1. Nagesh Pai, Marketing Strategy PT MBA - Marketing– III YR Lecture 4

2. Nagesh Pai, Product Based Marketing Strategies Differentiation through Product Design / offering Innovation Understanding how a Product centric approach can contribute to organization goals Need for evolution of Products Product Life Cycle – for Product strategy

3. Nagesh Pai, 5 levels of product – Philip Kotler

4. Nagesh Pai, Imagine – Maslows pyramid for a product?

5. Nagesh Pai, New Product Development - Process Coordinate, stimulate ideas Are the ideas matching with Co. Factors Develop various alternative concepts Positioning and 4 Ps Market and Cost analysis Engineering, tests, branding, packaging Limited version tests Go to market!

6. Nagesh Pai, PLC strategy – Product considerations Product Strategy Introduction – Offer basic product Growth – Product extensions, service, warranty etc Maturity - Diversify Brands and Models Decline - Phase out older variants and try to bring in new ones Marketing Strategy Introduction – Create awareness and trials Growth – Max. Mkt Share Maturity – Maximize profit / defend share Decline – reduce expenses and milk the brand

7. Nagesh Pai, Product Strategies Product Positioning Product Re-positioning Product Overlap Product Scope Product Design Product Elimination

8. Nagesh Pai, Product Strategies Product Positioning Product Re-positioning Product Overlap Product Scope Product Design Product Elimination Occupying a unique space in customers mind so that it stands apart from the competition

9. Nagesh Pai, Product Strategies Product Positioning Product Re-positioning Product Overlap Product Scope Product Design Product Elimination Review of current position depending on competition forces and changes in customer profile.

10. Nagesh Pai, Product Strategies Product Positioning Product Re-positioning Product Overlap Product Scope Product Design Product Elimination Competition within brands held by the same organization.

11. Nagesh Pai, Product Strategies Product Positioning Product Re-positioning Product Overlap Product Scope Product Design Product Elimination Product Mix of a company.. Evolution from single product to multi-product

12. Nagesh Pai, Product Strategies Product Positioning Product Re-positioning Product Overlap Product Scope Product Design Product Elimination Standard and various levels of Customized Variants of the product.

13. Nagesh Pai, Product Strategies Product Positioning Product Re-positioning Product Overlap Product Scope Product Design Product Elimination Pruning of the company’s product portfolio