Aqa bus2-marketingproduct

What this topic is all about ,[object Object],[object Object],[object Object],[object Object]

What is a Product? A product is anything that is capable of satisfying customer needs

The Importance of Product Products are at the heart of marketing The product needs to exist for the other elements of the mix to happen

Parts of a Product ,[object Object],[object Object],[object Object],[object Object],[object Object]

Product Range ,[object Object],[object Object],[object Object],[object Object]

Product Differentiation ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Marketing Services ,[object Object],[object Object],[object Object],[object Object]

Brands ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Brand Extension ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Brand Stretching ,[object Object],[object Object]

Role of Packaging ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Product life cycle A theoretical model which describes the stages a product goes through

Stages in the Product Life Cycle ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Theory can be applied to a: Product category Style Brand or model

Implications of each stage ,[object Object],[object Object],[object Object]

Product life cycle and cash flow Sales Cash Flow

Research & product development phase ,[object Object],[object Object],[object Object],[object Object]

Product development ,[object Object],[object Object],[object Object],[object Object],[object Object]

Causes of elimination before launch ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Introduction stage ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Strategies at the introduction phase ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Growth stage ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Strategies in the growth stage ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Maturity ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Strategies for mature products ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Decline stage ,[object Object],[object Object],[object Object],[object Object],[object Object]

Reasons for decline ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Strategies for the decline phase ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Strategies to reduce the rate of decline ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Extending the product life cycle ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Product life cycle with an extension Sales (£) Time

Product rationalisation ,[object Object],[object Object],[object Object]

The life cycle is short if…. ,[object Object],[object Object],[object Object],[object Object],[object Object]

Short product life cycle of a fashion (or fad) item Sales (£) Time

Is decline inevitable? ,[object Object],[object Object],[object Object],[object Object]

No apparent decline Sales (£) Time

Uses of the product life cycle concept ,[object Object],[object Object],[object Object],[object Object],[object Object]

A balanced portfolio ,[object Object],[object Object],[object Object],[object Object]

Criticisms of the PLC concept ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Product life cycle of the VHS video 1976 Competing video systems launched: VHS (JVC and Victor) and Betamax (Sony) 1980s VHS-Betamax war. VHS’s longer playing time and more liberal licensing system gave it the edge 1984 Toshiba formulates plan for Digital Versatile Disc 1987 Betamax concedes defeat 1996 First film released on DVD 2003 US DVD rentals surpass VHS 2004 Hollywood studios stop releasing films on VHS

Boston Matrix ,[object Object],[object Object],[object Object]

Essence of the Boston Matrix ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Comparison with the Product Life Cycle ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

The axes of the matrix ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

“ Question mark” product ,[object Object],[object Object],[object Object],[object Object]

Strategy for “question marks” ,[object Object],[object Object],[object Object],[object Object]

Stars ,[object Object],[object Object],[object Object],[object Object],[object Object]

Strategy for stars ,[object Object],[object Object],[object Object],[object Object],[object Object]

Cash cows ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Strategy for cash cows ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Dogs ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Strategy for dogs ,[object Object],[object Object],[object Object],[object Object],[object Object]

Strategic decisions that flow from the Boston Matrix ,[object Object],[object Object],[object Object],[object Object],[object Object]

Value of the Boston Matrix ,[object Object],[object Object],[object Object],[object Object],[object Object]

Assumptions underlying the Boston Matrix ,[object Object],[object Object],[object Object],[object Object]

Criticisms of the Boston Matrix ,[object Object],[object Object],[object Object],[object Object]

Boston Matrix: summary Star High market growth High market share Cash neutral Hold Problem child High market growth Low market share Cash absorbing Build Cash cow Low market growth High market share Cash generating Harvest or milk Dog Low market growth Low market share Cash neutral Divest

Test Your Understanding http://www.tutor2u.net/business/quiz/product/quiz.html

Aqa bus2-marketingproduct

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