AIPMM
November 8-10, 2006




                       T       R                       –   C              C
                ...
AIPMM
November 8-10, 2006




                            Sellers controlled the “old days”
                              ...
AIPMM
November 8-10, 2006




                           And product managers must respond
                               ...
AIPMM
November 8-10, 2006




                                        Ask yourself …
                                     ...
AIPMM
November 8-10, 2006




                                       Ask yourself …
                                      ...
AIPMM
November 8-10, 2006




                                    Ask yourself …
                                         ...
AIPMM
November 8-10, 2006




                                   In other words …
                                        ...
AIPMM
November 8-10, 2006




                                                                   - 15 -




              ...
AIPMM
November 8-10, 2006




                                                                                  - 17 -



...
AIPMM
November 8-10, 2006




                                  Cross-over positioning
                                   ...
AIPMM
November 8-10, 2006




                                       Cardinal rules
                                      ...
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Challenging The Status Quo

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Speech presented at a conference of the Association of International Product Marketing and Management

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Challenging The Status Quo

  1. 1. AIPMM November 8-10, 2006 T R – C C NB P M -2- Linda M. Gorchels Director of Executive Marketing Curriculum Fluno Center for Executive Education UW-Madison School of Business (608) 441-7336 lgorchels@bus.wisc.edu http://exed.wisc.edu/marketing/ © Linda Gorchels T R N © Linda Gorchels 2006 1
  2. 2. AIPMM November 8-10, 2006 Sellers controlled the “old days” -3- 3 networks Seller’s choice of options Seller’s time schedule Standard marketing research © Linda Gorchels T R N …Now customers are in charge -4- © Linda Gorchels T R N © Linda Gorchels 2006 2
  3. 3. AIPMM November 8-10, 2006 And product managers must respond -5- Balance science (data) and art (intuition) to go beyond formulaic approaches g y pp Shift mentality from a company’s internal and selling processes to customers’ buying processes, i.e., what, why, and how they want to buy Rethink h l R hi k the elements of b d and f brand d positioning © Linda Gorchels T R N What do customers buy? -6- Predictability in an unpredictable world Don’t tell me about your grass seed; tell me about my lawn. People don’t buy drills -- they buy the ability to make holes holes. A complete music solution © Linda Gorchels T R N © Linda Gorchels 2006 3
  4. 4. AIPMM November 8-10, 2006 Ask yourself … -7- Am I selling what target customers want to buy? y – portfolio? solution? – capabilities vs. usability? © Linda Gorchels T R N -8- Can you build a simpler product? Design products for specific market needs. More features can equate to more complexity and less value. © Linda Gorchels T R N © Linda Gorchels 2006 4
  5. 5. AIPMM November 8-10, 2006 Ask yourself … -9- Am I selling what target customers want to buy? y – portfolio? solution? – capabilities vs. usability? Am I selling the way they want to buy? – locational convenience © Linda Gorchels T R N - 10 - How would you expect to buy … © Linda Gorchels T R N © Linda Gorchels 2006 5
  6. 6. AIPMM November 8-10, 2006 Ask yourself … - 11 - Am I selling what target customers want to buy? y – portfolio? solution? – capabilities vs. usability? Am I selling the way they want to buy? – locational convenience Am I communicating in the customer’s own words with relevant benefits? © Linda Gorchels T R N - 12 - Are these words customers would use? “XYZ Company’s solution is a comprehensive, integrated, and strategic customer care solution consisting of products and services that provide y p , g , analytical capabilities, channel integration, process and sales improvement, and subject matter expertise to the industry.” © Linda Gorchels T R N © Linda Gorchels 2006 6
  7. 7. AIPMM November 8-10, 2006 In other words … - 13 - SW2C The product is the full set of tangible and intangible benefits that a buyer might gain from a firm s offering after purchasing it This firm’s it. includes the core offering and all its augmentations. © Linda Gorchels T R N What is a brand? - 14 - From the perspective of a product manager, a brand is a stereotyped image g yp g that customers use to make purchase decisions. It may be the image of your company, your product or service, or some combination of variables. © Linda Gorchels T R N © Linda Gorchels 2006 7
  8. 8. AIPMM November 8-10, 2006 - 15 - A strong brand is a deliverable promise of specific customer value. © Linda Gorchels T R N - 16 - A strong brand has a clear and unique image that is relevant and stands for something important to targeted customers. customers © Linda Gorchels T R N © Linda Gorchels 2006 8
  9. 9. AIPMM November 8-10, 2006 - 17 - hat h t are all the ways a ll th customer forms an impression of “brand” …? © Linda Gorchels T R N Brand personality - 18 - Understand the nuances of brand personality. p y Is your brand … – fun? – exciting? – dependable? – conservative? © Linda Gorchels T R N © Linda Gorchels 2006 9
  10. 10. AIPMM November 8-10, 2006 Cross-over positioning - 19 - Can I position the product into a different category, or create a new p g y product category? g y Cartoon or Adult Family Sitcom? © Linda Gorchels T R N Secondary association positioning - 20 - Secondary associations include company, country of origin, causes, p y y g spokespeople, etc. Marketer is borrowing or leveraging these associations for the new product May be important when a unique brand identity is difficult id i i diffi l to attain without i i ih it However, it must be relevant © Linda Gorchels T R N © Linda Gorchels 2006 10
  11. 11. AIPMM November 8-10, 2006 Cardinal rules - 21 - © Linda Gorchels T R N And in the end … - 22 - Product managers will always need to balance science and art A fresh perspective on ambiguous information and how customers buy may yield new insights into improved product management A brand positioning should be different from the competition, based on core strengths, and be relevant to the target customers © Linda Gorchels T R N © Linda Gorchels 2006 11

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