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PRODUCT MANAGEMENT. Marketing Management Session 6 and 7 October 10 and 17. SESSION OUTLINE (Oct.10). Brief review Theoretical concepts Managerial concepts Video: « Marketing a Product Range ». REVIEW. Planning the marketing strategy involves: Situation analysis and setting objectives

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product management

PRODUCT MANAGEMENT

Marketing Management

Session 6 and 7

October 10 and 17

session outline oct 10
SESSION OUTLINE (Oct.10)
  • Brief review
  • Theoretical concepts
  • Managerial concepts
  • Video: « Marketing a Product Range »
review
REVIEW
  • Planning the marketing strategy involves:
    • Situation analysis and setting objectives
    • Market segmentation
    • Selecting target market(s)
    • Defining a positioning strategy
    • Developing the marketing mix
marketing mix
MARKETING MIX
  • Controllable variables:
    • Product
    • Price
    • Promotion
    • Place
marketing mix1
MARKETING MIX

Price

Product

Place

Promotion

slide6

MARKETING MIX

Engineering

Price

Product

Accounting/

Finance

Place

Promotion

Operations

Sales

theoretical concepts
THEORETICAL CONCEPTS
  • Definition of a product
  • Product classifications (see Exhibit 9-4 and 9-5, pp. 304 and 309)
  • Product life cycle
definition of a product
DEFINITION OF A PRODUCT

Central

product

Tangible product

Augmented product

classification of consumer goods
CLASSIFICATION OF CONSUMER GOODS

See Exhibit 9-4, page 304

classification of business products
CLASSIFICATION OF BUSINESS PRODUCTS

See Exhibit 9-5, page 309

intangible goods
INTANGIBLE GOODS
  • Simultaneous consumption and production
  • Wide variations in demand over short periods of time
  • Many different types of services:
    • continuous services (electricity, telephone)
    • produced by a person (banking)
    • produced to a person (doctor, hairdresser)
managerial decisions
MANAGERIAL DECISIONS
  • Elements of the product:
    • physical attributes
    • brand name and logo
    • packaging and colours
    • format
    • labelling
    • guarantees, after-sales service
managerial decisions1
MANAGERIAL DECISIONS
  • Managing an existing product line
  • Developing and introducing new products
  • Organizing the marketing department
next session
NEXT SESSION
  • Product life cycle
  • New product introductions
  • Case discussion: Cineplex Odeon
  • Review for mid-term exam
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