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Points of Discussion

Elements of Product Strategy. Product Mix and Line decisions.

Positioning Strategy. Product Strategy over Life Cycle. New Product Development Process.

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Career Path ...

Companys Vice Presidentfor Marketing

Brand or Product LineProduct Category orDivisional Marketing

Management :

Marketing / ProductManager -In-charge of one

product. SmallOrganizational set up

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Eye & Memory Testing

http://www.hul.co.in/brands-in-action/view-brands.aspx

http://www.hul.co.in/brands-in-action/view-brands.aspxhttp://www.hul.co.in/brands-in-action/view-brands.aspxhttp://www.hul.co.in/brands-in-action/view-brands.aspxhttp://www.hul.co.in/brands-in-action/view-brands.aspxhttp://www.hul.co.in/brands-in-action/view-brands.aspxhttp://www.hul.co.in/brands-in-action/view-brands.aspxhttp://www.hul.co.in/brands-in-action/view-brands.aspxhttp://www.hul.co.in/brands-in-action/view-brands.aspxhttp://www.hul.co.in/brands-in-action/view-brands.aspx

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Understanding a Product

Generic Expected Augmented

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Implication for the Marketer

Marketer should determine what productmeans for the consumer before designing theproduct

Also, aspirations of the consumer differ fromplace to place and time

Same product as Car may satisfy differentgeneric requirements.-???

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Implications..

Marketer should try to indentify manytangible aspects

Fuel economy Elegant design Driving comfort External appearance Color Size

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Implications

Company should try to customize augmentedservice is the product to succeed in the longrun

Delivery Warranty

credit terms After sales programmes

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Most important attribute for a product

Price

Quality

Customization

VALUE FORMONEY

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New Product Development

http://www.raleighusa.com/ http://jobs.3m.com/go/All-3M-Jobs-in-

India/395111/

http://www.raleighusa.com/http://jobs.3m.com/go/All-3M-Jobs-in-India/395111/http://jobs.3m.com/go/All-3M-Jobs-in-India/395111/http://jobs.3m.com/go/All-3M-Jobs-in-India/395111/http://jobs.3m.com/go/All-3M-Jobs-in-India/395111/http://jobs.3m.com/go/All-3M-Jobs-in-India/395111/http://jobs.3m.com/go/All-3M-Jobs-in-India/395111/http://jobs.3m.com/go/All-3M-Jobs-in-India/395111/http://jobs.3m.com/go/All-3M-Jobs-in-India/395111/http://jobs.3m.com/go/All-3M-Jobs-in-India/395111/http://jobs.3m.com/go/All-3M-Jobs-in-India/395111/http://jobs.3m.com/go/All-3M-Jobs-in-India/395111/http://www.raleighusa.com/

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Stages of Product Development

Evaluate the Ideas

Market Evaluation Analysis

Prototype and Marketing

Market Testing

Preparing for Launch

Product Idea Brainstorming1

2

3

4

5

6

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Strategy

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Product Strategy

Benefits Of Strategy Co-ordination among functional areas of

organization

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Benefits Of Strategy

Allocation of resources

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Benefits Of Strategy

Superior market positioni) Something competitor cant do.

ii) Something competitor will not do.iii) Competitor will be at disadvantage if they do

it.

iv) It causes us to gain if the competition does it

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Some Examples Dell became really successful by exploring the web as a distribution

channel. Gillette has made a fortune by establishing a continuous

relationship with customers based on its disposable razors. Apple resurged based on its core capacity of bringing design to

computers and electronic gadgets. Cisco became famous for its capacity of configuring activities in new

and innovative supply chains. Intel thrived for its capacity to get partners to build on its

processing platform.

Google tapped in an innovative revenue streams by linking highlyspecific search results and content with text ads. Wal-Mart became dominant by its ability to slash cost throughout

its business model.

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CaseLet

http://sopinion8ed.wordpress.com/2012/11/23/the-coca-cola-business-model-and-their-competitive-advantage/

http://sopinion8ed.wordpress.com/2012/11/23/the-coca-cola-business-model-and-their-competitive-advantage/http://sopinion8ed.wordpress.com/2012/11/23/the-coca-cola-business-model-and-their-competitive-advantage/http://sopinion8ed.wordpress.com/2012/11/23/the-coca-cola-business-model-and-their-competitive-advantage/http://sopinion8ed.wordpress.com/2012/11/23/the-coca-cola-business-model-and-their-competitive-advantage/http://sopinion8ed.wordpress.com/2012/11/23/the-coca-cola-business-model-and-their-competitive-advantage/http://sopinion8ed.wordpress.com/2012/11/23/the-coca-cola-business-model-and-their-competitive-advantage/http://sopinion8ed.wordpress.com/2012/11/23/the-coca-cola-business-model-and-their-competitive-advantage/http://sopinion8ed.wordpress.com/2012/11/23/the-coca-cola-business-model-and-their-competitive-advantage/http://sopinion8ed.wordpress.com/2012/11/23/the-coca-cola-business-model-and-their-competitive-advantage/http://sopinion8ed.wordpress.com/2012/11/23/the-coca-cola-business-model-and-their-competitive-advantage/http://sopinion8ed.wordpress.com/2012/11/23/the-coca-cola-business-model-and-their-competitive-advantage/http://sopinion8ed.wordpress.com/2012/11/23/the-coca-cola-business-model-and-their-competitive-advantage/http://sopinion8ed.wordpress.com/2012/11/23/the-coca-cola-business-model-and-their-competitive-advantage/http://sopinion8ed.wordpress.com/2012/11/23/the-coca-cola-business-model-and-their-competitive-advantage/http://sopinion8ed.wordpress.com/2012/11/23/the-coca-cola-business-model-and-their-competitive-advantage/http://sopinion8ed.wordpress.com/2012/11/23/the-coca-cola-business-model-and-their-competitive-advantage/http://sopinion8ed.wordpress.com/2012/11/23/the-coca-cola-business-model-and-their-competitive-advantage/http://sopinion8ed.wordpress.com/2012/11/23/the-coca-cola-business-model-and-their-competitive-advantage/http://sopinion8ed.wordpress.com/2012/11/23/the-coca-cola-business-model-and-their-competitive-advantage/http://sopinion8ed.wordpress.com/2012/11/23/the-coca-cola-business-model-and-their-competitive-advantage/http://sopinion8ed.wordpress.com/2012/11/23/the-coca-cola-business-model-and-their-competitive-advantage/

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Elements of Product Strategy

Selection of strategic alternatives

Selection of customer targets

Choice of competitor targets

Statement of Core strategy

Description of supporting marketing mix

Statement of Objectives1

2

3

4

5

6

Description of supporting financial programs7

General Direction

Core of Marketing Strategy

Implementation of Strategy

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Key Considerations

Where to focus new product efforts

Resources

Product introductions and technology roadmaps

End Result1

2

3

4

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How to increase Sales / Market Share

Market penetration strategies

Increasing profitability (decreasing inputs)

80 / 20 rule

Market development strategies1

2

3

4

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Example

$ 499$ 599

MRP COST

$ 805.85$ 840.35

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Example

iPhone iPod Touch

$ 499 $ 599$ 299 $ 399

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Customer Focused or Product Focused

Discussion

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User Experience

Discussion

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Reading

Product Management 4/E:Lehmann

pp. 228 - 41

http://goo.gl/C1KLgg

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THANK YOU