1. 3.01-B Product Life Cycles

2. Intro  What is a product that has been around for as long as you can remember?  How has it changed over the years?

3. Product Life Cycle  Product Life Cycle represents the stages that a product goes through during its life.  There are 4 Stages of Life Cycle :  Introduction  Growth  Maturity  Decline

4. Product Life Cycle  What are the goals of the Introduction Stage?  To increase product awareness  Get the customer’s attention through promotion  Special promotions  During the Growth Stage:  Customers are aware of product, sales increase  Companies focus on customer satisfaction  Competition starts from other companies

5. Product Life Cycle  What happens during Maturity Stage?  The product’s sales level off. More money is spent on competition during this stage.  During the Decline Stage:  Sales start to decline. A company must decide to alter the product, discount, or discontinue product.

6. Product/Service Management (PSM) Unit 3.01 “Gum for THEM”  Students worked in groups of three of the same sex. They had to create a brand new pack of gum for the opposite sex.  Create an in depth 10 question survey to better determine what type or gum will best interest the opposite sex.  Based on their results create a pack of gum and make a mock up.  Create it’s flavor, its packaging  Position the product / image  What’s the predicted life cycle? The MOST appealing gum will get CANDY on Friday!

7. 3.01-C Technology in Product/Service Management

8.  Applications of Technology in Marketing:  1. Point-of-Sale Systems  Interactive Touch Screen Computers  Interactive TV  Customer Relationship Management  Enterprise Resource Planning Systems  Internet

9. Technology in Product/Service Management  Point of Sale  Scanners at cash registers, touch screens, hand-held devices at checkout  Interactive Touch Screen Computers  Kiosks  Interactive TV  When TV is like a computer – order movies, click for recipes, order food

10. Technology in Product/Service Management  CRM- Customer Relationship Management  A customer can track an order. The CRM or business can track customer satisfaction  ERP – Enterprise Resource Planning  Software that allows all parts of the company’s management to be integrated  Internet  WiFi  Search Engines  E-mail  E-commerce

11. Technology in Product/Service Management  Interactive TV helps marketers to develop a database of their uses  This data base analysis helps see the customer’s reaction to products  They are testing interactive TV for promotion

12. Product/Service Management (PSM) Unit 3.01 “Gum for THEM”  Students worked in groups of three of the same sex. They had to create a brand new pack of gum for the opposite sex.  Create an in depth 10 question survey to better determine what type or gum will best interest the opposite sex.  Based on their results create a pack of gum and make a mock up.  Create it’s flavor, its packaging  Position the product / image  What’s the predicted life cycle?  Incorporate technology in PSM? The MOST appealing gum will get CANDY on Friday!