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Product Development & Pricing

064ac7d5965b5e0ce9d8642b946b7308?s=47 Candice Nance
November 20, 2012

Product Development & Pricing

This lecture covers two of the 4 P's of the marketing mix: product and price. All marketing begins with a product. What is the total product offer? What is the difference between product lines and product mix? What are branding strategies? How does packing affect a product?

064ac7d5965b5e0ce9d8642b946b7308?s=128

Candice Nance

November 20, 2012
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Transcript

  1. Product Development & Pricing Chapter 13

  2. Turkey Day Eve Agenda • Return student papers • Chapter

    13 lecture • Resume day activity • You’re free!!!
  3. pop quiz

  4. M’m, m’m good.

  5. that was easy

  6. the every pain reliever

  7. the computer is personal again

  8. it’s the real thing

  9. Answers

  10. M’m, m’m good.

  11. None
  12. that was easy

  13. None
  14. the every pain reliever

  15. None
  16. the computer is personal again

  17. None
  18. it’s the real thing

  19. None
  20. None
  21. Product Development & Pricing Strategies • Developing goods & services

    • Branding • New product development and the marketing mix • Pricing goods and services
  22. Developing Goods & Services

  23. None
  24. Coca Cola Commercial http://www.youtube.com/watch?v=EnUKurl7Fog

  25. Diet Coke Commercial http://www.youtube.com/watch?v=rsyrbEyVAyU

  26. Coke Zero Commercial http://www.youtube.com/watch?v=j7LMZJ_Fb1g

  27. core product + actual product + augmented product total product

    offering
  28. None
  29. Product Differentiation

  30. Product Lines & Product Mix

  31. Branding

  32. What is brand loyalty?

  33. None
  34. 1. Give your fans a name

  35. (tattoo it on your body)

  36. (tattoo it on your body)

  37. 2. Develop shared symbols

  38. 3. Make your customers feel like rockstars

  39. 4. Leverage social media

  40. What is brand equity?

  41. Brand equity: the overall value of a brand’s strength in

    the market
  42. What are the world’s most valuable brands? 2011

  43. $96 billion

  44. $76 billion

  45. $71 billion

  46. $66 billion

  47. $63 billion

  48. $62 billion

  49. $61 billion

  50. $61 billion

  51. $60 billion

  52. $59 billion

  53. Branding Strategies 6

  54. Generic Brands a product that has no brand at all

  55. Manufacturer’s Brand a brand created by producers

  56. Private Brand a brand created by a distributor or middleman

  57. Family Brand many products under the same brand name

  58. Individual Brand a brand assigned to each product w/in product

    mix
  59. Co-Brand use of multiple brands with a single product

  60. Brand Licensing

  61. A good brand name is: 1. copyright protected 2. pronounceable

    3. memorable 4. recognizable 5. eye-catching 6. beneficial 7. image-promoting 8. distinguishable 9. attractive 10.standout
  62. the importance of brand packaging

  63. the importance of labeling

  64. New Product Development & the Marketing Mix

  65. None
  66. None
  67. Pricing

  68. Pricing Strategies • cost-based pricing • demand-based pricing • competition-based

    pricing • alternative pricing strategies • pricing skimming • penetration pricing
  69. Adjusting Prices •  Discounts) o Quantity) o Cash) o Seasonal) o Allowances4(trade8in)) •  Rebates)

    •  Bundling) •  Dynamic4pricing) • quantity discounts • cash discounts • seasonal discounts • rebates • bundling • dynamic pricing • everyday low pricing (EDLP)