Commercialize the plans and prototypes from development phase, begin distribution and sale of the new product (maybe on a limited basis) and manage the launch program to achieve the goals and objectives set in the PIC (as modified in the final business plan).
Strategies Given :
Corporate, some team decision made earlier, often found in the PIC guidelines
Strategic Platform Decisions:
Product Positioning:
• Target market criteria (demographic, geographic, psychographic, benefit segmentation)
• Everybody — no narrowing down (mass customization, Post-It notes)
The real issue here is commitment — by all new product participants and by management
• Formatted in three ways:
– Solves major problem current products do not.
– Better meet needs and preferences.
– Lower price than current items.
• Can be stated as one or more features (what it is).
• Can be stated as a function (how it works).
• Can be stated as one or more benefits (how the user gains).
• Can be stated as a surrogate (no features, functions, benefits).
Branding Decisions:
Trademarks & Registration:
• Trademark: A word, symbol, logo, word string, sound signature that identifies a product.
• Generally, “trademark” refers to legal aspects while “brand” refers to marketing strategy.
• Technically, services have service marks, and businesses have trade names (not trademarks).
• If a trademark is registered, the firm can keep the trademark forever even if another firm can show prior use.
• Trademarks should not be immoral or misleading.
• Trademarks should not be too descriptive of a product type (Light cigarettes).
• Should not be confusingly similar to other trademarks (consider Apple Inc. vs. Apple Corps, McSleep vs. McDonald’s).
Questions and Guidelines in Brand Name Selection:
Global Branding and Positioning:
• Standardization: Gillette uses the same brand name and positioning worldwide (“The Best A Man Can Get”).
• Adaptation of Positioning: Canon sells the same camera worldwide but uses the “So Advanced, It’s Simple” positioning in North America.
• Adaptation of Brands: General Mills cereals are marketed in Europe through a joint venture with Nestle and are sold under the Nestle corporate name there.
Global Brand Leadership:
• The examples show that the goal is not necessarily to pursue a single global brand, but to create a strong presence in every market through global brand leadership.
• Consistent brand management: develop brand manuals, set up workshops, train brand managers, consider intangibles such as quality reputation.
• Frito-Lay runs a “market university” three times a year to encourage sharing of successful practices among managers worldwide.
Packaging:
• The role of packaging: containment, protection, safety, display, and information/persuasion.
• Packaging can assist the user, permit reusability, meet environmental needs, carry warnings, meet legal requirements, aid in disposability.
• Packaging as a competitive tool: recognizability, convenience, customer attraction, etc.
Corporate, some team decision made earlier, often found in the PIC guidelines
- A specified gross margin: affects funding.
- Speed-to-market: affects promotional outlays and schedules.
- commitment to a given channel: affects distribution plan.
- Advertising policy: affects promotional decisions.
- Pricing Policy: affects decision to use penetration or skimming pricing.
Strategic Platform Decisions:
- Permanence ( Permanent or Temporary)
- Aggressiveness
- Type of Demands Sought ( Primary, Replacement or Selective)
- Competitive Advantage ( Differentiation, Price Leadership or Both)
- Product Line Replacement
- Competitive Relationship (aim at or avoid a competitor)
- Scope of Market Entry ( Slowly , Moderately or Rapidly)
- Image ( Create a new Image, Tweak or use and already existing image )
Product Positioning:
- Who - Why - How
- To whom are we marketing ?
• Target market criteria (demographic, geographic, psychographic, benefit segmentation)
• Everybody — no narrowing down (mass customization, Post-It notes)
The real issue here is commitment — by all new product participants and by management
- Why Should they buy it ?
• Formatted in three ways:
– Solves major problem current products do not.
– Better meet needs and preferences.
– Lower price than current items.
- How do we best Make the Claim ?
• Can be stated as one or more features (what it is).
• Can be stated as a function (how it works).
• Can be stated as one or more benefits (how the user gains).
• Can be stated as a surrogate (no features, functions, benefits).
Branding Decisions:
- What is the brand’s role or purpose?
- Are you planning a line of products?
- Do you expect a long-term position in the market?
- How good is your budget?
- Physical/sensory qualities of brand considered?
- Message clear and relevant?
- Insulting or irritating to anyone?
Trademarks & Registration:
• Trademark: A word, symbol, logo, word string, sound signature that identifies a product.
• Generally, “trademark” refers to legal aspects while “brand” refers to marketing strategy.
• Technically, services have service marks, and businesses have trade names (not trademarks).
• If a trademark is registered, the firm can keep the trademark forever even if another firm can show prior use.
• Trademarks should not be immoral or misleading.
• Trademarks should not be too descriptive of a product type (Light cigarettes).
• Should not be confusingly similar to other trademarks (consider Apple Inc. vs. Apple Corps, McSleep vs. McDonald’s).
Questions and Guidelines in Brand Name Selection:
- Assess the role or purpose of the brand. If the brand is to aid in positioning, choose a meaningful brand name like DieHard.
- Possibility of extension to a line of products. If so, choose carefully so that it is not a limitation in the future (Allegheny Airlines became US Airways).
- Possibility of long-term position in market. A dramatic novelty name usually doesn’t do as well if a long-term position in the market is sought.
- Avoid an irritating or insulting name. Can especially be a problem when entering foreign markets.
- Be careful of regional differences in language. An acceptable name in some Spanish dialects may be offensive in others.
- Allocate enough time to brand selection. The brand name should not be a last-minute rush job.
- Don’t choose the wrong comfort level. A provocative and controversial brand name such as Yahoo! or Bluetooth may be a great strategy,.
- Other pitfalls. Not identifying the key decision makers; people involved in decision don’t understand brand naming; getting “stuck” on a brand name early in the process; not hiring the best patent attorney.
Global Branding and Positioning:
• Standardization: Gillette uses the same brand name and positioning worldwide (“The Best A Man Can Get”).
• Adaptation of Positioning: Canon sells the same camera worldwide but uses the “So Advanced, It’s Simple” positioning in North America.
• Adaptation of Brands: General Mills cereals are marketed in Europe through a joint venture with Nestle and are sold under the Nestle corporate name there.
Global Brand Leadership:
• The examples show that the goal is not necessarily to pursue a single global brand, but to create a strong presence in every market through global brand leadership.
• Consistent brand management: develop brand manuals, set up workshops, train brand managers, consider intangibles such as quality reputation.
• Frito-Lay runs a “market university” three times a year to encourage sharing of successful practices among managers worldwide.
Packaging:
• The role of packaging: containment, protection, safety, display, and information/persuasion.
• Packaging can assist the user, permit reusability, meet environmental needs, carry warnings, meet legal requirements, aid in disposability.
• Packaging as a competitive tool: recognizability, convenience, customer attraction, etc.