Marketing Management Chapter 5
Marketing Management Chapter 5
Principles of Marketing
Product Marketing
Product is the core of the
marketing mix
Product defines what will
be priced, promoted, and
distributed
If you are able to create
and deliver a product that
provides exceptional value
to your target customer,
the rest of the marketing
mix is easier to manage
What is a product?
Companies evaluate
product portfolios and
SBUs using the
growth-share matrix
Product Life Cycles and Growth-Share
Knowing about
the product life
cycle is also
important to
understanding
market growth
Product Portfolio
Management
Product portfolio
management
requires marketers to
consider each
product individually
but also understand
the way the products
fit together
collectively
Portfolio Management Strategies
• Product proliferation
• Brand extension
• Private branding
Reasons for Product Deletion
• Duration of testing
• Selection of test markets
• Sample size determination
Launch Marketing Strategies