Product Management
I. Goals at each stage of the Product Life Cycle:
A. Introduction: Inform B. Growth: Persuade C. Maturity: Remind D. Decline
Promotion
I. Elements of the Promotion Mix A. Advertising B. Sales Promotion C. Personal Selling D. Public Relations
II. When/Why to Use the Elements of the Promotion Mix
Element A: Advertising Advertising Objectives
Inform, Persuade, Remind Measures of Media Effectiveness
Reach Frequency CPM
Element B: Sales Promotion Sales Promotions
Push vs. Pull Tactics: Push: Trade Oriented
Allowances and Discounts Cooperative Advertising Training of Distributors Salesforces
Pull: Consumer Oriented Coupons Deals (in-store price reductions) Samples Contests/Sweepstakes Loyalty Programs Rebates Product Placement
Pricing Pricing Strategies
Skimming Penetration Prestige Pricing Optional Feature Pricing Complementary Product Pricing “Captive” Product Pricing
Slide 3
Apple Computer Marketing Channel Structure: Online Apple Store - Direct Channel
CustomersConsumer
Producer
Slide 4
Apple Computer Marketing Channel Structure: Apple Retail Store - Direct Channel
CustomersConsumer
Producer
Slide 5
Apple Computer Marketing Channel Structure:CompUSA - Direct Channel/Strategic Channel Alliance
CustomersConsumer
Retailer
Producer
Apple Employees Staff CompUSAStore-Within-
A-Store
CompUSA
Slide 6
Apple Computer Marketing Channel Structure: Ingram Micro/Best Buy - Indirect Channel
CustomersConsumer
Wholesaler
Retailer
Producer
Best Buy
Ingram
Micro
Slide 7
Apple Computer Marketing Channel Structure: MacMall Online/Catalog Sales - Indirect Channel
CustomersConsumer
Retailer
Producer
MacMall
Place Distribution Channels
Direct vs. Indirect Channels Why Use Intermediaries? Types of Intermediaries
Merchandise Wholesalers Agents and Brokers
Vertical Marketing Systems Forward Integration Backward Integration Franchising
Where we’ve come since then…
Concepts become more concrete and specific via Design Branding Prototyping
We can test any or all of the above aspects using concept tests (similar to those discussed before) to get better information to use in forecasting the product’s success
Where we’ve come since then…
Or, we can use one of the market testing techniques below to get even more realistic data to use in our forecasts:
Pseudo Sales or Simulated Market Tests Controlled or Full Sale Market Tests
During these tests, we can better identify the target market and refine the marketing mix variables so that the full launch goes more smoothly.
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