MBA 926-18 Product and Brand Management
Course Objective: To create understanding among students for concepts, process, techniques of product and management. The course also aims to familiarize students with the concept of a ‘brand’, the role of branding in marketing strategy; brand equity, its importance and measurement, how to create and retain brand equity; operational aspects of brand management.
Course Outcomes: After studying this course, the students should be able to:
CO1: Understand what a product is, the various levels which make it up, and different types of products.
CO2: Examine various challenges and issues involved in product planning and development.
CO3: Discuss and apply the concepts of test marketing and market entry of a product.
CO4: Recognize the features and importance of a brand and conduct branding research.
CO5: Understand the concept of brand loyalty and measuring brand performance.
CO6: Describe the role of various branding strategies in brand equity management.
Unit I
Product management: meaning, importance of the product manager’s job, planning and control systems for product management, product portfolio planning and analysis, Mapping, understanding company product/brands and competitive brand market position, Impact of global forces on products.
Unit II
Product planning and development: Meaning, objectives, Strategic reasons, processes challenges and issues, Forecasting demand, Estimating market opportunity, test marketing, types, design issues, Evaluation of test marketing results, Market entry decisions - Launching new product programs, National launching of new products, Tracking the launch, absorbing the new product in the mix.
Unit III
Basic understanding of brands: concepts and process, significance of a brand, brand mark and trade mark, Different types of brand: family brand, individual brand, private brand, Co-branding, selecting a brand name. Functions of a brand: branding decisions, influencing factors. Understanding customer-cased
brand equity. Monitoring brand performance. Branding research: Designing and implementing branding research, Brand design and structures.
Unit IV
Brand loyalty: loyalty programs, Building strong brands. Measuring brand performance, Brand extensions. Brand Equity Management: Brand Equity Measurement, Brand Leverage, Global Branding strategies, Brand Audit, Role of Brand Manager, Branding challenges & opportunities. Brand rejuvenation and re-launch, brand development through acquisition takes over and merger, relaunching the brand, need, methods and success rate
Note: Relevant Case Studies should be discussed in class.
