1. Monday, September 10th Warm up – New Unit – Product Service Management
Review Thursday and Friday’s work
Questions
New Unit – Product Service Management
Slide Show/Notes
Activity
Wednesday – Quiz on Objs 1.01 and 1.02

2. Product/Service Management

3. Intro Who is responsible for the last product you bought?
Did you know…..
-It took over 3 years to develop Google’s search engine
-It took over 4 years to develop the famous chicken sandwich at Chick-fil-a

4. Product/Service Management
Product/Service Management is a marketing function that involves obtaining, developing, maintaining, and improving a product.

5. Product/Service Management
Factors affecting Product/Service Management:
1. Customer Needs and Wants
2. Company Goals and Strategies
3. Cost and Available Resources
4. Competition
5. Product Itself
6. Government Regulation
7. Stages in Life Cycle
8. Business and Economic Trends

6. Product/Service Management
What are Benefits to Product/Service Management?
-Offer products consumers want and
company’s profits increase
-When developing the right products, a
company can gain new customers
-When products are well managed there is
less of a chance for failure

7. Product/Service Management
What role does Product/Service Management play in Marketing?
Affects positioning of product
-what image do you want to create about the product in
the minds of consumers?
2. Improves product success
3. Gives product an image
-what impressions do you have of certain brands

8. Product/Service Management
Who is responsible for managing product/service management?
-Several employees of a company, certain departments, 1 employee or just the boss. Normally depends on size of company.
3 Main Phases of Product/Service
Management
1. Developing New Products
2. Monitoring Existing Products
- Sales, Profit, Market Share
3. Eliminate Weak Products

9. Activity
Consumers are demanding more eco friendly products that are safe for the environment. Choose a company that interests you, describe one of their products then suggest ways that it could be changed to be eco friendly.

10. Sources
Marketing Essentials
MBA-LAPS-PM-017-SP