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36 Cards in this Set

  • Front
  • Back
assess the opportunity
size of the market, competition, estimate of yoruu market share, cost/ease of entry (capital investmen, branding, distrbution, company skills)
determine marketing strategy for new product
-price-set to reflect positionin (premimum, popular, or value) and drive profit
-producct-which attributes to offer (flavor, size)Offer what consumers want?
-promotion-How will you create awareness and trial for product? Advertising, coupons, sampling, product demo, etc.
-placement-where will consumers buy it? Grocery, Mass Merchandisers, Club Stores, etc.
Questions to ask for Declining Sales
-Is the decline driven by a general category decline or a share decline on my brand
Why is share or category declingin?
-Change in consumer habits (goign from fatty foods to healthy foods)
If category is declingin, determine strategy to increase category usage.
Encourage consuerms to use your product more frequently or use more perusage occasion
-Clorox Bleach-"FOr whiter whites, use a full cup"; alt. uses.
if share is delclining..
-price-has rpcie changed relative to competition?
-Product-Has the quality of my product changed/ ANy competitifve product upgrades/new products?
-Promotion-Have my promotions/advertising changed or decreased? Any new competitive promotions/advertising?
-Placement-Have I lost any distrubition? Have competitiors gained distribution?
determine strategy to reverse share decline
-price change,
-product upgrade/new product luanch
-newa advertising/increased promtoins spending
-distribution drive
make sure choose a price that reflects the positioning; if it's premimum, price should be high
what does elasticity tell you?
how responsive your brands sales are to changes in price.
what does cost structure affect price?
a brand must ensure revenues exceed dcost and the brand is profitable
defending against a new competitiors questions
-does the new product meet a consumer need?
-how strong is the competitior? will the spend to support the launch? Are they smart marketers?
-where will they take volume from? Are they targeting you or your competitor?
if need to defend...
-reinforce equity with advertising. remind consumers why your product is better than new competitior-dont give reason to try
-product upgrade to provdie new benefit-never give consumers a product based reason to switch
-load consumers-provide price incentives so consumers will be stocked up with your product when competitior launches
-in addition to the diff. strategies, be sure to track the new compettio's performance after launch
private lable competition-three strategies
-build your equit: use advertiising to communicate qulaity/image of branded products to consuemrs. Establish a point of difference vs. private label
-manage the price gap: dtermine how much of a premium you can afford to charge before your brand starts losing volume to private label (in essence, what is the value of your brand to consumers)
-introduce a value brand: larger companies that have more than one brand competin in agiven category could position one brand as a value brand compete against private label. This offers consumers a branded option at a lower price
advertising question
-does the ad breakthrough the clutter? Have stopping power?
-What is your net takeaway from the ad (what does it tell you)?
-is the advertising message single-minded, easily undrestood, and credible?
-is this message relevant/comeplling ot the brand's target? Is this message ownable by the brand or could any brand deliver this message?
-Will consumers recall the brand that was advertised?
If you were to launch a new product, what are the most critical issues to ensure its success?
make sure that it what consumers need. have value to them. different from competing products.
you are charged w/ marketing in the US a candy bar that has been very successful in England. What things should you consider in bringin the product to the US market
-if consumers wnat it in the US
-if consumers like it enough to gain substantial market share against competitiors
-if consumers will be open to another one-->able to pull them away from competing candy bars
You are the brand maanger of Kingsford Charcoal and you are launchign a new type of charcoal. Should you use the kingsford brand name? What issues woudld you consider in makgin this decision?
-depends on the equity of the name Kingsford
-does it directly compete? should make it so they target different segments
-if totally different segments, and the equity will not carry over... do not do it.
-similar to Unilever's Axe and Dove.. Axe is all about boys and having sex appeal. dove is all about girls and being beautiful no matter what
You are a brand manager at Nabisco and your boss stops by your office to tell you his kids wre goign crazy at a weekend pincinic over beets. he wants to know if Nabisco should enter the beet market. How would you approach this question?
-what's my product?? who's it targeted to? kids or adults?
-did other kids like beets? or just his? what kind of other stuff did they usually eat? do they usually like vegetables?
-would i make this a new flavor? or a new product?
Give an exmaple of a recent new product launch that you think was done well
-Glade Flameless Candle
-new innovation; product differentiation
-reasonable price
-new segment->could even drive category growth b/c negates fear of burnign house down
-lots of promotional layering to induce trial
-intensive distribution, easy to find
-uses Glade name
-easy to understand the concept
You have just been named Brand Manager of Pine Sol. Your sales are declinign considerably. What questions should you ask to understand what is going on?
Is this a category decline? or just my product going down? If category, perhaps a substitute? PEST. if just my product, maybe the competing products such as Clorox Wipes/ 409 are offering promotional discounts. is a new product coming in? how is our production? still the same? did any of our 4P's change? did any of our 3C's change. did consumer behavior change/shift?
You have just been named Brand Manager of Pine Sol. Your sales are declinign considerably. What would you do to reverse the above decline?
why are sales declinig.. b/c of consume perspectiv? since this product is in the maturity stage, heavy price promotions, PR, new scent.. if the consumer wanted it. make it cheaper or add consumer value-->what do consumers wnat.. make it more versatile? add something that also makes this product differentiated from other competitiors.
You have just been named Brand Manager of Pine Sol. Your sales are declinign considerably. What would you do to reverse the above decline if you could not increase your promotional budget?
why are sales declinig.. add more value tot he product, or make it cheaper.
You are the Brand Manager on a product whose sales have been flat for the last five years. However, the brand's market share has been growing at about 3% a year. What is going on with the brand and what should you do about it?
i would assume than competitors are dropping out.
You are launching a new product and you have to determine its pricing strategy. How will you do this?
-is the product in the intro stage or growth stage?
intro-skimming or ____.
-focus groups, surveys that can determine how valuable it is
-competitor prices
-what is the production cost?
-is it going to be a high-end product or regular product?
You are Brand Manager of Formula409. Your boss tells you to evaluate a price incrase as she wnats to increase the profitabilty of your business. Should you do it?
depends on the situation..
-how will consumers react to the price hike?-->switch over to competitors? thus losing sales-->cover the amount lost?
You are the brand manager of Tide. Your boss asks you to evalute a price decrease as he wants you to increase volume. Should you do it?
-it will increase volume-->elasticity?
-but will it generate more revenue?
-will the price return to normal later? will this affect consumer perception?
-will this price decrease be reflected at the retailers?
-will it make a big difference compared to competitors?
-will it make a differnece if consumers are more loyal to other products?
You are the Brand Manager of Fresh Step Cat Litter. You learn that 2 new competitiors are entierng your category: Arm & Hammer Cat Litter and EverFresh Activated Charcoal cat litter. What should you do?
-increase promotional ads to get people to remeber my brand.
-increase promotional pricing-->decrease price to stock up so they'll have so much that there's no need to buy more cat litter.
-make sure that product is satisfying consumers.. dont give the consumer even a chance to want to try the new brands
You are the Brand Manager of Kingsford Charcoal. Gas grill usage is substntially increasing which is cauising charcoal usage to decline. What should you do?
-find a new market for use of charcoal--increase sales
-market penetration-up sales for people still using charcoal grills
Please give me an example of effective advertising?
-Cruise Ship.
-watch Grey's Anatomy on
-reached target segment-women 18-30
-broke through clutter
-message was obvious/clear
-stayed up to date with marketing world by making the ad interactive and lead to website
Please give me an example of ineffective advertising?
-efferdent-denture cleaning. while it may have reached their target market. it didn't do a good job in attracting them or convincing them to take action. took a string of pearls and put in bbq sauce and than put it in a cup w/ efferdent-->showed a cleaning. and that was it. not differentiating itself w/ other competing products. showed two happy elder couples.. cheesy
Here is a print ad. Please evaluate it for me?
-what types of consumers is it trying to reach? do they reach it?
-what's the message they're tring to convey?
Name the 3 most unique brands you can think of and tell me why you think they are unique
-AXE--the types of promotional materials that they do-->def. dont try to get everybody to love them, just get their target market to love them
-American Express
Choose any of ___'s brands and tell me how you would change the way it is marketed
-change it b/c not different from the marketing mix of its competitiors-> not good... need to choose a product that this happens to.
-Ziploc vs. Clorox steamer bags. some frozen vegetables already come in ready to steam bags.
When you walk down the supermarket aisle, what product jumps out and says "buy me" and why?
-chips, def. chips and snack foods. esp. ones that are supposedly more heatlhy for me. --> just relaly appeal to me. i love to eat chips
-food that are convenient as well->like lean pockets.
If you were goign to design your own website, what would it look like?
well.. why am i desigining a website.. what need would it serve.. mm.. probably a consumer report for little things like pens and cosemetics and lotions. i honestly hate buying/trying new products that dont live up to my expectations. since this is for teens-make it more chic but very informative. simple layouts.
what would the title of your autobiography be?
Life as it is...