10 Ps of Marketing

1.

Product Discuss and review needs and opportunities pertaining to design, technology,
usefulness, convenience, value, quality, packaging, branding, sizing etc.

2.

Price Discuss price strategies such as cost-plus, loss leader and more. See How to Get Your
Pricing Right. And, discuss potential cost increases (cost of goods, labor, insurance, taxes) and
sales impact.

3.

Place Discuss and review needs and opportunities with regard to retail operations,
wholesale, mail order, internet, direct sales, multi-channel, USA vs. Europe, headquarters etc.

4.

Promotion Review special offers, BOGOs, advertising, endorsements, direct marketing, free
gifts, Groupon etc. See Think and Plan for Christmas in July.

5.

Promise Discuss and review whether or not youre truly delivering on a unique brand
promise. And, if you dont even have one get one.

6.

Positioning Discuss and review ways in which your customers position you (its all about
them and their beliefs not yours), where you want to be positioned (e.g., low cost provider) and
plans to get there.

7.

People Review needs and opportunities regarding culture, employees, interns,

management, customer service etc.

8.

Performance (Proof) Discuss and review ways you can prove your brand promise. Are you
using testimonials, have you won meaningful awards. Success begs Trust how to you prove
your trustworthiness?

9.

Process Discuss and review checklists and critical paths of making things, delivering things,
hiring people. Look for ways to speed up processes and decrease error rates.

10.

POW Discuss and review unique ways to surprise and delight customers that make you
special in their eyes. Work to bulletproof your dramatic difference.

27 P's of Marketing Mix

1. Product
2. Price
3. Promotion
4. Place
5. People
6. Process
7. Physical evidence
8. Purpose
9. Purchaser
10. Push/pull
11. Personal relationships
12. Positioning
13. Packaging
14. Persuasion
15. Performance

16. Profitable
17. Proactive
18. Pull together
19. Perform
20. Permission
21. Pain
22. Pleasure
23. Periodic
24. Persistent
25. Partners
26. Psychology
27. Perceptions

The 44 Ps of Marketing
The four Ps of marketing is a common starting place for planning
marketing. But marketing is much more than your advertisement.
Everything you do is a part of your marketing.
The 44 Ps of marketing is a more comprehensive list of things to
consider when you market anything.

1. Packaging
Packaging is one of the four Ps of marketing. If no one notices your
product, no one will buy it. And if no one wants to buy your product
after seeing it, no on will buy it. Many companies spend millions
in packaging design. And for some huge brands thats a sound
investment.

Whatever you sell, you need to think about the packaging. If you
sell a service, the packaging means the way you and your
employees look, your website, and everything else your customers
see of you before the purchase.

2. Pain
Do your potential customers have fears associated to your
product? In most cases they do, even if they dont know it.
For example people who buy a car fear accidents, high maintenance
costs, pollution, and what the car does to their status. If you dont
know what they fear, you may easily induce fear instead of using it
to your advantage.

3. Pandemic
Is there a reason why people would spread your advertisement or
story? You cannot create an advertisement, which would certainly
go viral. But you should try.
Create something highly valuable or entertaining and people
will gladly spread it. Content marketing is in part so effective
because of this.
A wonderful example is Toyotas Swagger Wagon. Toyota created a
rap music video for a car (Sienna SE), which went viral. At the time
of this writing over a million people had seen it. It wasnt certain
that so many people would see the ad, but it was likely. Its really
entertaining, so why wouldnt you tell your friends about it?

4. Part
This is one of the core aspects of marketing. Whats the part your
product will play in the customers life? If its an important part,
people spend more time thinking about their options; you cant hard
sell a house through advertising. Your marketing has to fit your
product into the part it plays in the minds of your customers.

5. Party
Is there a group of users that form a tribe that customers can join
when they make the purchase? Users discussion forums, private
meetings, or special content?
People want to belong to groups. These groups are often the best
marketing tools you have. They help other members with problems,
and intensify the feeling that you provide something meaningful.

6. Pass-along value
Will the product hold its value? You can of course market and sell
successfully products that are meant for one time use only. But you
need to take this into account.
Resell value is most important in expensive purchases. Im surprised
car manufacturers dont use this to their advantage. Our cars hold
their value better than any other cars. That would make a
difference to me. Would you listen? Unless youre a Rockefeller,
youd probably pay attention.

7. Peers
Are there others using your product? Social proof is maybe the most
effective way to gain trust. Social proof is relatively easy to deliver.
Quotes, pictures, videos, recordings Use an image of the person
who refers the product. It makes the recommendation more
effective.
When you provide social proof, you lend the credibility of that
person to your product. So, a well-known person providing the
recommendation is always better than a nobody. But a nobody is
much better than no social proof at all. It works because people
want the certainty that a decision will pay off. If someone has
already took the risk, and proved it to be worth it, theres more
certainty.

8. Perceptiveness
Intuitive products, especially technological products, are a pleasure
to use. Theres nothing more frustrating than to know you can do
something with a product, but you just dont know how.
Apples computers and iPhones are so popular because of this. They
work, as youd guess them to work, if youd never touched a
computer before.
Theres probably no better example of this than a poor one.
After 9/11 a company decided to create a parachute for such
situations. They were invited to demonstrate the use of the product
in a TV-show. What happened, was that they couldnt figure out how

to put on the parachute. And youre supposed to do it in seconds

when you see a plane coming your way As far as I know, the
product was never released.

9. Personas
This is one of the core ideas of marketing. Marketing should always
be directed to a specific group of people. Specific doesnt
necessarily mean a small group, but a clearly defined group. Unless
you understand who buy from you, you cant target them with your
marketing.
Create buyer personas for each different buyer type. You can then
target your marketing straight to them. Understanding your buyer
personas is detailed in the guide to Premeditated Marketing.

10. Picture
A picture says more than a 1000 words. People notice pictures more
easily than words. Especially close-up pictures of peoples faces
capture our attention. This is why womens magazines nearly always
have a close-up picture of a face on their cover.
To understand a phrase, you need to read it. To understand a
picture, on an intuitive level, you only need to glance at it.
Reading takes time, glancing doesnt. Dont expect people to take
the time to read.

Theres a great rule of thumb for moviemakers, 70% of information

should be conveyed through pictures (the rest with sound). Use the
force of pictures to tell your story whenever possible.

11. Pilot
People want certainty and theres no better way to get certain about
a purchase, than to test the product first. You wouldnt buy a car
without test-driving it first, would you?
The larger the purchase the more important this is, but even the
smallest purchases are easier when you can put your mind at
ease. If, for any reason, you cannot offer a free trial, at least offer a
nearly free trial and a money back guarantee.
AWeber, the email list company, does just that. They charge $1 for
the first month of service. With this they discourage people to sign
up for the service if theyre not serious about the purchase. But with
a 30-day money back guarantee they make the investment
irrelevant.

12. Placebo
A placebo is a fake medicine, given to some patients (without their
knowledge) to test the effects of a real drug. If theres no difference
between results, the real drug doesnt actually work.
You cannot sell a placebo. You might be able to sell it for a while,
but sooner or later youd be caught. And this doesnt apply to

medicines only. Whatever you sell has to be authentic. Your product

has to meet the expectations people give to it.

13. Planning
The most important part of marketing is the research for it.
Understanding your story, your customers, and the general situation
takes time. And most people dont spend enough time planning.
You can spot a poorly planned marketing message instantly if
you know what youre looking for. Its not clear on what its selling,
its not directed to anybody in particular, it doesnt catch your
attention, and so on. Do your planning well, and youre halfway
ready for marketing (check out 25. Premeditation for the next half).

14. Planting
Its said, you believe what you hear/see 10 times. This is
why unnoticed marketing can work. Exposure to a product, brand,
idea, or whatever else, creates familiarity. And when in doubt,
people choose the most familiar option.
To plant an idea into your prospects mind, you need to reach them
through different channels. Whenever you consider using multiple
channels

for

marketing,

consider

your

buyer

personas

carefully; you need to reach the same prospects with all

channels.

15. Playfulness

Youre marketing message doesnt have to be playful. But you do

need to consider the mood of it. An advertisement without emotion
will never work. Using emotion is a necessity.
But which emotion should you use? People walk towards, and
run away. People will generally work harder and more rapidly if
theyre avoiding something bad, than if theyre working to gain
something. But if you associate negative emotions to your product,
no one wants it.
You can use all emotions and moods in marketing. You just need to
understand how your prospects will understand and associate the
emotions.

16. Pleasure
How will your product make the users life happier? People strive for
happiness and they make decisions based on that. Unless they
believe your product will make them happier in some, way for some
reason, they wont buy it.
Sometimes the message is as simple as, Our new pizza tastes
good! Good food and happiness are closely related in our minds.
But in some cases the connection isnt as clear, The new content
management system makes handling projects more efficient. But
still the promise is the same, Buy this product and youll be
happier. (see 21. Positivity).

17. Plot

This is the most important P of marketing. Ive even created

my marketing guidearound this concept. In a sense all other Ps of
marketing are a part of this.
Marketing is storytelling. Nothing more, nothing less. You dont
(and you cant) market a product, service, person, or anything but a
story. Its the story of your product that youre marketing.
The story tells what the product is, what it does, how it feels, is it
good, what kind of a person uses it, and so on. Its much more then
the facts.
You tell your story with your marketing. If people dont believe your
story, they wont buy your product.

18. Politics
A charismatic figure is a good marketing trick. Steve Jobs with his
presentations

sold

more

Macs

than

the

Apple

marketing

department. People want to be lead. A trustworthy leader is more

than social proof. People intuitively believe a leader to have a
positive vision for the future. And they want to follow the leader to
that vision.

19. Porn
People and all other animals survive only as long as they reproduce.
The need for feeling attractive is embedded into us. We avoid
anything that makes us less attractive, and we go to great
lengths to look gorgeous.

Pretty much anything and everything can be marketed with sex.

And

pretty

much

everything is marketed

with

it.

The

few

advertisements that use less-than-perfect-looking models stick out

because of that. But even those ads often sell the feeling of being
attractive.
Consider if users will feel more attractive because of your product. If
thats possible, consider using that in your marketing message. But
you still need to be remarkable enough to be noticed (see 41.
Purple Cow); there are already too many shampoo advertisements
that look alike.

20. Positioning
Positioning is one of the basic four Ps of marketing. It has a couple
of angles to it. First: you must notice a marketing message, to be
affected by it. Second: positioning changes your message.
You wouldnt pay for ad space under a bridge. Theres no one
there to see your message. So, no matter how little you pay for it,
its a waste of your money. At the same time you probably know (at
least you should know) the best places for you marketing. Places
where your potential customers will notice it. And remember that
not all of your customers use the same medias.
Where your message is, affects the message itself. A trusted place
like a newspaper will lend a part of its credibility to your message.
This also works the other way around. Low-trust placement will take
away your messages trustworthiness.

21. Positivity
Leave a feeling of control and positive determination. Even if you
use fear as a motivator, people should feel positive because they
know what to do next (buy your product that will help them).

22. Praises
Reviews work as positive reinforcement for the action the customer
should make. Reviews by trusted sources provide proof for your
story. They take away the feeling of risk thats always present when
you buy something.

23. Prediction
This includes many of the other Ps of marketing. What do you
predict will happen if you buy a product is the most important
question you ask yourself when you decide whether or not to buy
something. Even if youre only thinking about the next 5 minutes,
the prediction determines your decision.

24. Preference
If your potential customers use a competitors product, you need to
convince them to take a risk. People feel safe with a product theyve
used. Theyre unlikely to switch to your product without a very
convincing reason.

You can compare your product to the other one, to illustrate the
differences as well as the similarities. The similarities can turn
your product from unnecessary risk to worth checking out.
You can also go for a more aggressive approach. Break your
competitors product. Obviously Im not suggesting vandalism. Break
the competitive product, like email is breaking fax. Either make a
product so superior that people will voluntarily make the switch, or
if youre a cell phone operator you could get the iPhone exclusively.
That would break AT&T for many people.

25. Premeditation
No body can ever guarantee the success of a marketing campaign.
But premeditation will make the success much more likely.
Before you ever launch your campaign you should become the
devils advocate. Look closely at all the aspects of your campaign. If
theres anything you havent considered, do so before you start to
market your product.

26. Press
Social media is the press of the 21st century. If you want your
marketing to work, you need consider how to tie it to social media.
Competitions, giveaways, etc. are all great ways to engage people
through social media.

27. Pressure

Create a sense of urgency. People are reluctant to act, and the

longer they wait the less likely the action becomes. Time-sensitive
offers are just one way to create urgency.
Another effective way to create pressure is to appeal to peoples
sense of status. Be the first, Your friends already do it, If
youre smart, youll You can use this egoistic side of people, to
create pressure.

28. Preview
The purpose of marketing is to have your potential customers
imagining themselves using your product. If they create this
preview in their heads, youre a lot closer to getting a lead.
This is another reason why you should use pictures in marketing.
Its easier to create a mental picture based on pictures, than words.
This is also a very powerful sales technique: have the prospect
imagine using the product, and have them describe how it feels.
In

both

cases,

they

get

the

good

feeling

of

having

your

product. Deciding not to buy after that experience, feels like

they lose something.

29. Pricing
Pricing is one of the basic four Ps of marketing. Understanding what
people are willing to pay for your product is essential. Even if you
nail every other P of marketing, the pricing can screw up the whole
thing.

A low price lessens the products perceived value. It can even

lower the perceived value below what youd expect from a free gift.
But if your product is too expensive for your customers, they wont
buy it. When a customer is choosing between two products with
near identical qualities, pricing becomes very important. And the
cheaper one usually leaves the shelf.

30. Priest
Nothing has ever been marketed as well as religions. The reason
religions have succeeded so well, is the understanding of their
audiences worldview. Priests, prophets, cult leaders, and all
spiritual leaders fit their words into the beliefs their listeners hold.
Changing the worldviews of your audience is extremely difficult. It
takes too much time and resources for most companies. Instead of
changing the beliefs, shape your message to fit the beliefs your
audience holds. This is one of the concepts discussed in my free
marketing guide.

31. Prince
Like the small girls who dream of a prince who comes to pick them
up, all people dream about something. A product that answers a
common dream will succeed.
You might dream about status: a BMW can answer that dream. It
could be about your family: a travel agency can fulfill that one with
a family holiday. Or maybe you dream of the perfect music

experience: many hi-fi sound companies attempt to turn that dream

into reality. You need to know the dream youre fulfilling.

32. Principles
People have their own principles. And they generally hold on to
them

tightly. Your

marketing

message

cannot

oppose

these

principles. Instead you can use the principles to your advantage.

You like your principles and you like others who share the same
ones. This applies to products as well as people. You like products
that reinforce your principles or at least work in accordance with
them.

33. Product
The product is yet another one of the basic four Ps of marketing. A
great product is much easier to market for several reasons. There
are more good things to market. It will create word of mouth
marketing. It will exceed customers expectations. And so on.

34. Production
Ethical and ecological factors are becoming more and more
important. If your product has any positive ecological or ethical
ideologies, production methods, or aspirations, you should mention
it. These things arent important to everybody, but a growing
number of people make their decisions based on these factors.

35. Prominence

Marketing needs observers, people to be affected. If your marketing

message isnt displayed prominently enough, it will fail. Youre most
likely to notice something when you want to notice it. Features in
newspapers, blogs, radio, TV, and other medias are therefor much
more effective than paid advertising placements.
People have learnt to avoid paying attention to advertising.
Content marketing is becoming more important because of that.
Provide useful content as your marketing material, and people will
not only pay attention to your marketing but even search for it.

36. Promises
A purchase is always a risk. You as the marketer should do
whatever you can to make purchasing your product seem less risky.
A specific and simple to understand promise creates the most
certainty for the customer. Say something like, It will last at least 5
years, no matter how you use it. Not even 5 year guarantee
creates the same certainty, even if it means the same thing.

37. Proof
The reason many advertisements for medicines present doctors, is
the authority and trust they create. People trust doctors when it
comes to medicines. Use a trusted expert or a scientific study to
demonstrate your

products features, and hardly anyone will

question the trustworthiness.

38. Properties

Some product properties are always necessary for a customer. If

any of these properties is missing, you cant make the sale. Identify
what are the most important properties for your target audience.
Then make sure that these properties, or at least the ones that
arent absolutely obvious, are presented in your marketing.

39. Prosperousness
People are very aware of their perceived status. Theyll go to
great lengths to defend their status. Marketing should make an
implied promise of a status increase. With some products (cars,
clothing, jewelry), the status aspect is obvious. But all products
affect the feeling of status in some way.

40. Protection
Another way to make the risk of a purchase seem less intimidating
is to promise help. For example you could effectively market a
computer with the promise of customer service. Convey the idea
that if anything goes wrong, someone will be there to help.

41. Purple Cow

Seth Godins book Purple Cow is about being remarkable. If youve
seen a thousand cows, you think theyre boring. But if you then see
a purple cow, its interesting. You need to get people interested,
otherwise no one will buy your product. There are always many
ways you can be remarkable. Your specialty can be something about
your product or your marketing, as long as it gets you noticed.

42. Purpose
Why do people do charity work? They do it because of the purpose
the work gives them. They feel theyre a part of something
bigger than themselves. But giving purpose isnt reserved for
charities. You can easily market an ecological product with the
feeling of purpose, This book is printed on recycled paper that
saves natural resources. You could just as easily use ethical or
political reasons.

43. Push
Your marketing should always push people into taking action. You
can successfully create the desire, but still fail at creating action.
Ideally you create enough push with the other Ps of marketing. But
some things create push more than anything else. You could for
example show people buying the product (also social proof), or
provide a map to the nearest store that sells your product.

Product Life Cycle Stages

As consumers, we buy millions of products

every year. And just like us, these products have a life cycle. Older, long-established products eventually

become less popular, while in contrast, the demand for new, more modern goods usually increases quite
rapidly after they are launched.
Because most companies understand the different product life cycle stages, and that the products they
sell all have a limited lifespan, the majority of them will invest heavily in new product development in order
to make sure that their businesses continue to grow.

Product Life Cycle Stages Explained

The product life cycle has 4 very clearly defined stages, each with its own characteristics that mean
different things for business that are trying to manage the life cycle of their particular products.
Introduction Stage This stage of the cycle could be the most expensive for a company launching a
new product. The size of the market for the product is small, which means sales are low, although they
will be increasing. On the other hand, the cost of things like research and development, consumer testing,
and the marketing needed to launch the product can be very high, especially if its a competitive sector.
Growth Stage The growth stage is typically characterized by a strong growth in sales and profits, and
because the company can start to benefit from economies of scale in production, the profit margins, as
well as the overall amount of profit, will increase. This makes it possible for businesses to invest more
money in the promotional activity to maximize the potential of this growth stage.
Maturity Stage During the maturity stage, the product is established and the aim for the manufacturer
is now to maintain the market share they have built up. This is probably the most competitive time for
most products and businesses need to invest wisely in any marketing they undertake. They also need to
consider any product modifications or improvements to the production process which might give them a
competitive advantage.
Decline Stage Eventually, the market for a product will start to shrink, and this is whats known as the
decline stage. This shrinkage could be due to the market becoming saturated (i.e. all the customers who
will buy the product have already purchased it), or because the consumers are switching to a different
type of product. While this decline may be inevitable, it may still be possible for companies to make some
profit by switching to less-expensive production methods and cheaper markets.

Product Life Cycle Examples

Its possible to provide examples of various products to illustrate the different stages of the product life
cycle more clearly. Here is the example of watching recorded television and the various stages of each
method:
1.

Introduction - 3D TVs

2.

Growth - Blueray discs/DVR

3.

Maturity - DVD

4.

Decline - Video cassette

The idea of the product life cycle has been around for some time, and it is an important principle
manufacturers need to understand in order to make a profit and stay in business.
However, the key to successful manufacturing is not just understanding this life cycle, but also proactively
managing products throughout their lifetime, applying the appropriate resources and sales and marketing
strategies, depending on what stage products are at in the cycle.

Product Life Cycle Examples

flickr/Valeriana Solaris

Most consumers probably arent aware of the product life cycle stages. Even though they make a conscious decision
to switch from one product to another, this is more due to personal taste or simply wanting the have the latest and
best, rather than an appreciation of which stage of its life cycle a product may be going through.
But if you look at the trends in key markets over the last couple of decades, even just the last few years, consumer
demand for particular products can provide some very good product life cycle examples.

Product Life Cycle Examples

The traditional product life cycle curve is broken up into four key stages. Products first go through the Introduction
stage, before passing into the Growth stage. Next comes Maturity until eventually the product will enter the Decline
stage. These examples illustrate these stages for particular markets in more detail.

3D Televisions: 3D may have been around for a few decades, but only after considerable investment from
broadcasters and technology companies are 3D TVs available for the home, providing a good example of a
product that is in the Introduction Stage.

Blue Ray Players: With advanced technology delivering the very best viewing experience, Blue Ray
equipment is currently enjoying the steady increase in sales thats typical of the Growth Stage.

DVD Players: Introduced a number of years ago, manufacturers that make DVDs, and the equipment
needed to play them, have established a strong market share. However, they still have to deal with the challenges
from other technologies that are characteristic of the Maturity Stage.

Video Recorders: While it is still possible to purchase VCRs this is a product that is definitely in the Decline
Stage, as its become easier and cheaper for consumers to switch to the other, more modern formats.

Another example within the consumer electronics sector also shows the emergence and growth of new technologies,
and what could be the beginning of the end for those that have been around for some time.

Holographic Projection: Only recently introduced into the market, holographic projection technology allows
consumers to turn any flat surface into a touchscreen interface. With a huge investment in research and
development, and high prices that will only appeal to early adopters, this is another good example of the first
stage of the cycle.

Tablet PCs: There are a growing number of tablet PCs for consumers to choose from, as this product
passes through the Growth stage of the cycle and more competitors start to come into a market that really
developed after the launch of Apples iPad.

Laptops: Laptop computers have been around for a number of years, but more advanced components, as
well as diverse features that appeal to different segments of the market, will help to sustain this product as it
passes through the Maturity stage.

Typewriters: Typewriters, and even electronic word processors, have very limited functionality. With
consumers demanding a lot more from the electronic equipment they buy, typewriters are a product that is
passing through the final stage of the product life cycle.

While its usually left up to the manufacturers and their marketers to worry about Product Life Cycle Management and
what implications the different stages might have for their business, considering actual products is a good way to
show consumers the part they play in this life cycle.

Product Life Cycle Challenges

The Product Life Cycle Curve is a popular marketing

model that provides manufacturers with an understanding of how they can expect their products to
perform throughout their lifetime. However, it isnt without is critics, with some arguing that there are a
number of challenges with the well-recognized illustration of a products lifespan, and companies need to
take these into account when using the model as part of their decision-making process.

The Product Life Cycle Curve

To understand the challenges of using the Product Life Cycle Curve, it makes sense to look at it in a little
more detail. The curve is a simple illustration that plots sales against time, providing a general picture of
how a product is likely to perform through the four product life cycle stages rising through the

Introduction and Growth stages, before peaking in the Maturity stage, and eventually falling off during the
Decline stage. Adaptations of the model also plot the level of profit as a second curve, which is often
useful for highlighting the considerable investment and negative profits that are made in the first stage of
the cycle.

What You Need to Bear in Mind

As a model, the curve provides a good approximation of the sales and profits that can be expected as
products pass through the four stages of the typical life cycle. However, there are a few things to bear in
mind when trying to apply theProduct Life Cycle Curve in the real world.
1.

Unpredictability: While a products life may be limited, it is very hard for manufacturers to
predict exactly how long it is likely to be, especially during the new product development phase. While
most manufacturers are very good at making the best decisions based on the information they have,
consumer demand can be unpredictable, which means they dont always get it right.

2.

Change: The unpredictability of a products life span comes from the fact that all the factors that
influence the product life cycle are constantly changing. For example, changes in the cost of
production or a fall in consumer demand due to the launch of alternative products, could significantly
alter the duration of the different product life cycle stages.

3.

The Curve is a Model: Critics of the product life cycle have claimed that some manufacturers
may place too much importance on the suggestions the model makes, so that it eventually becomes
self-fulfilling. To illustrate the point, if a company uses the product life cycle curve as a basis for its
decisions, a decrease in sales may lead them to believe their product is entering the Decline stage
and therefore spend less on promoting it, when the opposite strategy could help them to capture more
market share and actually increase sales again.

While the Product Life Cycle Curve needs to be applied with a certain amount of care, and manufacturers
are unlikely to rely solely on its simple illustration to predict their sales and profits, it is still a useful tool.
With a general appreciation of the kind of challenges that will be faced during each of the four stages, the
model provides businesses and their marketing departments with the opportunity to be plan ahead and be
better prepared to meet those challenges.

8 Important Limitations of Product Life

Cycle Concept
Important Limitations of Product Life Cycle Concept are given below:
1. First, All products follow PLC. But PLC varies a lot, but many researchers apply it
without any distinction. It is different for different types of products. It may be possible

that product may not go beyond introduction stage and in that case PLC Curve is likely
to be a dreamer curve. If the product is instantly successful, then the curve may be
contagion curve. The movies like Dabang, Ra-one, Agnipath captured the market in this
style. When a product rises fast and decline at the same speed, the curve will be called
Fad curve.
2. Second, it appears that life comes to an end with decline, but there are examples
when after decline the product may have found new popularity and rejuvenation. Yoga,
nature food, and honey come into this category.
3. Third, historical data doesnt help to identify when a product moves from one stage to
another. It makes the task of forecasting difficult.
4. Fourth, the model worked well when the environment was relatively stable, not
subject to uncertainty as it is today.
5. Fifth, Reality seldom conforms to theory. Marketing executives believe in the PLC
concept but streetwise marketers point out unusual circumstances might interfere with
expected life cycle behaviour. It may result in different shape of PLC.
6. Sixth, the life cycle of a product is dependent on sales to consumers. All consumers
do not buy in the introductory stage. Some people buy early, others buy after their
friends have bought. For any product to be successful it must be bought by early
adopters.
7. Seventh, PLC is a metaphor. Products are not organic, and as such dont have to die.
8. Eighth, the length of a product-category life cycles tend to be longer than the
individual brand life cycles. A movie may be not live a long life, but movie category is
more than a century old

Benefits Of The PLC Model Managers are always in need of predictive

tools to help them navigate a seemingly chaotic market, and the PLC model
gives managers the ability to forecast product directions on a macro level, and
plan for timely execution of relevant competitive moves. Coupled with actual
sales data, the PLC model can also be used as an explanatory tool in
facilitating an understanding of past and future sales progression. The PLC

model aids in making sense of past events as part of any extrapolatory and
interpretive approach to building strategy. Once a product strategy or product
line strategy has been formulated, the PLC model can be used as part of an
ongoing strategy validation process since it reflects on market trends,
customer issues and technological advancement. Companies always anticipate
the emergence of new competitors and therefore, must prepare in advance to
battle the competition and strengthen their products position.
The PLC model is advantages in planning long-term offensive marketing
strategies, particularly when markets and economies are stable. Nevertheless,
most products die and once products are dead they hold no substantial
revenue potential and are a toll on a companys resources. By combining the
elements of time, sales volume and notion of evolutionary stages, the PLC
model helps determine when reasonable to eliminate dead products

BRANDING AND PACKAGING FOR THE GLOBALIZED

MARKET
Posted: October 18, 2013 by
Package Design Reader Darshan Vartak

Product branding and packaging decisions are very important decisions as

in the present age of globalization, a large number of brands of various
products are available to the consumer to choose and select from. As all
brands are not equally liked by a consumer and he selects his brand after
a careful analysis of a number of factors associated not only with the
product but also the manufacturer, the brand name, the packaging, the
price, the contents and also the various other factors.
The marketers of all the competitive brands of a product try to reach to
the consumers by the means of marketing communications and appeal
them to buy their brand. For making the consumers to take favorable
decisions for their products, the marketers need to build strong brands
and nourish them overtime so that its market strength is not deteriorated
on account of introduction of equally competitive brands by their existing
competitors or by the entry of an altogether a new brand with attractive
product features including appealing packaging.

The marketers therefore need to continuously undertake research and

developmental activities to keep intact the brand image. In order to
ensure that the other brands of washing power do not erode the market
share of their brand surf, Hindustan Lever Limited has been taking very
cautious measures from time to time about this brand and its packaging.
Product Branding
Branding is personalizing the product by giving it a name. Just as all of us
have been given names to have our unique identity in the society,
similarity the companies give unique brand names for their products to
facilitate their distinction from the competitors brands.
The word brand owes it origin to the Norwegian word brandr which
means to burn. The farmers, there, used to put some identification marks
on the body of their livestock to distinguish their possession. Therefore,
the marketers taking clues from it, resorted to branding, in order to
distinguish their offerings from the similar products and services provided
by their competitors.
Branding with benefits accruing to the consumer is particularly effective
as such a brand name would make a product appear as if it had some
added value. When placed alongside a competitor offering an identical
product, a benefit-based name positions itself above the competition in
the consumers mind. As a result, the name will register quickly when
people make their buying decisions. However there is no one magic
formula that can be applied to quickly and efficiently generate a brand
name.
The right name has to be the product of a carefully prepared strategic
brief, showing creativity, selected with a lot of linguistic and cultural
research. A good name is an incredibly valuable asset. Naming, in todays
global market, has evolved into a complex creative process and is also
subjected to stringent legal checks.
Creating Brands
For launching new brands and for repositioning existing ones in the
contemporary competition driven market demand, an abundance of
customer loyalty is required to optimize marketing expenditure.
For new brands, the task of designing the brand experience requires
creativity to differentiate the brand is unusual ways in the market place.
For existing brands, the task includes decision making about which
features, look and feel, and messages should be kept, which should be
dropped and which should be changed. All this is required to be done

before the brand re-launching is to be undertaken. This is also sometimes

called brand dressing.
Overall it can be summed that for making a stable position in the mindset
of the consumers and hence the market, a new brand requires creativity
to differentiate while an existing brand relies on innovations undertaken
to enhance the brands market image.
Important Considerations for Branding
The following considerations should be made before making a final choice
of brand name in order to make it more effective.

It should be catchy and easy to recall.

It should be easy to pronounce.

It should have a distinctive appeal.

It should suggest product benefit.

It should not infringe on existing registered brand names.

It should be such that it can be registered as a trade mark*.

(* A trade mark is a brand registered under the law).

A brand can be any of the following:
a)

Companys name (e.g. Cadbury chocolates).

b)

Products name (Nescafe)

c)

Symbols (e.g. Symbol of Maharaja in case of Air India).

d)

Letters generally standing for companys name e.g. ICICI.

e)

Names or figures unrelated to the product e.g. classic.

f)

Manufacturers family name e.g. Godrej.

Through their meaning and sound, names project the personality of a

product and should communicate to customers, the quality, integrity and
strength of what they represent. As brand names are the first public act of
interaction of a company with the potential customers, these can prove
out to be assets of enormous value.

Kinds of Brands: The brands of the following kinds.

a)

National Brands

b)

Individual Brands

c)

Blanket Brands

d)

Multiple Brands

e)

Private Brands

National Brand
A national brand is a manufacturers brand. A successful national brand
builds not only the image of the product, it builds also the image of the
company. A successful national brand is a great help to a company in
introducing new products in future. A disadvantage of the national brand
is that if one product fails, it also badly affects the other products of the
company. Besides this, creating a national brand is expensive.
Individual Brand
An individual brand means that each product of a company has an
individual brand name. It has the advantage of highlighting the benefits of
the individual product. It has the further advantage that if an individual
brand flops, it does not hurt the other products. Individual brand is
however an expensive proposition. Hindustan Lever, HMT etc., have been
following this method of giving different names to each of their products.
Blanket Brand
A blanket brand is one brand which covers all the products of a company.
It is usually the companys or the manufacturers family name. This
practice is also called family branding or umbrella branding. It has the
same advantages as well as the disadvantages of a national brand.
Multiple Brand
A multiple brand gives different names to the same product having only
minor differences. The idea is to appeal to different segments of the
market and have a larger market share. But the customers often see it as
a trick, not a fair play, and they lose faith in the company.
Private Brand
Sometimes, mainly for reasons of cost-saving, the manufacturer hands
over the responsibility of branding to the distributor. A private brand is, in
fact, the distributors brand. It can be highly successful. The
manufacturer, however, cannot get all the benefits which accrue from it.

Trademarks
Popular brands are many times imitated. A trademark is a legal right of a
firm to protect a brand name or brand mark by getting their brands
registered at the patent office. It confers the proprietor a statutory right to
exclusive use of that mark or name. It is meant to safeguard against ditto
imitation.
Benefits of Branding
Establishing a brand involves a good deal of expenses on advertising and
promotion. But once established, a brand has several advantages to offer.
If a brand is properly nourished, it grows and has a long shelf life.
a)
A brand serves as a guarantee for quality and creates
confidence among the consumers.
b)
A branded product acquires a special identity and appeal.
The customer finds easy to select and buy.
c)
The greatest advantage, however, comes from the product
differentiation it creates. Once that is done, the product can compete on a
non-price basis.
Testing Brand Names
There is no fool proof method for testing brand names but the following
are some important considerations which may prove useful in building a
successful brand name.
The selected brand name should be:
(i) Emotional; (ii) Stick to the brain; (iii) Have personality; (iv) Have depth
Overall, while the brand name is very important, a brand cannot survive
on its name alone. The brand name and its execution are equally
important for a successful and sustained brand life. Further, also it is not
enough to have a winner brand, in order to stay ahead, the brand must
also live up to its promise better than anyone else.
Brand Loyalty
Brand loyalty is the measurement of the attitude or the behavior of the
consumer for a particular brand. In other words, it is the intentions of the
buyers to make a repeated purchase of a product on account of the
previous experiences from the consumption of that brand. Higher loyalty
to a brand is an important asset. It can be utilized to persuade customers
for more purchase or for spreading word of mouth. Loyalty provides fewer
reasons for consumers to engage in extended information search among

alternatives. Purchase decisions based on loyalty may become simplified

and even habitual in nature which may be out of the satisfaction with the
brands being used presently. A base of loyal customers will be
advantageous for an organization as it reduces the marketing cost of
doing business.
Interest in loyalty in the field of marketing dates back to 1923. Since then
the concept of loyalty has been subjected to intense discussion in
marketing literature and numerous empirical studies have been
conducted with a view to explain this concept.
A large number of loyal customers are an asset for any brand and this
phenomenon has been identified as major determinant of brand equity.
Loyalty provides fewer reasons for consumers to engage in extended
information search among alternatives as purchase decisions based on
loyalty may become simplified and even habitual in nature and this may
be a result of satisfaction with the current brands. A base of loyal
customers will also be advantageous for an organization as it reduces the
marketing cost of doing business. The brand loyal customers repeatedly
buy the same brand until they are compelled by the strong market forces
by offering them a certainly better product which they perceive to be
worthy enough to buy shifting from the loyal brand.