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  • 1. Chapter 11 Setting Product and Brand Strategy PowerPoint by Karen E. James Louisiana State University - Shreveport©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 1 in Chapter 11
  • 2. Objectives  Identify the various characteristics of products.  Learn how companies build and manage product lines and mixes.  Understand how companies make better brand decisions.  Comprehend how packaging and labeling can be used as marketing tools.©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 2 in Chapter 11
  • 3. What is a Product?  Goods  Places  Services  Properties  Experiences  Organizations  Events  Information  Persons  Ideas©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 3 in Chapter 11
  • 4. The Product and Product Mix  Potential customers judge product offerings according to three elements: – Product features and quality – Services mix and quality – Value-based prices©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 4 in Chapter 11
  • 5. The Product and Product Mix  The customer value hierarchy: – Core benefit – Basic product – Expected product – Augmented product – Potential product©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 5 in Chapter 11
  • 6. The Product and Product Mix  Nondurable Product – Tangible Classifications – Rapidly consumed – Example: Milk  Durable Durability and – Tangible tangibility – Lasts a long time – Example: Oven Consumer goods  Services Industrial goods – Intangible – Example: Tax preparation©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 6 in Chapter 11
  • 7. The Product and Product Mix Product  Classified by Classifications shopping habits: – Convenience Durability and goods tangibility – Shopping goods Consumer goods – Specialty goods – Unsought goods Industrial goods©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 7 in Chapter 11
  • 8. The Product and Product Mix  Materials and parts Product – Farm products Classifications – – Natural products Component materials – Component parts Durability and  Capital items tangibility – Installations – Equipment Consumer goods  Supplies and business services Industrial goods – Maintenance and repair – Advisory services©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 8 in Chapter 11
  • 9. The Product and Product Mix  Product mix dimensions: – Width: number of product lines – Length: total number of items in mix – Depth: number of product variants – Consistency: degree to which product lines are related©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 9 in Chapter 11
  • 10. Product-Line Decisions  Product-Line Analysis  Product-Line Length  Product-Line Modernization, Featuring, and Pruning©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 10 in Chapter 11
  • 11. Brand Decisions  The AMA definition of a brand: “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.”©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 11 in Chapter 11
  • 12. Brand Decisions  Brands can convey six levels of meaning: – Attributes – Benefits – Values – Culture – Personality – User©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 12 in Chapter 11
  • 13. Brand Decisions  Brand identity decisions include: – Name – Logo – Colors – Tagline – Symbol  Consumer experiences create brand bonding, brand advertising does not.©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 13 in Chapter 11
  • 14. Brand Decisions  Marketers should attempt to create or facilitate awareness, acceptability, preference, and loyalty among consumers.  Valuable and powerful brands enjoy high levels of brand loyalty.©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 14 in Chapter 11
  • 15. Brand Decisions  Aaker identified five levels of customer attitudes toward brands: – Will change brands, especially for price. No brand loyalty. – Satisfied -- has no reason to change. – Satisfied -- switching would incur costs. – Values brand, sees it as a friend. – Devoted to the brand.©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 15 in Chapter 11
  • 16. Brand Decisions  Brand equity refers to the positive differential effect that a brand name has on customers.  Brand equity: – is related to many factors. – allows for reduced marketing costs. – is a major contributor to customer equity.©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 16 in Chapter 11
  • 17. Brand Decisions  Advantages of Key Challenges branding: – Facilitates order To brand or not processing Brand sponsor – Trademark protection – Aids in segmentation Brand name – Enhances corporate image Brand strategy – Branded goods are Brand repositioning desired by retailers and distributors©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 17 in Chapter 11
  • 18. Brand Decisions Key Challenges  Options include: – Manufacturer To brand or not (national) brand – Distributor Brand sponsor (reseller, store, Brand name house, private) brand Brand strategy – Licensing the Brand repositioning brand name©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 18 in Chapter 11
  • 19. Brand Decisions  Strong brand names: Key Challenges – Suggest benefits – Suggest product To brand or not qualities Brand sponsor – Are easy to say, recognize, and Brand name remember – Are distinctive Brand strategy – Should not carry poor Brand repositioning meanings in other languages©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 19 in Chapter 11
  • 20. Brand Decisions  Varies by type of brand Key Challenges – Functional brands – Image brands To brand or not – Experiential brands Brand sponsor  Line extensions  Brand extensions Brand name  Multibrands Brand strategy  New brands Brand repositioning  Co-branding©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 20 in Chapter 11
  • 21. Brand Decisions  A brand report card Key Challenges can be used to audit a brand’s strengths To brand or not and weaknesses. Brand sponsor  Changes in preferences or the Brand name presence of a new Brand strategy competitor may indicate a need for Brand repositioning brand repositioning.©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 21 in Chapter 11
  • 22. Packaging and Labeling  Packaging includes: – The primary package – The secondary package – The shipping package  Many factors have influenced the increased use of packaging as a marketing tool.©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 22 in Chapter 11
  • 23. Packaging and Labeling  Developing an effective package: – Determine the packaging concept – Determine key package elements – Testing: Engineering tests Visual tests Dealer tests Consumer tests©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 23 in Chapter 11
  • 24. Packaging and Labeling  Labeling functions: – Identifies the product or brand – May identify product grade – May describe the product – May promote the product  Legal restrictions impact packaging for many products.©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 24 in Chapter 11