Product Planning Unit 12 Product Planning Unit 12 Vocabulary

1
Product PlanningUnit 12
2
Product Planning

• How are decisions made to introduce new products
  and delete old ones?

3
Unit 12 Vocabulary

• Aseptic Packaging
• Blisterpacks
• Brand
• Brand Extension
• Brand Label
• Brand Licensing
• Brand Mark
• Brand Name
• Category Management
• Cause Packaging
• Co-Branding
• Descriptive Label
• Generic Brands
• Grade Label
• Label
• Mixed Brand
• Mixed Bundling

• National Brands
• Package
• Planograms
• Price Bundling
• Private Distributor Brands
• Product Depth
• Product Item
• Product Life Cycle
• Product Line
• Product Mix
• Product Modification
• Product Planning
• Product Positioning
• Product Width
• Trade Name
• Trade Character
• Trademark

4
Unit 12 EssentialQuestion

• What processes and techniques are used to
  develop, maintain, and improve a product/service
  mix in order to utilize market opportunities?

5
Essential Question 1 Product Planning

• What is the purpose of product/service planning
  in marketing?

6
What is Product Planning?

• Product Planning The decisions made about what
  features should be used in selling of a
  businesss products.
• These decisions relate to

• guarantees
• branding
• product mix

• packaging
• labeling
• warranties

7
What is Product Planning?

• Product Mix All the different products that a
  company makes or sells.
• Product Line A group of closely related products
  manufactured or sold by a business.
• Product Item A specific model, brand, or size of
  a product within a product line.
• Product Width The number of different product
  lines a business manufactures or sells.
• Product Depth The number of product items in a
  product line.

8
What is Product Planning?

• A well defined product plan allows a business to
• Create sales opportunities.
• Design appropriate marketing programs.
• Develop effective advertising campaigns.
• Coordinate the product mix offered to customers.
• Add new products.
• Delete older products that no longer appeal to
  customers

9
Essential Question 2 Product Planning

• How do businesses determine which products to
  produce and sell?

10
Determining what to produce or sell

• Businesses will use different product mix
  strategies to determine what to produce or sell.
• Product mix strategies depend on
• Resources
• Objectives
• Past and current sales
• Consumer trends

11
Essential Question 3 Product Planning

• How are products/services positioned in the
  market place?

12
Product Positioning

• Product positioning Efforts a business makes to
  identify, place and sell its products in the
  marketplace.
• Positioning by price and quality
• Ex Ford Motor Company positions its Focus as an
  economical passenger car while still emphasizing
  quality.

13
Product Positioning

• Positioning by features and benefits
• Ex Oil of Olay was positioned as a premium
  facial moisturizer and cleanser to keep skin soft
  and young.
• Positioning by unique characteristics
• Ex Cell phones that can text message or take
  pictures and send them.

14
Product Positioning

• Positioning in relation to the competition
• Ex Warner-Lambert Company introduced Cool Mint
  Listerine by positioning against the theraputic
  benefits of Original Listerine and the cosmetic
  benefits of Scope.
• Positioning in relation to other products in a
  line
• Ex Binney Smith introduced washable crayons
  and positioned them as a specialty item in the
  companys Crayola crayon line.

15
Essential Question 4 Product Planning

• What are some key product mix strategies?

16
Product Mix Strategies

• Developing New Products
• Follows seven steps
• Generate Ideas
• Screen Ideas
• Develop a Business Proposal
• Test the product with consumers
• Introduce the product
• Evaluate customer acceptance

17
Product Mix Strategies

• Developing Existing Products
• Line Extensions Adding new product lines, items
  or services.
• Ex Tylonol
• Product Modifications An alteration to an
  existing product
• New and different varieties
• Formulations
• Colors
• Styles
• Features
• Sizes

18
Product Mix Strategies

• Deleting a Product or Product Line
• Obsolescence
• Loss of Appeal
• Changes in Company Objectives
• Replacement with New Products
• Lack of Profit
• Conflict with other products in the line

19
Essential Question 5 Product Planning

• What is the significance of brand names in
  product planning?

20
Branding, Packaging, and Labeling

• Brand Name, design or symbol that identifies the
  products of a company.
• Brand Name
• Word or group of words that can be spoken.
• Ex Nike, Coca-Cola Classic, Cover Girl, Tylenol
• Brand Mark
• Symbol, design, distinctive coloring, or lettering

21
Branding, Packaging, and Labeling

• Trade Name
• Identifies the company or a division of a
  particular corporation.
• Trade Character
• A personified brand mark.

22
Branding, Packaging, and Labeling

• Trademark
• When used, it is followed by the registered
  trademark symbol

23
Branding, Packaging, and Labeling

• Package Physical container or wrapping for a
  product.
• Label Information tag, wrapper, seal, or
  imprinted message that is attached to a product
  or package.

24
(No Transcript)