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Lecture 6-bPOM BBA 2K10
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I ndividual Product and Service Decisions
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I ndividual Product and Service Decisions
Product attributesare the benefits of the
product or service Quality
Features
Style and design
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I ndividual Product and Service Decisions
Quality in terms of the product or service is thelack of defects
Quality in terms of the customer is the value and
satisfaction provided by the product or
service
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I ndividual Product and Service Decisions
Product quality includes level and consistency Quality levelis the level of quality that
supports the products positioning
Performance qualityis the ability of a
product to perform its functions
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I ndividual Product and Service Decisions
Product featuresare a competitive tool fordifferentiating a product from competitorsproducts
Product features are assessed based on thevalue to the customer versus the cost tothe company
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Product style and design add value to
customer valueStyledescribes the appearance of the
product
Design contributes to a products usefulnessas well as to its looks
I ndividual Product and Service Decisions
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Brand is the name, term,sign, or designor a
combination of
thesethat identifies
the maker or seller ofa product or service
I ndividual Product and Service Decisions
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Brand
Name
BrandMark
Brand
Equity
Master
Brand
That part of a brand that can be spoken,
including letters, words, and numbers.
The elements of a brand thatcannot be spoken.
The value of company and brand names.
A brand so dominant that it comes to
mind immediately when a product category,
use, attribute, or benefit is mentioned.
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Baking Soda
Adhesive Bandages
Carpet Cleaner
Gelatin
Soup
Cream Cheese
Crayons
Petroleum Jelly
Arm & Hammer
Band-Aid
Vaccum Cleaner
Jell-O
Lux
Philadelphia
Crayola
Vaseline
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Product
Identification
Repeat Sales
New Product
Sales
Branding
distinguishes
products from
competition
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I ndividual Product and Service Decisions
Packaginginvolves designing and producing thecontainer or wrapper for a product
Labelsidentify the product or brand, describe
attributes, and provide promotion
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Persuasive
Focuses on
promotional
theme
Informational
Helps make properselections
Lowers cognitive
dissonance
Includes use/care
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Contain and Protect
Functions
of
Packaging
Promote
Facilitate Storage, Use,
and Convenience
Facilitate Recycling
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I ndividual Product and Service Decisions
Product support services augment actual products
Companies must continually:
Assess the value of current services to obtainideas for new ones
Assess the costs of providing these services Develop a package of services to satisfy
customers and provide profit to the company
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Product line: A group of products that are closely related
because they function in a similar manner, aresold to the same customer groups, are
marketed through the same types of outlets, orfall within given price ranges.
Product line length: The number of items in a product line
Adjust line length by: Filling
Stretching Downward, upward, or in both directions
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Product mix: The set of all of the product lines and items
that a particular seller offers for sale.
Product mix dimensions include:
Length:the number of items in a line.Width:the number of different product lines
the company carries.
Depth:the number of versions offered of
each product in the line. Consistency:how closely related various
lines are.
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Blades and Writingrazors Toiletries instruments
Mach 3 Series Paper MateSensor Adorn Flair
Trac II Toni
Atra Right Guard
Swivel Silkience
Double-Edge Soft and Dri
Lady Gillette FoamySuper Speed Dry Look
Twin Injector Dry Idea
Techmatic Brush Plus
Width of the product mix
Deptho
fthe
produ
ctlines
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Downward stretch by introducing lower rangeof the products e.g. In 1989 the Shangri-La, a chain of deluxe hotels and resorts
in Asia established the Traders Hotels, a sister brand todeliver high value, mid-range, quality accommodation to the
business traveler
Mercedes introduced the baby Merz to cater to the upperclass mid-sized range of the market
Upward stretch by entering the high end of themarket e.g. Toyota introduced the Lexus and Nissan introduced the
Infiniti
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Two-way stretch by filling the whole line e.g.
Toyota has the Starlet at the lower end; the Corolla
in the executive range; the Camry in the upper-
management range and the Lexus in the luxuryrange