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Bec doms ppton introduction to product management

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Bec doms ppton introduction to product management

Bec doms ppton introduction to product management

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  • 1. Introduction to Product Management
  • 2. Agenda
    • Course Overview
    • What is a Brand?
    • Brand Equity
    • Brand Management
  • 3. Course Overview
    • Objective
    • Structure
      • Brand Management System
      • On Building A Brand
      • Managing Across Brands
    • Requirements
      • 2 case write-ups, class participation, marketing plan, and final exam.
  • 4. Structure
    • Part I - The Brand Management System
      • Class 1: Class Overview, The Nature of a Brand, Brand/Product Management. An application to the Pepsi syringe scare.
      • Class 2: P&G Case. Live commentary from P&G.
  • 5. Structure
    • Part II - Building Brands
      • Class 3: Branding and Price. The case is Kodak. Then, Red Hat discusses how its branding strategy leads to a price advantage.
      • Class 4: Distribution and forecasting. The Goodyear case. Video regarding the effect of channel on brand.
  • 6. Structure
    • Part II - Building Brands (Cont.)
      • Class 5: Craig Stacey (VP from IRI) discusses the use of information to build brands.
      • Class 6: Promotions and Brands: Marketing in the NHL with live commentary from the Hurricanes Director of Communications, Ken Lehrner
  • 7. Structure
    • Part II - Building Brands (Cont.)
      • Class 7: Advertising and Brands with Intel Inside Interactive CDROM. Live Commentary and Discussion with Michael J. Ganey, Director, Howard, Merrell & Partners,Inc.
  • 8. Structure
    • Part III - Across Brands and Markets
      • Class 8: The Marketing Plan & Pharmasim. Tom O’Guinn, Visiting Professor discusses Brand Communities.
      • Class 9: Product Extensions: The Black and Decker Case and Video
      • Class 10: Global Branding: The Heineken Case, MTV Worldwide, and The Fuqua MBA with Jim Gray, Associate Dean, Fuqua.
  • 9. Structure
    • Part III - Across Brands and Markets
      • Class 11: Branding on the Internet. Deborah Kania (Lens Express and author of branding.com) and Beth Yakel (Sciquest)
      • Class 12: Wrap-up and PharmaSim Summary.
  • 10. Agenda
    • Course Overview
    • What is a Brand?
    • Brand Equity
    • Brand Management
  • 11. What is a Brand?
    • Name, term, sign, symbol, or design, or a combination of them intended to identify the goods and services of one seller or groups of sellers and to differentiate them from those of competition.” - AMA
    • Not all products are brands.
      • Focus of Court et al. reading
  • 12. Why Brand?
    • Identify product
    • Reduce risk
    • Reduce consumer search cost
    • Signal quality
    • Legal protection
    • Create product associations
    • Differentiate product
  • 13. Agenda
    • Course Overview
    • What is a Brand?
    • Brand Equity
    • Brand Management
  • 14. Brand Equity
    • The marketing effects uniquely attributable to the brand - Keller
    • Positive brand equity leads to:
      • Loyalty
      • Margins
      • Reduced vulnerability to competition
      • Enhanced marketing effectiveness
      • Brand extensions
  • 15. Brand Equity
    • Sources of Brand Knowledge
      • Brand Awareness
      • Brand Image
        • Strength of Brand Associations
        • Favorability of Brand Associations
        • Uniqueness of Brand Associations
  • 16. Brand Equity
    • Benefits
      • Loyalty
      • Larger Margins
      • Greater Trade Support
      • More Efficient Communications
      • Licensing Opportunities
      • Brand Extension Opportunities
    • Coke name worth $39BB, Kodak $11BB (Brand Valuation Reading)
  • 17. Best Corporate Reputations in America Source: Wall Street Journal / Harris Poll
  • 18. Brand Equity
    • But how does one develop brand equity?
    • The goal of this course is to learn how to manage brands (via marketing programs) in order to create brand equity - that is, create an enduring advantage for your brands.
  • 19. Figure 2-9 Building Customer-Based Brand Equity Greater loyalty Less vulnerability to competitive marketing actions and crises Larger margins More elastic response to price increases More inelastic response to price increases Increased marketing communica- tion efficiency and effectiveness Possible licensing opportunities More favorable brand extension evaluations TOOLS AND OBJECTIVES KNOWLEDGE EFFECTS BENEFITS Choosing Brand Elements (4) Brand name Logo Memorability Symbol Meaningfulness Character Transferability Packaging Adaptability Slogan Protectability Brand Awareness (3) Possible Outcome Brand Associations (3) Developing Marketing Programs (5 & 6) Leverage of Secondary Associations (7) Depth Recall Recognition Breadth Purchase Consumption Strong Relevance Consistency Favorable Desirable Deliverable Unique Point of parity Point of difference Product Functional & symbolic benefits Price Value perceptions Distribution channels Integrate “Push” & “Pull” Communications Mix and match options Company Country of origin Channel of distribution Awareness Other brands Meaningfulness Endorsor Transferability Event } }
  • 20. Agenda
    • Course Overview
    • What is a Brand?
    • Brand Equity
    • Brand Management
  • 21. Brand Management
    • Brand management is the act of designing and implementing marketing programs to build and maintain brand equity.
      • Product
      • Price
      • Distribution
      • Communications
  • 22. The Role of a Brand or Product Manager
    • Prepare Marketing Plan
    • Develop Copy, Programs, and Campaigns
    • Stimulate Sales and Distribution
    • Market Intelligence
    • Product Improvements
  • 23.
    • Pluses
    • - Cost effective mix, quick market reaction, attention for small brands, good training for executives
    • Minuses
    • - Conflict and frustration (responsibility and no authority), administrative work with executive expectations, learns products not functions, short horizon, costs of associates and assistants
    The Role of a Brand or Product Manager
  • 24. A Product Manager - Computer Software Firm
    • Background
      • Undergrad in architecture, became director of marketing for architecture firm
      • Received MBA
      • International marketing manager for sporting goods company
      • Founded a toy company
  • 25. A Product Manager - Computer Software Firm
    • Typical day
      • Meetings - new product line, marketing mix, marketing staff, organizational design and integration
      • E-mail/Phone - 3rd party developers, sales force, product support
    • Marketing planning - drafting the marketing plan
  • 26. A Product Manager Computer Software Firm
    • Marketing mix - recommends price to corporate committee, manages advertising, conducts focus groups for product positioning and development, decides on channels
  • 27. A Product Manager - Consumer Packaged Goods Firm
    • Background
      • Medical equipment sales after undergraduate
      • Received MBA
      • Assistant Brand Manager at large CPG Company
      • Switched firms, promoted several times to product manager.
      • Switched firms again to as senior product manager
  • 28. A Product Manager - Consumer Packaged Goods Firm
    • Typical day
      • 75% fighting fires, 25% planning
    • Marketing planning - key is volume forecasting since unsold inventory is perishable
    • Mix - 1/3 on pricing issues (list & trade), 20% on consumer promotions, president handles ads, 15% on distribution, little on sales and service
  • 29. A Product Manager Computer Software Firm
    • Marketing mix - recommends price to corporate committee, manages advertising, conducts focus groups for product positioning and development, decides on channels.
  • 30. The Marketing Department Marketing Administration Advertising & Promotion Sales Market Research New Products Existing Products VP Marketing Design the Department!!! Matrix or Tree?
  • 31. Brand Management Issues Product Manager Manufacturing R&D Legal Fiscal Market Research Salesforce Publicity Purchasing Packaging Promotion Services Media Advertising Agency Distribution
  • 32. A Key Trend in Product/Brand Management
    • Salaries and bonus for product marketers are up 65% in the last two years (Marketing News, Nov. 99)
  • 33. Brand Management Prognostications
    • Future of brand management
      • Customer management vs. product management
      • Cuts across brands and products
      • Managers organized by portfolios of customers
  • 34. Summary
    • Brand Equity
      • Awareness
      • Associations
    • Created by the mix
    • It is the role of a product manager to manage the mix to create equity
    • The brand management system