1. Marketing Management Session 7
PRODUCT MANAGEMENT
Marketing Management
Session 7

2. SESSION OUTLINE Cineplex Odeon presentations
Characteristics of services vs. goods
The product life-cycle
New product introduction
Review for mid-term exam

3. INTANGIBLE GOODS Simultaneous consumption and production
Wide variations in demand over short periods of time
Many different types of services:
continuous services (electricity, telephone)
produced by a person (banking)
produced to a person (doctor, hairdresser)

4. PRODUCT LIFE CYCLE
See Exhibit 10-1, page 336

5. PRODUCT LIFE CYCLE
Based on diffusion of innovations (Rogers, 1972, U of Ohio)
Five consumer segments:
Innovators
Early adopters
Early majority
Late adopters
Laggards

6. USEFULNESS? Guideline for marketing managers Egg and chicken problem
Industry sales vs. individual products
Universality?

7. NEW PRODUCT INTRODUCTION
« Oxygen » of the company
Technological development vs. consumer driven introductions
New product development process
Introduction timing:
First-mover advantage
Follower advantage

8. REVIEW FOR MID-TERM

9. CHAPTERS 1, 2, AND 3 Definitions of marketing
Marketing concept vs. production and sales orientation
Universality of marketing
Mass marketing vs. target marketing
Four Ps
Elements of a marketing plan
Market growth strategies

10. SEGMENTATION Homogeneous sub-market Criteria for good segmentation:
homogeneous within
heterogeneous between
operational
substantial
stable over time

11. POSITIONING
Perceptions of consumers’ competitive brands in a product-market
perceptual maps
Important part of marketing strategy
Starting point for designing marketing plan

12. CONSUMER BEHAVIOUR Model of buyer behaviour
social variables
psychological variables
external variables
marketing strategy
environment
Model of decision-making process
steps
order of steps

13. MARKETING RESEARCH Primary vs. secondary data Research types
exploratory
descriptive
causal
Data collection methods
Technical aspects
sampling
questionnaire design

14. PRODUCT MANAGEMENT Theoretical aspects: Managerial aspects
product definition
product classification
product life-cycle
Managerial aspects
elements of the product decision
brand management

15. OFFICE HOURS Monday, October 20: all day
Tuesday, October 21: p.m. only
Wednesday, October 22: p.m. only
Thursday, October 23: a.m.
Phone or questions