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VesnaDamnjanovic

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Published on February 20, 2008

Author: Yuan

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MARKETING LIFE CYCLE ANALYSIS:  MARKETING LIFE CYCLE ANALYSIS Vesna Damnjanovic, MsC Teachnig Assistant, Faculty of Organisational Sciences,Belgrade, Serbia and Montenegro e-mail: damvesna@fon.bg.ac.yu ESTIEM: Vision of cycles- cycles in business and industry Objectives :  Objectives To present the market changes and opportunities To understand the PLC To explain the brand/product life cycle To develop marketing competitive strategy To apply these concepts in the practice Context :  Context Introduction Main marketing trends from 2005 Product and life cycle strategy Reasons for product failure Brand and brand lifecycle PLC and Boston matrix PLC STAGE example Concusion Key terms Literature Introduction :  Introduction For achieving better marketing performance of products portfolio and market position it is essential to manage the market life cycle. Main task is understand and follow marketing changes Example:  Example “Calculating power” represents a human demand that is probably in the growth stage of the demand life cycle. Technologies life cycles – finger counting, abacuses, slide rules, adding machines, calculators, computers. Each new technology usually satisfies the generic need in a superior way. “Calculating power”:  “Calculating power” Main marketing trends from 2005 (Kotler):  Main marketing trends from 2005 (Kotler) disintermediation, retailers, mass customization, data mining, management information, long time suppliers, outsourcing, franchising, end of mass TV Serbia 2004 estimate of the real market value :  Serbia 2004 estimate of the real market value Serbia 2004 estimate of the real market value with includes TV (52 million €), Print (15 million€), outdoor (9 million€), radio (3 million €) and other (Internet, cinema) 1million €. Four issues arise for the market-led organization (Piercy):  Four issues arise for the market-led organization (Piercy) New customer New competitors New type of organisation New ways of doing business Product and life cycle strategy:  Product and life cycle strategy All products and services have certain life cycles Figure 1.Product life cycle Product and life cycle:  Product and life cycle Product and life cycle:  Product and life cycle Product and life cycle:  Product and life cycle Reasons for product failure:  Reasons for product failure Poor positioning Lack of channel support Lack of organizational teamwork Poor prediction of competitors’ reactions Not really new/different No real benefit Market too small Brand and brand lifecycle:  Brand and brand lifecycle People use brands to make statements about themselves I am higher achiever -Mercedes, Rolex I am on my way to the top – BMW, Armani I am individual – Swatch, Apple I am a world citizen – British Airways, Benetton I care about environment- Body Shop, Cooperative Bank Brand and brand lifecycle:  Brand and brand lifecycle The sales and profits of individual brand cycle may not and often do not follow the life cycle pattern. Brand essence A statement of how the brands is defined Facts – rational aspects what the product does for me, how i would describe the product Feelings – emotional aspects how the brands make me feel, how the brands make me look THE LONGEVITY OF BRANDS:  THE LONGEVITY OF BRANDS Many brands have a heritage and exceptional longevity: Heinz - 1896 Colgate -1875 Coca Cola -1886 Johnson& Johnson -1887 Reasons for brand failure:  Reasons for brand failure arrogance, greed, complacency, inconsistency. BCG:  BCG The Boston Matrix classifies a company’s products in the term of relative market share and market growth rate. Importance of maintaining a balance of products in the portfolio at different stages of the PLC – Boston Matrix helps with the market life cycle analysis BCG matrix :  BCG matrix $ ? Stars Cash Cows Dogs Problem Child Relative market share Market growth rate BCG Portfolio Matrix Example:  BCG Portfolio Matrix Example BCG Portfolio Matrix Example:  BCG Portfolio Matrix Example PLC and Boston matrix:  PLC and Boston matrix Strategies for Resource Allocation:  Strategies for Resource Allocation PLC STAGE workshop:  PLC STAGE workshop PLC STAGE Identify the stage of product life cycle of the following product Color TVs, Black and white TVs, DVD players, Traditional photography, Digital photography, Third generation mobile phone, Email, Mainframe computer MBA programme Products at different PLC stage:  Products at different PLC stage International PLC:  International PLC The same product can be in decline stage in the home market, in the growth stage in the country X, and in the introduction stage in the country Y. PRODUCT POSITIONING ON THE DIFFERENT MARKET – PEUGEOT 106:  PRODUCT POSITIONING ON THE DIFFERENT MARKET – PEUGEOT 106 Key marketing questions for service in education-MBS:  Key marketing questions for service in education-MBS Objectives – how many students do we want? Target market – who is the programme aimed at? Promotion – how do we reach the target market? Product – do we have the right programme for the market? Price – are we pitching at the mass market or premium market? Market audit – do we have any competitors and what are they offering? PEST factors – are there any market developments which might affect our target group or our ability to offer programmes? Beer clasification (focus group research)Serbian market:  Beer clasification (focus group research)Serbian market Slide31:  Laggards 16% Late Majority 34% Early Majority 34% Early Adopters 13.5% Innovators 2.5% Adopter Categories Adopter Categorization on the Basis of Relative Time of Adoption of Innovations Inovators create trends, research new things:  Inovators create trends, research new things Early adopters they are positive about the image of the beer Conclusion:  Conclusion Life cycle decision making is dependent on the level of analysis, the market life cycle, the industry life cycle, and the technological life cycle. Managers should identify marketing requirements and create products or services which present the added value for the customers Key terms:  Key terms Marketing change PLC Brand life cycle BCG and PLC Marketing research International PLC Added value Literature:  Literature Kotler Ph.D, Keller Ph.D, Marketing management, Twelfth edition, New Jersey, Pearson Education, Prentice Hall, 2005. Kotler Ph.D, Amstrong Ph.D, Principles of Marketing, Eleventh edition, New Jersey, Pearson Education, Prentice Hall, 2006. Professional Post Graduate Diploma in Marketing, Chartered Institute of Marketing, Strategic Marketing Decisions, New Syllabus, BPP Professional Education, May 2004. Professional Post Graduate Diploma in Marketing, Chartered Institute of Marketing, Analysis and Evaluation, New Syllabus, BPP Professional Education, May 2004. Filipović dr V., Kostić dr M. , Marketing management, Belgrade, FOS, 2005. Chartered Institute of Marketing, http://www.cim.co.uk Perreault Ph. D, McCarthy Ph.D., Essential of marketing, Mc Graw Hill/Irwin, New York, 2006. Damnjanović V. MsC, master thesis “New trends in matching the sales and marketing strategy through creating customer loyalty“, Belgrade, FOS; 2005. Ioannis Komninos, Product life cycle management, URENIO; Thessaloniki, 2002., p.10-11 http://www.smmri.co.yu, Strategic Marketing Research Agency, Serbia and Montenegro Rachel Tufft, Marketing at Manchester Business School, 2004. MARKETING LIFE CYCLE ANALYSIS:  MARKETING LIFE CYCLE ANALYSIS Vesna Damnjanovic, MsC Teachnig Assistant, Faculty of Organisational Sciences,Belgrade, Serbia and Montenegro e-mail: damvesna@fon.bg.ac.yu ESTIEM: Vision of cycles- cycles in business and industry

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