Product Management

Product Management

Product related decisions- branding and packaging

BASIC CONCEPT: The Product Types of Product

complex tangible convenience tangibleservice

The retailer’s product offer (usually): physical goods, with services

Different types of products require specific product management approaches

What Does A Product Manager Actually Do?

What Is A Product Manager?Product Management is a strategic and business-oriented

role, focused on delivering solutions to market needs.

Product Managers...

‣ Identify profitable opportunities that meet market needs‣ Launch products into the market

‣ Oversee products already in the market‣ Wind down products that longer meet market needs

What Does A Product Manager Do?

No, seriously. What does a Product Manager actually do?

Understands The Market‣Communicates with customers & prospective customers

‣Conducts usability tests

‣Surveys

‣Keeps an ongoing record of compliments/complaints

‣Actually uses the product regularly

Develops Market-Based Product Strategies

‣Research, research, research

‣Is aware of, and understands, the competition...

‣... but is not just slavishly copying their feature sets

‣Don’t feed The Blob by creating bloatware!

Creates Relevant, Usable Documentation‣BRD: Business Requirements Document - Identifies business problems,

solutions‣MRD: Market Requirements Document - Functional, non-functional requirements‣PRD: Product Requirements Document - Feature details, user interface, flow‣FSD: Functional Specifications Document - Engineers, screen by screen

Brings Products Into (And Out Of) The Market

‣Your job is to meet market demands and actually make it to market

‣But understand the importance of not falling behind the curve

‣Timing is crucial

Image source: http://www.ioffer.com/selling/daylily120

‣Realize that pioneering doesn’t always pay…

Develops Customer Relationships

‣Face to face

‣Email

‣Blog

‣Telephone

‣Social networks

‣Clear, not jargon

‣Concise, not convoluted

‣Confident, not weasel words

‣Courteous

‣Completely understands the issue

The Means... The 5-C Method...

Bridges Every Department That Touches Product

‣Sales

‣Marketing Communications

‣Engineering

‣Design

‣Customer Service‣Operations

The Product Manager’s Role: To Avoid This

What Else Does A Product Manager Do?

‣Manages the brand

‣Generates sales leads

‣Responsible for the profit & loss of the product

‣Brings new products to life... maximizes profits in existing products... winds down unsuccessful products

‣Champions the product, internally and externally

In 20 Words Or Less?Product Managers analyze market data to make intelligent decisions, chart the course, and captain the product toward its intended destination.

I. Branding Decisions

A. Branding Terms Brand - a name, phrase, symbol or design, or some

combination of these used to identify a product and set it apart from its competition.

Trademark – a brand that has been registered with the Patent and Trademark Office and is given legal protection, preventing others from using it.

Brand Equity – the added value a given brand name gives to a product beyond the functional benefits provided.

Psychological benefits Social benefits Time benefits

B. Selecting a Good Brand Name Suggests product’s benefits or uses Distinctive, memorable, and positive Simple, easy to pronounce Fits the company or product image Has no legal or regulatory restrictions

Brand Name Activity

Come up with a brand name for a frozen dinner that features country cooking and man-sized helpings. The meal contains either rajma chawal, aaloo parathas, or butter chicken. Each meal contains two vegetables, such as kadai paneer, fried sweet potato, cauliflower or bhindi.

C. Branding name Blanket Family branding (Heinz, Campbell

soup, knor soups, Brown &Polson)

Individual branding ( Maggi, kit kat, Pulsar) Separate Family names (Sears-Kenmore

appliances, Craftsman for tools)

Corporate name plus individual names (Kellogg’s Raisin Bran, Kellogg’s Corn Flakes)

Brand Strategy

Line extension - new sizes and flavors under the same brand name (Danon, Diet Coke)

Brand extension – extending brand name to new products( Pierre Cardin Wine, Nike wear, Reliance fresh food)

Multi Brands- new brand names in same product category- Electrolux- Kelvinator, White, Gibson, Zanussi

New Brands- New name for new category- Taj, Indica, Fasttrack, Titan

Co Branding- Volvo uses Michelin tires, Mc Donalds uses Aquaguard

Brand Strategy

II. Packaging and LabelingPackaging – the design and production of the

container or wrapper for a product.

Labeling – identifies the product or brand, who made it, where and when it was made, how it is to be used, and contents.

Benefits of Packaging and Labeling containment, storage, and

convenience consumer protection brand recognition information

VI. Product Warranty

Warranties indicate the liability of the manufacturer for product deficiencies and are an important element of product and brand management.

Affect a consumer’s product evaluation

Case Study

BRANDING SOLUTIONS

Why StyleKandy.com?

StyleKandy.com is India’s premier e-zine in the domain of fashion and lifestyle. The website www.stylekandy.com provides readers with editorial content, news, and views that are an intrinsic part of their social calendar.

Features :

The homepage is updated with 4-6 stories each day. A daily e-newsletter goes out by 10 in the morning every day except for Sunday.

Profile

A fashion and lifestyle portal launched in the year 2006. A gap filler between those who set trends and those who

actually follow them. Stylekandy’s association with high-end events like the

Wills lifestyle India Fashion Week as web cast partner, on-site print partner with Lakme Fashion Week and Delhi Fashion Week.

Associated with many premium brands like Jimmi Choo, Moschino, Marc Jacobs, Body Shop, Nokia, LG, UB Group, Samsung, Grey Goose, Chivas Regal, Bernodricara, Blenders Pride, Gucci, Lecoanet Hemant, Sisley, Lee, Guess and Marccain are some of the brand who have been associated with Stylekandy.com.

Association with Delhi Fashion Week.

On-site print partner for the 2nd consecutive season to cover the show.

The only publication to cover the entire show from fitting to runway review till the after show party, on daily basis.

Every day around 10,000 complimentary copies were distributed.

Association with Lakme Fashion Week.

On-site print partner for the 7th consecutive season to cover the show.

The stories and reviews of stylekandy are eagerly awaited by designers, buyers and the audience. Making each issue a hit among the people.

It wont be wrong to mark it as the first one to tell the people about the fashion world.

READERSHIP DETAILS

Our subscribers fall in A+ category, i.e. the premium and platinum segment.

It consists of designers, models, industrialists, polo players, golfers, corporate, hospitality & not to be missed bollywood

Falling in the age group of 21–49 years. With ample disposable income and a sense of

style.

Data Base Break-up

Database Consists of

Entire fashion fraternity, Polo players, Golfers  and Sports person, Hospitality Industry, Corporate, Foreign Tourism Boards, Embassies, Bollywood and Socialites.

City wise Data Break–up Delhi – 40,000Mumbai – 60,000Pune – 2,000Goa – 6,000Bangalore – 11,000Hyderabad – 3,000Chennai – 2,000Kolkatta – 4,000

Home Page: Our source of traffic is partly from the

newsletter and the rest go to the website directly.

To provide you estimation, close to 40 per cent of the traffic comes from the newsletter and the rest come to the website directly through the homepage.

Your banner will remain on our website for a complete duration of the campaign and to make the campaign a bigger success, we will place your banners on different positions of our site as a part of value add. You could also change your banners each week.

Section Branding: Apart from the daily

stories, various sections are the backbone of StyleKandy.

The inside story pages is again one of the premium properties of StyleKandy; whether a subscriber comes from the homepage or the newsletter, he/she is directed to these pages. Hence, visibility is optimum.

Daily Newsletter :

Direct mail is an integral part of our circulation strategy. Stylekandy web-site is updated daily, and a newsletter is fired each morning [barring Sundays] to a database of the crème-de-la-crème i.e. the premium and platinum segment.

Our subscriber base is of 125,000 people and growing. Hence, the mileage and leverage an advertiser gets through the daily newsletter, is unparalleled.

Digital E-mailers or Flyers: E-mailer or Flyers are the digital

form of Advertising. Here your creative along with the

text , is incorporated in a mail and send as a personalized mail to our subscribers data base.

The sender name and the subject line of the mailer is being provided by you.

Our subscribers data-base consists of 125,000 people.

Pop – ups :

Pop-ups are additional windows containing your advertisement creative.

They can have a link to the url, specified by the client.

Thus giving you the optimum results through us.

Mouse Trails

These are Pointers trails, your company logo or brand name or a small message, will stick to the mouse pointer and where ever the mouse will go that logo or message will move along with it.

These trails are active with the movement of your computer mouse.

Interestitial:

Your banner will be placed in the bottom of the computer screen.

When you will scroll the site, down or up the banner will remain at its place. The site will go behind the banner or will come out of it.

Thus, giving you the maximum visibility.