Product mix and branding decisions,product line concept, product mix concept, example of product mix, width of product mix, length of product mix, depth of product mix,consistency of product mix, pricing of product mix, branding decisions, brand positioning, brand name selection, brand sponsorship, brand development.
Leroy J. Ebert DipM MCIM, Chartered Marketer, MSLIM
Manager Marketing and Business Development – Logiwiz Ltd.
Presentation Developed as course material for the SLIM Diploma in Brand Management
Content Extracted from “Strategic Brand Management” 3rd Edition
Authors: Kevin Lane Keller
M.G. Parameswaran
Issac Jacob
Presentation developed from SLIM Diploma In Brand Management Students
Presentation developed by Leroy J. Ebert (9th May 2014)
Product mix and branding decisions,product line concept, product mix concept, example of product mix, width of product mix, length of product mix, depth of product mix,consistency of product mix, pricing of product mix, branding decisions, brand positioning, brand name selection, brand sponsorship, brand development.
Leroy J. Ebert DipM MCIM, Chartered Marketer, MSLIM
Manager Marketing and Business Development – Logiwiz Ltd.
Presentation Developed as course material for the SLIM Diploma in Brand Management
Content Extracted from “Strategic Brand Management” 3rd Edition
Authors: Kevin Lane Keller
M.G. Parameswaran
Issac Jacob
Presentation developed from SLIM Diploma In Brand Management Students
Presentation developed by Leroy J. Ebert (9th May 2014)
Nature and importance of brands
Characteristics of a good brand name
Branding strategies of producers and middlemen
Building and using brand equity
Nature and importance of packaging and labeling
Packaging strategies
Marketing implications of product features
Developing and ManagingProductsUnrestricted• Sus.docxhcheryl1
Developing and Managing
Products
Unrestricted
• Sustain growth
• Increase revenue/profit
• Replace obsolete items
Why introduce new products?
• New-to-the-world: discontinuous innovations
• New product lines: enter an established market
• Product line additions
• Improvements or revisions
• Repositioned products: existing products
• Lower-priced products: like competition, but at
a lower price
Categories of new products
1. New product strategy
2. Idea generation
3. Idea screening
4. Business analysis
5. Development
6. Test marketing
7. Commercialization
8. New product
New product development process
• “Plan that links the new product development
process with the objectives of the:
• Marketing department
• Business unit
• Corporation”
• Should specify the role the new products will
play in the organization’s overall strategy
New product strategy
• Sources of new-product ideas
• Customers
• Employees
• Distributors
• Competitors
• Research and development
• Consultants
• Other experts
Idea generation
• Screening:
• Eliminates ideas that are inconsistent with
organizational strategy or are inappropriate for some
other reason
• Concept test:
• Test to evaluate a new-product idea, usually before
any prototype has been created
• Involves consumer reactions to product descriptions
or visual representations of the proposed new
product
Idea screening and concept test
Demand Cost
Sales Profitability
Business analysis stage
• “The stage in the product development process
in which a prototype is developed and a
marketing strategy is outlined”
• Involves:
• Prototype
• Marketing strategy
• Packaging, branding, and labeling
• Promotion, price, and distribution strategy
• Examining manufacturing feasibility
Development
• Team oriented approach
• Marketing, R&D, engineers, production, and suppliers
• Shortens process and reduces costs
Development
• Test marketing:
• “Limited introduction of a product and a marketing
program to determine the reactions of potential
customers in a market situation.”
• Alternatives to test marketing:
• Scanner-based research
• Simulated market testing
• Online test marketing
Test marketing
• Decision to market a product involves:
• Ordering production materials and equipment
• Starting production
• Building inventories
• Shipping the product to field distribution points
• Training the sales force
• Announcing the product to the trade
• Advertising to potential customers
Commercialization
Why do some products fail?
• No discernible benefit compared to existing
products
• Poor match between product features and
customer desires
• Overestimation of market size
• Incorrect targeting
• Too high or too low prices
• Inadequate distribution
Reasons for product failure
Diffusion of Innovation
Spread of new products
Complexity Compatibility Relativeadvantage
Observability Trialability
Product characteristics and rate of adoption
Product life cycles
• Hi.
Developing and Managing Brand powerpoint presentationMaryFylLina
Developing and Managing Brand and Product Categories powerpoint presentation that helps all the business institution for any business in different locality
5. Product Mix and
Product Line Decisions
•
Product mix or product
assortment is the complete set
of all products offered by a
firm.
•
Product lines are groups of
associated items, such as
items that consumers use
together or think of as part of a
group of similar products.
•
SKU - Stock Keeping Unit
Breadth
••Number of product lines
Depth
••Number of categories
within a product line
7. Facilitate Purchasing
Establish Loyalty
Protect from Competition
Reduce Marketing Costs
Are Assets
Impact Market Value
http://www.youtube.com/watch?v=MX8O7z4NtoU
Value of Branding for the
Customer
9. Brand Equity:
Perceived Value
•
Perceived value of a brand is
the relationship between a
product or service’s benefits
and its cost.
•
How do discount retailers like
Target, T.J. Maxx, and H&M
create value for customers?
10. Brand Equity: Brand
Associations
•
A brand association reflects
the mental links that
consumers make between a
brand and its key product
attributes, such as a logo,
slogan, or famous personality.
http://youtu.be/pCv-bwCqqXE
11.
12. Brand Equity: Brand
Loyalty
•
Brand loyalty occurs when a
consumer buys the same
brand’s product or service
repeatedly over time rather
than buy from multiple
suppliers within the same
category.
•
Consumers are often less
sensitive to price
•
Marketing costs are much
lower
•
Firm insulated from the
competition
13. CHECK YOURSELF
1.
How do brands create value for the customer and the firm?
2.
What are the components of brand equity?
14. Brand Ownership
Manufacturer brands or
national brands
Private-label brands or
Store Brands
• Premium
• Generic
• Copycat
• Exclusive co-branded
16. Naming Brands and
Product Lines
•
Corporate or family brand
•
•
Corporate and product line
brands
•
•
The Gap
Kellogg’s Corn Flakes
Individual lines
•
Mr. Clean (Proctor & Gamble)
17. Brand Extension
•
A brand extension refers to
the use of the same brand
name for new products being
introduced to the same or new
markets.
18. Brand Dilution
Evaluate the fit between
the product class
of the core brand
and the extension.
Evaluate consumer
perceptions of the
attributes of the core brand
and seek out extensions
with similar attributes.
Is the brand
extension distanced
enough from the
core brand?
Refrain from
extending the brand
name to too many
products.
20. Brand Licensing
•
Brand licensing is a
contractual agreement
between firms, whereby one
firm allows another to use its
brand name, logo, symbols,
and/or characters in exchange
for a negotiated fee.
21. Brand Repositioning
•
Brand repositioning or
rebranding refers to a strategy
in which marketers change a
brand’s focus to target new
markets or realign the brand’s
core emphasis with changing
market preferences.
22. CHECK YOURSELF
1.
2.
3.
4.
What are the differences among manufacturer and private-label
brands?
What is co-branding?
What is the difference between brand extension and line
extension?
What is brand repositioning?