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Product Strategy
 

Product Strategy

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  • Point of Difference = unique product characteristic of benefit that separates the product apart from competition.

Product Strategy Product Strategy Presentation Transcript

  • Marketing Mix Sports Marketing
  • Marketing Mix
    • Consists of 5 Strategies:
    • Product Strategy
    • Price Strategy
    • People Strategy
    • Promotion Strategy
    • Place Strategy
    • Each strategy can be changed to improve success
  • Product Strategy
    • Changes made to the product or service
    • Point of Difference
    • Product Development
    • Product Life Cycle
    • Product Positioning
    • Product Width
    • Product Dept
  • Product Development
    • Generating ideas
    • Screening ideas
    • Developing a business proposal
      • SWOT Analysis
    • Develop product (prototype)
    • Test the product
    • Introduce the product (Marketing)
    • Evaluate customer acceptance
  • Product Life Cycle
    • Product Life Cycle
      • Introduction
      • Growth
      • Maturity
      • Decline
  • Introduction Stage
    • Characteristics Include:
    • High costs
    • Low profits
    • Promotions focused on informing
  • Growth Stage
    • Characteristics
    • Cost are decreasing
    • Profit are rapidly increasing
    • Promotions include informing & persuading
    • Branding starts
  • Maturity Stage
    • Cost are low
    • Profits level off
    • Promotions shift from persuade to remind
  • Decline Stage
    • Characteristics
    • Profits decrease
    • Promotion target reminding
    • Decisions need to be made
  • Decline Options
    • Change product
    • Change market
    • Discontinue
    • What do professional teams do?