PRODUCT AND BRAND

MANAGEMENTPROF. AMAR E. TIGGA

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

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.)

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

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.

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

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

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.

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

PRODUCT CONCEPTS

Three basic components of the Market Offering

PRODUCT CONCEPTS

FIVE PRODUCT LEVELS

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

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

Role of Product Manager

http://www.youtube.com/watch?v=k3NVAXFYdDE

BRAND MANAGEMENT

BRAND MANAGEMENT

BUILDING A STRONG BRAND REQUIRES CAREFUL PLANNING AND A GREAT DEAL OF LONG-TERM INVESTMENT.

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

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.

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?

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.

UNIT I

Understanding Brands: Brands Vs Products, Benefits of branding;

Brand attributes, Significance of branding to consumers & firms, selecting brand names

BRAND MANAGEMENT

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

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