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?

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.
12. that was easy
14. the every pain reliever
16. the computer is personal again
18. it’s the real thing
21. Product Development & Pricing Strategies • Developing goods & services • Branding • New product development and the marketing mix • Pricing goods and services
22. Developing Goods & Services
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
29. Product Differentiation
30. Product Lines & Product Mix
31. Branding
32. What is brand loyalty?
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
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)