New User Special Price Expires in

Let's log you in.

Sign in with Facebook


Don't have a StudySoup account? Create one here!


Create a StudySoup account

Be part of our community, it's free to join!

Sign up with Facebook


Create your account
By creating an account you agree to StudySoup's terms and conditions and privacy policy

Already have a StudySoup account? Login here

Lec 16

by: Marissa McKinney

Lec 16 MKTG 25010-001

Marissa McKinney
GPA 3.85
Principles of Marketing
Lawrence Marks

Almost Ready


These notes were just uploaded, and will be ready to view shortly.

Purchase these notes here, or revisit this page.

Either way, we'll remind you when they're ready :)

Preview These Notes for FREE

Get a free preview of these Notes, just enter your email below.

Unlock Preview
Unlock Preview

Preview these materials now for free

Why put in your email? Get access to more of this material and other relevant free materials for your school

View Preview

About this Document

Mondays Lecture #16
Principles of Marketing
Lawrence Marks
Class Notes
25 ?




Popular in Principles of Marketing

Popular in Marketing

This 5 page Class Notes was uploaded by Marissa McKinney on Tuesday October 27, 2015. The Class Notes belongs to MKTG 25010-001 at Kent State University taught by Lawrence Marks in Summer 2015. Since its upload, it has received 24 views. For similar materials see Principles of Marketing in Marketing at Kent State University.


Reviews for Lec 16


Report this Material


What is Karma?


Karma is the currency of StudySoup.

You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 10/27/15
a f quot r 26 39 a f upda Colicgi agq hi quota If d 3er f use 1M magMir oliow 39 quotquot39Tl TV ad sgma rhjs 395 w K m 1 quot N Vt 53quot brand be heal slitmag Eb 15d 644 iO a V Hub 39 J I i kw rom m3 ah prwi t L f 39 Cc 8 Chapter 11 s Managing Successful Products Servicesi and Brands I Introduction Starbucks e The Early Years I I V V I Mammug N lengd 0 W7 605139 a Bil 5 hi5 9 h i cove m bdrm quotav Gestumc all male 611 heme l Growth 7 53124513 if I 94 wa f ldwl g location la 5 C39au rii f m M enenin the roduct and brand extensions rl 9435 Opse srtd C Qggre wr cmaaed gelling i i39qg 595F551 39bUU l GIHY li39n l i998 AiSiflbu l E d co icc l1 SUFEFm FMi gifaf bucm it he Cleaned up quotaha 1650 a if and 2 Oquot H 1030 e Starbucks Competition Ch 39d 6250 a l l 5 m H in 1008 e sow mw W U If and his jlrfalrcgu l Spartach C Cnm bacld a MCDcx QHJ Airquot Cl C Gn ipelmg w mclcctl c DW C V39Cb Wm mg Q We 95 OUjrlE39b i39q wd ll The POINT ChangingCOM fr AND 7 Con1p C J vl if REQUIRE marketers to actively and successfully mamg their products and brands lll Product Life Cycle Sales and profits i 391 fang 1 in Sales Prefits 39rr tearCf Product I r development lntrcducftin Growth Maturity Decline masses i investment 1m 123 a The PLC shows the fs dlc demand over an extended period of time for all brands comprising a generic product category lb PLC and profit curves varies from product category to another but above is the It 5m that we often see 0 Note the ncgaaliv39c development costs profits Sales are needed to offset product cl As we move through the PILC we must increase advertising and selling efforts and out prices in face of COW P6 l I Orr e Deciding when to enter a market can IMPACT V rr0 l 0bl Jw l PLC Characteristics and Implications 3 Characteristics b Customers 3 Competition d Sales e Profits 3 Marketing Implications b Overall Strategy 0 Costs d Product Strategy e Pricing Strategy f Distribution Strategy 9 Promotional Strategy Introduction Innovators Little Low None Market Development High per unit Undifferentiated High Scattered Awareness Growth To the masses Increasing Rapid Growth Strong amp then peak Penetration Declining Improved features Lower over time Intensive Brand Preference 124 a Characteristics Maturity Decline b Customers Mass market Loyal Customers c Competition lntense Decreasing d Sales Slow Declining e Profits lDeclining Lovvr none a Marketing implications Overall Strategy Defensive Efficient or exit b Costs Stable Low 0 Product Strategy Differentiated Pruned line dl Pricing Strategy Lowest Increasing e Distribution Strategy Intensive Selective f Promotional Strategy Brand Loyalty Reinforcement g WHY do brands decline i Better or ii The need iii Most competitors abandon the market BUT iv Some can develop small successful niche businesses Length of Product LifeCycle a The PLC diagram suggests that stages are of I n length this may not be accurateoertainly ROW W quot Vang Examples iCCmTSl do Manicm V g lil Muc WILWL V r b Extended introduction stage air microwaves c Fad eganghom store d Indefinite Maturity stage 53mm pmduc 5 a half 5 an ingotstilde mg mg torl SM i e The Product Life Cycle is getting shorter for most products due to i quotamt l39uoquot prade metoo ii Technology advances f The Product Life Cycle can be affected by i The Product Category and Mrs 056 1 Example r Jl quot P Il39rfsl WAS inhe xrlo remove fw nlclu pure m wits 0544 ii Differences in mgkmg gg 125 6 Via h Example mic momalas m Arm us DCYH was CUM more here i Vi Product Life Cycle Management Successful marketers need to do well at 8 Brcdio fl fh mmg 01 the PLC for their product and b Recognize what stage they are in and 77 Qd QPaHH t 7 to it i ISSUES When to enter J 0 Entry Strategies i When is there a Pioneering Advantage iii An imitation strategy may be betterl d Managing on the Rise i loll erasaha tram e Managing During Maturity l immv al lm f Surviving the Decline 7 7 I 7 I H 0 W79 be the 3 Fastquot rm slogs emerges as w is 7 s act 1 During the decline stage firms may Cmg r f in I g a Ensure that marketing and production programs are 6 g 9 61 er 7 7 as possible b Prune rm Vogl39iabE 7 sizes and models which decreases sales but increases profits c Run out the product to squeeze out nal profits or d curl JquotHitters noquot 7 best and toughest route Vll Brands a The word brand is comprehensive b Brands are used both to p39 l m inquot W the seller and to d39 e rc ll739 te the product froin39 competition 0 Brand Name Words letters numbers that can be vocalized i Examples FMquot 1 Vi39CJ mai S rd t39 39 d Brand Mark Symbol design color lettering i Examples Nl LagwlTSlw Ernegox J agitate Pg pm wore mart 3539 jagr Coco iota e Trade Mark The Legal Protection of a brand Companies Protect their Brands i Example f Leading Brands 126


Buy Material

Are you sure you want to buy this material for

25 Karma

Buy Material

BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.


You're already Subscribed!

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

Why people love StudySoup

Steve Martinelli UC Los Angeles

"There's no way I would have passed my Organic Chemistry class this semester without the notes and study guides I got from StudySoup."

Amaris Trozzo George Washington University

"I made $350 in just two days after posting my first study guide."

Bentley McCaw University of Florida

"I was shooting for a perfect 4.0 GPA this semester. Having StudySoup as a study aid was critical to helping me achieve my goal...and I nailed it!"


"Their 'Elite Notetakers' are making over $1,200/month in sales by creating high quality content that helps their classmates in a time of need."

Become an Elite Notetaker and start selling your notes online!

Refund Policy


All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email


StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here:

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.