1 product & brand mgmt
Post on 20-Sep-2015
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PRODUCT AND BRAND
MANAGEMENTPROF. AMAR E. TIGGA
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PRODUCT MANAGEMENT Basic task of a Company MARKET ITS PRODUCTS &
SERVICES
SOME PEOPLE HAVE PRIMARY RESPONSIBILITYFOR THE MARKET SUCCESS OF THE COMPANYS PRODUCTS AND SERVICES
THEY ARE PRODUCT MANAGER MAY HAVE OTHER TITLE LIKE BRAND MANAGER/
MARKETING MANAGER ETC.
EXPERT FOR THE PRODUCT THEIR SUCCESS DEPENDS ON PRODUCT
PERFORMANMCE
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PRODUCT MANAGERS JOB
TWO BROAD RESPONSIBILITIES PLANNING ACTIVITIES RELATED TO PRODUCT OR
PRODUCT LINE Continually collecting and synthesizing information Forecasting changes in competition and market conditions Revising market strategies Adapting decisions such as price and communications to
changing market conditions
GET THE ORGANISATION TO SUPPORT THE PLAN Cooperating with other parts of the organization (Sales, R&D,
Finance, Operations etc.)
Outsiders (suppliers, channel members etc.)
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JOBS NEW CHALLENGES:
The job is becoming increasingly complex with
Changes in information technology
Increased diffusion and improvement in internet
Increasing global competition
Changing customers needs and wants
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MAJOR TASKS The course is to provide basic approach for dealing
with these issues Three major tasks facing marketers in general and
product manager in particular:1. Analyzing the market2. Developing objectives and strategies for the product or
service in question3. Making decisions about price, advertising, promotion,
channels of distribution and service
Development of a MARKETING PLAN (for a product) that integrate these three tasks.
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PRODUCT MANAGEMENT COURSE
PART I: Marketing planning process and the background analyses necessary for constructing a successful marketing plan
Marketing Planning, Defining Competitive set, Category attractiveness analysis, Competitor Analysis, Customer Analysis, Market Potential and Sales Forecasting
PART II: How to set sound product objectives and develop a product strategy as a result of the market analysis conducted in Part I.
Developing Product Strategy
New Products
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PART III: Covering Marketing Mix with an emphasis on decisions
Pricing Decisions, Advertising Decisions, Promotions, Channel Management, CRM
PART IV: Financial Analysis and Marketing Metrics: as measures use to assess the success of the plan by Product Managers
Financial analysis for Product Management, Marketing Metrics
PRODUCT MANAGEMENT COURSE
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PRODUCT CONCEPTS
A product is anything that can be offered to a market to satisfy a want or need.
Products that are marketed include physical goods, services, experiences, events, persons, places, properties, information and ideas.
Marketing planning begins with formulating an offering to meet target customers need and wants.
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PRODUCT CONCEPTS
AT THE HEART OF A GREAT BRAND IS A GREAT PRODUCT.
PRODUCT IS A KEY ELEMENT IN THE MARKET OFFERING
MARKET LEADERS GENERALLY OFFER PRODUCTS AND SERVICES OF SUPERIOR QUALITY
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PRODUCT CONCEPTS
Three basic components of the Market Offering
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PRODUCT CONCEPTS
FIVE PRODUCT LEVELS
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PRODUCT CLASSIFICATIONS
BASIS: DURABILITY & TANGIBILITY NON-DURABLE: tangible goods normally consumed in
one or few uses
DURABLE: tangible goods that normally survive many uses
SERVICES: Intangible, Inseparable, Variable, Perishable
USE : CONSUMER
INDUSTRIAL
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PRODUCT CLASSIFICATIONS
CONSUMER GOODS CLASSIFICATION: Based on shopping habits Convenience goods Shopping goods Specialty goods Unsought goods
INDUSTRIAL GOODS Based on how they enter the production process and
costliness Material & Parts Capital Items Supplies and business services
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Role of Product Manager
http://www.youtube.com/watch?v=k3NVAXFYdDE
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BRAND MANAGEMENT
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BRAND MANAGEMENT
BUILDING A STRONG BRAND REQUIRES CAREFUL PLANNING AND A GREAT DEAL OF LONG-TERM INVESTMENT.
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BRAND MANAGEMENT
The AMA defines a brand as a name, term, sign, symbol, or design or a combination of them, intended to identify the goods or services of one seller or group of sellers or differentiate them from those of competitors.
A brand is a perceptual entity that is rooted in reality. Its something that resides in the mind of the consumers
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BRAND MANAGEMENT
Branding is endowing products and services with the power of a brand. Branding is all about creating differences.
Brand Equity is the added value endowed to products and services.
Brand equity is an important intangible asset that has psychological financial value to the firm.
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BRAND MANAGEMENT
Addresses three important questions
How can brand equity be created?
How can brand equity be measured?
How can brand equity be used to expand business opportunities?
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BRAND MANAGEMENT
As with most marketing, branding does not involve right or wrong answers.
This course will facilitate the understanding of Brand Management and the guidelines of best practices
What you will get out of this course will depend on what you put into it and how you blend the ideas with what you get.
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UNIT I
Understanding Brands: Brands Vs Products, Benefits of branding;
Brand attributes, Significance of branding to consumers & firms, selecting brand names
BRAND MANAGEMENT
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UNIT - II Brand Awareness-Types of Brand Awareness, Brand
Image- Types of Associations,
Brand Identity, Brand Personality, Brand Positioning, Creating Core Brand
Values; Bringing Brand to life: Growing, sustaining Brand equity- Customer Based Brand Equity, Sources of Brand Equity
Managing Brands: Building Branding Strategies, Brand Extensions, Brand Licensing and Franchising, Global Branding.
BRAND MANAGEMENT
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REFERENCES:
Product Management Donald R Lehmann & Russel S. Winer;
Tata Mac Graw Hill
Strategic Brand Management : Building, Measuring and Managing Brand Equity
Keller Kevin Lane; Pearson Education
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