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| Organizational employee whom is responsible for developing, implementing and refining the marketing plan for a single brand. This person makes sure the marketing communications and 4p's are consistent across the product line, so that the product synergistically fit together. Over time the brand manager runs marketing research studies to discover what the brand means to consumers. |
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| When a company's product sells a lot and 'eats' the sales of the current product line. The loss of sales of an existing brand or product line when a new item in a product line or product family is introduced. For example sales of coke classic dropped when coke zero was introduced. This can be a problem if the profit margin for the new product is lower than the (cash cow) existing product. |
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| An agreement between two brands to work together in marketing a new product. (Ex: Eddie Bauer Ford, Morgan Pepsi). |
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| The final stage in a product life cycle, during which sales decrease as customer needs change, and consumers lose interest. The product may be pulled or sold-off to a specialty vendor. |
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| A brand that a group of individual products or individual brands share. Ex: All Microsoft products have the word Microsoft in their product name or advertising, ditto Disney. The opposite to this is individual branding where consumer don't know the brands are from the same manufacturer (ex: did you know Proctor & Gamble sells Tide Soap, Pringles and Pampers diapers? Each of those is its own family brand, but P&G does not leverage its brand name on any of these products.) |
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| No brand = product is a commodity (see large bins at Winco). A strategy in which products are not branded and are sold at the lowest possible price. |
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| The second stage in the product life cycle, during which the product is accepted and sales rapidly increase. |
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| One company buys a license to incorporate the other brand in its recipe or design. Branded materials are used as ingredients or component parts of other branded products (M&M's Blizzard's at Dairy Queen). Or a company (Intel) pays another (MSFT, or Dell) to highlight the fact that it is part of the product. |
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| The first stage in the product life cycle = the introduction of a new product in the market place. Equivalent to commercialization phase of the product innovation cycle. |
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| An agreement in which one firm sells another firm the right to use a brand name for a specific purpose and for a specific period of time. (Ex: licensed toys). There is approval of usage of brand name but there is no working together (co-design). Think generic manufacturing company licensing Spiderman logo to create new set of toys. |
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| Organizational employee who is responsible for developing and implementing the marketing plans for products sold to a particular customer group (as in typical in business-to-business where customers are large OR where the customers form a target market ex: adrenaline hungry college students). |
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The third and longest stage in the product life cycle, during which sales peak and profit margins narrow as competition gets stiffer. |
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| National or manufacturer brands |
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| Brands that are owned by the manufacturer of the product. This is the normal case, ex: ford, Ben & Jerry's, etc. |
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| The covering or container for a product that provides product protection, facilitates product use and storage, and supplies important marketing communication (such as usages, benefits, instructions for usage, etc.) |
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| Brands that are owned and sold by a certain retailer of distributor (ex: Safeway's Select or Costco's Kirkland) |
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| Product category managers |
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individuals who are responsible for developing and implementing the marketing plan for all the branded products within one product line
(Ex: all Tide detergents for P&G, all trousers for Dockers) |
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A concept that explains how products go through four distinct stages from birth to death: introduction, growth, maturity, and decline. (Not all products die though, they can be continually reinvented). |
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| A firm’s total product offering designed to satisfy a single need or desire of target customers (ex: all the different types of Starbucks Roasted Whole Bean Coffee) |
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| the total set of all product lines a firm offers for sale. The product mix can be one product line or many (referred to as narrow or wide). |
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| This is a brand that has been on the market for a long time, such as Converse Chuck Taylor sneakers or SPAM. The marketing strategy is to rejuvinate (reposition) the brand to resonate with the current generation (ex: this is not your fathers shaving cream) |
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| Total Quality Management (TQM) |
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| A management philosophy that incorporates the ideals of continuous improvement and a myriad of performance measures. TQM measures indiacate whether in fact business performance is improving, stagnant, or declining. |
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| The legal term for a brand name, brand mark, or trade character; trademarks need to be legally registered by a government to obtain protection for exclusive use in that country or territory. |
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groups of people within an organization who work together focus exclusively on the development of a new product. |
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