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Introduction to Product management

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Introduction to Product management

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25 Questions

1. Describe the four branding strategies available for growing a brand

(gain market share) - Price Low Initially - Elastic Demand - Offering Not Unique - Competition Entering Quickly - No Distinct Price Segments - Volume Increases Dramatically Impact Costs - Objective - Large Market Share - Intent: sell whole market- no 'elite market' - Focus: High volume- sacrifice profit margin - Result: Keep competition outGeneral mgr. responsibilities for their products is profit and loss and market share and volume targets. - Marketing planning - Planning product strategies - Implementing strategiesAttitudes Toward International Buying, Government Bureaucracy, Monetary Regulations, Political Stability- Line Extension (Currently served product category and existing brand name) Ex: shampoo (volume, frizz, color) - Existing brand names extended to new forms, sizes, and flavors of an existing product category - Brand Extension (new product category and new brand name) like snicker candy bar and snicker icecream bar - Existing brand names extended to new product categories - Multi-brands (Currently served product category and new brand name) like doritos, Cheetos, tostitos - New brand names introduced in the same product category - New Brands (new product category and new brand name - New brand names in new product categories

2. Product manager's duties

Attitudes Toward International Buying, Government Bureaucracy, Monetary Regulations, Political Stability(gain market share) - Price Low Initially - Elastic Demand - Offering Not Unique - Competition Entering Quickly - No Distinct Price Segments - Volume Increases Dramatically Impact Costs - Objective - Large Market Share - Intent: sell whole market- no 'elite market' - Focus: High volume- sacrifice profit margin - Result: Keep competition outGeneral mgr. responsibilities for their products is profit and loss and market share and volume targets. - Marketing planning - Planning product strategies - Implementing strategies- Line Extension (Currently served product category and existing brand name) Ex: shampoo (volume, frizz, color) - Existing brand names extended to new forms, sizes, and flavors of an existing product category - Brand Extension (new product category and new brand name) like snicker candy bar and snicker icecream bar - Existing brand names extended to new product categories - Multi-brands (Currently served product category and new brand name) like doritos, Cheetos, tostitos - New brand names introduced in the same product category - New Brands (new product category and new brand name - New brand names in new product categories

3. Penetration Strategy

Attitudes Toward International Buying, Government Bureaucracy, Monetary Regulations, Political Stability- Line Extension (Currently served product category and existing brand name) Ex: shampoo (volume, frizz, color) - Existing brand names extended to new forms, sizes, and flavors of an existing product category - Brand Extension (new product category and new brand name) like snicker candy bar and snicker icecream bar - Existing brand names extended to new product categories - Multi-brands (Currently served product category and new brand name) like doritos, Cheetos, tostitos - New brand names introduced in the same product category - New Brands (new product category and new brand name - New brand names in new product categories(gain market share) - Price Low Initially - Elastic Demand - Offering Not Unique - Competition Entering Quickly - No Distinct Price Segments - Volume Increases Dramatically Impact Costs - Objective - Large Market Share - Intent: sell whole market- no 'elite market' - Focus: High volume- sacrifice profit margin - Result: Keep competition outGeneral mgr. responsibilities for their products is profit and loss and market share and volume targets. - Marketing planning - Planning product strategies - Implementing strategies

4. The four criteria for evaluating a country's legal/political environment

- Line Extension (Currently served product category and existing brand name) Ex: shampoo (volume, frizz, color) - Existing brand names extended to new forms, sizes, and flavors of an existing product category - Brand Extension (new product category and new brand name) like snicker candy bar and snicker icecream bar - Existing brand names extended to new product categories - Multi-brands (Currently served product category and new brand name) like doritos, Cheetos, tostitos - New brand names introduced in the same product category - New Brands (new product category and new brand name - New brand names in new product categoriesGeneral mgr. responsibilities for their products is profit and loss and market share and volume targets. - Marketing planning - Planning product strategies - Implementing strategiesAttitudes Toward International Buying, Government Bureaucracy, Monetary Regulations, Political Stability(gain market share) - Price Low Initially - Elastic Demand - Offering Not Unique - Competition Entering Quickly - No Distinct Price Segments - Volume Increases Dramatically Impact Costs - Objective - Large Market Share - Intent: sell whole market- no 'elite market' - Focus: High volume- sacrifice profit margin - Result: Keep competition out

5. Value

Recognition, consistency, confident, image/status, etc- Line Extension (Currently served product category and existing brand name) Ex: shampoo (volume, frizz, color) - Existing brand names extended to new forms, sizes, and flavors of an existing product category - Brand Extension (new product category and new brand name) like snicker candy bar and snicker icecream bar - Existing brand names extended to new product categories - Multi-brands (Currently served product category and new brand name) like doritos, Cheetos, tostitos - New brand names introduced in the same product category - New Brands (new product category and new brand name - New brand names in new product categoriesGeneral mgr. responsibilities for their products is profit and loss and market share and volume targets. - Marketing planning - Planning product strategies - Implementing strategies(gain market share) - Price Low Initially - Elastic Demand - Offering Not Unique - Competition Entering Quickly - No Distinct Price Segments - Volume Increases Dramatically Impact Costs - Objective - Large Market Share - Intent: sell whole market- no 'elite market' - Focus: High volume- sacrifice profit margin - Result: Keep competition out

6. Advantages and disadvantages of Product-Focused Orgs

General mgr. responsibilities for their products is profit and loss and market share and volume targets. - Marketing planning - Planning product strategies - Implementing strategies(gain market share) - Price Low Initially - Elastic Demand - Offering Not Unique - Competition Entering Quickly - No Distinct Price Segments - Volume Increases Dramatically Impact Costs - Objective - Large Market Share - Intent: sell whole market- no 'elite market' - Focus: High volume- sacrifice profit margin - Result: Keep competition outAdv. Single point is responsible. Disadvantage: they're not paying attention to the consumer- Line Extension (Currently served product category and existing brand name) Ex: shampoo (volume, frizz, color) - Existing brand names extended to new forms, sizes, and flavors of an existing product category - Brand Extension (new product category and new brand name) like snicker candy bar and snicker icecream bar - Existing brand names extended to new product categories - Multi-brands (Currently served product category and new brand name) like doritos, Cheetos, tostitos - New brand names introduced in the same product category - New Brands (new product category and new brand name - New brand names in new product categories

7. Describe the four stages of a Product Life Cycle

General mgr. responsibilities for their products is profit and loss and market share and volume targets. - Marketing planning - Planning product strategies - Implementing strategiesIntroduction (gain awareness): primary demand. Selective demand. Skimming strategy, and penetration stategy - Growth (stress differentiation): rapid sales growth, more competitors, repseat purchasers, new features. Broad distribution - Maturity (maintain brand loyalty): industry/product sales show, profit declines, product differentiation, fewer competitors. - Decline (harvesting and deletion): industry/product sales drop, environmental changes, deletion and harvesting(gain market share) - Price Low Initially - Elastic Demand - Offering Not Unique - Competition Entering Quickly - No Distinct Price Segments - Volume Increases Dramatically Impact Costs - Objective - Large Market Share - Intent: sell whole market- no 'elite market' - Focus: High volume- sacrifice profit margin - Result: Keep competition out- Line Extension (Currently served product category and existing brand name) Ex: shampoo (volume, frizz, color) - Existing brand names extended to new forms, sizes, and flavors of an existing product category - Brand Extension (new product category and new brand name) like snicker candy bar and snicker icecream bar - Existing brand names extended to new product categories - Multi-brands (Currently served product category and new brand name) like doritos, Cheetos, tostitos - New brand names introduced in the same product category - New Brands (new product category and new brand name - New brand names in new product categories

8. Marketing organization types

- Line Extension (Currently served product category and existing brand name) Ex: shampoo (volume, frizz, color) - Existing brand names extended to new forms, sizes, and flavors of an existing product category - Brand Extension (new product category and new brand name) like snicker candy bar and snicker icecream bar - Existing brand names extended to new product categories - Multi-brands (Currently served product category and new brand name) like doritos, Cheetos, tostitos - New brand names introduced in the same product category - New Brands (new product category and new brand name - New brand names in new product categories(gain market share) - Price Low Initially - Elastic Demand - Offering Not Unique - Competition Entering Quickly - No Distinct Price Segments - Volume Increases Dramatically Impact Costs - Objective - Large Market Share - Intent: sell whole market- no 'elite market' - Focus: High volume- sacrifice profit margin - Result: Keep competition outProduct-Focused Organizations - Market-Focused Organizations - Functionally Focused OrganizationsGeneral mgr. responsibilities for their products is profit and loss and market share and volume targets. - Marketing planning - Planning product strategies - Implementing strategies

9. Define brand

General mgr. responsibilities for their products is profit and loss and market share and volume targets. - Marketing planning - Planning product strategies - Implementing strategies- Line Extension (Currently served product category and existing brand name) Ex: shampoo (volume, frizz, color) - Existing brand names extended to new forms, sizes, and flavors of an existing product category - Brand Extension (new product category and new brand name) like snicker candy bar and snicker icecream bar - Existing brand names extended to new product categories - Multi-brands (Currently served product category and new brand name) like doritos, Cheetos, tostitos - New brand names introduced in the same product category - New Brands (new product category and new brand name - New brand names in new product categoriesBrand name can be a logo. - Trade name - Trademark- product counterfeiting - Brand personality - Brand equity (provides a competitive advantage and consumers willing to pay a premium) - Awareness (recall and recognition) - Associations (perceived quality and image)(gain market share) - Price Low Initially - Elastic Demand - Offering Not Unique - Competition Entering Quickly - No Distinct Price Segments - Volume Increases Dramatically Impact Costs - Objective - Large Market Share - Intent: sell whole market- no 'elite market' - Focus: High volume- sacrifice profit margin - Result: Keep competition out

10. Define reference brand

11. The Consumer Buying Decision Process

General mgr. responsibilities for their products is profit and loss and market share and volume targets. - Marketing planning - Planning product strategies - Implementing strategies- Line Extension (Currently served product category and existing brand name) Ex: shampoo (volume, frizz, color) - Existing brand names extended to new forms, sizes, and flavors of an existing product category - Brand Extension (new product category and new brand name) like snicker candy bar and snicker icecream bar - Existing brand names extended to new product categories - Multi-brands (Currently served product category and new brand name) like doritos, Cheetos, tostitos - New brand names introduced in the same product category - New Brands (new product category and new brand name - New brand names in new product categories(gain market share) - Price Low Initially - Elastic Demand - Offering Not Unique - Competition Entering Quickly - No Distinct Price Segments - Volume Increases Dramatically Impact Costs - Objective - Large Market Share - Intent: sell whole market- no 'elite market' - Focus: High volume- sacrifice profit margin - Result: Keep competition outNeed recognition> perceiving a need (difference between current and disred state) - Information search> seeking value (gather information ex/internal stimuli) personal, commercial, public, and experiential sources - Evaluation of alternatives> assessing value

12. Consumers are overloaded, how do they cope?

(gain market share) - Price Low Initially - Elastic Demand - Offering Not Unique - Competition Entering Quickly - No Distinct Price Segments - Volume Increases Dramatically Impact Costs - Objective - Large Market Share - Intent: sell whole market- no 'elite market' - Focus: High volume- sacrifice profit margin - Result: Keep competition outChoice has two phases - - Screening: Eliminate Alternatives - - Comparison: A small set of alternatives (2-3) get intense scrutiny- Line Extension (Currently served product category and existing brand name) Ex: shampoo (volume, frizz, color) - Existing brand names extended to new forms, sizes, and flavors of an existing product category - Brand Extension (new product category and new brand name) like snicker candy bar and snicker icecream bar - Existing brand names extended to new product categories - Multi-brands (Currently served product category and new brand name) like doritos, Cheetos, tostitos - New brand names introduced in the same product category - New Brands (new product category and new brand name - New brand names in new product categoriesGeneral mgr. responsibilities for their products is profit and loss and market share and volume targets. - Marketing planning - Planning product strategies - Implementing strategies

13. Positioning Strategies 4 General Types

- Line Extension (Currently served product category and existing brand name) Ex: shampoo (volume, frizz, color) - Existing brand names extended to new forms, sizes, and flavors of an existing product category - Brand Extension (new product category and new brand name) like snicker candy bar and snicker icecream bar - Existing brand names extended to new product categories - Multi-brands (Currently served product category and new brand name) like doritos, Cheetos, tostitos - New brand names introduced in the same product category - New Brands (new product category and new brand name - New brand names in new product categoriesGeneral mgr. responsibilities for their products is profit and loss and market share and volume targets. - Marketing planning - Planning product strategies - Implementing strategiesHead on: competing directly on similar product attributes in the same target market - With an idea: multiple scenario that are inspirations (cosmetics, celebrities, fragrance using models.) - For social accountability: how 'green' displaying concern for their consumer benefit or welfare for the community - U.S.P unique selling position (chegg and toms)(gain market share) - Price Low Initially - Elastic Demand - Offering Not Unique - Competition Entering Quickly - No Distinct Price Segments - Volume Increases Dramatically Impact Costs - Objective - Large Market Share - Intent: sell whole market- no 'elite market' - Focus: High volume- sacrifice profit margin - Result: Keep competition out

14. Characteristics of a service

General mgr. responsibilities for their products is profit and loss and market share and volume targets. - Marketing planning - Planning product strategies - Implementing strategiesintangible (Cant be seen, touched or held) , inventory, inseparable, inconsistent,- Line Extension (Currently served product category and existing brand name) Ex: shampoo (volume, frizz, color) - Existing brand names extended to new forms, sizes, and flavors of an existing product category - Brand Extension (new product category and new brand name) like snicker candy bar and snicker icecream bar - Existing brand names extended to new product categories - Multi-brands (Currently served product category and new brand name) like doritos, Cheetos, tostitos - New brand names introduced in the same product category - New Brands (new product category and new brand name - New brand names in new product categories(gain market share) - Price Low Initially - Elastic Demand - Offering Not Unique - Competition Entering Quickly - No Distinct Price Segments - Volume Increases Dramatically Impact Costs - Objective - Large Market Share - Intent: sell whole market- no 'elite market' - Focus: High volume- sacrifice profit margin - Result: Keep competition out

15. Market-focused organization

(gain market share) - Price Low Initially - Elastic Demand - Offering Not Unique - Competition Entering Quickly - No Distinct Price Segments - Volume Increases Dramatically Impact Costs - Objective - Large Market Share - Intent: sell whole market- no 'elite market' - Focus: High volume- sacrifice profit margin - Result: Keep competition outSegments - Industry - Channels of Distribution - Geographic Regions - Significant Buyer Behavior Differences (consumer advantage)- Line Extension (Currently served product category and existing brand name) Ex: shampoo (volume, frizz, color) - Existing brand names extended to new forms, sizes, and flavors of an existing product category - Brand Extension (new product category and new brand name) like snicker candy bar and snicker icecream bar - Existing brand names extended to new product categories - Multi-brands (Currently served product category and new brand name) like doritos, Cheetos, tostitos - New brand names introduced in the same product category - New Brands (new product category and new brand name - New brand names in new product categoriesGeneral mgr. responsibilities for their products is profit and loss and market share and volume targets. - Marketing planning - Planning product strategies - Implementing strategies

16. What are the four stages of economic development?

Subsistence economies â†’ raw material exporting economies (industrial structure) â†’ Industrializing economies â†’ industrial economies (income distribution)(gain market share) - Price Low Initially - Elastic Demand - Offering Not Unique - Competition Entering Quickly - No Distinct Price Segments - Volume Increases Dramatically Impact Costs - Objective - Large Market Share - Intent: sell whole market- no 'elite market' - Focus: High volume- sacrifice profit margin - Result: Keep competition out- Line Extension (Currently served product category and existing brand name) Ex: shampoo (volume, frizz, color) - Existing brand names extended to new forms, sizes, and flavors of an existing product category - Brand Extension (new product category and new brand name) like snicker candy bar and snicker icecream bar - Existing brand names extended to new product categories - Multi-brands (Currently served product category and new brand name) like doritos, Cheetos, tostitos - New brand names introduced in the same product category - New Brands (new product category and new brand name - New brand names in new product categoriesGeneral mgr. responsibilities for their products is profit and loss and market share and volume targets. - Marketing planning - Planning product strategies - Implementing strategies

17. Product-Based Pricing:

- Line Extension (Currently served product category and existing brand name) Ex: shampoo (volume, frizz, color) - Existing brand names extended to new forms, sizes, and flavors of an existing product category - Brand Extension (new product category and new brand name) like snicker candy bar and snicker icecream bar - Existing brand names extended to new product categories - Multi-brands (Currently served product category and new brand name) like doritos, Cheetos, tostitos - New brand names introduced in the same product category - New Brands (new product category and new brand name - New brand names in new product categoriesGeneral mgr. responsibilities for their products is profit and loss and market share and volume targets. - Marketing planning - Planning product strategies - Implementing strategiesProduct line pricing: setting price steps between product line items- i.e. $299, $399 - Optional-product pricing: pricing optional or accessory products sold with main product- i.e. car options - Captive- product pricing: pricing products that must be used with main product- i.e. razor blades, film, software - By-product pricing: pricing low value by-products to get rid of them- i.e. lumber mills and zoos - Product-bundle pricing: pricing bundles of products sold together- i.e. season tickets, computer makers(gain market share) - Price Low Initially - Elastic Demand - Offering Not Unique - Competition Entering Quickly - No Distinct Price Segments - Volume Increases Dramatically Impact Costs - Objective - Large Market Share - Intent: sell whole market- no 'elite market' - Focus: High volume- sacrifice profit margin - Result: Keep competition out

18. Product manager's Qualifications

(gain market share) - Price Low Initially - Elastic Demand - Offering Not Unique - Competition Entering Quickly - No Distinct Price Segments - Volume Increases Dramatically Impact Costs - Objective - Large Market Share - Intent: sell whole market- no 'elite market' - Focus: High volume- sacrifice profit margin - Result: Keep competition outGeneral mgr. responsibilities for their products is profit and loss and market share and volume targets. - Marketing planning - Planning product strategies - Implementing strategies- Line Extension (Currently served product category and existing brand name) Ex: shampoo (volume, frizz, color) - Existing brand names extended to new forms, sizes, and flavors of an existing product category - Brand Extension (new product category and new brand name) like snicker candy bar and snicker icecream bar - Existing brand names extended to new product categories - Multi-brands (Currently served product category and new brand name) like doritos, Cheetos, tostitos - New brand names introduced in the same product category - New Brands (new product category and new brand name - New brand names in new product categoriesMBA, BA required. Several had internal training. Experience is more important for consumer products, small companies, and industrial sector.

19. Functionally-focused organization

- Line Extension (Currently served product category and existing brand name) Ex: shampoo (volume, frizz, color) - Existing brand names extended to new forms, sizes, and flavors of an existing product category - Brand Extension (new product category and new brand name) like snicker candy bar and snicker icecream bar - Existing brand names extended to new product categories - Multi-brands (Currently served product category and new brand name) like doritos, Cheetos, tostitos - New brand names introduced in the same product category - New Brands (new product category and new brand name - New brand names in new product categories(gain market share) - Price Low Initially - Elastic Demand - Offering Not Unique - Competition Entering Quickly - No Distinct Price Segments - Volume Increases Dramatically Impact Costs - Objective - Large Market Share - Intent: sell whole market- no 'elite market' - Focus: High volume- sacrifice profit margin - Result: Keep competition outAligned By Function - Most Marketing Orgs. Have Some - Coordinated ImplementationGeneral mgr. responsibilities for their products is profit and loss and market share and volume targets. - Marketing planning - Planning product strategies - Implementing strategies

20. Skimming Strategy

- Line Extension (Currently served product category and existing brand name) Ex: shampoo (volume, frizz, color) - Existing brand names extended to new forms, sizes, and flavors of an existing product category - Brand Extension (new product category and new brand name) like snicker candy bar and snicker icecream bar - Existing brand names extended to new product categories - Multi-brands (Currently served product category and new brand name) like doritos, Cheetos, tostitos - New brand names introduced in the same product category - New Brands (new product category and new brand name - New brand names in new product categories(make profit as fast as possible) - Price High Initially - Reduce Over Time - Inelastic Demand - Buyers Price Range - Unique Offering - Production or Marketing Costs Unknown - Limited Capacity to Deliver - Realistic Perceived Value - Intent: Capture 'cream' - Less price. Sensitive buyers - Focus: High profit margin- sacrifice volume - Result: Invite competitors- short term profits - General mgr. responsibilities for their products is profit and loss and market share and volume targets. - Marketing planning - Planning product strategies - Implementing strategies(gain market share) - Price Low Initially - Elastic Demand - Offering Not Unique - Competition Entering Quickly - No Distinct Price Segments - Volume Increases Dramatically Impact Costs - Objective - Large Market Share - Intent: sell whole market- no 'elite market' - Focus: High volume- sacrifice profit margin - Result: Keep competition out

21. Product manager's Critical skills

- Line Extension (Currently served product category and existing brand name) Ex: shampoo (volume, frizz, color) - Existing brand names extended to new forms, sizes, and flavors of an existing product category - Brand Extension (new product category and new brand name) like snicker candy bar and snicker icecream bar - Existing brand names extended to new product categories - Multi-brands (Currently served product category and new brand name) like doritos, Cheetos, tostitos - New brand names introduced in the same product category - New Brands (new product category and new brand name - New brand names in new product categoriesOrganized, efficient, excellent interpersonal skills, persuasive, and aware of business environment(gain market share) - Price Low Initially - Elastic Demand - Offering Not Unique - Competition Entering Quickly - No Distinct Price Segments - Volume Increases Dramatically Impact Costs - Objective - Large Market Share - Intent: sell whole market- no 'elite market' - Focus: High volume- sacrifice profit margin - Result: Keep competition outGeneral mgr. responsibilities for their products is profit and loss and market share and volume targets. - Marketing planning - Planning product strategies - Implementing strategies

22. What are the three general options for doing business in a new country?

Exporting: - Indirect - Direct | Joint venturing - Licensing - Contract manufacturing - Management Contracting - Joint Ownership | Direct investment - Assembly facilities - Manufacturing facilities- Line Extension (Currently served product category and existing brand name) Ex: shampoo (volume, frizz, color) - Existing brand names extended to new forms, sizes, and flavors of an existing product category - Brand Extension (new product category and new brand name) like snicker candy bar and snicker icecream bar - Existing brand names extended to new product categories - Multi-brands (Currently served product category and new brand name) like doritos, Cheetos, tostitos - New brand names introduced in the same product category - New Brands (new product category and new brand name - New brand names in new product categories(gain market share) - Price Low Initially - Elastic Demand - Offering Not Unique - Competition Entering Quickly - No Distinct Price Segments - Volume Increases Dramatically Impact Costs - Objective - Large Market Share - Intent: sell whole market- no 'elite market' - Focus: High volume- sacrifice profit margin - Result: Keep competition outGeneral mgr. responsibilities for their products is profit and loss and market share and volume targets. - Marketing planning - Planning product strategies - Implementing strategies

23. Define Brand equity

- Line Extension (Currently served product category and existing brand name) Ex: shampoo (volume, frizz, color) - Existing brand names extended to new forms, sizes, and flavors of an existing product category - Brand Extension (new product category and new brand name) like snicker candy bar and snicker icecream bar - Existing brand names extended to new product categories - Multi-brands (Currently served product category and new brand name) like doritos, Cheetos, tostitos - New brand names introduced in the same product category - New Brands (new product category and new brand name - New brand names in new product categoriesthe added value endowed by the brand name - intangible but measurable - key elements: associations. awareness, quality, loyalty(gain market share) - Price Low Initially - Elastic Demand - Offering Not Unique - Competition Entering Quickly - No Distinct Price Segments - Volume Increases Dramatically Impact Costs - Objective - Large Market Share - Intent: sell whole market- no 'elite market' - Focus: High volume- sacrifice profit margin - Result: Keep competition outGeneral mgr. responsibilities for their products is profit and loss and market share and volume targets. - Marketing planning - Planning product strategies - Implementing strategies

24. 8 Specific Types of positioning strategies

Value, usage, product attributes, benefits offered, cultural symbols, product user, away and against competitors.General mgr. responsibilities for their products is profit and loss and market share and volume targets. - Marketing planning - Planning product strategies - Implementing strategies(gain market share) - Price Low Initially - Elastic Demand - Offering Not Unique - Competition Entering Quickly - No Distinct Price Segments - Volume Increases Dramatically Impact Costs - Objective - Large Market Share - Intent: sell whole market- no 'elite market' - Focus: High volume- sacrifice profit margin - Result: Keep competition out- Line Extension (Currently served product category and existing brand name) Ex: shampoo (volume, frizz, color) - Existing brand names extended to new forms, sizes, and flavors of an existing product category - Brand Extension (new product category and new brand name) like snicker candy bar and snicker icecream bar - Existing brand names extended to new product categories - Multi-brands (Currently served product category and new brand name) like doritos, Cheetos, tostitos - New brand names introduced in the same product category - New Brands (new product category and new brand name - New brand names in new product categories

25. Describe the branding options a manufacture has

General mgr. responsibilities for their products is profit and loss and market share and volume targets. - Marketing planning - Planning product strategies - Implementing strategies- Line Extension (Currently served product category and existing brand name) Ex: shampoo (volume, frizz, color) - Existing brand names extended to new forms, sizes, and flavors of an existing product category - Brand Extension (new product category and new brand name) like snicker candy bar and snicker icecream bar - Existing brand names extended to new product categories - Multi-brands (Currently served product category and new brand name) like doritos, Cheetos, tostitos - New brand names introduced in the same product category - New Brands (new product category and new brand name - New brand names in new product categories(gain market share) - Price Low Initially - Elastic Demand - Offering Not Unique - Competition Entering Quickly - No Distinct Price Segments - Volume Increases Dramatically Impact Costs - Objective - Large Market Share - Intent: sell whole market- no 'elite market' - Focus: High volume- sacrifice profit margin - Result: Keep competition outManufacture -Multiproduct branding strategy and Multibranding strategy (BMW and MINI) - Private branding strategy- manufactures products but sells them under the brand name of a wholesaler or retailer (up and up target) - Mixed branding strategy- firm markets products under its own name & that of a reseller because segment is attracted to the reseller is different from its own (Elizabeth arden and skin simple) - Co branding- pairing 2 brands (chips ahoy- Nabisco & hersheys.) - Licensing- When owner of a name allows another company to put their name on their product

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❤ If you liked Fatskills, consider supporting us by checking out The Life Manuals You Never Got.

About | Explore | User Guide | Topics | Subjects | Doubt Solver | Career Aptitude Test | Answers | Free Tools | OSHA Basics Quiz | What Should We Know? Privacy | Terms |

Without work one finishes nothing. - Ralph Waldo Emerson© 2026 Fatskills.com

All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks and brands does not imply endorsement.

About | Explore | User Guide | Topics | Subjects | Doubt Solver | Career Aptitude Test | Answers | Free Tools | OSHA Basics Quiz | What Should We Know?
Privacy | Terms |

Without work one finishes nothing. - Ralph Waldo Emerson
© 2026 Fatskills.com