Defining the Product Offering MKT 3865 Dr. Don Roy.

Slides:

Advertisements

Similar presentations

Chapter 8 Market Segmentation, Targeting and Positioning

Advertisements

Introduction to Marketing

Foundations of Chapter M A R K E T I N G Copyright © 2003 by Nelson, a division of Thomson Canada Limited. Services 12.

CHAPTER 6 PRODUCT part three: the marketing mix. an opening challenge You are a manager in a large confectionery company which has just taken over another.

What We Will Discuss Today u Recap of Previous Session –Video –Segmentation F Review and Background F Impact on Gift Giving u Bases of Segmentation –Criteria.

1. 2 Session #13 : Agenda for MM2– MARKETING STRATEGY Logistical Issues & Review Tools for Strategic ‘Shaping’ of Customer Preferences (cont.) ODI Case.

Product and Services Strategy

Strategic Planning and the Marketing Process

Targeting, and Positioning for Competitive Advantage

Chapter 8 Market Segmentation, Targeting, and Positioning

Marketing for Hospitality and Tourism, 3e©2002 Pearson Education, Inc. Philip Kotler, John Bowen, James MakensUpper Saddle River, NJ Chapter 1.

Strategic Planning and the Marketing Process

Marketing Mix – Product Element

7-1 Chapter Seven Product, Services, and Branding Strategy.

Marketing: An Introduction Armstrong, Kotler

Sports Product HSS 3000/5263 Sport Marketing Brian Turner.

The Product Lifecycle and New Product Development

Designing and Managing Products

Technology Ventures: From Idea to EnterpriseChapter 11: Summary What is the best way to attract, serve, and retain customers? Any new firm needs to build.

Chapter 11 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 11-1 Product and Service Strategies.

Chapter 2- slide 1 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Chapter Two Company and Marketing Strategy Partnering to Build.

TOPIC:Topic 4: Marketing LESSON TITLE:The Marketing Mix (Product) LEARNING INTENTION: To understand the process involved in the product component of the.

© Prentice Hall, 2004 Business In Action 2eChapter Developing Product and Pricing Strategies.

© 2007 Pearson Education, Upper Saddle River, NJ All Rights Reserved. Shoemaker, Lewis, and Yesawich: Marketing Leadership in Hospitality and Tourism,

MARKETING MANAGEMENT 12 th edition 12 Setting Product Strategy KotlerKeller.

©2003 Prentice Hall, Inc.To accompany A Framework for Marketing Management, 2 nd Edition Slide 0 in Chapter 10 Chapter 10 Developing, Positioning, and.

Designing an Identity. Why is designing an identity important? 1 Designing an identity is one of the fundamental tasks for a sports organization. If done.

Chapter Six Segmentation, Targeting, and Positioning:

Product: Concept, importance & Classification

© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

PROJECT TITLE Project Leader: Team: Executive Project Sponsor (As Required): Date: Month/Day/Year 16/25/2015 V2.

Chapter 7: Product Planning and Strategies. What is a Product?  It is a set of tangible and intangible attributes, including packaging, colour, price,

2-1 Visit UMT online at © UMT 2004 MKT100Version: PRINCIPLES OF MARKETING University of Management and Technology 1901 N. Fort.

©2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition Upper Saddle River, NJ Kotler, Bowen, and Makens Chapter 1 Introduction.

©2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition Upper Saddle River, NJ Kotler, Bowen, and Makens Chapter 8 Market.

© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Marketing Mix: Product. Product  Consumers often think that a product is simply the physical item that he or she buys. In order to actively explore the.

Lesson 7.1 – Understanding Sales Copyright © 2013 by Sports Career Consulting, LLC.

Chapter Sport Marketing F. Wayne Blann, Ithaca College Ketra L. Armstrong, California State University at Long Beach C H A P T E R.

Chapter 7 The Sport Product. Objectives To recognize the elements of the sport product that contribute to its uniqueness in the wider marketplace of goods.

INTRODUCTION TO MARKETING SHAH KEVAL En. No.:

Final Project Presentation Plan of the presentation.

Marketing II Chapter 6: Customer-Driven Marketing Strategy: Creating Value for Target Customers.

 Copyright 1999 Prentice Hall 5-1 Chapter 5 PRINCIPLES OF MARKETING Eighth Edition Philip Kotler and Gary Armstrong Consumer Markets and Consumer Buyer.

Adoption of, Resistance to, and Diffusion of Innovations

DEMAND DRIVEN STRATEGY

Lesson 7.1 – Understanding Sales.

Copyright © 2007 McGraw-Hill Ryerson Limited

Sports and Entertainment Marketing

Marketing case DIY Producing/selling Market situation

MGT301 Principles of Marketing

FIVE PRODUCT LEVELS Core benefit of the product Generic product

MARKETING MANAGEMENT 12th edition

Market Segmentation, Targeting, and Positioning

MARKETING MANAGEMENT 12th edition

What We Will Discuss Today

Lecturer: Lulu Saud Altweem

LECTURE SLIDES BY Dr VIPUL JAIN PhD,PGDBA,MBA,MA(Eco,),PGDMSM,BA(Eco.)

Setting Product Strategy

Instructor: Safaa S. Y. Dalloul

19 Tourism Marketing. 19 Tourism Marketing Learning Objectives Appreciate the Internet’s impact on tourism marketing. Become familiar with the marketing.

Introduction to Marketing

عمادة التعلم الإلكتروني والتعليم عن بعد

Ag & Resource Economics

Chapter 1 Introduction Marketing for Hospitality and Tourism

MARKETING MANAGEMENT 12th edition

Introduction to Marketing

Introduction to Marketing Miss Mary Lynn Mundell.

Presentation transcript:

Defining the Product Offering MKT 3865 Dr. Don Roy

What is a product?

How Does a Business Grow? Products Markets New Existing Market Development Market Penetration Diversification Product Development

The Sports Product Tangible Product Intangible Service Live ExperienceDigital Experience Personalities Product Portfolio

What are the 3 levels of a product?

Levels of a Product Core Product Benefits Provided Actual Product Characteristics or Attributes Augmented Product Value Added Features Source: Based on Gary Armstrong and Philip Kotler (2011), Marketing: An Introduction, 10 th edition, Upper Saddle River, NJ: Prentice Hall.

Which of the 3 levels of a product has the greatest potential to be used to differentiate a sports product from its competition? Why?

Augmented Product Adds Value for College Football Game Attendees Actual Product Element Augmented Product Element Value Added Parking LotReserved lots; Trolley service; Tailgating areas Convenience, socialization Seating AreaSuites, club seats, chair- back seats Exclusivity, comfort ConcessionsRestaurantsQuality, variety ScoreboardHD video scoreboardsEntertainment, aesthetics HalftimeHalftime contestsEntertainment, involvement Home TeamPre-game team “walk”Excitement, access

XFL: Dissecting the Product Actual Product Mix of NFL/non-NFL markets “Scramble” replaced coin toss No PAT kicks “No fair catch” rule Game winning bonus for players

Augmented Product On-field cameras Coaches and locker rooms “miked” “He Hate Me” Racy cheerleaders XFL: Dissecting the Product

What are 4 influences on the adoption of an innovation by consumers?

Influences on Innovation Adoption Relative advantage Point of difference compared to status quo Compatibility Congruent with consumers’ desires and behaviors Complexity Ease of learning Trialability Do incentives exist for sampling or first use?

XFL Post Mortem Debut season – 2001 Last season – 2001 Why did the XFL fail?

Using New Products to Drive Growth 1.Expand existing customer relationships 2.Attract new customers in existing markets 3.Enter new markets

Growth-by-Product Examples Leverage Existing Relationships New Customers / Existing Markets Enter New Markets