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Products

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PRODUCTS MANAGING THE PRODUCT MARKETING 360 Brian Gillespie The Hangover II Lawsuit http://insidemovies.ew.com/2011/05/24/hangover-2-tattoo-lawsuit-victory/ Who ... – PowerPoint PPT presentation

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Title: Products


1
Products Managing the product
  • MARKETING 360
  • Brian Gillespie

2
The Hangover II Lawsuit
http//insidemovies.ew.com/2011/05/24/hangover-2-t
attoo-lawsuit-victory/
3
Who Makes These?
4
Who Makes These?
5
Multiple Products
  • Product mix
  • Total set of all products offered by a firm
  • Product lines
  • A companys complete line of products designed to
    meet a certain need of targeted customers
  • Family brand
  • Different versions of the same product

6
Family of Products
  • Product mix width
  • Amount of product lines offered by a firm
  • Can be very wide (hundreds of products) or very
    narrow (1 or 2 products)
  • Product line length
  • Amount of products designed to fulfill a specific
    need
  • Can be very long (hundreds of products) or very
    short (1 or 2 products)

7
Product Lines
  • Full line
  • Targeting and attempting to fulfill the needs of
    multiple customer segments
  • Limited line
  • Targeting and attempting to fulfill the needs of
    a very specific customer segment

8
Product Offerings
9
Product Offerings
10
Product Offerings for Proctor Gamble
11
Product Offerings for PG
12
Product Objectives
13
Extending the Line
Upward Line Stretch
Adding a more expensive option
Removing options
Contracting
Filling or filling out
Adding options
Adding a less expensive option
Downward Line Stretch
14
Cannibalization
  • Loss of sales of an existing product/offering
    when a new product/offering in the same line or
    family is introduced

15
Extending the Line Your Turn
  • In small groups, determine how you would extend
    the line for a product your group chooses.
  • What needs are not being met?
  • What extensions do you propose?
  • What kind of extensions are they?
  • How would they fill the needs?
  • What target groups would they reach?
  • How would you prevent cannibalization?

16
Product Life Cycle
17
Product Life Cycle Issues
  • Introduction Stage
  • Get first-time buyers to adopt product
  • Growth Stage
  • Encourage loyalty, expand offerings, increase
    market share
  • Maturity Stage
  • Increased competition, price competition,
    reminder advertising
  • Decline Stage
  • Should I Stay or Should I Go Now?

18
Product Management
  • Brand managers
  • Responsible for developing and implementing the
    marketing plan for a specific brand
  • Product category managers
  • Responsible for developing and implementing the
    marketing plan for an entire product category
  • Market manager
  • Responsible for developing and implementing the
    marketing plans for products sold to a particular
    customer group
  • Venture teams
  • Groups of people who work together to develop a
    new product
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