MKT 340 Ch10 ppt
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Transcript of MKT 340 Ch10 ppt
© 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner.
This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
© 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner.
This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
Explain the product life-cycle concept.LO1
Identify the ways that marketing executives manage a product’s life cycle.
Recognize the importance of branding and alternative branding strategies.LO3
LO2
LEARNING OBJECTIVES (LO)
AFTER READING CHAPTER 10, YOU SHOULD BE ABLE TO:
10-2
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LO4
LEARNING OBJECTIVES (LO)
AFTER READING CHAPTER 10, YOU SHOULD BE ABLE TO:
Recognize how the 4 Ps framework is expanded in the marketing of services.LO5
Describe the role of packaging, and labeling in the marketing of a product.
10-3
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GATORADE: BRINGING
BRINGING SCIENCE TO SWEAT
10-4
Gatorade
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FIGURE 10-1 How stages of the product life cycle relate to a firm’s marketing objectives and marketing mix actions
10-5
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FIGURE 10-1A Stages of the product life cycle and its total industry sales and total industry profit
10-6
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FIGURE 10-1B How stages of the product life cycle relate to a firm’s marketing objectives and marketing mix actions
10-7
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CHARTING THE PRODUCT LIFE CYCLEINTRODUCTION STAGE
LO1
Product Life Cycle
Primary Demand
Selective Demand
Skimming Strategy
Penetration Pricing
Stimulate Trial
10-8
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FIGURE 10-2 Product life cycle for the stand-alone fax machine for business use: 1970-2014
10-9
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CHARTING THE PRODUCT LIFE CYCLE GROWTH STAGE
LO1
Rapid Sales Growth
Repeat Purchasers
New Features
Broad Distribution
More Competitors
10-10
Kindle
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CHARTING THE PRODUCT LIFE CYCLE MATURITY STAGE
LO1
Product Differentiation
Fewer Competitors
Industry/ProductSales Slow
Profit Declines
10-11
Pepsi Max
Video
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CHARTING THE PRODUCT LIFE CYCLE DECLINE STAGE
LO1
Environmental Changes
Industry/ProductSales Drop
Deletion
Harvesting
10-12
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MARKETING MATTERSWill E-Mail Spell Extinction for Fax Machines?
LO1
10-13
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CHARTING THE PRODUCT LIFE CYCLE THREE ASPECTSLO1
Length of the Product Life Cycle
Shape of the Product Life Cycle
• Generalized Life Cycle
• High-Learning
Product
• Fashion
Product
• Fad
Product
• Low-Learning
product
10-14
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FIGURE 10-3 Alternative product life cycle curves based on product types
10-15
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The Life Cycle and Consumers
• Diffusion of Innovation
Innovators
Early Adopters
Early Majority
Late Majority
Laggards
CHARTING THE PRODUCT LIFE CYCLE THREE ASPECTS
LO1
10-16
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FIGURE 10-4 Five categories and profiles of product adopters (diffusion of innovation)
10-17
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The Life Cycle and Consumers
• Barriers to Adoption
Usage
Value
Risk
Psychological
CHARTING THE PRODUCT LIFE CYCLE FOUR ASPECTS
LO1
10-18
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MANAGING THE PRODUCT LIFE CYCLEROLE OF A PRODUCT MANAGER
LO2
Product/Brand Manager Responsibilities
• Product Life Cycle
• Marketing Program Implementation
• New Product Development
• Data Analysis
CDI BDI
10-19
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USING MARKETING DASHBOARDSKnowing Your CDI and BDI
Category Development Index (CDI) and Brand Development Index (BDI)
LO2
10-20
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MANAGING THE PRODUCT LIFE CYCLEMODIFYING THE PRODUCT OR MARKET
LO2
Product Modification
• Product
Bundling
• New
Characteristics
Market Modification
• Finding New
Customers
• Increasing a
Product’s Use
• Creating a New
Use Situation
DockersAd
10-21
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MANAGING THE PRODUCT LIFE CYCLEREPOSITIONING THE PRODUCT
LO2
Product Repositioning
Reaching a New Market
Reacting to a Competitor’s Position
Catching a Rising Trend
10-22
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• Trading Up
• Trading Down
• Downsizing
MANAGING THE PRODUCT LIFE CYCLEREPOSITIONING THE PRODUCT
LO2
Changing the Value Offered
10-23
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MAKING RESPONSIBLE DECISIONSConsumer Economics of Downsizing—
Get Less, Pay More
LO2
10-24
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Branding
Brand Name
• Logotype (Logo)
BRANDING AND BRAND MANAGEMENTLO3
10-25
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Brand Personality
Brand Equity
BRANDING AND BRAND MANAGEMENTBRAND PERSONALITY AND BRAND EQUITY
LO3
• Provides a Competitive Advantage
• Consumers Willing to Pay a Premium
10-26
Dr. Pepper Ad
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FIGURE 10-5 The customer-based brand equity pyramid
10-27
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BRANDING AND BRAND MANAGEMENTBRAND PERSONALITY AND BRAND EQUITY
LO3
Creating Brand Equity
• Develop Positive Brand Awareness
• Establish a Brand’s Meaning
• Elicit the Proper Response
• Create Intense Brand Loyalty
10-28
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BRANDING AND BRAND MANAGEMENTBRAND PERSONALITY AND BRAND EQUITY
LO3
Valuing Brand Equity
• Provides a Financial Advantage
• Brand Licensing
10-29
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BRANDING AND BRAND MANAGEMENTPICKING A GOOD BRAND NAME
LO3
Should Suggest Product Benefits
Should Fit the Company or Product Image
Should Be Memorable and Positive
Should Have No Legal or Regulatory Restrictions
Should Be Simple and Emotional
10-30
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FIGURE 10-6 Alternative branding strategies
10-31
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BRANDING AND BRAND MANAGEMENTBRANDING STRATEGIES
LO3
Multiproduct Branding(Family or Corporate Branding)
• Product Line Extensions
• Subbranding
• Brand Extension
• Co-Branding
10-32
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BRANDING AND BRAND MANAGEMENTBRANDING STRATEGIES
LO3
Multibranding
• Fighting Brands
Private Branding (Private Labeling or Reseller Branding)
Mixed Branding
10-33
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Kimberly-Clark’s HuggiesWhat branding strategy is used?
LO3
10-34
Huggies Video
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PACKAGING AND LABELING PRODUCTSCREATING CUSTOMER VALUE AND
COMPETITIVE ADVANTAGE
LO4
Packaging Label
• Communication Benefits
• Functional Benefits
• Perceptual Benefits
10-35
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MARKETING MATTERSCreating Customer Value Through Packaging—
Pez Heads Dispense More Than Candy
LO4
10-36
Pez Web site
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PACKAGING AND LABELING PRODUCTSPACKAGING AND LABELING
CHALLENGES AND RESPONSES
LO4
Environmental Concerns
Health, Safety, and Security Issues
Cost Reduction
Connecting with Customers
• Shelf Life
10-37
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MANAGING THE MARKETING OF SERVICESTHE SEVEN Ps OF SERVICES
LO5
Seven Ps of Services Marketing
Product (Service)
• Branding
Price
• Off-Peak Pricing
10-38
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MANAGING THE MARKETING OF SERVICESTHE SEVEN Ps OF SERVICES
LO5
Place (Distribution)
Promotion
• Publicity
• Public Service Announcements (PSAs)
10-39
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• Customer Experience Management (CEM)
Physical Environment
Process
MANAGING THE MARKETING OF SERVICESTHE SEVEN Ps OF SERVICES
LO5
• Capacity Management
People
10-40
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P&G’S SECRET DEODORANT: FINDING INSPIRATION IN PERSPIRATION
VIDEO CASE 10
Secret Video
Case
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VIDEO CASE 10
Secret Deodorant
1. What is “purpose-driven marketing” from a product and brand management perspective at Procter & Gamble?
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VIDEO CASE 10
Secret Deodorant
2. How does “purpose-driven”marketing for Secret deodorant relate to the hierarchy of needs concept detailed in Chapter 4?
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3. What dimensions of consumer-based brand equity pyramid has the Secret brand team focused on with its “Let Her Jump” and “Mean Stinks” ignitions?
VIDEO CASE 10
Secret Deodorant
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USING BRAINSTORMING AND N/3 TECHNIQUES FOR BREATHE
RIGHT NASAL STRIPS
IN-CLASS ACTIVITY 10-1
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ICA 10-1
Breathe Right® Nasal Strips
WebsiteTV Ad
Example:
Using Brainstorming Techniques
For Breathe Right® Nasal Strips
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This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
© 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner.
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© 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner.
This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
Product Life Cycle
A product life cycle describes the stages a new product goes through in the marketplace: introduction, growth, maturity,and decline.
10-49
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Branding
Branding is a marketing decision in which an organization uses a name, phrase, design, or symbols, or combination of these to identifyits products and distinguish them from those of competitors.
10-50
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Brand Name
A brand name is any word, device (design, shape, sound,or color), or combination of these used to distinguish a seller’s goods or services.
10-51
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Brand Personality
Brand personality is a set of human characteristics associated with a brand name.
10-52
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Brand Equity
Brand equity is the added valuea brand name gives to a product beyond the functional benefits provided.
10-53
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Multiproduct Branding
Multiproduct branding is a branding strategy in which a company uses one name for allits products in a product class.
10-54
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Multibranding
Multibranding is a branding strategy that involves giving each product a distinct name when each brand is intended for a different market segment.
10-55
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Seven Ps of Services Marketing
The seven Ps of services marketing is an expanded marketing mix for services that includes the four Ps (product, price, promotion, and place or distribution) as well as people, physical environment, and process.
10-56
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Off-Peak Pricing
Off-peak pricing involves charging different prices during different times of the day or during different days of the week to reflect variations in demand forthe service.
10-57
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Capacity Management
Capacity managementintegrates the service component of the marketing mix with effortsto influence consumer demand.
10-58