MKTG 360 1nd Edition Lecture 11 Outline of Last Lecture 1. Product2. Quality as a product objective3. Product Development steps4. Consumer Adoption Stages5. Product lines6. Issues at different stages of lifecycles Outline of Current Lecture 1. Multiple Products2. Fiber One 3. Branding 4. Proctor and Gamble VideoCurrent Lecture1. Multiple productsa. Product line extensionsi. Stretching1. Adding new item to linea. Downwardb. Upwardc. Two-wayii. Filling1. Adding sizes or stylesiii. Contracting a product line or dropping them 2. Fiber One VideoThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.a. Repositioning the product i. Old fiber ones used to taste like cardboard b. Capitalized on refreshing when more people and concerned about eating healthyi. Be in-touch with trendsc. Found sweet spot with just the right amount of fiber and tasting goodd. 50% of budget on couponing e. 30% on sampling f. Targeted marketing towards bloggers to try the product g. Capitalized at maturity stage for brand extensioni. Introducing more products to maximize existing equity3. Brandinga. Name, term, symbol or any other unique element of product that i. Identifies one’s productii. Sets it apart from the competition b. Brand equityi. Certain brands show equity 1. Nike, applec. Connecting with brandsi. “Bonding” with brands1. Identitya. Mac vs. PC2. Nostalgia3. Interdepended4. Lovea. Cheerios through promotion/advertising ii. Identify1. Who are youiii. Meaning1. What are youiv. Responses1. What about you?v. Relationships1. What abut you and me?vi. Brands want to be in the consideration set 4. Proctor and Gamble
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