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An Introduction

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A name, term, sign,symbol, design orcombination of these,intended to identify &differentiate ones

goods or services Something that

creates awareness,

reputation, evenprominence in themarketplace

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Both the level of awareness and the attitude toward the

brand held by the target market

Differences arise from value added endowed to a product

as a result of past marketing activity for the brand

This value can be created for a brand in may ways

Brand equity provides a common denominator for

interpreting marketing strategies and assessing the value

of a brand

The value of a brand can be manifested and exploited inmany ways to benefit the firm (e.g. greater profit, lower

cost, etc)

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Identify and establish

Brand Positioning Develop a clear

understanding of what the

brand is to represent and

how it should be

positioned compared to its

competitors

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Plan and Implement Brand

Marketing Programs. They

depend upon:

Initial choices of brand

elements comprising thebrand and how they are

combined

Marketing activities and the

way the brand is integrated

Other associations leveragedby the brand by linking it to

some other entity

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Measure and Interpret

Brand Performance

A Brand Audit helps to

assess brand health,uncover its sources of

equity, and suggest

ways to improve and

further leverage that

equity.

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Grow and Sustain Brand Equity Define the Brand Strategy

Using the brand-product matrix and the brand

hierarchy Manage Brand Equity over Time

A longer term perspective recognizes changes in

both the external environment and internal goals

and programs

Manage Brand Equity over differentGeographies and Market Segments

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Anything we can offer to a market for attention,acquisition, use or consumption that may satisfya motivation (toward pleasure or away from

pain). 5 different levels of meaning (See Fig 1-1): Core benefit level

Generic product level

Expected product level

Augmented product level Potential product level

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Product management

is an organizational lifecyclefunction within a companydealing with the planning/forecasting/ marketing of a

product or products at allstages of the product lifecycle(PLC)

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Product management (Supplyfocused) and product marketing(Demand focused) are differentyet complementary efforts withthe objective of maximizingsales revenues, market share,

and profit margins. The role of product management

spans many activities fromstrategic to tactical and variesbased on the organizationalstructure of the company.

Product management can be afunction separate on its own anda member of marketing orengineering.

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While involved with the entireproduct lifecycle, productmanagement's main focus is ondriving new productdevelopment .

According to the ProductDevelopment and Management

Association (PDMA), superiorand differentiated newproducts ones that deliverunique benefits and superior

value to the customer is thenumber one driver of successand product profitability.

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Product Management in theOrganization

Depending on the company sizeand history, product managementhas a variety of functions androles.

Frequently there is Profit andLoss (P&L) responsibility as akey metric for evaluating productmanager performance.

In some companies, the productmanagement function is the hub ofmany other activities around theproduct. In others, it is one of

many things that need to happento bring a product to market.

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Product management often serves aninter-disciplinary role, bridging gapswithin the company between teams ofdifferent expertise, most notably betweenengineering-oriented teams andbusiness-oriented teams.

For example product managers often

translate business objectives set for aproduct by Marketing or Sales intoengineering requirements.

Conversely they may work to explain thecapabilities and limitations of thefinished product back to Marketing andSales.

Product Managers may also have one ormore direct reports such as a ProductExecutive who can manage operationaltasks or a Change Manager who canoversee new initiatives.