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solomon09_basic - CHAPTER 9 Managing the Product M A R K E...

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Unformatted text preview: CHAPTER 9 Managing the Product M A R K E T I N G Real People, Real Choices 9-2 Chapter Objectives • Explain the different product objectives and strategies a firm may choose • Explain how firms manage products throughout the product life cycle • Discuss how branding creates product identity and describe different types of branding strategies 9-3 Chapter Objectives • Explain the roles packaging and labeling play in developing effective product strategies • Describe how organizations are structured for new and existing product management 9-4 Steps in Managing Products • Develop product objectives • Individual products • Product lines • Design a product strategy • Make tactical product decisions • Branding • Packaging/labeling 9-5 Criteria for Effective Objectives • Measurable • Clear • Unambiguous • Time-framed • Consistent with long-term health of organization 9-6 Sample Product Objectives • In the upcoming fiscal year, modify the product’s fat content to satisfy consumers’ health concerns • Introduce three items to the product line to take advantage of increased consumer interest in Mexican foods • During the coming fiscal year, improve chicken entrees such that consumers rate them as better tasting than the competition 9-7...
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solomon09_basic - CHAPTER 9 Managing the Product M A R K E...

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