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4/20 Warm-up

4/20 Warm-up. Identify 2 competitors in the same market. Explain how your business distinguishes itself from its competitors What do they want people to believe?. Key Product Marketing Concepts. Product Positioning Product in relationship to competitors. Product Life Cycle

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4/20 Warm-up

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  1. 4/20 Warm-up • Identify 2 competitors in the same market. • Explain how your business distinguishes itself from its competitors • What do they want people to believe?

  2. Key Product Marketing Concepts • Product Positioning • Product in relationship to competitors.\ • Product Life Cycle • Adjusting marketing strategies based on sales/revenue. • Managing Product Portfolio • BCG Matrix

  3. Product PositioningPosition product in the mind of the market GOAL FOCUS An Image Market’s Perception Set Apart from Competition

  4. Vision for Employees (staff = brand builders) Values, Identity, Vision Shape Public’s Perception (images, feelings, impressions) Internal Promise a BRAND is... Risk Reducer (build trust) Consistency External Short-hand (delivers chunks of information) Experience Positioning (functional & emotional)

  5. Apple Case Study - Objectives • Define product line, mix and range. • Identify stages in the life cycle of Apple’s products • Calculate annual sales • Illustrate the life cycle using charts • Identify marketing strategies appropriate for each stage • Explain the connection between investment/profit/cash flow & the life cycle stages • Identify extension strategies • Use the Boston Consulting Group (BCG) matrix to analyze a product portfolio

  6. Product Life Cycle (PLC)

  7. PLC & Sales/Profit

  8. 4/23 Warm-up • Work with your group to complete the Branding Worksheet • Choose a brand (any), draw symbol/mark on worksheet. • Respond to questions.

  9. Marketing Strategies & Product Life Cycle

  10. Mac

  11. iPod 1G Commercial

  12. iPhone 1G Commercial

  13. iPad

  14. Boston Consulting Group (BCG) Matrix Industry Attractiveness Competitive Advantage

  15. Boston Consulting Group (BCG) Matrix Cash Usage Cash Generation

  16. Boston Consulting Group (BCG) Matrix Industry Attractiveness Cash Usage Cash Generation Competitive Advantage

  17. BCG Matrix

  18. Boston Consulting Group (BCG) Matrix High Market Growth Low Relative Market Share Low High

  19. Product Positioning Map Rip-off High Price Premium Chipotle Qdoba Taco del Mar Low Quality Taco Time High Quality Taco Bell Value Low Price Bargain

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