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PRODUCT PLANNING

PRODUCT PLANNING. Marketing Management Session 7 and 8 October 13 and 27, 1999. SESSION OUTLINE. Positioning: review of concepts and perceptual maps Video case: « Creating Bread » Brief review Theoretical concepts of product management Managerial concepts

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PRODUCT PLANNING

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  1. PRODUCT PLANNING Marketing Management Session 7 and 8 October 13 and 27, 1999

  2. SESSION OUTLINE • Positioning: review of concepts and perceptual maps • Video case: « Creating Bread » • Brief review • Theoretical concepts of product management • Managerial concepts • Video: « Marketing a Product Range »

  3. POSITIONING • Part of the marketing strategy which allows to give the product/service its own identity • Positioning is a competitive tool • Positioning can be operated at the physical level or at the perceptual level • A strong position in buyers’ minds gives the product a competitive advantage

  4. PERCEPTUAL MAPS • Indicate where a product stands in buyers’ minds relative to its direct and indirect competitors • Horizontal and vertical axes are perceived relevant dimensions of the product category • Distances between two brands are perceived competitive distances • Ideal tool for positioning strategies

  5. POSITIONING STRATEGIES • Move brand closer to ideal point • Move ideal point closer to brand • Change relevance of dimensions • Introduce a new brand close to ideal point

  6. REVIEW • Planning the marketing strategy involves: • Situation analysis and setting objectives • Market segmentation • Selecting target market(s) • Defining a positioning strategy • Developing the marketing mix

  7. MARKETING MIX • Controllable variables: • Product • Price • Promotion • Place

  8. MARKETING MIX Price Product Place Promotion Controllable Variables

  9. MARKETING MIX Engineering Price Product Accounting/ Finance Place Promotion Operations Sales

  10. THEORETICAL CONCEPTS • Definition of a product • Product classifications • Product life cycle

  11. DEFINITION OF A PRODUCT Central product Tangible product Augmented product

  12. INTANGIBLE GOODS • Simultaneous consumption and production • Wide variations in demand over short periods of time • Many different types of services: • continuous services (electricity, telephone) • produced by a person (banking) • produced to a person (doctor, hairdresser)

  13. MANAGERIAL DECISIONS • Elements of the product: • product attributes • brand name and logo • packaging and colours • format • labelling • product-support services

  14. MANAGERIAL DECISIONS • Managing an existing product line • Developing and introducing new products • Organizing the marketing department

  15. NEXT SESSION • Chapter 9 • Product life cycle • New product introductions • Case presentations: The launch of mbanx, teams 3, 4, 9, and 10 • Video case: Profiting from the net

  16. Office hours for mid-term • Please see Prof. Mark A. Tomiuk, room 4.756, tel. 340-6415 • Marc-Alexandre.Tomiuk@hec.ca • Tuesday, Oct. 20, 10 a.m.-12 p.m. • Wednesday, Oct. 21, 10 a.m.-12 p.m. • Thursday, Oct. 22, 10 a.m.-12 p.m.

  17. Mid-term exam • Saturday, October 23 • 1:30 p.m. - 3:30 p.m. • Material covered: • chapters 1, 2, 4, 5, 6, and 20 • video cases (Race to Market, Looneyspoons, Tough to Reach, Creating Bread) • cases (Fottle and Omega Paw)

  18. Format of Mid-term • 10 True-false questions with short justification (15 points) • 2 short answer questions - you choose among 3 questions (10 points) • read the instructions carefully • read the question • answer the question • good answer + wrong question = 0

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