Introduction to Marketing

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Introduction to Marketing
Professor Therese Wilbur
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Marketing is the 4 Ps

• Product
• Price
• Promotion
• Placement

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Marketing is the 3 Cs

• Consumer
• Competition
• Customer

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Trends Make Marketing More Important

• Sophisticated Consumer
• Global Competition
• Market Segmentation
• New Product Development Imperative
• Executive Level CMO

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Marketing Career Paths

• Advertising, Public Relations, Marketing Agency
• Sales, Management Development Programs
• Corporate Marketing
• Consumer Research
• Product/Brand Management
• Entrepreneurs
• ConsultingMarketing Strategy

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Welcome to MKT 446
Practicum in New Product Development Branding
Professor Therese Wilbur
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Course Objectives

• To step into the shoes of a Product Manager and
  lead the development of an actual product from
  concept to prototype.
• To experience the joys and challenges of working
  on a cross-functional product development team.
• To learn and apply the principles of Integrated
  New Product Development (iNPD).

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Course Objectives

• To generate and communicate all consumer,
  competitive, and brand input for their teams.
• To create a comprehensive marketing launch plan
  based on final product definition.

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Whats In It For You

• Team Playing
• Communication
• Creativity

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Whats In It For You

• Opportunity
• Rewarding

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My Background

• Former Senior Director of International
  Marketing, Girls Brands, Mattel, Inc.
• 13 Years Experience
• Introduced 2 NEW product lines/year/brand
• Domestic and International Customers
• 1 Toy/Girls Brand, Category Leader, Barbie
• Responsible for over 2 billion PL
• The Worlds Premier Toy Brands-

Today Tomorrow
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My Background

• Fortune 500 Product Development Brand
  Experience
• Started as Assistant Product Manager
• Led cross-functional teams to develop new
  products and brands
• Girls Portfolio includes 1,000 toys/year
• USC MBA Alum
• The Worlds Premier Toy Brands-

Today Tomorrow
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How Many New Products Fail?
.
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Basic New Product Process
Figure 2.1
Phase 1 Opportunity Identification/Selection
Phase 2 Concept Generation
Phase 3 Concept/Project Evaluation
Phase 4 Development
Phase 5 Launch
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How do you find POGs?
CONSTANT CHANGE
POG
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OLD NPD
Marketing
Design
Engineering
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New NPD iNPD

• Usable
• Manufacturability
• Ergonomics
• Safety Reliability
• Production Cost

• Desirable
• Aesthetics
• Ease of use
• Brand Image
• Lifestyle Image

• Useful
• Functional Features
• Consumer Target Acceptance
• Competitive

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The Conflicting Masters of New Products Management
Figure 1.6