1. Products, Services and Brand Management

2. What do we mean by the “Product”? From the consumer standpoint… From the organizational standpoint… From the business relationship standpoint…

3. Consider how a product classification scheme can impact product management Nondurable goods – those we use quickly (short lifespan) – usually less expensive Durable goods – those that last for a relatively lengthy time – often more expensive and purchased much less often Services – intangible, inconsistent, inseparable, and inventory

4. New Product Development Decisions – Key Points for Management 1. Overall Product strategy 2. Idea generation 3. Idea Screening and Business Analysis 4. Test Marketing

5. Managing Existing Product Strategies What should we consider? Where is the biggest impact on our product decisions? What do we do when competition copies our product? Or worse, has a “better” product? What do we do with apparent product failures?

6. The Role of The Product Life Cycle: Magic or Myth? Development IntroductionGrowth Maturity Decline Sales

7. Managing Existing Products Modify the product Modify the market Reposition the product Trading up (product improvements) Trading down (removing features)

8. The “Unproduct” For a less tangible product (A service) it is more difficult to measure quality and satisfaction. What do we mean by “Service Quality”? How do we measure it?

9. Measuring Service Quality Different views argue for and against the need to measure “The Gap” between service expectations and service performance

10. Managing the Service Once we can assess how we’re doing, how do we manage it? How do we make service improvements? How do we handle service inventory? How do we handle service pricing?

11. Managing Brands What’s the difference between brand management and product management? Understanding Brand Equity What is it? Why is it important? How do we measure it?

12. Managing Brands How does brand strategy impact marketing decisions? Brand Strategies Multi-product (different products - same name) Multi-branding (generally same products - different name) Private branding (store or retailer brand names) Generic branding (“no” brand name)