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Product Management Summary–1 Summary of Product Management Professor Carl Mela BA 460 Product Management Fuqua School of Business Brand Management System.

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Presentation on theme: "Product Management Summary–1 Summary of Product Management Professor Carl Mela BA 460 Product Management Fuqua School of Business Brand Management System."— Presentation transcript:

1 Product Management Summary–1 Summary of Product Management Professor Carl Mela BA 460 Product Management Fuqua School of Business Brand Management System On Building A Brand Managing Across Brands

2 Product Management Summary–2 Agenda PharmaSim Wrap-up –Insights from the marketing plan –Insights from the game Course Summary Latest Research Project

3 Product Management Summary–3 PharmaSim Wrap-up Marketing Planning Lessons Strategies and Performance by Group

4 Product Management Summary–4 Marketing Planning Lessons Situation Analysis –Length Is it germane to strategy and tactics –Information ->Inferences ->Implications If no implications, than consider omitting –The plan is also a request for resources Affects tone

5 Product Management Summary–5 Marketing Planning Lessons Situation Analysis –Internal consistency If it is in the situation, is it in the summary? The objectives? The strategy? –Assumptions Includes growth, competitive reactions, etc. –Objectives - are they attainable? Bonuses and merit raises Forecasts

6 Product Management Summary–6 Marketing Planning Lessons Competitor and Customer Analyses –What do the customers want? Table of benefits by segment or perceptual map –Who provides it? Table of benefits by competitor or perceptual map –Are there positioning gaps? –Who will rush to fill them and what are the threats?

7 Product Management Summary–7 Marketing Planning Lessons Strategy and Tactics –Link objectives, strategy and tactics –Specificity: How many sales people? What ad budget? What allocation of trade promotions? Pricing Analysis –All teams adopt competitive positioning, but is this profit maximizing?

8 Product Management Summary–8 Marketing Planning Lessons Promotion Analysis –Caution in reallocating marketing support from core product (e.g., Coke to Diet Coke) Advertising Analysis –Objective of primary demand is often not commensurate with a line extension or a lower share brand (increases competitor’s sales)

9 Product Management Summary–9 Marketing Planning Lessons Product Design Analysis –Articulate rationale –Competitors and customers –Promotional plan should vary by product

10 Product Management Summary–10 Game Results Groups maximized share and sales as opposed to net income - marketing bias?

11 Product Management Summary–11 Game Results: Team Strategies

12 Product Management Summary–12 Game Results Correlation between teams’ strategies and teams’ results

13 Product Management Summary–13 PharmaSim Wrap-up Experience with marketing planning –Number of lessons with respect to writing a plan Goal-setting experience –How did you do vs. plan Experience managing a brand –Most teams did well –Correlates of success

14 Product Management Summary–14 Course Overview Objective - Theoretical and practical grounding in brand management Structure –Brand Management System –On Building A Brand –Managing Across Brands

15 Product Management Summary–15 Structure Part I - The Brand Management System –Brands and Brand Management: Class 1 The Nature of a Brand Brand/Product Management An Application to the Pepsi Syringe Scare. –Sophisticated organizational structure –Integrated plan –Facilitated information flows to and from markets –Result: brand not affected

16 Product Management Summary–16 Structure Part I - The Brand Management System –Organizational Design: Class 2 P&G Case –The brand management system gives brands attention –In mature categories, be wary of product proliferation Live commentary from P&G –Whitewater packaging –Challenges of implementing decisions (approvals and interactions) –P&G continually adapts its structure

17 Product Management Summary–17 Structure Part II - Building Brands –Pricing: Class 3 Kodak –Strategic choice between share, margins, and equity –Innovation is necessary to increase all three –Price points and flanker (fighter) brands Pricing –Price-quality inferences –EDLP –The effect of pricing on equity (JMG 1999) Red Hat’s Director of Marketing –Product v. brand –Flanker brands

18 Product Management Summary–18 Structure Part II - Building Brands –Distribution: Class 4 Goodyear case and video –Channel cares about price and store equity (not brand) –Manufacturer cares about brand equity (not store) –Intensive v. exclusive distribution and equity –Push v. pull and equity –Channel is front line to customer and has large impact on equity –Video: dealing with the media Brand Elements –Name, logo, characters, slogans, and jingles –Memorable, meaningful, protectable, transferable, adaptable

19 Product Management Summary–19 Structure Part II - Building Brands (Cont.) –Private Label and Promotion: Class 5 Private Label –Change quality, change price, add low quality brand, or do nothing (Hoch) –Recall, these are Kodak’s options Sales Promotion –Event marketing (raise awareness and leverage secondary associations, but weak payoffs and unforseen consequences) –Sales promotion (trade and consumer) »Short term gains, long term costs Craig Stacey (VP from IRI) discusses the use of scanner data information to build brands.

20 Product Management Summary–20 Structure Part II - Building Brands (Cont.) –Promotion: Class 6 Marketing in the NHL –Promotion of event rather than game –Grass roots marketing Hurricanes Director of Communications, Ken Lehner –Live survey on marketing the NHL and building the Hurricanes brand –Promotional design

21 Product Management Summary–21 Structure Part II - Building Brands (Cont.) –Advertising: Class 7 Advertising –Integrated communications (awareness and brand associations) Intel Inside Interactive CDROM. –Process of developing advertising strategy Live Commentary and Discussion with Michael J. Ganey, Director, Howard, Merrell & Partners,Inc. –How to use an agency –Effect of advertising on brands

22 Product Management Summary–22 Structure Part III - Across Brands and Markets –The Marketing Plan: Class 8 The Marketing Plan –Plans serve to coordinate and formalize research and decisions –Planning process –Planning format Tom O’Guinn, Visiting Professor discusses Brand Communities. –Consumers are now empowered by the internet and increasingly difficult to manage

23 Product Management Summary–23 Structure Part III - Across Brands and Markets –Product Extensions: Class 9 Product Extensions –Tremendous efficiencies –Consumer confusion –Issues of fit The Black and Decker Case and Video –Demonstrates effect of extensions on parent brand –Strategies to mitigate negative brand associations »Rebrand »Inimitable points of differentiation (service, sales relationships)

24 Product Management Summary–24 Structure Part III - Across Brands and Markets –Global Branding: Class 10 The Heineken Case –Messages can transcend culture »Think global (message) »Act local (design) –Local v. global control Global branding –Efficiency v. customization The Fuqua MBA with Jim Gray, Associate Dean, Fuqua.

25 Product Management Summary–25 Structure Part III - Across Brands and Markets –Branding on the Internet: Class 11 Deborah Kania (Lens Express and author of branding.com) and Beth Yakel (Sciquest) –Brands are increasingly important on the web –Traditional brands have greater awareness but carry traditional “baggage.” The opposite is true for e-brands –Branding on the web implies personalization and community

26 Product Management Summary–26 Structure Part III - Across Brands and Markets –Wrap-up and PharmaSim Summary: Class 12 You are here!!

27 Product Management Summary–27 Course On a Page Part 1 - Brand Management System –Brands and Organizational Design Part 2 - On Building A Brand –Price to Image –Distribution Presents Image –Christen and Nathaniel Arrive! –Promotion to Develop Image –Product is Image (Private Label) Part 3 - Managing Across Brands & Regions –Marketing Plan –Product Lines Interact –Global v. Local Associations

28 Product Management Summary–28 Good Luck! Stay in touch –Guest speaking –Examples –Feedback regarding preparation –Vexing issues faced this summer or next year Thank you for making this a great and enjoyable course!!


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