Product And Brand Mangement
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Transcript of Product And Brand Mangement
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PRODUCT AND BRAND MANAGEMENT
PRESENTED BY:-
SITESH KUMAR SONIPGDM 4th TRIMESTERROLL NO. 116ICBM-SCHOOL OF BUSINESS EXCELLENCE
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Responsibilities of a product managerCreating a product planDeveloping demand planningDiscussing with production deptCreating innovative marketing strategiesDiscussing about packagingResponsible for line extensionsNew product identificationProposing sales promotion plansConducting marketing researchMonitoring performance
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“A product is anything, tangible or intangible, which can be offered to a market
for attention, acquisition, use, or consumption that might satisfy a need or want.”
Thus, a product can be
a physical entity -- computer, shirt, or soap
some service -- healthcare, tuition, or bank
a retail store -- music store, locality grocer, or supermarket
a person-- a singer, physician, or politician
an organization-- business organization, trade organization
a place-- village, city, or country
an idea-- social issues, concepts, or population control
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A product can be described at five levels:
The first level is the core benefit
The second level is a generic product
The third level is the expected product
The fourth level is the augmented product
The fifth level is the potential product
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CORE BENEFIT
BASIC PRODUCT
EXPECTED PRODUCT
AUGMENTED PRODUCT
POTENTIAL PRODUCT
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Core Benefit The most fundamental benefit or service the customer is buying
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Basic Product Conversion in to Tangibles
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Expected Product
A set of attributes and conditions buyers normally expects when they purchase the product
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Augmented Product Which exceeds customer’s expectations
The new competition is not on what firms manufacture in the factory but between what they add to their factory output in the form of packaging, services, advertising, customer advice, financing, delivery arrangements, warehousing, and other things that people value………………..Levitt
Each augmentation adds cost and slowly becomes potential benefit.
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Potential Product Which encompasses all the possible augmentations and
transformations the product might undergo in the future
Companies search for new ways to satisfy customers and
distinguish their offer.
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Product ClassificationProducts can be grouped under one of the two general categories.
Consumer products are those that we buy for our personal or family use
or consumption. Organisational products represent those products that
firms and institutions buy to produce other products, to resell, or to run day-
to-day operations.
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Consumer ProductsBased on durability and tangibility, there are three categories:
Durable goods
Non-durable goods
Services
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The most widely used approach to classifying consumer goods puts them
under four categories:
Convenience Products
Shopping Products
Specialty Products
Unsought Products
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Organisational ProductsOrganizational or industrial goods can be classified into seven categories based
on their characteristics and intended use:
raw materials,
capital equipment,
accessory equipment,
component parts,
process materials,
consumable supplies and
industrial services.
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Product Line and Product MixProduct item, product line, and product mix concepts help us understand
the relationships among a company’s different products.
A product item refers to a particular version of a product that is distinct, such
as Surf Excel is a (premium) product item offered by Hindustan Lever
Limited. A product line is a closely related group of products for essentially
similar use, and technical and marketing considerations. Product mix is the
total number of products that a company markets.
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Line Stretching
Downward Line Stretch
Upward Stretch
Both-Way Stretch
Line Filling
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Line Stretching Decisions
High High High
New Product
Price PresentProduct
Price New Product
Price PresentProduct
New Product
PresentProduct
New ProductLow Low Low
Quality Quality Quality
Downward Stretch Upward Stretch Both-Way Stretch
Low Low Low HighHigh High
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Line Pruning
Line pruning is just the opposite to line stretching and involves a deliberate
decision to cut down the number of items in product line(s).
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MARKETING PLANNING
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Types of Marketing Plans
Strategic plans
typically for a five year period
Tactical plans
typically for the year ahead
Contingency plans
an alternative plan if assumptions prove to be false
Marketing Planning
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Importance of Marketing Planning It helps in avoiding future uncertainties
It helps in management by objectives
It helps in achieving objectives
It helps in coordination and communication among the departments
It helps in control
It helps the customers in getting complete satisfaction.
Marketing Planning
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Strategic Planning at Three Levels
Corporate Level Strategic Planning
multi business corporation
(e.g.: ICICI Group)
strategic business unit (ICICI Bank)
“What business should we be in?”
strategic business unit (ICICI Lombard)
Strategic Business Unit
(ICICI Prudential)
Business- Unit Level Strategic Planning “How should we compete in each
of our businesses?”
operations
Functional Level Strategic Planning
marketing
finance
human resources“How do we support each of our SBUs?”
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Management Level Planning Focus Key Marketing Question
Top Level of Management
Corporate Plan What is the organization’s mission? How do we organize the business?
Middle Level of Management
Business Unit Plan What is our competitive strategy for growth in that particular business unit?What are our competitive advantage?
Lower level of Management
Operational Plans How can we best support both the corporate plan and the business unit plan? What are our operational schedules?
Marketing Planning
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Marketing Planning Process
Marketing Planning
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Steps in Corporate Planning Process
1. Establishing corporate mission, objectives and
goals.
2. Establishing Strategic Business Units
3. Assigning Resources to Each Strategic
Business Unit
4. Planning for Business Growth.
Marketing Planning
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The Mission Statement
Based on answers to the following questions:
What is our business?
Who is the customer?
What is value to the customer?
What will our business be?
What should our business be?
Marketing Planning
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Strategic Business Unit
A strategic business unit has the following characteristics.
(a) Separate responsibility for strategic planning and profit
performance, and profit influencing factors
(b) Separate set of competitors
Single business or a collection of related businesses, which offer scope for
independent strategic planning from remaining organization.
Marketing Planning
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Boston Consultancy Group (BCG) Matrix
Marketing Planning
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S.B.UClassificati
on
S.B.U. Characteristics Strategy Strategy Characteristics
1. Dogs (Low share,
low growth)
Generate low profits or lossesConsume more management time
Divest Sell or liquidate the business because resources can be better used elsewhere.
2. Question Marks
(Low share, high
Growth)
Requires a lot of cash for fast growthContinue investing in the SBU or withdrawing from the market
Build/ Harvest Increase the SBU’s market share/increase the SBU’s short-term cash flow and eliminate R & D expendi-ture
3. Stars (High share, high growth)
- Generate large amount of cash- Competitors attack on SBU
Build Increase the SBU’s market share
4. Cash Cows - Generate considerable sums of cash- Enjoy economies of scales and higher profit margins
Hold/ Harvest Preserve the SBU’s market share/increase the SBU’s short-term cash flow and involve eliminat-ing R & D expenditure
Marketing Planning
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THANK YOU