Bmgt 205 chapter_11
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Bmgt 205 chapter_11

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    Bmgt 205 chapter_11 Bmgt 205 chapter_11 Presentation Transcript

    • BMGT 205: Principles of Marketing Chapter 11: Product, Branding, 
 and Packaging Decisions
    • Product, Branding, 
 and Packaging Decisions
    • P&G - Olympic Brand Building http://youtu.be/57e4t-fhXDs
    • Types of Products Specialty Shopping Unsought Convenience
    • Product Mix and 
 Product Line Decisions • Product mix or product assortment is the complete set of all products offered by a firm. • Product lines are groups of associated items, such as items that consumers use together or think of as part of a group of similar products. • SKU - Stock Keeping Unit Breadth ••Number of product lines Depth ••Number of categories within a product line
    • Logos and symbols URLs Brand name Characters Slogans Branding What Makes a Brand? Jingles/Sounds
    • Facilitate Purchasing Establish Loyalty Protect from Competition Reduce Marketing Costs Are Assets Impact Market Value http://www.youtube.com/watch?v=MX8O7z4NtoU Value of Branding for the Customer
    • Brand Equity: Brand Awareness http://www.interbrand.com/en/best-global-brands/2013/ Best-Global-Brands-2013-Brand-View.aspx
    • Brand Equity: Perceived Value • Perceived value of a brand is the relationship between a product or service’s benefits and its cost. • How do discount retailers like Target, T.J. Maxx, and H&M create value for customers?
    • Brand Equity: Brand Associations • A brand association reflects the mental links that consumers make between a brand and its key product attributes, such as a logo, slogan, or famous personality. http://youtu.be/pCv-bwCqqXE
    • Brand Equity: Brand Loyalty • Brand loyalty occurs when a consumer buys the same brand’s product or service repeatedly over time rather than buy from multiple suppliers within the same category. • Consumers are often less sensitive to price • Marketing costs are much lower • Firm insulated from the competition
    • CHECK YOURSELF 1. How do brands create value for the customer and the firm? 2. What are the components of brand equity?
    • Brand Ownership Manufacturer brands or national brands Private-label brands or Store Brands • Premium • Generic • Copycat • Exclusive co-branded
    • Traders Joes: 100% Private Label
    • Naming Brands and Product Lines • Corporate or family brand • • Corporate and product line brands • • The Gap Kellogg’s Corn Flakes Individual lines • Mr. Clean (Proctor & Gamble)
    • Brand Extension • A brand extension refers to the use of the same brand name for new products being introduced to the same or new markets.
    • Brand Dilution Evaluate the fit between
 the product class
 of the core brand
 and the extension. Evaluate consumer 
 perceptions of the 
 attributes of the core brand and seek out extensions 
 with similar attributes. Is the brand 
 extension distanced 
 enough from the 
 core brand? Refrain from 
 extending the brand 
 name to too many 
 products.
    • Co-branding • Co-branding is the practice of marketing two or more brands together, on the same package or promotion.
    • Brand Licensing • Brand licensing is a contractual agreement between firms, whereby one firm allows another to use its brand name, logo, symbols, and/or characters in exchange for a negotiated fee.
    • Brand Repositioning • Brand repositioning or rebranding refers to a strategy in which marketers change a brand’s focus to target new markets or realign the brand’s core emphasis with changing market preferences.
    • CHECK YOURSELF 1. 2. 3. 4. What are the differences among manufacturer and private-label brands? What is co-branding? What is the difference between brand extension and line extension? What is brand repositioning?
    • Packaging • What other packaging do you as a consumer find useful?
    • Product Labeling