bec doms ppton introduction to product management
TRANSCRIPT
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Introduction to Product Management
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Agenda
Course Overview What is a Brand? Brand Equity Brand Management
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Course Overview
Objective Structure
Brand Management System On Building A Brand Managing Across Brands
Requirements 2 case write-ups, class participation, marketing
plan, and final exam.
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Structure
Part I - The Brand Management System Class 1: Class Overview, The Nature of a Brand,
Brand/Product Management. An application to the Pepsi syringe scare.
Class 2: P&G Case. Live commentary from P&G.
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Structure
Part II - Building Brands Class 3: Branding and Price. The case is Kodak.
Then, Red Hat discusses how its branding strategy leads to a price advantage.
Class 4: Distribution and forecasting. The Goodyear case. Video regarding the effect of channel on brand.
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Structure
Part II - Building Brands (Cont.) Class 5: Craig Stacey (VP from IRI) discusses the
use of information to build brands. Class 6: Promotions and Brands: Marketing in the
NHL with live commentary from the Hurricanes Director of Communications, Ken Lehrner
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Structure
Part II - Building Brands (Cont.) Class 7: Advertising and Brands with Intel Inside
Interactive CDROM. Live Commentary and Discussion with Michael J. Ganey, Director, Howard, Merrell & Partners,Inc.
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Structure
Part III - Across Brands and Markets Class 8: The Marketing Plan & Pharmasim. Tom
O’Guinn, Visiting Professor discusses Brand Communities.
Class 9: Product Extensions: The Black and Decker Case and Video
Class 10: Global Branding: The Heineken Case, MTV Worldwide, and The Fuqua MBA with Jim Gray, Associate Dean, Fuqua.
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Structure
Part III - Across Brands and Markets Class 11: Branding on the Internet. Deborah
Kania (Lens Express and author of branding.com) and Beth Yakel (Sciquest)
Class 12: Wrap-up and PharmaSim Summary.
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Agenda
Course Overview What is a Brand? Brand Equity Brand Management
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What is a Brand?
Name, term, sign, symbol, or design, or a combination of them intended to identify the goods and services of one seller or groups of sellers and to differentiate them from those of competition.” - AMA
Not all products are brands. Focus of Court et al. reading
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Why Brand?
Identify product Reduce risk Reduce consumer search cost Signal quality Legal protection Create product associations Differentiate product
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Agenda
Course Overview What is a Brand? Brand Equity Brand Management
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Brand Equity
The marketing effects uniquely attributable to the brand - Keller
Positive brand equity leads to: Loyalty Margins Reduced vulnerability to competition Enhanced marketing effectiveness Brand extensions
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Brand Equity
Sources of Brand Knowledge Brand Awareness Brand Image
Strength of Brand Associations Favorability of Brand Associations Uniqueness of Brand Associations
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Brand Equity
Benefits Loyalty Larger Margins Greater Trade Support More Efficient Communications Licensing Opportunities Brand Extension Opportunities
Coke name worth $39BB, Kodak $11BB (Brand Valuation Reading)
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Best Corporate Reputations in America
70
72
74
76
78
80
82
84
Source: Wall Street Journal / Harris Poll
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Brand Equity
But how does one develop brand equity? The goal of this course is to learn how to
manage brands (via marketing programs) in order to create brand equity - that is, create an enduring advantage for your brands.
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Greater loyalty
Less vulnerability to competitive marketing actions and crises
Larger margins
More elastic response to price increases
More inelastic response to price increases
Increased marketing communica- tion efficiency and effectiveness
Possible licensing opportunities
More favorable brand extension evaluations
Figure 2-9 Building Customer-Based Brand EquityTOOLS AND OBJECTIVES KNOWLEDGE EFFECTS BENEFITS
Choosing Brand Elements (4)Brand name Logo MemorabilitySymbol MeaningfulnessCharacter TransferabilityPackaging AdaptabilitySlogan Protectability
Brand Awareness (3) Possible Outcome
Brand Associations (3)
Developing Marketing Programs (5 & 6)
Leverage of Secondary Associations (7)
Depth Recall Recognition
Breadth PurchaseConsumption
Strong RelevanceConsistency
Favorable DesirableDeliverable
UniquePoint of parityPoint of difference
Product Functional & symbolic benefitsPrice Value perceptionsDistribution channels Integrate “Push” & “Pull”Communications Mix and match options
CompanyCountry of originChannel of distribution AwarenessOther brands MeaningfulnessEndorsor TransferabilityEvent
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Agenda
Course Overview What is a Brand? Brand Equity Brand Management
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Brand Management
Brand management is the act of designing and implementing marketing programs to build and maintain brand equity. Product Price Distribution Communications
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The Role of a Brand or Product Manager
Prepare Marketing Plan Develop Copy, Programs, and Campaigns Stimulate Sales and Distribution Market Intelligence Product Improvements
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Pluses- Cost effective mix, quick market reaction, attention for small brands, good training for executives
Minuses- Conflict and frustration (responsibility and no authority), administrative work with executive expectations, learns products not functions, short horizon, costs of associates and assistants
The Role of a Brand or Product Manager
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A Product Manager - Computer Software Firm
Background Undergrad in architecture, became director of
marketing for architecture firm Received MBA International marketing manager for sporting
goods company Founded a toy company
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A Product Manager -Computer Software Firm
Typical day Meetings - new product line, marketing mix,
marketing staff, organizational design and integration
E-mail/Phone - 3rd party developers, sales force, product support
Marketing planning - drafting the marketing plan
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A Product ManagerComputer Software Firm
Marketing mix - recommends price to corporate committee, manages advertising, conducts focus groups for product positioning and development, decides on channels
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A Product Manager - Consumer Packaged Goods Firm
Background Medical equipment sales after undergraduate Received MBA Assistant Brand Manager at large CPG Company Switched firms, promoted several times to
product manager. Switched firms again to as senior product
manager
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A Product Manager -Consumer Packaged Goods Firm
Typical day 75% fighting fires, 25% planning
Marketing planning - key is volume forecasting since unsold inventory is perishable
Mix - 1/3 on pricing issues (list & trade), 20% on consumer promotions, president handles ads, 15% on distribution, little on sales and service
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A Product ManagerComputer Software Firm
Marketing mix - recommends price to corporate committee, manages advertising, conducts focus groups for product positioning and development, decides on channels.
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The Marketing Department
Marketing Administration
Advertising &Promotion
Sales
Market Research
New Products
Existing Products
VP Marketing
Design the Department!!!Matrix or Tree?
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Brand Management Issues
ProductManager
Manufacturing
R&D
Legal
Fiscal
MarketResearch
Salesforce
Publicity
Purchasing Packaging
PromotionServices
Media
AdvertisingAgency
Distribution
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A Key Trend in Product/Brand Management
Salaries and bonus for product marketers are up 65% in the last two years (Marketing News, Nov. 99)
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Brand Management Prognostications
Future of brand management Customer management vs. product management Cuts across brands and products Managers organized by portfolios of customers
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Summary
Brand Equity Awareness Associations
Created by the mix It is the role of a product manager to manage
the mix to create equity The brand management system