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Product, services and branding strategies

Date post:25-Jan-2015
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A report in Product, services and branding strategies
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  • 1. Product Price Place Promotion

2. Refers to the goods and services offered by the organization. Consumers purchased products because it satisfies one or more of their needs. When consumers are paying, they are not paying for the tangible products, but for the benefit it will provide. Thus, product can be described as a bundle of benefits which marketers offered to the consumer for price. 3. It is anything that can be offered to a mark for attention, acquisition, use, or consumptions and that might satisfy a want or need. 4. Ipod Shuffle Iphone & Ipad 5. Form of product that consist of activities, benefits, or satisfaction offered for sale that are essentially intangible and do not result in ownership of anything. 6. Hotel Service Dermatologist Foot Spa Banking Service 7. Pure tangible goods Physical items that can be touched and seen. 8. Tangible goods with accompanying services - It consists of a tangible good accompanied by one or more services. These types of offering are more dependent on quality and available services such as delivery time, after-sale services, warrantees and guarantees, etc. Refrigerator Car Aircon 9. Hybrid offers consist of equal parts of goods and services. 10. Services with accompanying minor goods It consists of major service along with additional services or supportive goods. 11. Pure Services- represent the highest level of customer contact. 12. Total Customer Experience- Experiences are memorable while some products and services are not. 13. problem-solving service, or core benefit that consumers are really buying when they obtain a product or service. 14. a. Quality Level b. Features c. Design d. Brand Name e. Packaging 15. includes any additional consumer services and benefits built around for the core and actual products. 16. When developing products, marketers must: 1. Identify the core consumer needs that the product will satisfy. 2. Design the actual product. 3. Find ways to augment the product. 17. Consumer Products Industrial Products Marketable Entities 18. bought by final consumers for personal consumption. Convenience Products Shopping Products Specialty Products Unsought Products 19. Consumer products and services that the consumer usually buys frequently, immediately, and with a minimum of comparison and buying effort. They are usually low priced, and marketers place them in many outlets to make them readily available when customers need them. 20. Consumer products that the consumer, in the process of selection and purchase, characteristically compares on such bases as suitability, quality, price, and style. These products are usually distributed through fewer outlets but have deeper sales support. 21. Unique characteristics or brand identification. Buyers do not normally compare specialty products; instead, they only invest the time to reach the outlet that carries the goods. 22. Consumer either does not know about or knows about but does not normally think of buying. These products require a lot of promotional support to be successful. 23. Bought by individuals and organization for further processing or for use of conducting a business. Purpose of purchase is the chief distinction between industrial products and consumer products. Material and parts Capital items Supplies and services 24. Most are sold directly to the industrial users 25. These products aid in the buyers production or operations, including installations and accessory equipment. 26. These could be operational or repair and maintenance. Many of these services are supplied under contract. 27. Are entities other than products and services that marketing covers. Organization marketing Person Marketing Place Marketing Idea Marketing 28. Activities undertaken to create, maintain, or change attitudes and behavior of target audiences towards an organization. A major tool to market organization is corporate image advertising. 29. Activities undertaken to create, maintain or change attitudes or behavior toward particular person. 30. Activities undertaken to create, maintain, or change attitudes towards a particular place. Business Site Marketing Tourism Marketing 31. It is the marketing of social ideas. It includes the design, implementation, and control of programs seeking to increase the acceptability of social idea, cause, or practice within targeted groups. 32. Product Attributes Branding Packaging Labeling Product Support Services 33. Developing a product or service involves defining the benefits that it will offer. 1. Product Quality 2. Product Features 3. Product Style and Design 34. Ability of the product to perform its functions. It has two dimensions: level and consistency. Quality level Performance Quality Product Consistency or Conformance Return on Quality Improve customer satisfaction and value 35. It helps to differentiate the product from those of the competition. 36. Another way to add distinctiveness. It is the process of designing a products style and function. a. Style appearance of a product. b. Design heart of the product. It contributes to the products usefulness as well as its looks. 37. Brand is a name, sign, symbol, or design that identifies the maker or seller of the product or service. 38. Buyer It helps buyers to identify the product that might benefit them. It tells the buyer something about quality and value. 39. Seller Make it easier for the sellers to process order and track down problems. It provide legal protection for unique product features. It promotes loyalty and helps in segmenting markets. 40. Higher brand loyalty Name awareness Perceived quality Strong brand associations Patents, trademarks, channel relationships 41. Powerful brand names command strong consumer preference. It is a very valuable asset. 42. 1. High consumer awareness and loyalty 2. Greater ease in launching brand extensions because of high brand credibility 3. A good defense against fierce price competition 4. Belief in being the companys most enduring asset 43. Brand Name Selection Brand Sponsor Brand Strategy 44. It should suggest something about the products benefits and qualities. It should be easy to pronounce, recognize, and remember. It should be distinctive. 45. It should be extendible. It should translate easily into foreign languages. It should be capable of registration and legal protection. 46. Manufacturer's Brand or National Brand- brand created and owned by the producer of a product or service. Private Brand or distributor or store brand- brand created and owned by a reseller of a product or service. 47. Licensed Brand- company sells it output under another brand name. Co-branding- occurs when two companies go together and manufacture one product. It is the practice of using the established brand names of two different companies on the same product. 48. Advantages Create broader customer appeal and greater brand equity. Allow a company to expand its existing brand into a category it might otherwise have difficulty entering alone. 49. Disadvantages Complex legal contracts and licenses are involve. Coordination efforts are often difficult. Trust is essential between partners. 50. The Battle of the Brands the competition between manufacturer's and private brand. It causes resellers to have advantages, they charge manufacturer's slotting fees. Slotting fees- payments demanded by retailers from producer before they will accept new products and find slots for them on the shelves. 51. 1. Introduce Line-extensions Existing brand names are extended to new forms, sizes, and flavors of an existing product category. a. Meet consumer desires for variety b. Meet excess manufacturing capacity c. Simply command more shelf space 52. 2. Introduce Brand Extension Existing brand names are extended to new or modified product categories. a. They help a company enter new product categories more easily. b. They aid in new product recognition. c. They save on advertising cost. 53. 3. Introduce Multi-brands new brand names are introduce in the same product categories. a. They gave more shelf space. b. They offer several brands to capture brand switchers. c. It helps to develop healthy competition within the organization. d. Each brand can have a separate following. 54. 4. Introduce New Brands - new brand names in new categories are introduced. a. They help move away from a brand that is failing. b. They can get new brands in new categories by corporate acquisitions. c. Weaker brand weeded out and resources are focused achieving number one or two market share position. 55. Is the activity of designing and producing the container or wrapper for a product. Traditionally, packaging decisions are based on cost and production factors. Now, it has promotional value. 56. a. Establish packaging concept b. Decide on specific elements of the package c. Tie together elements to support the positioning and marketing strategy. 57. Part of Packaging and consists of printed information appearing on or with the package. Functions 1. It identifies the product or brand. 2. It describes several things about the product. 3. It promote the product through attractive graphics. 58. There are numerous laws enacted to regulate labeling and protect the public. The aspects of nit pricing, open dating and nutritional labeling have effects on labeling practices. 59. Services that augment actual products. Good customer service is good for business. Monitor customer complaints. Work at designing products that need- less service. 60. Determine the best way to deliver product support services. Set up strong customer service departments. One of the keys to successful internet marketing is to have excellent support services. 61. 1. Survey customers 2. Ass

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