Chapter 5 Aspect of Marketing Part 2
What is branding? Use of name, term, symbol or design – or a combination of these four things to identify a product.
What is branding?
What is brand loyalty? Customers are satisfied that a certain brand meets their needs all the time, they will develop bran...
Why is branding important? <ul><li>Easy to market famous brand </li></ul><ul><li>Helps customers recognise a product or se...
Why is branding important?
Why is packaging? <ul><li>Container or the wrapper for a product. It includes the following: </li></ul><ul><li>Label </li>...
Why is packaging?
Functions of packaging <ul><li>Protects and contains </li></ul><ul><li>Prevent shoplifting </li></ul><ul><li>Saves space a...
Aspect of Marketing  PART 2
Support Service <ul><li>Services and benefits offered to customers in addition to the product </li></ul><ul><li>Customer r...
What is Pricing? Refers to the Price of product. It affects the revenue of a business. When we price too high, customers m...
How to Price? Cost: refer to all the expenses a business pays to buy or produce its product.
How to Price? Competitor’s prices: We set our prices based on our competitors’ pricing. We may price our product higher if...
How to Price? Customer’s willingness to pay: How much its target customers are willing to pay.
Pricing techniques Product Line Pricing – setting different prices for different version of the same product. Airline tick...
Pricing techniques Optional product pricing – Involves setting prices of optional or accessory along with the main product...
Pricing techniques Product bundle pricing – pricing a few items of related products in a bundle. Example: Set meals – burg...
Pricing techniques Promotional Pricing – involve temporarily pricing product below the listed prices. Example: Special dis...
Pricing techniques Odd-even pricing – Involves setting prices at value just below an even amount. Example: instead of $20,...
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Chapter 5 aspects of marketing part 22010

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Chapter 5 aspects of marketing part 22010

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Chapter 5 aspects of marketing part 22010

  1. 1. Chapter 5 Aspect of Marketing Part 2
  2. 2. What is branding? Use of name, term, symbol or design – or a combination of these four things to identify a product.
  3. 3. What is branding?
  4. 4. What is brand loyalty? Customers are satisfied that a certain brand meets their needs all the time, they will develop brand loyalty. They are willing to pay a higher price for their preferred brand..
  5. 5. Why is branding important? <ul><li>Easy to market famous brand </li></ul><ul><li>Helps customers recognise a product or service. </li></ul><ul><li>Helps build customer loyalty </li></ul><ul><li>Improve the image of business </li></ul><ul><li>Easier to introduce new products </li></ul>
  6. 6. Why is branding important?
  7. 7. Why is packaging? <ul><li>Container or the wrapper for a product. It includes the following: </li></ul><ul><li>Label </li></ul><ul><li>Printed description of the product </li></ul><ul><li>Instruction on how to use the product </li></ul>
  8. 8. Why is packaging?
  9. 9. Functions of packaging <ul><li>Protects and contains </li></ul><ul><li>Prevent shoplifting </li></ul><ul><li>Saves space and easy to handle </li></ul><ul><li>Promotes image and brand </li></ul><ul><li>Prevents spoilage </li></ul><ul><li>Easier and safer to use </li></ul>
  10. 10. Aspect of Marketing PART 2
  11. 11. Support Service <ul><li>Services and benefits offered to customers in addition to the product </li></ul><ul><li>Customer reward </li></ul><ul><li>Customer service </li></ul><ul><li>Fast and reliable delivery </li></ul><ul><li>Financing and hire purchase </li></ul><ul><li>Warranty </li></ul><ul><li>After sales service </li></ul><ul><li>Product and technical information </li></ul><ul><li>On-site repair </li></ul><ul><li>Free installation </li></ul>
  12. 12. What is Pricing? Refers to the Price of product. It affects the revenue of a business. When we price too high, customers may not buy. We price too low, we may not earn enough revenue.
  13. 13. How to Price? Cost: refer to all the expenses a business pays to buy or produce its product.
  14. 14. How to Price? Competitor’s prices: We set our prices based on our competitors’ pricing. We may price our product higher if they are unique.
  15. 15. How to Price? Customer’s willingness to pay: How much its target customers are willing to pay.
  16. 16. Pricing techniques Product Line Pricing – setting different prices for different version of the same product. Airline tickets: economy class, Business class and first class
  17. 17. Pricing techniques Optional product pricing – Involves setting prices of optional or accessory along with the main product. - Pizza restaurant offer customers the choice adding extra topping with extra cost.
  18. 18. Pricing techniques Product bundle pricing – pricing a few items of related products in a bundle. Example: Set meals – burger + drink + fries
  19. 19. Pricing techniques Promotional Pricing – involve temporarily pricing product below the listed prices. Example: Special discounts are offered during festive seasons like Christmas and New Year
  20. 20. Pricing techniques Odd-even pricing – Involves setting prices at value just below an even amount. Example: instead of $20, the price is set at $19.95

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