1. Introduction to Product Management
Prepared by
Gwen Cossin

2. Agenda
Product Planning
Branding
Extended Product Features

3. Product Planning
Defined Involves making decisions about those features that are needed to sell a business’s products, services, or ideas

4. Product Mix Includes all the products a company makes or sells
Example FritoLay
Tostitos, CrackerJack, Ruffles, Doritos, Gramma’s cookies

5. Vocabulary Product line (closely related)
Product item (specific model)
Product Depth (# of different products)
Product Width (# of product items within a product line)
(refer to page 549)

6. Developing New Products
Generate ideas
Screen ideas
Develop business proposal
Develop the product
Test the product
Introduce the product (post-pilot)
Evaluate customer acceptance
(refer to page 551)

7. Register Trademarks TM
vs Copywrite

8. Examples Disney’s copyright number is included
Fabric Traditions is registered
The fabric is copyrighted

9. Where is the Trademark?

10. Where is the Trademark?
here

11. Note the can design is trademarked
Where is the Trademark?
here
Note the can design is trademarked

12. Note the can design is trademarked
Where is the Trademark?
But what does
this circled K mean?
Note the can design is trademarked

13. Where is the Trademark? But what does this circled K mean?
Answer: Kosher
and the D means
Kosher Dairy. Really.

14. Real Life example
Established Brands
The Wenger Warranty Cases

15. Patents and Trademarks
“Take a break” Quiz (next slide)
If you want more information prior to taking this quiz on the difference between a trademark, copyright or patent – complete the activities in your work book

22. Developing Existing Products
Line extension
Product modification

23. Deleting/Discontinuing
Obsolescence
Loss of Appeal
Conflict with current company objectives
Replacement by new product
Lack of profit
Conflict with other products

24. Sustaining Product Sales
Product Life Cycle
Decline
Maturity
Growth
Introduction
Turn to page 558 for next slide

25. Cycle Stages Introduction Growth Maturity Decline
Promotion and production
Growth
Sales and Profit
Maturity
Sales slow down due to competition or saturation
Decline
Profits are no longer satisfactory
(refer to page 558)

26. Product Positioning Price/Quality Features/Benefits
In relation to Competition
In relation to other products

27. Ever Wonder… Why the sun lightens our hair, but darkens our skin?
Why women can't put on mascara with their mouth closed?
Why don't you ever see the headline "Psychic Wins Lottery"?

28. Ever Wonder… Why is "abbreviated" such a long word?
Why is it that doctors call what they do "practice"?
Why is it that to stop Windows, you have to click on "Start"?
Why is lemon juice made with artificial flavor, and dishwashing liquid is made with real lemons?

29. Ever Wonder…
Why is the man who invests all your money called a broker?
Why is the time of day with the slowest traffic called rush hour?
Why isn't there mouse-flavored cat food?
When dog food is new and improved tasting, who tests it?

30. Ever Wonder… Why didn't Noah swat those two mosquitoes?
Why do they sterilize the needle for lethal injections?
You know that indestructible black box that is used on airplanes?
Why don't they make the whole plane out of that stuff?

31. Ever Wonder… Why don't sheep shrink when it rains?
Why are they called apartments when they are all stuck together?
If con is the opposite of pro, is Congress the opposite of progress?
If flying is so safe, why do they call the airport the terminal?

32. Branding Corporate brands (Coca-Cola) Product brands (Coke)
Lots of vocabulary!!!! (pg )
Brand name, brand mark, trade name, trade character, trademark, manufacturer brands, private distributor brands, generic brands, brand extensions, brand licensing, mixed-brand strategy, co-branding

33. Packaging/Labeling Functions of Packaging Promoting and Selling
Defining product identity
Providing information
Ensuring safe use
Protecting the product
(refer to page 575)

34. Extended Product Features
Role of Warranties (written, legal)
Focus company on customer needs
Set clear standards for performance
Generate customer feedback
Encourage quality control
Boost promotional efforts
(refer to page 588)

35. Vocabulary Warranties (written, legal) Express Limited Express Implied
Disclaimers

36. Utility?
What kind of utility is labeling?

37. Utility?
What kind of utility is labeling?
INFORMATION UTILITY

38. Extended Product Features
Credit
Customers
Business to Business

39. Vocabulary Installment accounts Revolving accounts
Budget accounts (no finance charge)

40. Ever Wonder… Why, Why, Why
do we press harder on a remote control when we know the batteries are getting dead?

41. Ever Wonder…
Why do banks charge a fee on "insufficient funds" when they know there is not enough money?
Why does someone believe you when you say there are four billion stars, but check when you say the paint is wet?
Why doesn't glue stick to the bottle?

42. Ever Wonder… Why doesn't Tarzan have a beard?
Why does Superman stop bullets with his chest, but ducks when you throw a revolver at him?

43. Ever Wonder… Why do Kamikaze pilots wear helmets?
Whose idea was it to put an "S" in the word "Lisp"?
If people evolved from apes, why are there still apes?

44. Ever Wonder…
Why is it that no matter what color bubble bath you use the bubbles are always white?
Is there ever a day that mattresses are not on sale?
Why do people constantly return to the refrigerator with hopes that something new to eat will have materialized?

45. Ever Wonder…
When we are in the supermarket and someone rams our ankle with a shopping cart then apologizes for doing so, why do we say, "It's all right?" Well, it isn't all right, so why don't we say, "That hurt, you stupid idiot?"
Why is it that whenever you attempt to catch something that's falling off the table you always manage to knock something else over?

46. Ever Wonder…
Why do people keep running over a string a dozen times with their vacuum cleaner, then reach down, pick it up, examine it, then put it down to give the vacuum one more chance?
Why is it that no plastic bag will open from the end on your first try?
How do those dead bugs get into those enclosed light fixtures?

47. Ever Wonder…
In winter why do we try to keep the house as warm as it was in summer when we complained about the heat?
How come you never hear father-in-law jokes?

48. Did you know…
The statistics on sanity are that one out of every four persons is suffering from some sort of mental illness. Think of your three best friends -- if they're okay, then it's you.

50. Pulling it Together
Next slide illustrates how many marketing functions fit together in the real world

52. What is Marketing
According to the American Marketing Association (AMA), marketing is defined as "the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives."