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

Chapter 11 - Managing successful products, services, and brands. This chapter 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. | McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Explain the product life-cycle concept. LO1 Identify the ways that marketing executives manage a product’s life cycle. Recognize the importance of branding and alternative branding strategies. LO3 LO2 LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 11, YOU SHOULD BE ABLE TO: Describe the role of packaging, labeling, and warranties in the marketing of a product. LO4 GATORADE: BRINGING SCIENCE TO SWEAT FIGURE 11-1 How stages of the product life cycle relate to a firm’s marketing objectives and marketing mix actions FIGURE 11-1A Stages of the product life cycle and its total industry sales and total industry profit FIGURE 11-1B How stages of the product life cycle relate to a firm’s marketing objectives and marketing mix actions CHARTING THE PRODUCT LIFE CYCLE INTRODUCTION STAGE LO1 Product Life Cycle Primary Demand Selective Demand Skimming Strategy Penetration Pricing . | McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Explain the product life-cycle concept. LO1 Identify the ways that marketing executives manage a product’s life cycle. Recognize the importance of branding and alternative branding strategies. LO3 LO2 LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 11, YOU SHOULD BE ABLE TO: Describe the role of packaging, labeling, and warranties in the marketing of a product. LO4 GATORADE: BRINGING SCIENCE TO SWEAT FIGURE 11-1 How stages of the product life cycle relate to a firm’s marketing objectives and marketing mix actions FIGURE 11-1A Stages of the product life cycle and its total industry sales and total industry profit FIGURE 11-1B How stages of the product life cycle relate to a firm’s marketing objectives and marketing mix actions CHARTING THE PRODUCT LIFE CYCLE INTRODUCTION STAGE LO1 Product Life Cycle Primary Demand Selective Demand Skimming Strategy Penetration Pricing Stimulate Trial FIGURE 11-2 Product life cycle for the stand-alone fax machine for business use: 1970-2014 CHARTING THE PRODUCT LIFE CYCLE GROWTH STAGE LO1 Rapid Sales Growth Repeat Purchasers New Features Broad Distribution More Competitors CHARTING THE PRODUCT LIFE CYCLE MATURITY STAGE LO1 Product Differentiation Fewer Competitors Industry/Product Sales Slow Profit Declines CHARTING THE PRODUCT LIFE CYCLE DECLINE STAGE LO1 Deletion Harvesting Environmental Changes Industry/Product Sales Drop MARKETING MATTERS Will E-Mail Spell Extinction for Fax Machines? LO1 CHARTING THE PRODUCT LIFE CYCLE FOUR ASPECTS LO1 Length of the Product Life Cycle Shape of the Product Life Cycle Generalized Life Cycle High-Learning Product Fashion Product Fad Product Low-Learning product FIGURE 11-3 Alternative product life cycle curves based on product types The Product Level: Class and Form Product Class Product Form CHARTING THE PRODUCT LIFE CYCLE FOUR ASPECTS LO1 .