unsold items Elimination of all nonessential marketing expenses Options for Deleting Products: Maintaining Deletion Harvesting Contracting

Marketing Strategies for PLC:

Marketing Strategies for PLC INTRODUCTION GROWTH MATURITY DECLINE Product Strategy Distribution Strategy Promotion Strategy Pricing Strategy Limited models Frequent changes More models Frequent changes. Large number of models. Eliminate unprofitable models Limited Wholesale/ retail distributors Expanded dealers. Long- term relations Extensive. Margins drop. Shelf space Phase out unprofitable outlets Awareness. Stimulate demand.Sampling Aggressive ads. Stimulate demand Advertise. Promote heavily Phase out promotion Higher/recoup development costs Fall as result of competition & efficient produc - tion . Prices fall (usually). Prices stabilize at low level.

Product brand and Product line Portfolios:

Product brand and Product line Portfolios Managing Brand and Product Line Portfolios.

Brand Concept Management:

Brand Concept Management Functional benefits - solve consumer related problems Symbolic benefits - needs for social approval or personal expression; “badge brands” Experiential benefits - sensory pleasure, variety

Managing Nivea’s Brand Portfolio:

Managing Nivea’s Brand Portfolio What is the US image of Nivea ? How did Nivea create a POD through associations of ‘mildness and gentleness” to the brand as a whole? To sub-brands? What role did the Blue Harmony ad campaign play in positioning the brand? What should be the next step for Nivea ?

Ansoff’s Product/Market Matrix:

Ansoff’s Product/Market Matrix 4. Diversification 2. Market development New markets 1. Market penetration Existing markets Existing products 3. Product development New products

PRODUCT MANAGEMENT:

PRODUCT MANAGEMENT THANK YOU

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