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4/20 Warm-up. Identify 2 competitors in the same market. Explain how your business distinguishes itself from its competitors What do they want people to believe?. Key Product Marketing Concepts. Product Positioning Product in relationship to competitors.\ Product Life Cycle

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4 20 warm up
4/20 Warm-up

  • Identify 2 competitors in the same market.

  • Explain how your business distinguishes itself from its competitors

    • What do they want people to believe?


Key product marketing concepts
Key Product Marketing Concepts

  • Product Positioning

    • Product in relationship to competitors.\

  • Product Life Cycle

    • Adjusting marketing strategies based on sales/revenue.

  • Managing Product Portfolio

    • BCG Matrix


Product positioning p osition product in the mind of the market
Product PositioningPosition product in the mind of the market

GOAL

FOCUS

An Image

Market’s Perception

Set Apart from Competition


Vision for Employees

(staff = brand builders)

Values,

Identity, Vision

Shape Public’s Perception

(images, feelings, impressions)

Internal

Promise

a

BRAND

is...

Risk Reducer

(build trust)

Consistency

External

Short-hand

(delivers chunks of information)

Experience

Positioning

(functional & emotional)


Apple case study objectives
Apple Case Study - Objectives

  • Define product line, mix and range.

  • Identify stages in the life cycle of Apple’s products

    • Calculate annual sales

    • Illustrate the life cycle using charts

    • Identify marketing strategies appropriate for each stage

    • Explain the connection between investment/profit/cash flow & the life cycle stages

    • Identify extension strategies

  • Use the Boston Consulting Group (BCG) matrix to analyze a product portfolio




4 23 warm up
4/23 Warm-up

  • Work with your group to complete the Branding Worksheet

    • Choose a brand (any), draw symbol/mark on worksheet.

    • Respond to questions.




iPod

1G Commercial


Iphone
iPhone

1G Commercial



Boston consulting group bcg matrix
Boston Consulting Group (BCG) Matrix

Industry Attractiveness

Competitive Advantage


Boston consulting group bcg matrix1
Boston Consulting Group (BCG) Matrix

Cash Usage

Cash Generation


Boston consulting group bcg matrix2
Boston Consulting Group (BCG) Matrix

Industry Attractiveness

Cash Usage

Cash Generation

Competitive Advantage


Bcg matrix
BCG Matrix


Boston consulting group bcg matrix3
Boston Consulting Group (BCG) Matrix

High

Market Growth

Low

Relative Market Share

Low

High


Product Positioning Map

Rip-off

High

Price

Premium

Chipotle

Qdoba

Taco del Mar

Low

Quality

Taco Time

High

Quality

Taco Bell

Value

Low

Price

Bargain


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