Product and brand management ppt sir
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Product and brand management ppt sir Presentation Transcript

  • 1. BY, INDERRAJ SINGH KOHLI ROLL NO .. 18
  • 2.
    • A product is any offering by a company to a market that serves to satisfy customer needs and wants.
    • It can be an object, service, idea,etc.
  • 3.
    • Most new product development is an improvement on existing products
    • Less than 10% of new products are totally new concepts.
  • 4.
    • The success rate of new products is very low – less than 5%. ‘You have to kiss a lot of frogs to find a prince.”
    • Product obsolescence is rapid with improvements in technology
    • Shorter PLCs
  • 5.
    • Idea generation
    • Idea screening
    • Concept development and testing
    • Concept testing
    • Conjoint analysis – to find out the best valued attributes by consumers
  • 6.
    • Test markets
    • Test periods
    • What information to gather?
    • What action to take?
  • 7.
    • Need
    • Product family
    • Product class
    • Product Line
    • Product type
    • Brand
    • Item
  • 8.
    • The assortment of products that a company offers to a market
    • Width – how many different product lines?
    • Length – the number of items in the product mix
    • Depth – The no. of variants offered in a product line
    • Consistency – how closely the product lines are related in usage
  • 9.
    • Product rationalization
    • Market rationalization
    • Product line length
    • too long – when profits increase by dropping a product in the line
    • too short – when profits increase by adding products to the product line
    • Line pruning – capacity restrictions to decide
  • 10.
    • A name becomes a brand when consumers associate it with a set of tangible and intangible benefits that they obtain from the product or service
    • It is the seller’s promise to deliver the same bundle of benefits/services consistently to buyers
  • 11.
    • What is brand?
    • Name,sign, symbol,intended to identify goods & services of one seller from another
    • Branding is decommodification of product
    Brand identity Perspectives of Marketer Brand image Perspectives of Consumer
  • 12.
    • When a commodity becomes a brand, it is said to have equity.
    • The premium a brand can command in the market
    • The difference between the perceived value and the intrinsic value
  • 13.
    • Attributes
    • Benefits
    • Values
    • Culture
    • Personality
    • Users
  • 14.
    • Customer will change brands for price reasons
    • Customer is satisfied. No reason to change.
    • Customer is satisfied and would take pains to get the brand
    • Customer values the brand and sees it as a friend
    • Customer is devoted to the brand
  • 15.
    • Reduced marketing costs
    • Trade leverage
    • Can charge a higher price
    • Can easily launch brand extensions
    • Can take some price competition
  • 16.
    • Brand Equity needs to be nourished and replenished. We must not flog the brand for equity to be diluted or dissipated
    • Store brands
  • 17.
    • Easy for the seller to track down problems and process orders
    • Provide legal protection of unique product features
    • Branding gives an opportunity to attract loyal and profitable set of customers
    • It helps to give a product category at different segments, having separate bundle of benefits
    • It helps build corporate image
    • It minimises harm to company reputation if the brand fails
  • 18.
    • Products from different categories under one brand
    • Dangerous to the brand if the principal brand fails
    • Sometimes the company name is prefixed to the brand. In such cases the company name gives it legitimacy. The product name individualises it.
  • 19.
    • Product benefits
    • Product qualities
    • Easy to pronounce
    • Should be distinctive
    • Should not have poor meanings in other languages and countries
  • 20.
    • This may be required after a few years to face new competition and changing customer preferences
  • 21.
    • Includes the activities of designing and producing the container for a product
    • Packaging is done at three levels
    • - primary
    • - secondary
    • - shipping
  • 22. BY, INDERRAJ SINGH KOHLI ROLL NO ..18