Product And Brand Mangement


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Product And Brand Mangement

  1. 1. 1<br />Product and Brand Management<br />PRESENTED BY:-<br />SITESH KUMAR SONI<br />PGDM 4th TRIMESTER<br />ROLL NO. 116<br />ICBM-SCHOOL OF BUSINESS EXCELLENCE<br />
  2. 2. Responsibilities of a product manager<br />Creating a product plan<br />Developing demand planning<br />Discussing with production dept<br />Creating innovative marketing strategies<br />Discussing about packaging<br />Responsible for line extensions<br />New product identification<br />Proposing sales promotion plans<br />Conducting marketing research<br />Monitoring performance<br />2<br />
  3. 3. “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 <br /><ul><li>a physical entity -- computer, shirt, or soap
  4. 4. some service --healthcare, tuition, or bank
  5. 5. a retail store -- music store, locality grocer, or supermarket
  6. 6. a person-- a singer, physician, or politician
  7. 7. an organization-- business organization, trade organization
  8. 8. a place-- village, city, or country
  9. 9. an idea-- social issues, concepts, or population control </li></ul>3<br />
  10. 10. A product can be described at five levels:<br /><ul><li>The first level is the core benefit
  11. 11. The second level is a generic product
  12. 12. The third level is the expected product
  13. 13. The fourth level is the augmented product
  14. 14. The fifth level is the potential product</li></ul>4<br />
  16. 16. Core Benefit<br /><ul><li>The most fundamental benefit or service the customer is buying</li></ul>6<br />
  17. 17. Basic Product<br /><ul><li>Conversion in to Tangibles</li></ul>7<br />
  18. 18. Expected Product<br /><ul><li>A set of attributes and conditions buyers normally expects when they purchase the product</li></ul>8<br />
  19. 19. Augmented Product<br /><ul><li>Which exceeds customer’s expectations
  20. 20. 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
  21. 21. Each augmentation adds cost and slowly becomes potential benefit.</li></ul>9<br />
  22. 22. Potential Product<br /><ul><li>Which encompasses all the possible augmentations and transformations the product might undergo in the future
  23. 23. Companies search for new ways to satisfy customers and distinguish their offer.</li></ul>10<br />
  24. 24. Product Classification<br />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.<br />11<br />
  25. 25. Consumer Products<br />Based on durability and tangibility, there are three categories:<br /><ul><li>Durable goods
  26. 26. Non-durable goods
  27. 27. Services</li></ul>12<br />
  28. 28. The most widely used approach to classifying consumer goods puts them under four categories:<br /><ul><li> Convenience Products
  29. 29. Shopping Products
  30. 30. Specialty Products
  31. 31. Unsought Products</li></ul>13<br />
  32. 32. Organisational Products<br />Organizational or industrial goods can be classified into seven categories based on their characteristics and intended use: <br /><ul><li> raw materials,
  33. 33. capital equipment,
  34. 34. accessory equipment,
  35. 35. component parts,
  36. 36. process materials,
  37. 37. consumable supplies and
  38. 38. industrial services. </li></ul>14<br />
  39. 39. Product Line and Product Mix<br />Product item, product line, and product mix concepts help us understand the relationships among a company’s different products.<br />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.<br />15<br />
  40. 40. Line Stretching<br /><ul><li> Downward Line Stretch
  41. 41. Upward Stretch
  42. 42. Both-Way Stretch
  43. 43. Line Filling</li></ul>16<br />
  44. 44. Line Stretching Decisions<br />New<br />Product<br />High<br />High<br />High<br />Present<br />New<br />Present<br />Price<br />Price<br />Price<br />Product<br />Product<br />Product<br />New<br />Present<br />New<br />Product<br />Product<br />Product<br />Low<br />Low<br />Low<br />Low<br />Low<br />Low<br />High<br />High<br />High<br />Quality<br />Quality<br />Quality<br />Downward<br />Stretch<br />Upward<br />Stretch<br />Both-Way<br />Stretch<br />17<br />
  45. 45. Line Pruning<br />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). <br />18<br />
  46. 46. MARKETING PLANNING<br />19<br />
  47. 47. Marketing Planning<br />Types of Marketing Plans <br /><ul><li>Strategic plans
  48. 48. typically for a five year period
  49. 49. Tactical plans
  50. 50. typically for the year ahead
  51. 51. Contingency plans
  52. 52. an alternative plan if assumptions prove to be false</li></ul>20<br />
  53. 53. Marketing Planning<br />Importance of Marketing Planning <br /><ul><li>It helps in avoiding future uncertainties
  54. 54. It helps in management by objectives
  55. 55. It helps in achieving objectives
  56. 56. It helps in coordination and communication among the departments
  57. 57. It helps in control
  58. 58. It helps the customers in getting complete satisfaction.</li></ul>21<br />
  59. 59. Strategic Planning at Three Levels<br />Corporate Level Strategic Planning<br />multi business corporation (e.g.: ICICI Group)<br /> “What business should we be in?”<br />Business- Unit Level Strategic Planning<br />strategic business unit (ICICI Bank)<br />strategic business unit (ICICI Lombard)<br />Strategic Business Unit (ICICI Prudential)<br />“How should we compete in each of our businesses?”<br />operations<br />marketing<br />Functional Level Strategic Planning<br />finance<br />human resources<br />“How do we support each of our SBUs?”<br />22<br />
  60. 60. Marketing Planning<br />23<br />
  61. 61. Marketing Planning<br />Marketing Planning Process<br />24<br />
  62. 62. Marketing Planning<br />Steps in Corporate Planning Process<br />1. Establishing corporate mission, objectives and goals.<br />2. Establishing Strategic Business Units<br />3.  Assigning Resources to Each Strategic Business Unit<br />4. Planning for Business Growth.<br />25<br />
  63. 63. Marketing Planning<br />The Mission Statement<br />Based on answers to the following questions:<br /><ul><li>What is our business?
  64. 64. Who is the customer?
  65. 65. What is value to the customer?
  66. 66. What will our business be?
  67. 67. What should our business be?</li></li></ul><li>Marketing Planning<br />Strategic Business Unit <br /><ul><li>A strategic business unit has the following characteristics.
  68. 68. (a) Separate responsibility for strategic planning and profit performance, and profit influencing factors
  69. 69. (b)  Separate set of competitors
  70. 70. Single business or a collection of related businesses, which offer scope for independent strategic planning from remaining organization. </li></ul>27<br />
  71. 71. Marketing Planning<br />Boston Consultancy Group (BCG) Matrix<br />28<br />
  72. 72. Marketing Planning<br />29<br />
  73. 73. 30<br />THANK YOU<br />