Product And Brand Mangement
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Product And Brand Mangement

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Product And Brand Mangement Product And Brand Mangement Presentation Transcript

  • 1
    Product and Brand Management
    PRESENTED BY:-
    SITESH KUMAR SONI
    PGDM 4th TRIMESTER
    ROLL NO. 116
    ICBM-SCHOOL OF BUSINESS EXCELLENCE
  • Responsibilities of a product manager
    Creating a product plan
    Developing demand planning
    Discussing with production dept
    Creating innovative marketing strategies
    Discussing about packaging
    Responsible for line extensions
    New product identification
    Proposing sales promotion plans
    Conducting marketing research
    Monitoring performance
    2
  • “A product is anything, tangible or intangible, which can be offered to a market for attention, acquisition, use, or consumption that might satisfy a need or want.” Thus, a product can be
    • a physical entity -- computer, shirt, or soap
    • some service --healthcare, tuition, or bank
    • a retail store -- music store, locality grocer, or supermarket
    • a person-- a singer, physician, or politician
    • an organization-- business organization, trade organization
    • a place-- village, city, or country
    • an idea-- social issues, concepts, or population control
    3
  • A product can be described at five levels:
    • The first level is the core benefit
    • The second level is a generic product
    • The third level is the expected product
    • The fourth level is the augmented product
    • The fifth level is the potential product
    4
  • CORE BENEFIT
    BASIC PRODUCT
    EXPECTED PRODUCT
    AUGMENTED PRODUCT
    POTENTIAL PRODUCT
    5
  • Core Benefit
    • The most fundamental benefit or service the customer is buying
    6
  • Basic Product
    • Conversion in to Tangibles
    7
  • Expected Product
    • A set of attributes and conditions buyers normally expects when they purchase the product
    8
  • Augmented Product
    • Which exceeds customer’s expectations
    • The new competition is not on what firms manufacture in the factory but between what they add to their factory output in the form of packaging, services, advertising, customer advice, financing, delivery arrangements, warehousing, and other things that people value………………..Levitt
    • Each augmentation adds cost and slowly becomes potential benefit.
    9
  • Potential Product
    • Which encompasses all the possible augmentations and transformations the product might undergo in the future
    • Companies search for new ways to satisfy customers and distinguish their offer.
    10
  • Product Classification
    Products can be grouped under one of the two general categories. Consumer products arethose that we buy for our personal or family use or consumption. Organisational products represent those products that firms and institutions buy to produce other products, to resell, or to run day-to-day operations.
    11
  • Consumer Products
    Based on durability and tangibility, there are three categories:
    • Durable goods
    • Non-durable goods
    • Services
    12
  • The most widely used approach to classifying consumer goods puts them under four categories:
    • Convenience Products
    • Shopping Products
    • Specialty Products
    • Unsought Products
    13
  • Organisational Products
    Organizational or industrial goods can be classified into seven categories based on their characteristics and intended use:
    • raw materials,
    • capital equipment,
    • accessory equipment,
    • component parts,
    • process materials,
    • consumable supplies and
    • industrial services.
    14
  • Product Line and Product Mix
    Product item, product line, and product mix concepts help us understand the relationships among a company’s different products.
    A product item refers to a particular version of a product that is distinct, such as Surf Excel is a (premium) product item offered by Hindustan Lever Limited. A product line is a closely related group of products for essentially similar use, and technical and marketing considerations. Product mix is the total number of products that a company markets.
    15
  • Line Stretching
    • Downward Line Stretch
    • Upward Stretch
    • Both-Way Stretch
    • Line Filling
    16
  • Line Stretching Decisions
    New
    Product
    High
    High
    High
    Present
    New
    Present
    Price
    Price
    Price
    Product
    Product
    Product
    New
    Present
    New
    Product
    Product
    Product
    Low
    Low
    Low
    Low
    Low
    Low
    High
    High
    High
    Quality
    Quality
    Quality
    Downward
    Stretch
    Upward
    Stretch
    Both-Way
    Stretch
    17
  • Line Pruning
    Line pruning is just the opposite to line stretching and involves a deliberate decision to cut down the number of items in product line(s).
    18
  • MARKETING PLANNING
    19
  • Marketing Planning
    Types of Marketing Plans
    • Strategic plans
    • typically for a five year period
    • Tactical plans
    • typically for the year ahead
    • Contingency plans
    • an alternative plan if assumptions prove to be false
    20
  • Marketing Planning
    Importance of Marketing Planning
    • It helps in avoiding future uncertainties
    • It helps in management by objectives
    • It helps in achieving objectives
    • It helps in coordination and communication among the departments
    • It helps in control
    • It helps the customers in getting complete satisfaction.
    21
  • Strategic Planning at Three Levels
    Corporate Level Strategic Planning
    multi business corporation (e.g.: ICICI Group)
     “What business should we be in?”
    Business- Unit Level Strategic Planning
    strategic business unit (ICICI Bank)
    strategic business unit (ICICI Lombard)
    Strategic Business Unit (ICICI Prudential)
    “How should we compete in each of our businesses?”
    operations
    marketing
    Functional Level Strategic Planning
    finance
    human resources
    “How do we support each of our SBUs?”
    22
  • Marketing Planning
    23
  • Marketing Planning
    Marketing Planning Process
    24
  • Marketing Planning
    Steps in Corporate Planning Process
    1. Establishing corporate mission, objectives and goals.
    2. Establishing Strategic Business Units
    3.  Assigning Resources to Each Strategic Business Unit
    4. Planning for Business Growth.
    25
  • Marketing Planning
    The Mission Statement
    Based on answers to the following questions:
    • What is our business?
    • Who is the customer?
    • What is value to the customer?
    • What will our business be?
    • What should our business be?
  • Marketing Planning
    Strategic Business Unit
    • A strategic business unit has the following characteristics.
    • (a) Separate responsibility for strategic planning and profit performance, and profit influencing factors
    • (b)  Separate set of competitors
    • Single business or a collection of related businesses, which offer scope for independent strategic planning from remaining organization.
    27
  • Marketing Planning
    Boston Consultancy Group (BCG) Matrix
    28
  • Marketing Planning
    29
  • 30
    THANK YOU