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Lecture Marketing (12/e): Chapter 11 – Kerin, Hartley, Rudelius

Chapter 11 - Managing successful products, services, and brands. After reading chapter 11, you should be able to: Explain the product life-cycle concept; identify the ways that marketing executives manage a product’s life cycle; recognize the importance of branding and alternative branding strategies; describe the role of packaging, labeling, and warranties in the marketing of a product. | Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. LO 11-3 LO 11-2 LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 11, YOU SHOULD BE ABLE TO: LO 11-1 Explain the product life-cycle concept. Identify the ways that marketing executives manage a product’s life cycle. Recognize the importance of branding and alternative branding strategies. LO 11-4 Describe the role of packaging, labeling, and warranties in the marketing of a product. 11- GATORADE: BRINGING SCIENCE TO SWEAT TO WIN FROM WITHIN Creating the Gatorade Brand Building the Gatorade Brand 11- FIGURE 11-1 How stages of the product life cycle relate to a firm’s marketing objectives and marketing mix actions 11- FIGURE 11-1A Stages of the product life cycle and its total industry sales and total industry profit 11- FIGURE 11-1B How stages of the product life cycle relate to a firm’s marketing objectives and marketing | Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. LO 11-3 LO 11-2 LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 11, YOU SHOULD BE ABLE TO: LO 11-1 Explain the product life-cycle concept. Identify the ways that marketing executives manage a product’s life cycle. Recognize the importance of branding and alternative branding strategies. LO 11-4 Describe the role of packaging, labeling, and warranties in the marketing of a product. 11- GATORADE: BRINGING SCIENCE TO SWEAT TO WIN FROM WITHIN Creating the Gatorade Brand Building the Gatorade Brand 11- FIGURE 11-1 How stages of the product life cycle relate to a firm’s marketing objectives and marketing mix actions 11- FIGURE 11-1A Stages of the product life cycle and its total industry sales and total industry profit 11- FIGURE 11-1B How stages of the product life cycle relate to a firm’s marketing objectives and marketing mix actions 11- CHARTING THE PRODUCT LIFE CYCLE INTRODUCTION STAGE LO 11-1 Product Life Cycle Primary Demand Selective Demand Skimming Pricing Penetration Pricing Trial 11- FIGURE 11-2 Product life cycle for the stand-alone fax machine for business use: 1970-2014 11- CHARTING THE PRODUCT LIFE CYCLE GROWTH STAGE LO 11-1 Rapid Sales Growth Repeat Purchasers New Features Broad Distribution More Competitors 11- CHARTING THE PRODUCT LIFE CYCLE MATURITY STAGE LO 11-1 Product Differentiation Fewer Competitors Industry/Product Sales Slow Profit Declines 11- CHARTING THE PRODUCT LIFE CYCLE DECLINE STAGE LO 11-1 Deletion Harvesting Industry/Product Sales Drop Environmental Changes 11- Chevy Spark and Amazon Kindle Which stage of the product life cycle? LO 11-1 11- Soft Drinks and Fax Machines Which stage of the product life cycle? LO 11-1 11- MARKETING MATTERS Will E-mail Spell Extinction for Fax Machines? LO 11-1 11- CHARTING THE PRODUCT LIFE CYCLE FOUR