Marketing

Management
II Session 1
Hello!
I am Ravikanth
I would be taking you thru the
course of Marketing
Management II
During the first semester
+ Marketing Orientations, Consumer
Behaviour,
+ Business Marketing, Developing a global
vision
+ Segmentation, Targeting and Positioning,
+ Marketing Mix, Social Media Marketing
etc.
You have learnt about.
Product
Concepts
Unit 1
What is a
Product?
 “
Product: everything, both favorable and
unfavorable, that a person receives in an
exchange
+ Tangible goods
+ Services
+ Ideas
 Core Features
A core feature is a basic component of
a product. A marketer needs to define
the core benefits offered by the
product to the customers.

Associated
Features
Firms selling the similar product
compete on the basis of the associated
features as the core feature is the
same for all.
PRODUCT & FEATURES
POTENTIAL PRODUCT
This includes all the augmentations and
transformations a product might undergo in the
future.

AUGMENTED PRODUCT
The inclusion of additional features, benefits,
attributes or related services that serve to
differentiate the product from its competitors.

EXPECTED PRODUCT
The set of attributes or characteristics that buyers
normally expect and agree to when they purchase a
product.

CORE PRODUCT
Core product is the level where the marketer needs
to convert the basic requirement of a customer into
a basic product.
Nature of the Product

Expected Augmented Potential

Core Product Product Product Product
A set of A set of Features or Feature or
features of a attributes and benefits of a benefit that
product that conditions product that encompasses
fulfill the needs buyers normally exceed the all the possible
of customers. expect when customers augmentations
they purchase expectations. and
a specific transformation
product. of

© 2019 Cengage. All rights reserved.

 Cars

Product Hierarchy is
represented in a organizational
chart that depicts the Tata Motors product hierarchy Commercial vehicles
assortment of products offered
in a given market.

Defense equipment

Eg. TV, Washing Machine,

Durables
Refrigerators etc.

Durability and Tangibility Non-durables Eg. Toothpaste, Soaps, etc.

Beauty services, Product

Services
warranties

© 2019 Cengage. All rights reserved.

Convenience

Shopping

CONSUMER
Specialty PRODUCTS

Unsought
Product usage

Convenience Food items, daily

products consumables

Electronic
equipments such
Shopping products
as cameras, mobile
Consumer phones
Products Luxury cars,
Watches like
Specialty products
Rolex, TagHeuer
etc.

Insurance, repair
Unsought products
services
© 2019 Cengage. All rights reserved.
BUSINESS 2 BUSINESS PRODUCTS

B-to-B, is a form of transaction between businesses, such as one

1 involving a manufacturer and wholesaler or a wholesaler and a retailer.

B2B transactions tend to happen in the supply chain, where one

2 company will purchase raw materials from another to be used in the
manufacturing process

B2B transactions are also commonplace for auto industry companies,

3 as well as property management, housekeeping, and industrial cleanup
companies.

B2B organizations tend to follow the 80-20 principle where small

4 number of buyers doing large amounts of business.
Let’s discuss
with
Smartphone
 Product Items, Lines, and Mixes
+ Product items: a specific version of a product that
can be designated as a distinct offering among an
organization’s products
+ Product line: a group of closely related product
items
+ Product mixes: all products that an organization
sells
+ Product mix width: the number of product lines an
organization offers
+ Product line depth: the number of product items in
a product line © 2019 Cengage. All rights reserved.
Product Mix Strategies

• It can be done by introducing products either related or

Expansion of product mix unrelated to the current product mix.

Contraction of product mix • Marketers can simplify product lines through assortments.

• Marketers can later the product mix by redesigning ,

Altering existing products improved packaging or by adding new features.

• Marketers generally position the product in relation to the

Positioning the product target market.

• Marketers introduce premium priced products in the

Trading up existing specialty product lines.

• Marketers introduce low priced products in the existing

Trading down specialty product lines.

© 2019 Cengage. All rights reserved.

Adjustments to Product Items, Lines, and Mixes

Quality modification

Functional modification
WHY
ADJUSTMENTS?
Style modification Over time, firms change product items, lines,
and mixes to take advantage of new technical
or product developments or to respond to
changes in the environment.
Planned obsolescence
They may adjust by modifying products,
repositioning products, or extending or
contracting product lines.
Repositioning

Product Line extensions

Product Line contraction

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Branding
+ The success of any business or consumer product
depends in part on the target market’s ability to
distinguish one product from another.
+ Branding is the main tool marketers use to
distinguish their products from those of the
competition.
+ A brand is a name, term, symbol, design, or
combination thereof that identifies a seller’s
products and differentiates them from
competitors’ products.
Importance of Branding
Branding has three main Branding allows
purposes: marketers to distinguish
Product identification, their products from all
others.
Repeat sales, and
The most important
New-product sales
purpose is product
identification.
 Branding

+ Brand: a name, term, symbol, design, or combination

that identifies a seller’s products and differentiates them
from competitors’ products
+ Brand name: that part of a brand that can be spoken,
including letters, words, and numbers
+ Brand mark: the elements of a brand that cannot be
spoken

© 2019 Cengage. All rights reserved.

 Benefits of Branding
+ Branding has three main purposes:
+ Product identification
+ Repeat sales
+ New-product sales
+Brand equity: the value of a company or brand name
+Global brand: a brand that obtains at least one-third of its earnings
from outside its home country, is recognizable outside its home base
of customers, and has publicly available marketing and financial data
+Brand loyalty: consistent preference for one brand over all others

© 2019 Cengage. All rights reserved.

Terminologies
Brand Equity Global Brand Brand Loyalty
The value of a A brand that Consistent
company or brand obtains at least preference for one
name. one-third of its brand over all
earnings from others.
outside its home
country, is
recognizable
outside its home
base of customers,
and has publicly
available marketing
and financial data
 Manufacturers’ Brands Versus
Private Brands
+ Manufacturer’s brand: the brand name of a
manufacturer
+ Private brand: a brand name owned by a wholesaler or
a retailer
+ No longer seen as low-cost, low-quality products
+ Captive brands: a brand manufactured by a third party
for an exclusive retailer, without evidence of that retailer’s
affiliation

© 2019 Cengage. All rights reserved.

Comparison of Manufacturer’s and Private Brands from the
Reseller’s Perspective
Key Advantages of Carrying Key Advantages of Carrying
Manufacturer’s Brands Private Brands
Heavy advertising to the consumer by manufacturers such as A wholesaler or retailer can usually earn higher profits on its
Procter & Gamble helps develop strong consumer loyalties. own brand. In addition, because the private brand is exclusive,
there is less pressure to mark down the price to meet
competition
Well-known manufacturers’ brands, such as Kodak and Fisher- A manufacturer can decide to drop a brand or a reseller at any
Price, can attract new customers and enhance the dealer’s time or even become a direct competitor to its dealers.
(wholesaler’s or retailer’s) prestige.

Many manufacturers offer rapid delivery, enabling the dealer to A private brand ties the customer to the wholesaler or retailer. A
carry less inventory. person who wants a DieHard battery must go to Sears.

If a dealer happens to sell a manufacturer’s brand of poor Wholesalers and retailers have no control over the intensity of
quality, the customer may simply switch brands and remain loyal distribution of manufacturers’ brands. Walmart store managers
to the dealer. don’t have to worry about competing with other sellers of Sam’s
American Choice products or Ol‘ Roy dog food. They know that
these brands are
sold only in Walmart and Sam’s Club stores.

© 2019 Cengage. All rights reserved.

Individual Brands Versus Family Brands

+ Individual branding: using different brand names for

different products
+ Family branding: marketing several different products
under the same brand name

© 2019 Cengage. All rights reserved.

 Co-branding

+ Co-branding: placing two or more brand names on a

product or its package
+ Types of co-branding:
+ Ingredient branding: Identifies the brand of a part that
makes up the product
+ Cooperative branding: Occurs when two brands receiving
equal treatment borrow from each other’s brand equity
+ Complementary branding: Suggests usage by advertising
and marketing products that are used together

© 2019 Cengage. All rights reserved.

Individual Brands Versus Family Brands

+ Individual branding: using different brand names for

different products
+ Family branding: marketing several different products
under the same brand name

© 2019 Cengage. All rights reserved.

 Co-branding

+ Co-branding: placing two or more brand names on a

product or its package
+ Types of co-branding:
+ Ingredient branding: Identifies the brand of a part that
makes up the product
+ Cooperative branding: Occurs when two brands receiving
equal treatment borrow from each other’s brand equity
+ Complementary branding: Suggests usage by advertising
and marketing products that are used together

© 2019 Cengage. All rights reserved.

 Trademarks
+ Trademark: the exclusive right to use a brand or part of a brand
+ Service mark: a trademark for a service
+ Steps to register a trademark:
+ Intent-to-use application is filed with the U.S. Patent and Trademark
Office
+ Company should have a genuine intention to use the mark
+ Company should use it within three years of the granting of the
application
+ Generic product name: Identifies a product by class or
type and cannot be trademarked

© 2019 Cengage. All rights reserved.

 Packaging Functions

+ Functions of packaging:
+ Contain and protects products
+ Promote products
+ Facilitate storage, use, and convenience of products
+ Facilitate recycling and reduces environmental damage

© 2019 Cengage. All rights reserved.

 Labeling

+ Persuasive labeling: a type of package labeling that focuses

on a promotional theme or logo, and consumer information is
secondary
+ Informational labeling: a type of package labeling
designed to help consumers make proper product selections
and lower their cognitive dissonance after the purchase
+ Greenwashing: attempt to give the impression of
environmental friendliness whether or not it is environmentally
friendly

© 2019 Cengage. All rights reserved.

Any Questions?
Developing and
Managing
Products
New products are important to
sustain growth, increase
revenues and profits, and
replace obsolete items
Some companies spend a
considerable amount of
money each year developing
new products
It can be difficult to decide
when to replace a successful
product
The introduction of a new
product is a monumental
undertaking with a lot of open-
ended questions
.
 Categories of New Products
+ New product: a product new to the world, the
market, the producer, the seller, or some
combination of these
+ Six categories of new products
+ New-to-the-world products
+ New product lines
+ Additions to existing product lines
+ Improvements or revisions of existing products
+ Repositioned products
+ Lower-priced products
© 2019 Cengage. All rights reserved.
 New-Product Strategy
+ New-product strategy: a plan that links the
new-product development process with the
objectives of the marketing department, the
business unit, and the corporation
+ It sharpens the focus and provides general
guidelines for generating, screening, and
evaluating new-product ideas
+ Specifies the roles that new products must play in
the organization’s overall plan

© 2019 Cengage. All rights reserved.

New-Product Development Process

© 2019 Cengage. All rights reserved.

Want big impact? Use big image.
Use charts to explain your
ideas

White Gray Black

And tables to compare data
A B C

Yellow 10 20 7

Blue 30 15 10

Orange 5 24 16
Maps
our
office
89,526,12
Whoa! That’s a big number, aren’t you proud?

4
89,526,124$
That’s a lot of money

185,244
And a lot of users
users
100%
Total success!
Our process is easy

first second last

Let’s review some concepts
Yellow Blue Red
Is the color of gold, butter Is the colour of the clear Is the color of blood, and
and ripe lemons. In the sky and the deep sea. It is because of this it has
spectrum of visible light, located between violet historically been
yellow is found between and green on the optical associated with sacrifice,
green and orange. spectrum. danger and courage.

Yellow Blue Red

Is the color of gold, butter Is the colour of the clear Is the color of blood, and
and ripe lemons. In the sky and the deep sea. It is because of this it has
spectrum of visible light, located between violet historically been
yellow is found between and green on the optical associated with sacrifice,
green and orange. spectrum. danger and courage.
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Thanks!
Any questions?
You can find me at:
+ @username
+ [email protected]
Credits
Special thanks to all the people who made
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+ Photographs by Unsplash
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