Product/Service   Management
   Who is responsible for the last product    you bought?   Did you know…..      -It took over 3 years to develop      G...
 Product/ServiceManagement is a marketing function that involves obtaining, developing, maintaining, and improving a prod...
   Factors affecting Product/Service    Management:    1. Customer Needs and Wants    2. Company Goals and Strategies    ...
   What are Benefits to Product/Service    Management?    -Offer products consumers want and    company’s profits increas...
   What role does Product/Service Management    play in Marketing?    1. Affects positioning of product           -what i...
   Who is responsible for managing    product/service management?    -Several employees of a company, certain departments...
 Marketing         Essentials  MBA-LAPS-PM-017-SP
Product Life Cycles
   What is a product that has been around for as    long as you can remember?   How has it changed over the years?
   Product Life Cycle represents the stages that    a product goes through during its life.   There are 4 Stages of Life...
   What are the goals of the Introduction Stage?    – To increase product awareness    – Get the customer’s attention thr...
   What happens during Maturity Stage?    ◦ The product’s sales level off. More money is spent      on competition during...
   During the Decline Stage:    ◦ Sales start to decline. A company must decide to      alter the product, discount, or d...
 Sources: ◦Marketing Essentials
Technology inProduct/Service   Management
 Describethe use of technology in Product/Service Management
   Applications of Technology in Marketing:    1. Point-of-Sale Systems    2. Interactive Touch Screen Computer    3. Int...
   Point of Sale    – Scanners at cash registers, touch screens, hand-held    devices at      checkout• Interactive Touch...
   CRM- Customer Relationship Management    – A customer can track an order. The CRM or business can    track      custom...
   Interactive TV helps marketers to develop a    database of their uses• This database analysis helps see the  customer’...
 Sources: ◦Marketing Essentials
Ethical Considerations in       Product Packaging
 BusinessEthics in Product/Service Management
   Why do you think companies package and    label their products?    Answer: Create a good impression             Help s...
   Product labeling must inform customers    about a product’s contents and give    directions for use.    1. Must have n...
   In order for a product to say recycled it must    show proof that it is retrieved a certain    amount of scraps.   Fo...
   What happens when a company fails to    inform customers about product risks?    1. Company can get sued    2. Harm to...
 Sources: ◦Marketing Essentials
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  1. 1. Product/Service Management
  2. 2.  Who is responsible for the last product you bought? Did you know….. -It took over 3 years to develop Google’s search engine -It took over 4 years to develop the famous chicken sandwich at Chick- fil-a
  3. 3.  Product/ServiceManagement is a marketing function that involves obtaining, developing, maintaining, and improving a product.
  4. 4.  Factors affecting Product/Service Management: 1. Customer Needs and Wants 2. Company Goals and Strategies 3. Cost and Available Resources 4. Competition 5. Product Itself 6. Government Regulation 7. Stages in Life Cycle 8. Business and Economic Trends
  5. 5.  What are Benefits to Product/Service Management? -Offer products consumers want and company’s profits increase -When developing the right products, a company can gain new customers -When products are well managed there is less of a chance for failure
  6. 6.  What role does Product/Service Management play in Marketing? 1. Affects positioning of product -what image do you want to create about the product in the minds of consumers? 2. Improves product success 3. Gives product an image -what impressions do you have of certain brands
  7. 7.  Who is responsible for managing product/service management? -Several employees of a company, certain departments, 1 employee or just the boss. Normally depends on size of company.• 3 Main Phases of Product/Service Management 1. Developing New Products 2. Monitoring Existing Products - Sales, Profit, Market Share 3. Eliminate Weak Products
  8. 8.  Marketing Essentials MBA-LAPS-PM-017-SP
  9. 9. Product Life Cycles
  10. 10.  What is a product that has been around for as long as you can remember? How has it changed over the years?
  11. 11.  Product Life Cycle represents the stages that a product goes through during its life. There are 4 Stages of Life Cycle: 1. Introduction 2. Growth 3. Maturity 4. Decline
  12. 12.  What are the goals of the Introduction Stage? – To increase product awareness – Get the customer’s attention thru promotion – Lots of special promotion• During Growth Stage: – Customers are aware of product, sales increase – Companies focus on customer satisfaction – Competition starts from other companies
  13. 13.  What happens during Maturity Stage? ◦ The product’s sales level off. More money is spent on competition during this stage.• Discussion: Have class to choose amature product• Discuss how company is managing: 1. Competition 2. Advertising 3. Distribution – Is it only sold at 1 place 4. Other Strategies they have put in place
  14. 14.  During the Decline Stage: ◦ Sales start to decline. A company must decide to alter the product, discount, or discontinue product.
  15. 15.  Sources: ◦Marketing Essentials
  16. 16. Technology inProduct/Service Management
  17. 17.  Describethe use of technology in Product/Service Management
  18. 18.  Applications of Technology in Marketing: 1. Point-of-Sale Systems 2. Interactive Touch Screen Computer 3. Interactive TV 4. Customer Relationship Management 5. Enterprise Resource Planning Systems 6. Internet
  19. 19.  Point of Sale – Scanners at cash registers, touch screens, hand-held devices at checkout• Interactive Touch Screen Computers – Example: Kiosks• Interactive TV – Where TV is like a computer- order movies, click on Ragu for recipes, order food
  20. 20.  CRM- Customer Relationship Management – A customer can track an order. The CRM or business can track customer satisfaction• ERP- Enterprise Resource Planning – Software that allows all parts of the company’s management to be integrated• Internet – Wi-Fi – Search Engines – E-mail – E-commerce
  21. 21.  Interactive TV helps marketers to develop a database of their uses• This database analysis helps see the customer’s reaction to products• They are testing Interactive TV forpromotion
  22. 22.  Sources: ◦Marketing Essentials
  23. 23. Ethical Considerations in Product Packaging
  24. 24.  BusinessEthics in Product/Service Management
  25. 25.  Why do you think companies package and label their products? Answer: Create a good impression Help sell product Communicate benefits• Concerns for Product Packaging? Product Safety- Glass now plastic Tamper-resistant packages Airtight containers for foods Wasteful packaging Switching for spray cans and pumps
  26. 26.  Product labeling must inform customers about a product’s contents and give directions for use. 1. Must have name of manufactures 2. Quantity of contents 3. Nutritional info 4. Health claims are the same on all products; light, fat free, etc. 5. Warnings on products like alcohol and cigarettes 6. How to care for clothes
  27. 27.  In order for a product to say recycled it must show proof that it is retrieved a certain amount of scraps. For a food to be organic it must meet certain standards
  28. 28.  What happens when a company fails to inform customers about product risks? 1. Company can get sued 2. Harm to customer• What is Planned Obsolescence? – Making products that are known to not last long, or change, so that people will need to replace them –Example: Cell phones are always coming out with newer functions and it makes consumers want to purchase the new and improved cell phone
  29. 29.  Sources: ◦Marketing Essentials

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