Product and Brand

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Product and Brand

  1. 1. Managing Product Lines, Brands, and Packaging
  2. 2. Objectives <ul><li>Product Characteristics </li></ul><ul><li>Building & Managing the Product Mix & Product Lines </li></ul><ul><li>Brand Decisions </li></ul><ul><li>Packaging & Labeling </li></ul>
  3. 3. Components of the Market Offering Attractiveness of the market offering Value-based prices Services mix and quality Product features and quality
  4. 4. Five Product Levels Core benefit Potential product Augmented product Expected product Basic product
  5. 5. Consumer-Goods Classification <ul><li>Buy less frequently </li></ul><ul><li>Gather product information </li></ul><ul><li>Fewer purchase locations </li></ul><ul><li>Compare for: </li></ul><ul><ul><li>Suitability & Quality </li></ul></ul><ul><ul><li>Price & Style </li></ul></ul><ul><li>Special purchase efforts </li></ul><ul><li>Unique characteristics </li></ul><ul><li>Brand identification </li></ul><ul><li>Few purchase locations </li></ul><ul><li>New innovations </li></ul><ul><li>Products consumers don’t want to think about. </li></ul><ul><li>Require much advertising & </li></ul><ul><li>personal selling </li></ul><ul><li>Buy frequently & immediately </li></ul><ul><li>Low priced </li></ul><ul><li>Many purchase locations </li></ul><ul><li>Includes: </li></ul><ul><ul><li>Staple goods </li></ul></ul><ul><ul><li>Impulse goods </li></ul></ul><ul><ul><li>Emergency goods </li></ul></ul>Specialty Products Unsought Products Shopping Products Convenience Products
  6. 6. Product Mix Width - number of different product lines Length - total number of items within the lines Depth - number of versions of each product Product Mix - all the product lines offered Consistency
  7. 7. Product-Line Length <ul><li>Line Stretching </li></ul><ul><ul><li>Downmarket </li></ul></ul><ul><ul><li>Upmarket </li></ul></ul><ul><ul><li>Two-way </li></ul></ul><ul><li>Line Filling </li></ul><ul><li>Line Modernization </li></ul><ul><li>Line Featuring & Line Pruning </li></ul>
  8. 8. Two-Way Product-Line Stretch: Marriott Hotels Quality Economy Superior Standard Good Price High Above average Average Low Fairfield Inn (Vacationers) Courtyard (Salespeople) Marriott (Middle managers) Marriott Marquis (Top executives)
  9. 9. What is a Brand? Attributes Benefits Values Culture User Personality
  10. 10. Brand Equity No Brand Loyalty (customer will change) Satisfied Customer (no reason to change) Satisfied & Switching Cost Values the Brand (brand as friend) Devoted to Brand
  11. 11. An Overview of Branding Decisions Branding Decision <ul><li>Brand </li></ul><ul><li>No brand </li></ul>Brand- Sponsor Decision <ul><li>Manu- </li></ul><ul><li>facturer </li></ul><ul><li>brand </li></ul><ul><li>Distribu- </li></ul><ul><ul><li>tor </li></ul></ul><ul><li>(private) </li></ul><ul><li>brand </li></ul><ul><li>Licensed </li></ul><ul><li>brand </li></ul>Brand- Name Decision <ul><li>Individual </li></ul><ul><li>brand </li></ul><ul><li>names </li></ul><ul><li>Blanket </li></ul><ul><li>family </li></ul><ul><li>name </li></ul><ul><li>Separate </li></ul><ul><li>family </li></ul><ul><li>names </li></ul><ul><li>Company- </li></ul><ul><li>individual </li></ul><ul><li>names </li></ul>Brand- Repositioning Decision <ul><li>Reposi- </li></ul><ul><li>tioning </li></ul><ul><li>No </li></ul><ul><li>reposi- </li></ul><ul><li>tioning </li></ul>Brand- Strategy Decision <ul><li>Line </li></ul><ul><li>extension </li></ul><ul><li>Brand </li></ul><ul><li>extension </li></ul><ul><li>Multi- </li></ul><ul><li>brands </li></ul><ul><li>New </li></ul><ul><li>brands </li></ul><ul><li>Cobrands </li></ul>
  12. 12. Brand Strategies New Brands Brand Extension New Brand Name Product Category Line Extension Existing Existing Multibrands New
  13. 13. Good Brand Names: Suggest Product Benefits Distinctive Lack Poor Foreign Language Meanings Suggest Product Qualities Easy to: Pronounce Recognize Remember
  14. 14. Why Package Crucial as a Marketing Tool <ul><li>Self-service </li></ul><ul><li>Consumer affluence </li></ul><ul><li>Company & brand image </li></ul><ul><li>Opportunity for innovation </li></ul>
  15. 15. Labels Identify Describe Promote
  16. 16. Review <ul><li>Product Characteristics </li></ul><ul><li>Building & Managing the Product Mix & Product Lines </li></ul><ul><li>Brand Decisions </li></ul><ul><li>Packaging & Labeling </li></ul>

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