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Brand Marketing . Managing product and brands. The Product Life Cycle Concept. Products, like people, have been viewed as having a life cycle. The concept of the product life cycle describes the stages a new product goes through in the marketplace: introduction, growth, maturity, and decline.

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brand marketing

Brand Marketing

Managing product and brands

slide2

The Product Life Cycle Concept

  • Products, like people, have been viewed as having a life cycle.
  • The concept of theproduct life cycledescribes the stages a new product goes through in the marketplace: introduction, growth, maturity, and decline.
slide3

Some Dimensions of the PLC--Length

1. Consumer products have shorter PLCs than industrial products.

2. Mass communication informs consumers faster and shortens PLCs.

3. Products affected by technological change tend to have shorter PLCs.

slide4

Some Dimensions of the PLC--Shape

1. High learning product

2. Low learning product

3. Fashion product

4. Fad product

slide5

Some Dimensions of the PLC--Product Level

1. Product brand -- the specific version of a

product offered by a particular company

2. Product class -- refers to the entire product

category or industry such as video games

3. Product form -- pertains to variations

within the product class

slide6

The PLC’s life and Consumers

1. Usage barriers -- the product is not compatible with existing habits.

2. Value barriers -- the product provides no

incentive to change…not that much better.

3. Risk barriers -- risk can be physical, social or

economic/financial.

4. Psychological barriers -- which can be the result of cultural differences or image.

managing the plc
Managing the PLC
  • Product manager. Manages the marketing efforts for a close-knit family of products or brands.
  • Product Modification involves altering a product’s characteristic, such as its quality, performance, or appearance, to try to increase and extend the product’s sales:
    • new features
    • new package
    • new scents, etc.
slide8

Branding

  • Branding involves an organization using a name, phrase, design, symbols,or combination of these to identify its products and distinguish them from those of competitors.
  • Abrand name is any word, “device” (design, sound, shape, or colour), or combination of these used to distinguish a seller’s goods or services.
slide9

Branding

  • Atrade name is a commercial, legal name under which a company does business. For example, the Campbell Soup Company is the trade name of that firm.
  • Atrademark identifies that a firm has legally registered its brand name or trade name so the firm has its exclusive use, thereby preventing others from using it.
slide10

Examples of Well-Known Trademarks, Brand Names, and Trade Names

Brand name that

can be spoken

Big Mac hamburger

Levi’s jeans

Teflon plastic

Betty Crocker cake

mix

Macintosh computer

Brand name that

cannot be spoken

Trade name/

legal name/

of organization

Campbell Soup Co.

Compaq Corp.

Ford Motor Co.

Kellogg Co.

Ralston Purina Co.

LOGOS

Trademark, brand name, or trade name

registered with the and Trademark Office

slide11

Definition of Brand Equity

Brand Equityis . . . .

The added value a given brand provides a product beyond the functional benefits provided.

slide12

Definition of Licensing

Licensingis . . . .

a contractual agreement whereby a company allows another firm to use its brand name, patent, trade secret, or other property for a royalty or a fee.

slide13

Alternative Branding Strategies

Branding strategy

Manufacturer branding strategy

  • Multiproduct branding strategy
  • Sunbeam makes:
    • Sunbeam irons
    • Sunbeam
    • toasters
    • Sunbeam
    • crockware
  • Toro makes:
    • Toro snowblowers
    • Toro lawn mowers
    • Toro garden hoses
  • Multibranding strategy
  • Pillsbury Canada makes:
    • Green Giant
    • Prima
    • Old El Paso
    • Underwood
  • Private branding strategy
  • Sears Canada has:
    • Kenmore
    • appliances
    • Craftsman
    • tools
    • Die Hard batteries
  • Mixed branding strategy
  • Michelin makes:
    • Michelin
    • tires
    • Sears tires
  • Epson makes printers as:
    • Epson
    • IBM

Generic branding strategy

Dog food

Peanut butter

Green beans

Paper towels

Aspirin

Cola

slide14

Packaging

  • Packaging is the component of a product that refers to any container in which it is offered for sale and on which information is communicated.
  • To a great extent, the customer’s first exposure to a product is the package.
  • Packaging is expensive and an important part of marketing strategy.