Chapter I
-
| Introduction to Product and Product Management |
| 1.1 |
Introduction |
| 1.2 |
Definition of the Product |
| 1.3 |
What is Product Management? |
| 1.4 |
Skills Required |
| 1.5 |
Product Levels |
| 1.6 |
Product Mix |
| |
|
| 1.7 |
Product Life Cycle (PLC) |
| |
| 1.7.1 |
Introduction |
| 1.7.2 |
Growth |
| 1.7.3 |
Maturity |
| 1.7.4 |
Decline |
|
| 1.8 |
Other PLC Forms |
| 1.9 |
Marketing Strategies |
| |
| 1.9.1 |
Introduction Stage |
| 1.9.2 |
Growth Stage |
| 1.9.3 |
Maturity Stage |
| 1.9.4 |
Decline Stage |
|
| 1.10 |
Market Evolution |
| |
Summing Up |
| |
Self-assessment |
|
|
| |
Chapter II
-
| Product Classification and Product Portfolio Management |
| 2.1 |
Product Classification |
| |
| 2.1.1 |
Durability and Tangibility |
| 2.1.2 |
Consumer Goods Classification |
| 2.1.3 |
Industrial Goods Classification |
|
| 2.2 |
Product Portfolio Management |
| |
| 2.2.1 |
The Boston Consulting Group (BCG) Model |
| 2.2.2 |
The General Electric (GE) Model |
| 2.2.3 |
Adapting Products to Local Conditions |
| 2.2.4 |
Threats from Duplication |
|
| |
Summing Up |
| |
Self-assessment |
|
|
| |
Chapter III
-
| New Product Development Process |
| 3.1 |
Introduction |
| 3.2 |
What is a New Product? |
| 3.3 |
Factors Contributing to New Product Development |
| 3.4 |
New Product Development Process |
| |
| 3.4.1 |
Idea Generation |
| 3.4.2 |
Idea Screening |
| 3.4.3 |
Concept Development and Listing |
| 3.4.4 |
Marketing Strategy Development |
|
| 3.5 |
Business Analysis (Feasibility) |
| 3.6 |
Product Development |
| 3.7 |
Market Testing |
| 3.8 |
Commercialisation |
| 3.9 |
Product Adoption |
| |
Summing Up |
| |
Self-assessment |
|
| |
|
Chapter IV
-
| Product Strategy |
| 4.1 |
Elements of Product Strategy |
| 4.2 |
Setting Objectives |
| 4.3 |
Strategic Alternatives |
| |
| 4.3.1 |
Increasing Sales/ Market Share – Market Development Strategies |
| 4.3.2 |
Market Penetration Strategies |
|
| 4.4 |
Increasing Profitability |
| |
| 4.4.1 |
Decreasing Inputs |
| 4.4.2 |
Increasing Output |
|
| 4.5 |
Positioning: Choice of Customer Targets |
| |
| 4.5.1 |
Positioning: Choice of Competitor Targets |
| 4.5.2 |
Positioning: Core Strategy |
| 4.5.3 |
Cost/Price (Value) Strategy |
| 4.5.4 |
Non-price Strategy |
|
| |
Summing Up |
| |
Self-assessment |
|
| |
|
Chapter V
-
| Managing Brand Equity |
| 5.1 |
Introduction |
| 5.2 |
What is a Brand? |
| 5.3 |
Brand Equity 36 |
| 5.4 |
Branding Challenges |
| 5.5 |
Brand-Sponsor |
| 5.6 |
Brand Building Tools |
| 5.7 |
Brand Strategy Decision |
| 5.8 |
Brand-Asset Management |
| 5.9 |
Brand Auditing and Re-positioning |
| 5.10 |
Packaging and Labelling |
| 5.11 |
Labelling |
| |
Summing Up |
| |
Self-assessment |
|
| |
|
Chapter VI
-
| Marketing Organisations |
| 6.1 |
Introduction |
| 6.2 |
Product Focused Organisations |
| 6.3 |
Market Focused Organisation |
| 6.4 |
Functionally Focused Organisation |
| 6.5 |
Marketing Channels |
| |
| 6.5.1 |
Indirect Channel Management |
|
| 6.6 |
Contractual/Legal Provisions |
| 6.7 |
Self-interest |
| 6.8 |
Human Contact |
| 6.9 |
Power |
| 6.10 |
Channel Arrangements |
| 6.11 |
Monitoring Profitability by Channel |
| 6.12 |
Direct Channels |
| |
Summing Up |
| |
Self-assessment |
|
| |
|
Chapter VII
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| Marketing Planning |
| 7.1 |
What is a Marketing Plan? |
| 7.2 |
The Planning Process |
| 7.3 |
Steps in the Planning Process |
| |
Summing Up |
| |
Self-assessment |
|
| |
|
Chapter VIII
-
| Market and Sales: Estimating Market and Sales Potential and Forecasting |
| 8.1 |
Introduction |
| 8.2 |
Market Potential |
| |
| 8.2.1 |
Uses |
| 8.2.2 |
Information Sources |
|
| 8.3 |
Methods of Estimating Market and Sales Potential |
| 8.4 |
Sales Potential |
| |
|
| 8.5 |
Judgement Based Methods |
| |
| 8.5.1 |
Sales Force Composite |
| 8.5.2 |
Delphi Method |
| 8.5.3 |
Jury of Expert Opinion |
|
| 8.6 |
Customer Based Methods |
| |
| 8.6.1 |
Market Testing |
| 8.6.2 |
Market Surveys |
| 8.6.3 |
Sales Extrapolation Methods |
| 8.6.4 |
Model Based Methods |
|
| 8.7 |
Using Forecasts |
| |
Summing Up |
| |
Self-assessment |
|
| |
|
Chapter IX
-
| Pricing Strategy |
| 9.1 |
Introduction |
| 9.2 |
Setting the Price |
| |
| 9.2.1 |
Selecting the Pricing Objective |
| 9.2.2 |
Determining Demand |
|
| 9.3 |
The Role of Marketing Strategy in Pricing |
| |
| 9.3.1 |
Measuring Perceived Value and Price |
| 9.3.2 |
The Economic Value Concept |
| 9.3.3 |
Using Price Thresholds |
| 9.3.4 |
Using the Perceived Value Concept |
| 9.3.5 |
Psychological Aspects of Price |
| 9.3.6 |
Relationship Between Price and Perceived Quality |
| 9.3.7 |
Odd Ending Prices |
| 9.3.8 |
Competition and Pricing |
| 9.3.9 |
Role of Own Costs |
|
| 9.4 |
Pricing Objectives |
| |
| 9.4.1 |
Return on Sales/ Investment Pricing |
| 9.4.2 |
Pricing for Stability |
| 9.4.3 |
Skimming |
| 9.4.4 |
Competitive Pricing |
| 9.4.5 |
Other Factors Affecting Price |
|
| 9.5 |
Pricing Tactics |
| |
Summing Up |
| |
Self-assessment |
|
| |
|
Chapter X
-
| Advertising and Promotion |
| 10.1 |
Advertising |
| 10.2 |
Developing Effective Communications |
| 10.3 |
Advertising |
| 10.4 |
Sales Promotion |
| 10.5 |
Public Relations and Publicity |
| 10.6 |
Factors in Setting the Communications Mix are |
| 10.7 |
Media Selection |
| |
| 10.7.1 |
Where |
| 10.7.2 |
Contextual Fit |
| 10.7.3 |
Duplication and Wear Out |
| 10.7.4 |
When |
| 10.7.5 |
Other Considerations |
|
| 10.8 |
Evaluating Advertising Effects |
| 10.9 |
Promotions |
| |
| 10.9.1 |
Promotion Objectives |
| 10.9.2 |
Final Customer Promotions |
| 10.9.3 |
Trade Promotions |
| 10.9.4 |
Consumer Promotions (Rank 1 to 11) |
|
| 10.10 |
Promotion Budgeting |
| |
| 10.10.1 |
The Total Advertising and Promotion Budget |
| 10.10.2 |
Allocating Money between Advertising and Promotion |
| 10.10.3 |
Final Customer Promotions |
| 10.10.4 |
Product Based Promotion |
| 10.10.5 |
Price Based Promotions |
| 10.10.6 |
Other Promotions |
| 10.10.7 |
Evaluating Customer Promotions |
|
| |
Summing Up |
| |
Self-assessment |
|
| |
|
Chapter XI
-
| Financial Analysis |
| 11.1 |
Introduction |
| 11.2 |
Sales Analysis |
| 11.3 |
Profitability Analysis |
| |
| 11.3.1 |
Cost Classification |
| 11.3.2 |
Contribution Margin |
|
| 11.4 |
Framework for Control |
| 11.5 |
Capital Budgeting |
| 11.6 |
Average Rate of Return |
| 11.7 |
Payback |
| 11.8 |
Internal Rate of Return (IRR) |
| 11.9 |
Present Value |
| 11.10 |
Economic Value Added |
| |
Summing Up |
| |
Self-assessment |
|
| |
|
Chapter XII
-
| Services as Products |
| 12.1 |
Services |
| 12.2 |
Service Categories |
| 12.3 |
Marketing Strategies for Service Firms |
| |
| 12.3.1 |
Differentiation in Services |
| 12.3.2 |
Managing Service Quality |
| 12.3.3 |
Managing Productivity |
|
| 12.4 |
Post-Sale Service Strategy |
| |
| 12.4.1 |
Major Trends In Product Support Service |
| 12.4.2 |
Managing Product Support Services |
|
| |
Summing Up |
| |
Self-assessment |
|
| |
|
Chapter XIII
-
| Understanding Brands |
| 13.1 |
Introduction |
| |
|
| 13.2 |
Laws of Branding |
| 13.3 |
Myths about Branding |
| 13.4 |
Why Branding? |
| 13.5 |
Role and Significance of Branding |
| |
| 13.5.1 |
Significance of Brands from Consumers’ Point of View |
|
| 13.6 |
Significance of Brands from the Marketer’s Point of View |
| 13.7 |
Brand Ranking |
| 13.8 |
Meaning of a Brand |
| 13.9 |
Brand Challenges |
| |
| 13.9.1 |
Brand or No Brand |
| 13.9.2 |
Brand Sponsor Decision |
| 13.9.3 |
Brand Name Decisions |
| 13.9.4 |
Brand Name Strategies |
| 13.9.5 |
Brand Strategy Decisions |
| 13.9.6 |
Brand Repositioning or No Repositioning |
|
| 13.10 |
Brand Management Decision: L’oreal |
| |
Summing Up |
| |
Self-assessment |
|
| |
|
Chapter XIV
-
| Brand Image, Brand Identity, Brand Valuation |
| 14.1 |
Introduction |
| 14.2 |
Brand Image |
| 14.3 |
Definitions of Brand Image |
| |
| 14.3.1 |
Brand Image and Celebrity |
| 14.3.2 |
Brand Personality and Brand Image |
|
| 14.4 |
Brand Identity |
| 14.5 |
Brand Valuation |
| |
| 14.5.1 |
Brand Loyalty |
| 14.5.2 |
Other Tangibles and Intangibles Valuation |
| 14.5.3 |
Intangible Assets |
|
| 14.6 |
Customer Retention and Brand Marketing |
| 14.7 |
Ten Characteristics of the World’s Strongest Brands |
| |
Summing Up |
| |
Self-assessment |
|
| |
|
Chapter XV
-
| Brand Equity |
| 15.1 |
Introduction |
| 15.2 |
Brand Equity |
| |
| 15.2.1 |
Definition of Brand Equity |
| 15.2.2 |
Cost Based Approach |
| 15.2.3 |
Price Based Approach |
| 15.2.4 |
Customer Based Approach |
|
| 15.3 |
Latest Measures to Compute Brand Equity |
| |
| 15.3.1 |
Direct Measurement Methods |
| 15.3.2 |
Indirect Valuation Methods |
|
| |
Summing Up |
| |
Self-assessment |
|
| |
|
Chapter XVI
-
| Managing Brands Over Time, Brand Positioning and Consumer Behaviour |
| 16.1 |
Introduction |
| 16.2 |
Managing Brands Over Time |
| 16.3 |
| 16.3 |
Brand Life Cycle |
| 16.3 |
Investment, Profitability and Cash Flows and Brand Life Cycle |
| 16.3 |
Brand Portfolio Management |
| 16.3 |
Managing a Brand and Customer Value |
|
| 16.4 |
Brand Positioning and Re-positioning |
| |
| 16.4.1 |
How to Ensure Success in Positioning |
| 16.4.2 |
Positioning Errors |
| 16.4.3 |
Positioning Strategies as Per Philip Kotler |
| 16.4.4 |
Positioning Tourist Destinations |
| 16.4.5 |
Positioning Strategies as per Mr. M.V. Kulkarni, Marketing Consultant |
| 16.4.6 |
Positioning Strategies for Insurance Industry |
| 16.4.7 |
Can Positioning Work Always? |
|
| 16.5 |
Brand Re-positioning |
| 16.6 |
Brand Marketing and Consumer Behaviour |
| |
| 16.6.1 |
Brand Celebrity and Consumer Behaviour |
| 16.6.2 |
Brand Marketing and Consumer Buying Behaviour |
| 16.6.3 |
Difference Between Trademark, Logo, Symbol and Mascot |
|
| 16.7 |
Brand Mascot |
| |
Summing Up |
| |
Self-assessment |
|
| |
|
| |
| |