MM1 - Lecture 16 - Oct25 2011 - OnCourse

MM1 - Lecture 16 - Oct25 2011 - OnCourse - Branding...

Info iconThis preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
Branding  Marketing Management 1 October 25, 2011 
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Objectives for today’s class… § Finish discussion of PLC. § Understand Brands and Brand Equity and why they are important to marketers § Examine different Branding Strategies available to firms § Evaluate the branding considerations involved with new product marketing
Background image of page 2
Product Life Cycle Stages
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Product Life-Cycle Strategies Characteristics Introduction Growth Maturity Decline Sales Low Rapidly rising Peak Declining Costs High per customer Average per customer Low per customer Low per customer Profits Negative Rising High Declining Customers Innovators Early adopters Middle majority Laggards Competitors Few Growing number Stable number beginning to decline Declining number Marketing Objectives Create product awareness and trial Maximize market share Maximize profit while defending market share Reduce expenditures and milk the brand
Background image of page 4
Product Life-Cycle Strategies Strategies Introduction Growth Maturity Decline Product Offer basic product Offer product extensions, service, warranty Diversify brand and models Phase out weak items Price Use cost-plus Price to penetrate market Price to match or best competitors Cut price Distribution Build selective Build intensive Build more intensive Go selective, phase out unprofitable outlets Advertising Build product awareness among early adopters and dealers Build awareness and interest in the mass market Stress brand differences and benefits Reduce to level needed
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 11/23/2011 for the course MGCR 2049 taught by Professor Edwardbierbrier during the Fall '10 term at McGill.

Page1 / 29

MM1 - Lecture 16 - Oct25 2011 - OnCourse - Branding...

This preview shows document pages 1 - 6. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online