PRODUCT AND BRAND

MANAGEMENT
Lecture 01
Module I: Product Strategy Development
Dr. Preeti Bajaj
Points of Discussion
Elements of Product Strategy.
Product Mix and Line decisions.
Positioning Strategy.
Product Strategy over Life Cycle.
New Product Development Process.

Career Path ...
Companys Vice President
for Marketing
Brand or Product Line
Product Category or
Divisional Marketing
Management :
Marketing / Product
Manager-In-charge of one
product. Small
Organizational set up
Eye & Memory Testing
http://www.hul.co.in/brands-in-action/view-
brands.aspx

Understanding a Product
Generic
Expected
Augmented
Implication for the Marketer
Marketer should determine what product
means for the consumer before designing the
product
Also, aspirations of the consumer differ from
place to place and time
Same product as Car may satisfy different
generic requirements.-???


Implications..

Marketer should try to indentify many
tangible aspects
Fuel economy
Elegant design
Driving comfort
External appearance
Color
Size

Implications
Company should try to customize augmented
service is the product to succeed in the long
run
Delivery
Warranty
credit terms
After sales programmes
Most important attribute for a product
Price
Quality
Customization
VALUE FOR
MONEY
New Product Development
http://www.raleighusa.com/
http://jobs.3m.com/go/All-3M-Jobs-in-
India/395111/

Who am I???
Stages of Product Development
Evaluate the Ideas
Market Evaluation Analysis
Prototype and Marketing
Market Testing
Preparing for Launch
Product Idea Brainstorming
1
2
3
4
5
6
Strategy
Product Strategy
Benefits Of Strategy
Co-ordination among functional areas of
organization

Benefits Of Strategy
Allocation of resources

Benefits Of Strategy
Superior market position
i) Something competitor cant do.
ii) Something competitor will not do.
iii) Competitor will be at disadvantage if they do
it.
iv) It causes us to gain if the competition does it

Some Examples
Dell became really successful by exploring the web as a distribution
channel.
Gillette has made a fortune by establishing a continuous
relationship with customers based on its disposable razors.
Apple resurged based on its core capacity of bringing design to
computers and electronic gadgets.
Cisco became famous for its capacity of configuring activities in new
and innovative supply chains.
Intel thrived for its capacity to get partners to build on its
processing platform.
Google tapped in an innovative revenue streams by linking highly
specific search results and content with text ads.
Wal-Mart became dominant by its ability to slash cost throughout
its business model.
CaseLet
http://sopinion8ed.wordpress.com/2012/11/2
3/the-coca-cola-business-model-and-their-
competitive-advantage/

Elements of Product Strategy
Selection of strategic alternatives
Selection of customer targets
Choice of competitor targets
Statement of Core strategy
Description of supporting marketing mix
Statement of Objectives
1
2
3
4
5
6
Description of supporting financial programs
7
General Direction
Core of Marketing Strategy
Implementation of Strategy
Key Considerations
Where to focus new product efforts
Resources
Product introductions and technology roadmaps
End Result
1
2
3
4
How to increase Sales / Market Share
Market penetration strategies
Increasing profitability (decreasing inputs)
80 / 20 rule
Market development strategies
1
2
3
4
Example
$ 499
$ 599
MRP COST
$ 805.85
$ 840.35
Example
iPhone
iPod Touch
$ 499 $ 599
$ 299 $ 399
Customer Focused or Product Focused
Discussion
User Experience
Discussion
Reading
Product Management 4/E
:Lehmann
pp. 228 - 41


http://goo.gl/C1KLgg
THANK YOU