Product/Service Management 3.01-A. Intro Who is responsible for the last product you bought? Did you know….. -It took over 3 years to develop Google’s.
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Slide 1
Product/Service Management 3.01-A
Slide 2
Intro Who is responsible for the last product you bought? Did
you know.. -It took over 3 years to develop Googles search engine
-It took over 4 years to develop the famous chicken sandwich at
Chick-fil-a
Slide 3
Product/Service Management Product/Service Management is a
marketing function that involves obtaining, developing,
maintaining, and improving a product.
Slide 4
Product/Service Management Factors affecting Product/Service
Management: 1. Customer Needs and Wants 2. Company Goals and
Strategies 3. Cost and Available Resources 4. Competition 5.
Product Itself 6. Government Regulation 7. Stages in Life Cycle 8.
Business and Economic Trends
Slide 5
Product/Service Management What are Benefits to Product/Service
Management? -Offer products consumers want and companys profits
increase -When developing the right products, a company can gain
new customers -When products are well managed there is less of a
chance for failure
Slide 6
Product/Service Management What role does Product/Service
Management play in Marketing? 1.Affects positioning of product
-what image do you want to create about the product in the minds of
consumers? 2. Improves product success 3. Gives product an image
-what impressions do you have of certain brands
Slide 7
Product/Service Management Who is responsible for managing
product/service management? -Several employees of a company,
certain departments, 1 employee or just the boss. Normally depends
on size of company. 3 Main Phases of Product/Service Management 1.
Developing New Products 2. Monitoring Existing Products - Sales,
Profit, Market Share 3. Eliminate Weak Products
Slide 8
Sources Marketing Essentials MBA-LAPS-PM-017-SP
Slide 9
Product/Service Management (PSM) Unit 3.01 Gum for THEM
Students worked in groups of three of the same sex. They had to
create a brand new pack of gum for the opposite sex. Create an in
depth 10 question survey to better determine what type or gum will
best interest the opposite sex. Based on their results create a
pack of gum and make a mock up. Its flavor, its packaging Position
the product What is its image? The MOST appealing gum will get a
surprise on Friday!
Slide 10
3.01-B Product Life Cycles
Slide 11
Intro What is a product that has been around for as long as you
can remember? How has it changed over the years?
Slide 12
Product Life Cycle Product Life Cycle represents the stages
that a product goes through during its life. There are 4 Stages of
Life Cycle: 1. Introduction 2. Growth 3. Maturity 4. Decline
Slide 13
Product Life Cycle What are the goals of the Introduction
Stage? To increase product awareness Get the customers attention
thru promotion Lots of special promotion During Growth Stage:
Customers are aware of product, sales increase Companies focus on
customer satisfaction Competition starts from other companies
Slide 14
Product Life Cycle What happens during Maturity Stage? The
products sales level off. More money is spent on competition during
this stage. Discussion: Have class to choose a mature product
Discuss how company is managing: 1. Competition 2. Advertising 3.
Distribution Is it only sold at 1 place 4. Other Strategies they
have put in place
Slide 15
Product Life Cycle During the Decline Stage: Sales start to
decline. A company must decide to alter the product, discount, or
discontinue product.
Slide 16
Product/Service Management (PSM) Unit 3.01 Gum for THEM
Students worked in groups of three of the same sex. They had to
create a brand new pack of gum for the opposite sex. Create an in
depth 10 question survey to better determine what type or gum will
best interest the opposite sex. Based on their results create a
pack of gum and make a mock up. Create its flavor, its packaging
Position the product / image Whats the predicted life cycle? The
MOST appealing gum will get CANDY on Friday!
Slide 17
3.01-C Technology in Product/Service Management
Slide 18
Intro Describe the use of technology in Product/Service
Management
Slide 19
Technology in Product/Service Management Applications of
Technology in Marketing: 1. Point-of-Sale Systems 2. Interactive
Touch Screen Computer 3. Interactive TV 4. Customer Relationship
Management 5. Enterprise Resource Planning Systems 6. Internet
Slide 20
Technology in Product/Service Management Point of Sale Scanners
at cash registers, touch screens, hand-held devices at checkout
Example: Kiosks Interactive Touch Screen Computers Interactive TV
Where TV is like a computer- order movies, click on Ragu for
recipes, order food
Slide 21
Technology in Product/Service Management CRM- Customer
Relationship Management A customer can track an order. The CRM or
business can track customer satisfaction ERP- Enterprise Resource
Planning Software that allows all parts of the companys management
to be integrated Internet Wi-Fi Search Engines E-mail
E-commerce
Slide 22
Technology in Product/Service Management Interactive TV helps
marketers to develop a database of their uses This database
analysis helps see the customers reaction to products They are
testing Interactive TV for promotion
Slide 23
Product/Service Management (PSM) Unit 3.01 Gum for THEM
Students worked in groups of three of the same sex. They had to
create a brand new pack of gum for the opposite sex. Create an in
depth 10 question survey to better determine what type or gum will
best interest the opposite sex. Based on their results create a
pack of gum and make a mock up. Create its flavor, its packaging
Position the product / image Whats the predicted life cycle?
Incorporate technology in PSM? The MOST appealing gum will get
CANDY on Friday!
Slide 24
3.01-D Ethical Considerations in Product Packaging
Slide 25
Business Ethics in Product/Service Management
Slide 26
Ethical Considerations in Product Packaging Why do you think
companies package and label their products? Answer: Create a good
impression Help sell product Communicate benefits Concerns for
Product Packaging? Product Safety- Glass now plastic
Tamper-resistant packages Airtight containers for foods Wasteful
packaging Switching for spray cans and pumps
Slide 27
Ethical Considerations in Product Packaging Product labeling
must inform customers about a products contents and give directions
for use. 1. Must have name of manufactures 2. Quantity of contents
3. Nutritional info 4. Health claims are the same on all products;
light, fat free, etc. 5. Warnings on products like alcohol and
cigarettes 6. How to care for clothes
Slide 28
Ethical Considerations in Product Packaging In order for a
product to say recycled it must show proof that it is retrieved a
certain amount of scraps. For a food to be organic it must meet
certain standards
Slide 29
Ethical Considerations in Product Packaging What happens when a
company fails to inform customers about product risks? 1.Company
can get sued 2.Harm to customer What is Planned Obsolescence?
Making products that are known to not last long, or change, so that
people will need to replace them Example: Cell phones are always
coming out with newer functions and it makes consumers want to
purchase the new and improved cell phone
Slide 30
Product/Service Management (PSM) Unit 3.01 Gum for THEM
Students worked in groups of three of the same sex. They had to
create a brand new pack of gum for the opposite sex. Create an in
depth 10 question survey to better determine what type or gum will
best interest the opposite sex. Based on their results create a
pack of gum and make a mock up. Create its flavor, its packaging
Position the product / image Whats the predicted life cycle?
Incorporate technology in PSM? The MOST appealing gum will get
CANDY on Friday!