Chp 8-1

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marketing chapter-8 from philip kotler. Products, Services and Brands: Building Customer Value.

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Chp 8-1

  1. 1. Kazi Adeeb HasanId no. 10111101068 23rd Intake (2) presents…
  2. 2. A Presentation OnProducts, Services and Brands: Building Customer Value
  3. 3. INTRODUCTIONThe marketing process of creating value forcustomers and build customer relationships tocapture value from customers in return is performedby satisfying customers with various types ofproducts, services and brands.
  4. 4. What Is a Product? Products, Services, and Experiences Product is anything that can be offered in a market for attention, acquisition, use, or consumption that might satisfy a need or want• Soap• Toothpaste
  5. 5. What Is a Product? Products, Services, and Experiences Service is a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in ownership• Doctor’s exam• Financial services
  6. 6. What Is a Product? Products, Services, and Experiences Experiences represent what buying the product or service will do for the customer• Disney• American Girl• Toys “R” Us
  7. 7. What Is a Product? Levels of Product & Services basic level is the core customer value. It represents what the buyer is really buying Second level is turning the core benefits into an actual product. It represents the design, brand name, and packaging that delivers the core benefit to the customer In the third stage building an augmented product by offering additional consumer services and benefits
  8. 8. Three Levels of Product Augmented productDelivery After and Actual product salecredit service Brand Features name Core Customer Quality value Design levelProduct Packagingsupport Warranty
  9. 9. What Is a Product? Product and Service Classifications There are two types of products: Consumer Products Industrial Products
  10. 10. What Is a Product? Product and Service ClassificationsConsumer products are products and services for personal consumption• It is classified by how consumers buy them Consumer ProductsConvenience Shopping Specialty Unsought Products Products Products Products
  11. 11. What Is a Product? Product and Service ClassificationsConvenience productsconsumer products and services that the customer usually buys frequently, immediately, and with a minimum comparison and buying effort• Newspapers• Candy• Fast food
  12. 12. What Is a Product? Product and Service ClassificationsShopping productsconsumer products and services that the customer compares carefully on suitability, quality, price, and style• Furniture• Cars• Appliances
  13. 13. What Is a Product? Product and Service ClassificationsSpecialty productsconsumer products and services with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort• Medical services• Designer clothes• High-end electronics
  14. 14. What Is a Product? Product and Service ClassificationsUnsought productsconsumer products that the consumer does not know about or knows about but does not normally think of buying• Life insurance• Funeral services• Blood donations
  15. 15. What Is a Product? Product and Service Classifications Industrial products are products purchased for further processing or for use in conducting a business Industrial Products Materials Supplies Capital And and Items Parts Services
  16. 16. What Is a Product? Product and Service Classifications Materials and parts include raw materials and manufactured materials and parts usually sold directly to industrial users• Wheat• Lumber• Iron• Cement
  17. 17. What Is a Product? Product and Service Classifications Capital items are industrial products that aid in the buyer’s production or operations• Buildings• Elevators• Computers
  18. 18. What Is a Product? Product and Service Classifications Supplies and services include operating supplies, repair and maintenance items, and business services
  19. 19. What Is a Product? Organizations, Persons, Places, and Ideas• Organizations-Profit (businesses) and Nonprofit (colleges, churches and museums)• Persons –Entertainers, doctors, lawyers and architects• Places-Tourist attracting sites, new residents, company offices and factories• Social –Reduce smoking, drug abuse, family planning and human rights
  20. 20. Product and Service DecisionsINDIVIDUAL PRODUCT PRODUCT MIX LINE DECISIONAND SERVICE DECISION DECISION
  21. 21. Product and Service Decisions Individual Product and Service Decisions Product Product Branding Packaging Labeling Supportattributes services
  22. 22. Product and Service Decisions Individual Product and Service Decisions Product attributes are the benefits of the product or service Quality Features Styles & Design
  23. 23. Product and Service Decisions Individual Product and Service Decisions Product quality includes level and consistency• Quality level is the level of quality that supports the product’s positioning• Conformance quality is the product’s freedom from defects and consistency in delivering a targeted level of performance
  24. 24. Product and Service Decisions Individual Product and Service Decisions Product features are a competitive tool for differentiating a product from competitors’ products Product features are assessed based on the value to the customer versus the cost to the company
  25. 25. Product and Service Decisions Individual Product and Service Decisions Style describes the appearance of the product Design contributes to a product’s usefulness as well as to its looks. It goes to the very heart of a product
  26. 26. Product and Service Decisions Individual Product and Service Decisions Brand is the name, term, sign, or design—or a combination of these—that identifies the maker or seller of a product or service Brand equity is the differential effect that the brand name has on customer response to the product and its marketing
  27. 27. Product and Service Decisions Individual Product and Service Decisions Packaging involves designing and producing the container or wrapper for a product The primary function of the package was to hold and protect the product
  28. 28. Product and Service Decisions Individual Product and Service Decisions Labeling identifies the product or brand, describes attributes, and provides promotion
  29. 29. Product and Service Decisions Individual Product and Service Decisions The label might also describe several things about the product-• who made it• where it was made• when it was made• its contents• how it is to be used and• how to use it safely
  30. 30. Product and Service Decisions Individual Product and Service Decisions Product support services augment actual productsCompanies must continually:• Assess the value of current services to obtain ideas for new ones• Assess the costs of providing these services• Develop a package of services to satisfy customers and provide profit to the company
  31. 31. Product and Service Decisions Product Line Decisions Product line is a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price ranges
  32. 32. Product and Service Decisions Product Line Decisions Product line length is the number of items in the product line Product Line Length Line Line Filling StretchingDownward Both Ways Upward
  33. 33. Product and Service Decisions Product Line Decisions• Line filling: adding more items within the present range of the line More profits Satisfying dealers• Line stretching: when a company lengthens its product line beyond its current range• Downward: add low-end products• Upward: add prestige to the current products• Both ways: achieve both goals of line filling and line stretching
  34. 34. Product and Service Decisions Product Mix Decisions Product mix consists of all the products and items that a particular seller offers for sale• A companys product mix has four important dimensions
  35. 35. Product Mix
  36. 36. Product and Service Decisions Product Mix Decisions Width: total number of different product lines the company carries Length: total number of items the company carries within its product lines Depth: number of versions offered of each product in the line Consistency: how closely related the various product lines are in end use, production requirements, distribution channels or some other way
  37. 37. Branding Strategy: Building Strong Brands Brand represents the consumer’s perceptions and feelings about a product and its performance. Brand Equity Brand equity is the positive differential effect that knowing the brand name has on customer response to the product or service.
  38. 38. Building Strong Brands Brand positioning Attributes Benefits Beliefs and values Brand name selection Selection Protection Brand sponsorship Manufacturer’s brand Private brand Licensing Co-branding Brand development Line extensions Brand extensions Multibrands New brands
  39. 39. Branding Strategy: Building Strong Brands Brand PositioningBrand positioning includes: Product attributes Product benefits Product beliefs and values
  40. 40. Branding Strategy: Building Strong Brands Brand Name SelectionDesirable qualities1. Suggest benefits and qualities2. Easy to pronounce, recognize, and remember3. Distinctive4. Extendable5. Translatable for the global economy6. Capable of registration and legal protection
  41. 41. Branding Strategy: Building Strong Brands Brand Sponsorship Manufacturer’s brand:• A brand created and owned by a manufacturer of a product or service Private brand:• A brand created and owned by a reseller of a product or service Licensed brand:• license names or symbols previously created by other manufacturers, names of well-known celebrities, or characters from popular movies and books Co-brand:• Co-branding occurs when two established brand names of different companies are used on the same product
  42. 42. Branding Strategy: Building Strong Brands Brand Development Strategies Product Category Existing New Line BrandBrand Name Existing Extensions Extension New Multibrands New Brands
  43. 43. Branding Strategy: Building Strong Brands Brand Development Strategies Line extensions• occur when a company extends existing brand names to new forms, colors, sizes, ingredients, or flavors of an existing product category Brand extensions• extend a brand name to a new or modified product in a new category Multibrands• additional brands in the same category New brands• are used when existing brands are inappropriate for new products in new product categories or markets
  44. 44. Branding Strategy: Building Strong Brands Managing BrandsRequires: Continuous brand communication Customer-centered training Brand audits
  45. 45. Services Marketing Types of Service Industries Government Private not-for-profit organizations Business services
  46. 46. Services Marketing Nature and Characteristics of a Service Intangibility Inseparability Services cannot be Services cannot beseen, tasted, felt, heard separated from their or smelled before providers purchase Services Variability Perishability Quality of services Services cannot bedepends on who provides stored for later sale or them and when, where use. and how
  47. 47. Services Marketing Marketing Strategies for Service Firms In addition to traditional marketing strategies, service firms often require additional strategies• Service-profit chain• Internal marketing• Interactive marketing
  48. 48. Marketing Strategies for Service Firms Service-profit chain
  49. 49. Services Marketing Marketing Strategies for Service Firms Service-profit chain links service firm profits with employee and customer satisfaction• Internal service quality• Satisfied and productive service employees• Greater service value• Satisfied and loyal customers• Healthy service profits and growth
  50. 50. Marketing Strategies for Service Firms Three Types of Service Marketing Company Employee Customers Interactive Marketing
  51. 51. Marketing Strategies for Service Firms Internal marketingOrienting and motivating customer-contactemployees and supporting service people to work asa team to provide customer satisfaction
  52. 52. Marketing Strategies for Service Firms Interactive marketingTraining service employees in the fine art of interacting with customers to satisfy their needs
  53. 53. Marketing Strategies for Service Firms External Marketing Product Price Variety List Price Quality Discounts Design Allowance Features Payment Period Brand name Credit terms service Packaging 4 P’S Place Promotion Channels Advertising Coverage Personal selling Assortments Sales Promotion Locations Public Relations Inventory Transportations Logistics
  54. 54. Marketing Strategies for Service Firms Major Marketing TasksManaging Service Differentiation• creates a competitive advantage from the offer, delivery, and image of the serviceManaging Service QualityEmpower employees Responsibility Authority IncentiveManaging Service Productivity• Train current or new employees• Increase quantity by decreasing qualities technology
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