Chapter 11 Setting Product and  Brand Strategy PowerPoint by Karen E. James Louisiana State University - Shreveport
Objectives <ul><li>Identify the various characteristics of products. </li></ul><ul><li>Learn how companies build and manag...
What is a Product? <ul><li>Goods </li></ul><ul><li>Services </li></ul><ul><li>Experiences </li></ul><ul><li>Events </li></...
The Product and Product Mix <ul><li>Potential customers judge product offerings according to three elements: </li></ul><ul...
The Product and Product Mix <ul><li>The customer value hierarchy: </li></ul><ul><ul><li>Core benefit </li></ul></ul><ul><u...
The Product and Product Mix <ul><li>Product </li></ul><ul><li>Classifications </li></ul><ul><li>Durability and tangibility...
The Product and Product Mix <ul><li>Product </li></ul><ul><li>Classifications </li></ul><ul><li>Durability and tangibility...
The Product and Product Mix <ul><li>Product </li></ul><ul><li>Classifications </li></ul><ul><li>Durability and tangibility...
The Product and Product Mix <ul><li>Product mix dimensions: </li></ul><ul><ul><li>Width:  number of product lines </li></u...
Product-Line Decisions <ul><li>Product-Line Analysis </li></ul><ul><li>Product-Line Length </li></ul><ul><li>Product-Line ...
Brand Decisions <ul><li>The AMA definition of a brand: </li></ul><ul><ul><li>“A name, term, sign, symbol, or design, or a ...
Brand Decisions <ul><li>Brands can convey six levels of meaning: </li></ul><ul><ul><li>Attributes </li></ul></ul><ul><ul><...
Brand Decisions <ul><li>Brand identity decisions include: </li></ul><ul><ul><li>Name </li></ul></ul><ul><ul><li>Logo </li>...
Brand Decisions <ul><li>Marketers should attempt to create or facilitate  awareness ,  acceptability ,  preference , and  ...
Brand Decisions <ul><li>Aaker identified five levels of customer attitudes toward brands: </li></ul><ul><ul><li>Will chang...
Brand Decisions <ul><li>Brand equity  refers to the positive differential effect that a brand name has on customers. </li>...
Brand Decisions <ul><li>Key Challenges </li></ul><ul><li>To brand or not </li></ul><ul><li>Brand sponsor </li></ul><ul><li...
Brand Decisions <ul><li>Key Challenges </li></ul><ul><li>To brand or not </li></ul><ul><li>Brand sponsor </li></ul><ul><li...
Brand Decisions <ul><li>Key Challenges </li></ul><ul><li>To brand or not </li></ul><ul><li>Brand sponsor </li></ul><ul><li...
Brand Decisions <ul><li>Key Challenges </li></ul><ul><li>To brand or not </li></ul><ul><li>Brand sponsor </li></ul><ul><li...
Brand Decisions <ul><li>Key Challenges </li></ul><ul><li>To brand or not </li></ul><ul><li>Brand sponsor </li></ul><ul><li...
Packaging and Labeling <ul><li>Packaging includes: </li></ul><ul><ul><li>The primary package </li></ul></ul><ul><ul><li>Th...
Packaging and Labeling <ul><li>Developing an effective package: </li></ul><ul><ul><li>Determine the packaging concept </li...
Packaging and Labeling <ul><li>Labeling functions: </li></ul><ul><ul><li>Identifies the product or brand </li></ul></ul><u...
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Setting Product and Brand Strategy

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Setting Product and Brand Strategy

  1. 1. Chapter 11 Setting Product and Brand Strategy PowerPoint by Karen E. James Louisiana State University - Shreveport
  2. 2. Objectives <ul><li>Identify the various characteristics of products. </li></ul><ul><li>Learn how companies build and manage product lines and mixes. </li></ul><ul><li>Understand how companies make better brand decisions. </li></ul><ul><li>Comprehend how packaging and labeling can be used as marketing tools. </li></ul>
  3. 3. What is a Product? <ul><li>Goods </li></ul><ul><li>Services </li></ul><ul><li>Experiences </li></ul><ul><li>Events </li></ul><ul><li>Persons </li></ul><ul><li>Places </li></ul><ul><li>Properties </li></ul><ul><li>Organizations </li></ul><ul><li>Information </li></ul><ul><li>Ideas </li></ul>
  4. 4. The Product and Product Mix <ul><li>Potential customers judge product offerings according to three elements: </li></ul><ul><ul><li>Product features and quality </li></ul></ul><ul><ul><li>Services mix and quality </li></ul></ul><ul><ul><li>Value-based prices </li></ul></ul>
  5. 5. The Product and Product Mix <ul><li>The customer value hierarchy: </li></ul><ul><ul><li>Core benefit </li></ul></ul><ul><ul><li>Basic product </li></ul></ul><ul><ul><li>Expected product </li></ul></ul><ul><ul><li>Augmented product </li></ul></ul><ul><ul><li>Potential product </li></ul></ul>
  6. 6. The Product and Product Mix <ul><li>Product </li></ul><ul><li>Classifications </li></ul><ul><li>Durability and tangibility </li></ul><ul><li>Consumer goods </li></ul><ul><li>Industrial goods </li></ul><ul><li>Nondurable </li></ul><ul><ul><li>Tangible </li></ul></ul><ul><ul><li>Rapidly consumed </li></ul></ul><ul><ul><li>Example: Milk </li></ul></ul><ul><li>Durable </li></ul><ul><ul><li>Tangible </li></ul></ul><ul><ul><li>Lasts a long time </li></ul></ul><ul><ul><li>Example: Oven </li></ul></ul><ul><li>Services </li></ul><ul><ul><li>Intangible </li></ul></ul><ul><ul><li>Example: Tax preparation </li></ul></ul>
  7. 7. The Product and Product Mix <ul><li>Product </li></ul><ul><li>Classifications </li></ul><ul><li>Durability and tangibility </li></ul><ul><li>Consumer goods </li></ul><ul><li>Industrial goods </li></ul><ul><li>Classified by shopping habits: </li></ul><ul><ul><li>Convenience goods </li></ul></ul><ul><ul><li>Shopping goods </li></ul></ul><ul><ul><li>Specialty goods </li></ul></ul><ul><ul><li>Unsought goods </li></ul></ul>
  8. 8. The Product and Product Mix <ul><li>Product </li></ul><ul><li>Classifications </li></ul><ul><li>Durability and tangibility </li></ul><ul><li>Consumer goods </li></ul><ul><li>Industrial goods </li></ul><ul><li>Materials and parts </li></ul><ul><ul><li>Farm products </li></ul></ul><ul><ul><li>Natural products </li></ul></ul><ul><ul><li>Component materials </li></ul></ul><ul><ul><li>Component parts </li></ul></ul><ul><li>Capital items </li></ul><ul><ul><li>Installations </li></ul></ul><ul><ul><li>Equipment </li></ul></ul><ul><li>Supplies and business services </li></ul><ul><ul><li>Maintenance and repair </li></ul></ul><ul><ul><li>Advisory services </li></ul></ul>
  9. 9. The Product and Product Mix <ul><li>Product mix dimensions: </li></ul><ul><ul><li>Width: number of product lines </li></ul></ul><ul><ul><li>Length: total number of items in mix </li></ul></ul><ul><ul><li>Depth: number of product variants </li></ul></ul><ul><ul><li>Consistency: degree to which product lines are related </li></ul></ul>
  10. 10. Product-Line Decisions <ul><li>Product-Line Analysis </li></ul><ul><li>Product-Line Length </li></ul><ul><li>Product-Line Modernization, Featuring, and Pruning </li></ul>
  11. 11. Brand Decisions <ul><li>The AMA definition of a brand: </li></ul><ul><ul><li>“A name, term, sign, symbol, or design, or a combination of these, intended to identify the goods or services of one seller or group of sellers and to differentiate them from the competition.” </li></ul></ul>
  12. 12. Brand Decisions <ul><li>Brands can convey six levels of meaning: </li></ul><ul><ul><li>Attributes </li></ul></ul><ul><ul><li>Benefits </li></ul></ul><ul><ul><li>Values </li></ul></ul><ul><ul><li>Culture </li></ul></ul><ul><ul><li>Personality </li></ul></ul><ul><ul><li>User </li></ul></ul>
  13. 13. Brand Decisions <ul><li>Brand identity decisions include: </li></ul><ul><ul><li>Name </li></ul></ul><ul><ul><li>Logo </li></ul></ul><ul><ul><li>Colors </li></ul></ul><ul><ul><li>Tagline </li></ul></ul><ul><ul><li>Symbol </li></ul></ul><ul><li>Consumer experiences create brand bonding, brand advertising does not. </li></ul>
  14. 14. Brand Decisions <ul><li>Marketers should attempt to create or facilitate awareness , acceptability , preference , and loyalty among consumers. </li></ul><ul><li>Valuable and powerful brands enjoy high levels of brand loyalty. </li></ul>
  15. 15. Brand Decisions <ul><li>Aaker identified five levels of customer attitudes toward brands: </li></ul><ul><ul><li>Will change brands, especially for price. No brand loyalty. </li></ul></ul><ul><ul><li>Satisfied -- has no reason to change. </li></ul></ul><ul><ul><li>Satisfied -- switching would incur costs. </li></ul></ul><ul><ul><li>Values brand, sees it as a friend. </li></ul></ul><ul><ul><li>Devoted to the brand. </li></ul></ul>
  16. 16. Brand Decisions <ul><li>Brand equity refers to the positive differential effect that a brand name has on customers. </li></ul><ul><li>Brand equity: </li></ul><ul><ul><li>is related to many factors. </li></ul></ul><ul><ul><li>allows for reduced marketing costs. </li></ul></ul><ul><ul><li>is a major contributor to customer equity. </li></ul></ul>
  17. 17. Brand Decisions <ul><li>Key Challenges </li></ul><ul><li>To brand or not </li></ul><ul><li>Brand sponsor </li></ul><ul><li>Brand name </li></ul><ul><li>Brand strategy </li></ul><ul><li>Brand repositioning </li></ul><ul><li>Advantages of branding: </li></ul><ul><ul><li>Facilitates order processing </li></ul></ul><ul><ul><li>Trademark protection </li></ul></ul><ul><ul><li>Aids in segmentation </li></ul></ul><ul><ul><li>Enhances corporate image </li></ul></ul><ul><ul><li>Branded goods are desired by retailers and distributors </li></ul></ul>
  18. 18. Brand Decisions <ul><li>Key Challenges </li></ul><ul><li>To brand or not </li></ul><ul><li>Brand sponsor </li></ul><ul><li>Brand name </li></ul><ul><li>Brand strategy </li></ul><ul><li>Brand repositioning </li></ul><ul><li>Options include: </li></ul><ul><ul><li>Manufacturer (national) brand </li></ul></ul><ul><ul><li>Distributor (reseller, store, house, private) brand </li></ul></ul><ul><ul><li>Licensing the brand name </li></ul></ul>
  19. 19. Brand Decisions <ul><li>Key Challenges </li></ul><ul><li>To brand or not </li></ul><ul><li>Brand sponsor </li></ul><ul><li>Brand name </li></ul><ul><li>Brand strategy </li></ul><ul><li>Brand repositioning </li></ul><ul><li>Strong brand names: </li></ul><ul><ul><li>Suggest benefits </li></ul></ul><ul><ul><li>Suggest product qualities </li></ul></ul><ul><ul><li>Are easy to say, recognize, and remember </li></ul></ul><ul><ul><li>Are distinctive </li></ul></ul><ul><ul><li>Should not carry poor meanings in other languages </li></ul></ul>
  20. 20. Brand Decisions <ul><li>Key Challenges </li></ul><ul><li>To brand or not </li></ul><ul><li>Brand sponsor </li></ul><ul><li>Brand name </li></ul><ul><li>Brand strategy </li></ul><ul><li>Brand repositioning </li></ul><ul><li>Varies by type of brand </li></ul><ul><ul><li>Functional brands </li></ul></ul><ul><ul><li>Image brands </li></ul></ul><ul><ul><li>Experiential brands </li></ul></ul><ul><li>Line extensions </li></ul><ul><li>Brand extensions </li></ul><ul><li>Multibrands </li></ul><ul><li>New brands </li></ul><ul><li>Co-branding </li></ul>
  21. 21. Brand Decisions <ul><li>Key Challenges </li></ul><ul><li>To brand or not </li></ul><ul><li>Brand sponsor </li></ul><ul><li>Brand name </li></ul><ul><li>Brand strategy </li></ul><ul><li>Brand repositioning </li></ul><ul><li>A brand report card can be used to audit a brand’s strengths and weaknesses. </li></ul><ul><li>Changes in preferences or the presence of a new competitor may indicate a need for brand repositioning. </li></ul>
  22. 22. Packaging and Labeling <ul><li>Packaging includes: </li></ul><ul><ul><li>The primary package </li></ul></ul><ul><ul><li>The secondary package </li></ul></ul><ul><ul><li>The shipping package </li></ul></ul><ul><li>Many factors have influenced the increased use of packaging as a marketing tool. </li></ul>
  23. 23. Packaging and Labeling <ul><li>Developing an effective package: </li></ul><ul><ul><li>Determine the packaging concept </li></ul></ul><ul><ul><li>Determine key package elements </li></ul></ul><ul><ul><li>Testing: </li></ul></ul><ul><ul><ul><li>Engineering tests </li></ul></ul></ul><ul><ul><ul><li>Visual tests </li></ul></ul></ul><ul><ul><ul><li>Dealer tests </li></ul></ul></ul><ul><ul><ul><li>Consumer tests </li></ul></ul></ul>
  24. 24. Packaging and Labeling <ul><li>Labeling functions: </li></ul><ul><ul><li>Identifies the product or brand </li></ul></ul><ul><ul><li>May identify product grade </li></ul></ul><ul><ul><li>May describe the product </li></ul></ul><ul><ul><li>May promote the product </li></ul></ul><ul><li>Legal restrictions impact packaging for many products. </li></ul>
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