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marketing, lecture 8 ass.prof.I.I.Skorobogatykh (Ph.D) 1 Slide 11-2 MANAGING

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marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)Slide 11-5LECTURE QUESTIONS:Product life-cycle (PLC) concept and marketing strategy related to each stage of PLCDifference in product life cycles for various products and their implications for marketing

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Слайд 1marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
Slide 11-2
MANAGING PRODUCTS, SERVICES, AND BRANDS
CHAPTER
Associate professor

of Plekhanov REA marketing department
Irina I.Skorobogatykh (Ph.D)
Lecture 8

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)Slide 11-2MANAGING PRODUCTS, SERVICES, AND BRANDSCHAPTERAssociate professor of Plekhanov REA marketing departmentIrina I.Skorobogatykh (Ph.D)Lecture

Слайд 2marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
Slide 11-5
LECTURE QUESTIONS:
Product life-cycle (PLC) concept and

marketing strategy related to each stage of PLC

Difference in

product life cycles for various products and their implications for marketing decisions.
marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)Slide 11-5LECTURE QUESTIONS:Product life-cycle (PLC) concept and  marketing strategy related to each stage

Слайд 3marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
Slide 11-6
LECTURE QUESTIONS:
Different approaches to managing a

product’s life cycle.

Elements of brand personality and brand equity

and the criteria for the good brand name.
marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)Slide 11-6LECTURE QUESTIONS:Different approaches to managing a product’s life cycle. Elements of brand personality

Слайд 4marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
Slide 11-7
LECTURE QUESTIONS:
Different branding strategies employed by

companies.

Role of packaging and labeling in the marketing of a

product.
marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)Slide 11-7LECTURE QUESTIONS:Different branding strategies employed by companies.Role of packaging and labeling in the

Слайд 5marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
THE PRODUCT LIFE CYCLE
Slide 11-11
Product Life Cycle

Primary Demand
Introduction Stage
Selective Demand
Skimming Pricing
Penetration Pricing

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)THE PRODUCT LIFE CYCLESlide 11-11Product Life Cycle Primary DemandIntroduction Stage Selective Demand Skimming Pricing

Слайд 6marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
Slide 11-78
The product life cycle describes the

stages a new product goes through in the marketplace: introduction,

growth, maturity, and decline.

Product Life Cycle

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)Slide 11-78The product life cycle describes the stages a new product goes through in

Слайд 7marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
Slide 11-12

Relationships of stages of the

PLC and firm’s marketing objectives and marketing mix actions

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)Slide 11-12 Relationships of stages of the PLC and firm’s marketing objectives and marketing

Слайд 8marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
THE PRODUCT LIFE CYCLE
Slide 11-16
Growth Stage
Repeat

Purchasers
Maturity Stage
Deletion
Harvesting
Decline Stage

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)THE PRODUCT LIFE CYCLESlide 11-16Growth Stage Repeat PurchasersMaturity Stage Deletion HarvestingDecline Stage

Слайд 9marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
THE PRODUCT LIFE CYCLE
Slide 11-24
The Life

Cycle and Consumers
Some Dimensions of the Product Life Cycle
Diffusion of

Innovation
marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)THE PRODUCT LIFE CYCLESlide 11-24 The Life Cycle and ConsumersSome Dimensions of the Product

Слайд 10marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
Slide 11-25
Five categories and profiles of

product adopters

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)Slide 11-25 Five categories and profiles of product adopters

Слайд 11marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
Slide 11-26

1. Advertising plays a major

role in the ___________ stage of the product life cycle

and _____________ plays a major role in maturity.

introductory

sales promotion

Concept Check

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)Slide 11-26			 1. Advertising plays a major role in the ___________ stage of the

Слайд 12marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
Slide 11-27

2. How do high-learning and low-learning

products differ?
A: A high-learning product requires significant customer education and

there is an extended introductory period. A low-learning product requires little customer education because the benefits of purchase are readily understood, resulting in immediate sales.

Concept Check

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)Slide 11-27			 2. How do high-learning and low-learning products differ?A: A high-learning product requires

Слайд 13marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
MANAGING THE PRODUCT LIFE CYCLE
Slide 11-28
Modifying the Product

Product Modification
Finding New Users
Modifying the Market
Market Modification
Increasing

Use

Creating New Use Situations

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)MANAGING THE PRODUCT LIFE CYCLESlide 11-28Modifying the Product Product Modification Finding New UsersModifying the

Слайд 14marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
Slide 11-33

1. What does “creating new

use situations” mean in managing a product’s life cycle?
A: Finding

new uses for an existing product.

Concept Check

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)Slide 11-33			 1. What does “creating new use situations” mean in managing a product’s

Слайд 15marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
Slide 11-34

2. Explain the difference between

trading up and trading down in repositioning.
A: Trading up involves

adding value to the product (or line) through additional features or higher-quality materials. Trading down involves reducing the number of features, quality, and price, or downsizing—reducing the content of packages without changing package size and maintaining or increasing the package price.

Concept Check

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)Slide 11-34			 2. Explain the difference between trading up and trading down in repositioning.A:

Слайд 16marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
BRANDING AND BRAND MANAGEMENT
Slide 11-35
Branding
Brand Personality
Brand

Equity
Creating Brand Equity
Brand Name
Brand Personality and Brand Equity
Valuing

Brand Equity
marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)BRANDING AND BRAND MANAGEMENTSlide 11-35Branding Brand Personality Brand Equity Creating Brand EquityBrand NameBrand Personality

Слайд 17marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
Slide 11-79
Branding is a marketing decision, in

which an organization uses a name, phrase, design, symbol, or

combination of these to identify its products and distinguish them from those of competitors.

Branding

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)Slide 11-79Branding is a marketing decision, in which an organization uses a name, phrase,

Слайд 18marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
Slide 11-80
A brand name is any word,

“device” (design, sound, shape, or color) or combination of these

to distinguish a seller’s goods or services.

Brand Name

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)Slide 11-80A brand name is any word, “device” (design, sound, shape, or color) or

Слайд 19marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
Slide 11-82
Brand equity is the added value

a given brand name gives to a product beyond the

functional benefits provided.

Brand Equity

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)Slide 11-82Brand equity is the added value a given brand name gives to a

Слайд 20marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
Slide 11-38
Customer-based brand equity pyramid

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)Slide 11-38 Customer-based brand equity pyramid

Слайд 21marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
BRANDING AND BRAND MANAGEMENT
Slide 11-39
Manufacturer Branding
Picking a

Good Brand Name
Branding Strategies
Multiproduct Branding
Line Extension
Brand Extension

Subbranding

Multibranding (blanket) strategy

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)BRANDING AND BRAND MANAGEMENTSlide 11-39 Manufacturer BrandingPicking a Good Brand NameBranding Strategies Multiproduct Branding

Слайд 22marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
Slide 11-40
Four criteria for picking a

good brand name

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)Slide 11-40 Four criteria for picking a good brand name

Слайд 23marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
Slide 11-41
Alternative branding strategies

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)Slide 11-41 Alternative branding strategies

Слайд 24marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
Slide 11-83
Multiproduct branding is when a company uses

one name for all its products.
Multiproduct Branding

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)Slide 11-83Multiproduct branding is when a company uses one name for all its products.Multiproduct

Слайд 25marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
Slide 11-84
Multibranding involves giving each product a

distinct name .
Multibranding

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)Slide 11-84Multibranding involves giving each product a distinct name .Multibranding

Слайд 26marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
BRANDING AND BRAND MANAGEMENT
Slide 11-45
Private Branding
Branding Strategies

Private Labeling
Reseller Branding
Mixed Branding

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)BRANDING AND BRAND MANAGEMENTSlide 11-45 Private BrandingBranding Strategies Private Labeling  Reseller Branding Mixed

Слайд 27marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
CREATING CUSTOMER VALUE THROUGH PACKAGING AND LABELING
Slide 11-46
Packaging
Communication

Benefits
Functional Benefits
Perceptual Benefits
Label

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)CREATING CUSTOMER VALUE THROUGH PACKAGING AND LABELINGSlide 11-46PackagingCommunication BenefitsFunctional BenefitsPerceptual Benefits Label

Слайд 28marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
Slide 11-85
Packaging is any container in which

a product is offered for sale and on which label

information is conveyed.

Packaging

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)Slide 11-85Packaging is any container in which a product is offered for sale and

Слайд 29marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
MANAGING THE MARKETING OF SERVICES
Slide 11-49
Exclusivity
Product (Service)

Branding
Capacity Management

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)MANAGING THE MARKETING OF SERVICESSlide 11-49 ExclusivityProduct (Service) Branding Capacity Management

Слайд 30marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
Slide 11-86
Capacity management involves integrating the service

component of the marketing mix with efforts to influence consumer

demand.

Capacity Management

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)Slide 11-86Capacity management involves integrating the service component of the marketing mix with efforts

Слайд 31marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
MANAGING THE MARKETING OF SERVICES
Slide 11-50
Pricing
Off-Peak Pricing
Place

(Distribution)
Promotion

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)MANAGING THE MARKETING OF SERVICESSlide 11-50Pricing Off-Peak PricingPlace (Distribution)Promotion

Слайд 32marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
Slide 11-87
Off-peak pricing consists of charging different

prices during different times of the day or days of

the week to reflect variations in demand for the service.

Off-Peak Pricing

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)Slide 11-87Off-peak pricing consists of charging different prices during different times of the day

Слайд 33marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
Slide 11-51

1. What is the difference

between a line extension and a brand extension?
A: A line

extension is the practice of using a current brand name to enter a new market segment in its product class, whereas a brand extension is the practice of using a current brand name to enter a completely different product class.

Concept Check

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)Slide 11-51			 1. What is the difference between a line extension and a brand

Слайд 34marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
Slide 11-52

2. Explain the role of

packaging in terms of perception.
A: A package can communicate status,

economy, and product quality to prospective buyers.

Concept Check

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)Slide 11-52			 2. Explain the role of packaging in terms of perception.A: A package

Слайд 35marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
Slide 11-53

3. How do service businesses

use off-peak pricing?
A: Service businesses use off-peak pricing, which consists of

charging different prices during different times during the day or days of the week, to reflect variations in demand for the service.

Concept Check

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)Slide 11-53			 3. How do service businesses use off-peak pricing?A: Service businesses use off-peak

Слайд 36marketing, lecture 8
ass.prof.I.I.Skorobogatykh (Ph.D)
Slide 11-81
A brand personality is a set

of human characteristics associated with a brand name.
Brand Personality

marketing, lecture 8ass.prof.I.I.Skorobogatykh (Ph.D)Slide 11-81A brand personality is a set of human characteristics associated with a brand

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