This document discusses brand management and new product development. It defines what a brand is and explains how brand loyalty and equity are developed. It also outlines different types of brands and discusses strategies for managing brands, including brand extensions and licensing. The document then covers the new product development process and organizing structures companies use for new product teams. It discusses identifying early adopters and getting consumers to adopt new products. The summary concludes with a brief overview of product safety and liability considerations.
1. The document discusses brand positioning strategies, which involve designing a company's offering and image to occupy a distinctive place in the target market's mind. This helps guide marketing by clarifying the brand's essence and how it uniquely helps consumers.
2. Key aspects of positioning include identifying optimal points of difference that differentiate the brand from competitors, as well as necessary points of parity. A brand mantra is created to inspire employees and engage consumers.
3. Alternative approaches to positioning discussed are using brand narratives and storytelling, brand journalism, and cultural branding to build an iconic leadership brand through cultural knowledge.
A product is defined as a collection of tangible and intangible attributes that provide satisfaction to users. Key product decisions include design, production, launch location, product mix, and specifications. Design decisions involve initial or changed designs. Production decisions cover manufacturing processes. Launch decisions consider local, international, multinational, or global markets. The product mix encompasses breadth, depth, consistency, and inconsistency of product lines. Additional decisions involve packaging, labeling, branding, and adapting to cultural requirements.
The document discusses strategies for building international brands, including defining brands, understanding customer perspectives, and factors for creating successful global brands. It also covers decisions around product design, branding, and developing brands globally by extending, adapting, or creating new products for international markets. The presentation aims to explain how to establish and grow brands internationally.
This document defines brands and discusses their importance. It provides definitions of a brand from marketing experts and outlines key functions of branding like product identification, ensuring quality, and facilitating consumer choice. Brands help both consumers through standardized quality and firms by increasing sales and prestige. The document also categorizes different types of brands and lists top innovative companies to illustrate brand leadership over time.
Bargaining
Power of Buyers
Dr. A.
33
Category
Category
Factors
Factors
• Environmental Factors
Economic Conditions
Demographic Trends
Technological Changes
Government Regulations
Social Trends
Globalization
Dr. A.
33
Category
Category
Factors
Factors
• Economic Conditions
GDP Growth
Interest Rates
Inflation
Unemployment
Disposable Income
Consumer Confidence
Dr. A.
33
Category
Category
Factors
Factors
• Demographic Trends
Population Growth
Age Distribution
Household Size
Geographic Mobility
Income Distribution
This document outlines key concepts to be learned about branding decisions for a marketing management project. It will cover defining what a brand and branding are, the major branding decisions including positioning, name selection, and development. Branding consists of strategic decisions to differentiate a brand, establish relevance with customers, build brand knowledge and esteem. Proper branding positions the brand in customers' minds based on attributes, benefits or beliefs, and develops brand equity through strong customer perceptions and loyalty over time.
This document discusses key concepts related to products, services, and branding. It defines a product as anything that can satisfy a want or need and be offered for acquisition or consumption. Services are described as intangible activities or benefits offered for sale. Products and services are categorized as either consumer or industrial.
The document outlines several characteristics of services, including intangibility, simultaneous production and consumption, and perishability. It also discusses three levels of products and services - core customer value, actual product, and augmented product.
Finally, the summary discusses branding, including the definition of a brand as a name, symbol, or design that identifies a specific product. It notes there are decisions around brand positioning, name selection,
This presentation helps the beginner to build insight about the 2P's (Price & Product) out of the 4 Marketing P's (which are Product, Price, Place, & Promotion)
1. The document discusses brand positioning strategies, which involve designing a company's offering and image to occupy a distinctive place in the target market's mind. This helps guide marketing by clarifying the brand's essence and how it uniquely helps consumers.
2. Key aspects of positioning include identifying optimal points of difference that differentiate the brand from competitors, as well as necessary points of parity. A brand mantra is created to inspire employees and engage consumers.
3. Alternative approaches to positioning discussed are using brand narratives and storytelling, brand journalism, and cultural branding to build an iconic leadership brand through cultural knowledge.
A product is defined as a collection of tangible and intangible attributes that provide satisfaction to users. Key product decisions include design, production, launch location, product mix, and specifications. Design decisions involve initial or changed designs. Production decisions cover manufacturing processes. Launch decisions consider local, international, multinational, or global markets. The product mix encompasses breadth, depth, consistency, and inconsistency of product lines. Additional decisions involve packaging, labeling, branding, and adapting to cultural requirements.
The document discusses strategies for building international brands, including defining brands, understanding customer perspectives, and factors for creating successful global brands. It also covers decisions around product design, branding, and developing brands globally by extending, adapting, or creating new products for international markets. The presentation aims to explain how to establish and grow brands internationally.
This document defines brands and discusses their importance. It provides definitions of a brand from marketing experts and outlines key functions of branding like product identification, ensuring quality, and facilitating consumer choice. Brands help both consumers through standardized quality and firms by increasing sales and prestige. The document also categorizes different types of brands and lists top innovative companies to illustrate brand leadership over time.
Bargaining
Power of Buyers
Dr. A.
33
Category
Category
Factors
Factors
• Environmental Factors
Economic Conditions
Demographic Trends
Technological Changes
Government Regulations
Social Trends
Globalization
Dr. A.
33
Category
Category
Factors
Factors
• Economic Conditions
GDP Growth
Interest Rates
Inflation
Unemployment
Disposable Income
Consumer Confidence
Dr. A.
33
Category
Category
Factors
Factors
• Demographic Trends
Population Growth
Age Distribution
Household Size
Geographic Mobility
Income Distribution
This document outlines key concepts to be learned about branding decisions for a marketing management project. It will cover defining what a brand and branding are, the major branding decisions including positioning, name selection, and development. Branding consists of strategic decisions to differentiate a brand, establish relevance with customers, build brand knowledge and esteem. Proper branding positions the brand in customers' minds based on attributes, benefits or beliefs, and develops brand equity through strong customer perceptions and loyalty over time.
This document discusses key concepts related to products, services, and branding. It defines a product as anything that can satisfy a want or need and be offered for acquisition or consumption. Services are described as intangible activities or benefits offered for sale. Products and services are categorized as either consumer or industrial.
The document outlines several characteristics of services, including intangibility, simultaneous production and consumption, and perishability. It also discusses three levels of products and services - core customer value, actual product, and augmented product.
Finally, the summary discusses branding, including the definition of a brand as a name, symbol, or design that identifies a specific product. It notes there are decisions around brand positioning, name selection,
This presentation helps the beginner to build insight about the 2P's (Price & Product) out of the 4 Marketing P's (which are Product, Price, Place, & Promotion)
Brands are an integral part of our lives that go beyond just distinguishing products. They give products meaning and benefits to consumers like identification, practicality through repurchasing, quality guarantees, and ensuring the best option for their needs. Managing brands over time requires considering how many are needed, keeping them up to date, extending them geographically in a coherent way, and measuring their value as important assets.
This document discusses important factors for effective brand positioning, including establishing a frame of reference, leveraging points of parity, and having compelling points of difference. It defines these concepts and provides examples to illustrate them. A frame of reference signals the goal a brand can achieve, and points of parity demonstrate how a brand meets the minimum requirements within its frame. Strong points of difference that are desirable and deliverable can distinguish a brand, but must consider brand performance, imagery, and consumer insights. Over time, brands may deepen their positioning through laddering up benefits or maintaining a consistent big idea while varying attributes. The key is regularly assessing the frame of reference, points of parity, and points of difference.
This chapter discusses setting a company's product and branding strategy. It covers topics such as defining product characteristics, developing a product mix and lines, making branding decisions, and using packaging and labeling as marketing tools. The chapter examines how to build and manage a company's portfolio of products and brands to provide value to customers. It provides frameworks for analyzing a product's hierarchy, classifications, and how a company can position and extend its brands.
The document discusses key concepts related to branding, including defining brands, the functions of brands for consumers and marketers, brand loyalty, recognition and preference. It also covers selecting brand names, packaging considerations and functions, and strategies for sustaining growth over the product lifecycle, including modifying marketing programs.
This document discusses key concepts around developing and managing brands and product categories. It defines what a brand is and different types of brands. It also covers brand loyalty and how it is measured. Product identification, trademarks, packaging, labeling, new product planning and development, product positioning, and product safety are also summarized. The overall purpose is to introduce important branding and product management topics.
Marketing (Product Strategy) - Discuss about levels of product, product classification, brand strategies, packaging and labeling of the consumer products.
Nature and importance of brands
Characteristics of a good brand name
Branding strategies of producers and middlemen
Building and using brand equity
Nature and importance of packaging and labeling
Packaging strategies
Marketing implications of product features
This document summarizes key concepts around managing products and branding. It discusses the product life cycle model including the introduction, growth, maturity and decline stages. It then covers branding, explaining the benefits of branding to buyers and sellers. Some key branding decisions are outlined, including selecting a corporate name and types of brands such as manufacturers brands. Packaging, labeling and warranties are also briefly mentioned.
The document discusses strategies for global branding. It notes that companies pursue global branding to benefit from economies of scale, reduce costs, diversify risk, and follow globally mobile customers. An effective strategy is to think globally but act locally - having standardized branding elements but customizing marketing programs for each local market. Companies must balance standardization across markets with customization for local differences in consumers, regulations, and business practices. There are different approaches such as progressively expanding a strategy across countries, simultaneously launching in multiple countries, or unifying existing local brands under one name. Overall, global branding requires understanding differences between markets, establishing infrastructure for coordination, and balancing global versus local control.
This document provides an analysis of the marketing plan for potato/banana chips. It begins by outlining the key questions to be answered about trends, customers, competition, economy, and year-round promotion. It then describes the product attributes and benefits. The target market is identified as those looking for a snack product. Competition and what makes the product better are discussed. Different distribution methods and financial analysis are covered. Promotional activities and relationships with intermediaries are also summarized.
This document discusses key concepts in product and brand management including definitions of products, brands, product levels, product mix, new product adoption process, diffusion of innovation, brand architecture, and the product management process. It provides details on consumer and industrial products, the customer value hierarchy, width, length and depth of product mix, and the different types of adopters in the diffusion of innovation curve.
The impact of private labeled products on consumer brand loyaltyMahir İstanbullu
This document summarizes a research study that investigated the influence of private label brands on customer loyalty and product category performance for a supermarket retailer. The study examined shopping data from over 100 stores generating $3 billion in annual sales. The findings showed that overall spending by loyal customers significantly impacted overall profitability. While private label brands can increase retailer profits, an overemphasis on private labels may diminish category performance as consumers prefer a variety of brand options. Maintaining a balance of private and national brands can help enhance category and store performance.
This document provides an overview of key concepts related to product marketing, including definitions of common terms. It discusses classifying consumer products, describing product items/lines/mixes, uses of branding/packaging, global branding/packaging issues, and why product warranties are important marketing tools. Learning outcomes are stated at the beginning to guide the content covered.
This document discusses social media marketing. It defines social media as online communications channels for community input, interaction, content sharing and collaboration. Social media marketing is perceived as a targeted form of advertising that can effectively create brand awareness. The document recommends determining marketing goals and target audiences before creating social media campaigns. It also provides tips for social media marketing, including content planning, maintaining a consistent brand image, and using social media to promote content and track competitors.
The document discusses concepts related to product and brand management including:
1) Brands differentiate products and add emotional value beyond core functionality.
2) Successful brands are managed strategically throughout their lifecycle and nurtured by the entire organization.
3) Brand leadership often changes over time as markets and consumer preferences shift. Established category leaders may be replaced as new brands emerge.
This document provides an overview of key concepts related to product marketing including:
1) It defines products, different types of consumer products, and discusses product items, lines, and mixes.
2) It describes the marketing uses of branding, packaging, and labeling. It also discusses global issues related to branding and packaging.
3) It explains the importance of product warranties as a marketing tool and defines express and implied warranties.
The document discusses branding, packaging, and labeling. It defines branding as giving a name to identify a product and its maker. Packaging protects products and makes them attractive, identifiable, convenient, and promotable. Labeling provides verbal product information and instructions. Branding, packaging, and labeling help differentiate products, build customer loyalty, and communicate important details to consumers.
This document discusses the 7 P's of marketing: positioning, product, packaging, place, price, promotion, and people. It provides details on positioning a company to target specific customer needs. It describes different types of products like breakthrough, differentiated, copycat, and niche products. Packaging is discussed as a way to protect products, display branding and information. Location or place is analyzed in terms of customer access and density, traffic patterns, and future development potential.
A product is anything offered by a company to satisfy customer needs, whether an object, service, or idea. New product development mostly involves improving existing products, with less than 10% being totally new concepts. The success rate of new products is very low, less than 5%. Products go through stages of development, testing, analysis, and market testing before commercialization in targeted markets and customer groups using an introductory marketing strategy. Products exist at different levels from core benefits to potential enhancements.
Somesh Sharma returned to India after business school in the US and bought a ice cream company. He developed a ginger flavored ice cream after his sister made him one to help with a throat infection. Somesh was delighted with the innovative product and had the company develop it. He then called a meeting to determine the pricing strategy for the new ginger ice cream product considering factors like competition and the company's objectives. The pricing should be on the higher side due to the company's reputation for quality products.
Developing and Managing Brand powerpoint presentationMaryFylLina
Developing and Managing Brand and Product Categories powerpoint presentation that helps all the business institution for any business in different locality
Product Life Cycle (Managing Products and Brands)Chelbert Yuto
1) The document discusses marketing management and the product life cycle concept. It explains the different stages a new product goes through, from introduction to growth, maturity, and decline.
2) Product managers monitor sales and market share trends to manage how products are modified, marketed to new audiences, or repositioned throughout the life cycle. Branding, packaging, and labeling strategies are also reviewed.
3) Successful branding builds brand equity and loyalty by developing brand awareness and positive associations in consumers' minds through marketing programs. Packaging and labeling identify products and convey important information to customers.
Brands are an integral part of our lives that go beyond just distinguishing products. They give products meaning and benefits to consumers like identification, practicality through repurchasing, quality guarantees, and ensuring the best option for their needs. Managing brands over time requires considering how many are needed, keeping them up to date, extending them geographically in a coherent way, and measuring their value as important assets.
This document discusses important factors for effective brand positioning, including establishing a frame of reference, leveraging points of parity, and having compelling points of difference. It defines these concepts and provides examples to illustrate them. A frame of reference signals the goal a brand can achieve, and points of parity demonstrate how a brand meets the minimum requirements within its frame. Strong points of difference that are desirable and deliverable can distinguish a brand, but must consider brand performance, imagery, and consumer insights. Over time, brands may deepen their positioning through laddering up benefits or maintaining a consistent big idea while varying attributes. The key is regularly assessing the frame of reference, points of parity, and points of difference.
This chapter discusses setting a company's product and branding strategy. It covers topics such as defining product characteristics, developing a product mix and lines, making branding decisions, and using packaging and labeling as marketing tools. The chapter examines how to build and manage a company's portfolio of products and brands to provide value to customers. It provides frameworks for analyzing a product's hierarchy, classifications, and how a company can position and extend its brands.
The document discusses key concepts related to branding, including defining brands, the functions of brands for consumers and marketers, brand loyalty, recognition and preference. It also covers selecting brand names, packaging considerations and functions, and strategies for sustaining growth over the product lifecycle, including modifying marketing programs.
This document discusses key concepts around developing and managing brands and product categories. It defines what a brand is and different types of brands. It also covers brand loyalty and how it is measured. Product identification, trademarks, packaging, labeling, new product planning and development, product positioning, and product safety are also summarized. The overall purpose is to introduce important branding and product management topics.
Marketing (Product Strategy) - Discuss about levels of product, product classification, brand strategies, packaging and labeling of the consumer products.
Nature and importance of brands
Characteristics of a good brand name
Branding strategies of producers and middlemen
Building and using brand equity
Nature and importance of packaging and labeling
Packaging strategies
Marketing implications of product features
This document summarizes key concepts around managing products and branding. It discusses the product life cycle model including the introduction, growth, maturity and decline stages. It then covers branding, explaining the benefits of branding to buyers and sellers. Some key branding decisions are outlined, including selecting a corporate name and types of brands such as manufacturers brands. Packaging, labeling and warranties are also briefly mentioned.
The document discusses strategies for global branding. It notes that companies pursue global branding to benefit from economies of scale, reduce costs, diversify risk, and follow globally mobile customers. An effective strategy is to think globally but act locally - having standardized branding elements but customizing marketing programs for each local market. Companies must balance standardization across markets with customization for local differences in consumers, regulations, and business practices. There are different approaches such as progressively expanding a strategy across countries, simultaneously launching in multiple countries, or unifying existing local brands under one name. Overall, global branding requires understanding differences between markets, establishing infrastructure for coordination, and balancing global versus local control.
This document provides an analysis of the marketing plan for potato/banana chips. It begins by outlining the key questions to be answered about trends, customers, competition, economy, and year-round promotion. It then describes the product attributes and benefits. The target market is identified as those looking for a snack product. Competition and what makes the product better are discussed. Different distribution methods and financial analysis are covered. Promotional activities and relationships with intermediaries are also summarized.
This document discusses key concepts in product and brand management including definitions of products, brands, product levels, product mix, new product adoption process, diffusion of innovation, brand architecture, and the product management process. It provides details on consumer and industrial products, the customer value hierarchy, width, length and depth of product mix, and the different types of adopters in the diffusion of innovation curve.
The impact of private labeled products on consumer brand loyaltyMahir İstanbullu
This document summarizes a research study that investigated the influence of private label brands on customer loyalty and product category performance for a supermarket retailer. The study examined shopping data from over 100 stores generating $3 billion in annual sales. The findings showed that overall spending by loyal customers significantly impacted overall profitability. While private label brands can increase retailer profits, an overemphasis on private labels may diminish category performance as consumers prefer a variety of brand options. Maintaining a balance of private and national brands can help enhance category and store performance.
This document provides an overview of key concepts related to product marketing, including definitions of common terms. It discusses classifying consumer products, describing product items/lines/mixes, uses of branding/packaging, global branding/packaging issues, and why product warranties are important marketing tools. Learning outcomes are stated at the beginning to guide the content covered.
This document discusses social media marketing. It defines social media as online communications channels for community input, interaction, content sharing and collaboration. Social media marketing is perceived as a targeted form of advertising that can effectively create brand awareness. The document recommends determining marketing goals and target audiences before creating social media campaigns. It also provides tips for social media marketing, including content planning, maintaining a consistent brand image, and using social media to promote content and track competitors.
The document discusses concepts related to product and brand management including:
1) Brands differentiate products and add emotional value beyond core functionality.
2) Successful brands are managed strategically throughout their lifecycle and nurtured by the entire organization.
3) Brand leadership often changes over time as markets and consumer preferences shift. Established category leaders may be replaced as new brands emerge.
This document provides an overview of key concepts related to product marketing including:
1) It defines products, different types of consumer products, and discusses product items, lines, and mixes.
2) It describes the marketing uses of branding, packaging, and labeling. It also discusses global issues related to branding and packaging.
3) It explains the importance of product warranties as a marketing tool and defines express and implied warranties.
The document discusses branding, packaging, and labeling. It defines branding as giving a name to identify a product and its maker. Packaging protects products and makes them attractive, identifiable, convenient, and promotable. Labeling provides verbal product information and instructions. Branding, packaging, and labeling help differentiate products, build customer loyalty, and communicate important details to consumers.
This document discusses the 7 P's of marketing: positioning, product, packaging, place, price, promotion, and people. It provides details on positioning a company to target specific customer needs. It describes different types of products like breakthrough, differentiated, copycat, and niche products. Packaging is discussed as a way to protect products, display branding and information. Location or place is analyzed in terms of customer access and density, traffic patterns, and future development potential.
A product is anything offered by a company to satisfy customer needs, whether an object, service, or idea. New product development mostly involves improving existing products, with less than 10% being totally new concepts. The success rate of new products is very low, less than 5%. Products go through stages of development, testing, analysis, and market testing before commercialization in targeted markets and customer groups using an introductory marketing strategy. Products exist at different levels from core benefits to potential enhancements.
Somesh Sharma returned to India after business school in the US and bought a ice cream company. He developed a ginger flavored ice cream after his sister made him one to help with a throat infection. Somesh was delighted with the innovative product and had the company develop it. He then called a meeting to determine the pricing strategy for the new ginger ice cream product considering factors like competition and the company's objectives. The pricing should be on the higher side due to the company's reputation for quality products.
Developing and Managing Brand powerpoint presentationMaryFylLina
Developing and Managing Brand and Product Categories powerpoint presentation that helps all the business institution for any business in different locality
Product Life Cycle (Managing Products and Brands)Chelbert Yuto
1) The document discusses marketing management and the product life cycle concept. It explains the different stages a new product goes through, from introduction to growth, maturity, and decline.
2) Product managers monitor sales and market share trends to manage how products are modified, marketed to new audiences, or repositioned throughout the life cycle. Branding, packaging, and labeling strategies are also reviewed.
3) Successful branding builds brand equity and loyalty by developing brand awareness and positive associations in consumers' minds through marketing programs. Packaging and labeling identify products and convey important information to customers.
(1) Products and services have become so alike that brands add emotion and trust to differentiate them, simplify consumer choice, and create relationships between brands and loyal consumers.
(2) Brands create aspirational lifestyles that consumers can associate with, allowing brands to charge more and be extended to new categories.
(3) Effective packaging and labeling promotes products, defines their identity, provides important information to consumers, and ensures safe use while protecting the product.
Branding provides several benefits for companies including helping consumers easily identify products and services, assuring consistent quality, building customer loyalty, and differentiating similar commodities. However, maintaining a prominent brand position requires aggressive promotion and quality control over long periods of time. Companies must also protect their brands from generic usage and counterfeiting to preserve their value. Effective branding strategies consider characteristics like suggesting product benefits, being memorable, distinctive, and adaptable to new products.
This document discusses key concepts related to brand equity, brand positioning, and product life cycles. It defines brand equity as the added value provided to products and services by a brand, in terms of how consumers think and act towards the brand. Brand positioning is developing a specific place for a brand in consumers' minds within a target market. The document outlines steps to positioning a brand, including defining category membership and choosing points of parity and difference. It also discusses strategies for different stages of a product life cycle, such as introducing, growing, sustaining, and declining products.
This document provides an introduction to branding, including definitions of key branding concepts and strategies. It discusses why brands are important for both companies and consumers. Brands help differentiate products and build customer loyalty. Strong brands can command premium prices and remain resilient even if other assets are lost. The document outlines several factors that are important for building a successful brand, such as quality, positioning, communications, investing long-term, and internal marketing. It also defines different types of brands like manufacturers' brands, private labels, individual brands, and family brands.
This document provides an overview of brand management. It defines a brand and discusses the benefits of branding for both customers and companies. Branding allows customers to make quicker decisions and feel assured of quality, while helping companies charge premium prices, build loyalty, and introduce new products more easily. The document also outlines different branding strategies and policies companies can adopt, how to measure brand success, and reasons why brands can fail if they lose relevance or credibility.
Setting Product Strategy and Creating Brand Equity discusses product strategy, brand equity, and branding. It covers distinguishing products, evaluating brands based on branding and experience, protecting brands through trademarks and patents. It also discusses the roles of brands in creating differentiation, applying branding to different entities, and the scope and advantages of strong brands. Key aspects covered include building brand equity through brand elements, marketing activities, and secondary associations. Various models of brand equity and resonance are presented.
Developing and ManagingProductsUnrestricted• Sus.docxhcheryl1
Developing and Managing
Products
Unrestricted
• Sustain growth
• Increase revenue/profit
• Replace obsolete items
Why introduce new products?
• New-to-the-world: discontinuous innovations
• New product lines: enter an established market
• Product line additions
• Improvements or revisions
• Repositioned products: existing products
• Lower-priced products: like competition, but at
a lower price
Categories of new products
1. New product strategy
2. Idea generation
3. Idea screening
4. Business analysis
5. Development
6. Test marketing
7. Commercialization
8. New product
New product development process
• “Plan that links the new product development
process with the objectives of the:
• Marketing department
• Business unit
• Corporation”
• Should specify the role the new products will
play in the organization’s overall strategy
New product strategy
• Sources of new-product ideas
• Customers
• Employees
• Distributors
• Competitors
• Research and development
• Consultants
• Other experts
Idea generation
• Screening:
• Eliminates ideas that are inconsistent with
organizational strategy or are inappropriate for some
other reason
• Concept test:
• Test to evaluate a new-product idea, usually before
any prototype has been created
• Involves consumer reactions to product descriptions
or visual representations of the proposed new
product
Idea screening and concept test
Demand Cost
Sales Profitability
Business analysis stage
• “The stage in the product development process
in which a prototype is developed and a
marketing strategy is outlined”
• Involves:
• Prototype
• Marketing strategy
• Packaging, branding, and labeling
• Promotion, price, and distribution strategy
• Examining manufacturing feasibility
Development
• Team oriented approach
• Marketing, R&D, engineers, production, and suppliers
• Shortens process and reduces costs
Development
• Test marketing:
• “Limited introduction of a product and a marketing
program to determine the reactions of potential
customers in a market situation.”
• Alternatives to test marketing:
• Scanner-based research
• Simulated market testing
• Online test marketing
Test marketing
• Decision to market a product involves:
• Ordering production materials and equipment
• Starting production
• Building inventories
• Shipping the product to field distribution points
• Training the sales force
• Announcing the product to the trade
• Advertising to potential customers
Commercialization
Why do some products fail?
• No discernible benefit compared to existing
products
• Poor match between product features and
customer desires
• Overestimation of market size
• Incorrect targeting
• Too high or too low prices
• Inadequate distribution
Reasons for product failure
Diffusion of Innovation
Spread of new products
Complexity Compatibility Relativeadvantage
Observability Trialability
Product characteristics and rate of adoption
Product life cycles
• Hi.
Product Mix and Product Classification by Neeraj Bhandari ( Surkhet.Nepal )Neeraj Bhandari
This document provides an overview of key marketing management topics including product classification, product mix, new product development, and product life cycle. It discusses the three levels of a product - core, actual, and augmented products. It also covers product attributes, new product development process, organizing for new product development, generating and screening new product ideas, physical product development, pre-test and test marketing, stages of product life cycle, commercialization, product hierarchy, importance and role of brands, brand identity, equity and power.
Product decisions and branding and services- notes.pptagentchandra
This document discusses key concepts related to marketing products and services. It defines what a product is, outlines different product classification schemes including durability, use, and tangibility. It also discusses the different levels of a product from the core benefit to the actual physical product. The document then covers different types of consumer goods classifications including convenience goods, shopping goods, specialty goods, and unsought goods. It outlines important product and service decisions companies must make regarding individual products, product lines, product mixes, and related attributes. The document also discusses branding strategies including family branding and individual product branding. Finally, it covers the four key characteristics of services - intangibility, heterogeneity, simultaneous production and consumption, and perishability - and the implications of
This document summarizes chapters from two textbooks about branding and brand positioning. It discusses key concepts such as what a brand is, how branding works, how to build and measure brand equity, and the importance of developing an effective brand positioning statement. The document also outlines various strategies for market leaders, challengers, followers and niche players to compete in the marketplace and defend or grow their market share.
The document discusses product management and pricing. It defines key concepts like products, product management, branding, packaging, and labeling. It explains product life cycle stages and strategies to manage products at different stages. It also discusses approaches to develop new products, build brands, and extend existing brands into related categories. The objective is to understand how to effectively manage products from development to pricing over their lifecycle.
The document discusses various aspects of branding such as definitions of a brand, brand positioning, brand name selection, brand sponsorship, brand development strategies like line extensions and brand extensions, challenges in branding, importance of packaging, labeling, and universal product codes. It provides examples of well-known brands and analyzes their branding strategies. The key points covered are creating emotional value for customers, building relationships and loyalty, using brands to project aspirational lifestyles and values to command premium prices.
This document discusses key concepts related to branding, including definitions of brands, brand equity, and brand loyalty. It explains that brands add emotion and trust to products, helping create consumer relationships and branded lifestyles. This allows brands to charge premium prices. The document also covers brand positioning, name selection, sponsorship through manufacturer brands, licensed brands, and co-branding. It discusses strategies for brand development, such as line extensions, brand extensions, multibrands, and new brands. Brand rejuvenation is described as a way to enhance brand appeal and refocus consumer attention on existing brands.
This document summarizes the history and rise of private label products compared to manufacturer brands. It discusses how in the 20th century, manufacturer brands dominated the market through quality products and mass advertising. However, in the late 20th century, retailers started developing national chains and began producing their own private label products to differentiate themselves and gain bargaining power over suppliers. The document then outlines the benefits and types of private labels, as well as strategies manufacturer brands can use to compete against the growing private label threat.
Unit 7: Specalizing in Sports and Entertainmentbarnhste
The document discusses marketing strategies for sports and entertainment products. It covers elements of the product mix like branding, packaging, and product lines. Product extensions and enhancements are described as ways to attract customers. The product life cycle framework is introduced, including strategies for different stages. Pricing approaches like skimming and penetration are matched to introduction and growth phases. Decline stage options involve dropping, selling, licensing, or discounting a product. Positioning is defined as differentiating a product from competitors.
Lecture no.6 product, services & branding strategiesAsad Ali
This document discusses various aspects of products and services, including:
1) It defines products as anything offered to a market for consumption, including physical goods, services, and ideas. Services are intangible offerings like banking or consulting.
2) Consumer products are classified based on how and how often they are purchased, such as convenience products bought frequently and specialty products requiring special effort.
3) Industrial products are purchased for use in business operations rather than personal use.
4) Branding, packaging, labeling, and after-sale services are discussed as important elements that distinguish a product in the market and influence customer perception.
Product, services and branding strategiesLizelle Turla
This document discusses key concepts related to products and services. It begins by defining a product as a bundle of benefits offered to customers to satisfy needs. Products can be tangible goods, services, or hybrid offers. When developing products, marketers must identify customer needs, design the product, and find ways to augment it with additional features. A product line consists of a group of related products, and companies can lengthen, widen, or deepen their product mix. For services, the key challenges are intangibility, inseparability, and variability. To improve services, companies must focus on internal service quality, satisfying employees, and greater customer value.
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The 10 Most Influential Leaders Guiding Corporate Evolution, 2024.pdfthesiliconleaders
In the recent edition, The 10 Most Influential Leaders Guiding Corporate Evolution, 2024, The Silicon Leaders magazine gladly features Dejan Štancer, President of the Global Chamber of Business Leaders (GCBL), along with other leaders.
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This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
Each framework is presented with visually engaging diagrams and templates, ensuring the content is both informative and appealing. While this compilation is thorough, please note that the slides are intended as supplementary resources and may not be sufficient for standalone instructional purposes.
This compilation is ideal for anyone looking to enhance their understanding of innovation management and drive meaningful change within their organization. Whether you aim to improve product development processes, enhance customer experiences, or drive digital transformation, these frameworks offer valuable insights and tools to help you achieve your goals.
INCLUDED FRAMEWORKS/MODELS:
1. Stanford’s Design Thinking
2. IDEO’s Human-Centered Design
3. Strategyzer’s Business Model Innovation
4. Lean Startup Methodology
5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
7. McKinsey’s Three Horizons of Growth
8. Customer Journey Map
9. Christensen’s Disruptive Innovation Theory
10. Blue Ocean Strategy
11. Strategyn’s Jobs-To-Be-Done (JTBD) Framework with Job Map
12. Design Sprint Framework
13. The Double Diamond
14. Lean Six Sigma DMAIC
15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
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Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.AnnySerafinaLove
This letter, written by Kellen Harkins, Course Director at Full Sail University, commends Anny Love's exemplary performance in the Video Sharing Platforms class. It highlights her dedication, willingness to challenge herself, and exceptional skills in production, editing, and marketing across various video platforms like YouTube, TikTok, and Instagram.
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This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
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How to Implement a Real Estate CRM SoftwareSalesTown
To implement a CRM for real estate, set clear goals, choose a CRM with key real estate features, and customize it to your needs. Migrate your data, train your team, and use automation to save time. Monitor performance, ensure data security, and use the CRM to enhance marketing. Regularly check its effectiveness to improve your business.
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1. CHAPTER 12 Developing and Managing Brand and Product Categories
MANAGING BRANDS FOR
COMPETITIVE ADVANTAGE
• Brand Name, term, sign, symbol, design, or some
combination that identifies the products of one firm
while differentiating them from the competition’s.
• Brands have a powerful influence on consumer behavior.
2. CHAPTER 12 Developing and Managing Brand and Product Categories
BRAND LOYALTY
• Measured in three stages:
• Brand recognition Consumer awareness and identification of a
brand.
• Brand preference Consumer reliance on previous experiences
with a product to choose that product again.
• Brand insistence Consumer refusal of alternatives and extensive
search for desired merchandise.
3. CHAPTER 12 Developing and Managing Brand and Product Categories
BRAND LOYALTY
• Measured in three stages:
• Brand recognition Consumer awareness and identification of a
brand.
• Brand preference Consumer reliance on previous experiences
with a product to choose that product again.
• Brand insistence Consumer refusal of alternatives and extensive
search for desired merchandise.
TYPES OF BRANDS
• Brands classified in a number of ways.
• Generic products Products characterized by plain labels, no advertising,
and the absence of brand names.
4. CHAPTER 12 Developing and Managing Brand and Product Categories
Manufacturer’s Brands versus Private Brands
• Manufacturer’s brand Brand name owned by a manufacturer or other
producer.
• Examples: Sony, Pepsi, Dell.
• Private brands—brands offered by wholesalers and retailers.
• Account for one of every five items sold in the United States.
Captive Brands
• National brands sold exclusively by a retail chain.
• Example: Target’s sale of products by Michael Graves.
Family and Individual Brands
• Family brand Single brand name that identifies several related products.
• Individual brand—uniquely identifies the item itself.
5. CHAPTER 12 Developing and Managing Brand and Product Categories
BRAND EQUITY
• Brand equity Added value that a respected,
well-known brand name gives to a product in
the marketplace.
• Strong brand equity
• Increases likelihood customers will recognize
firm’s product or product line.
• Can contribute to buyers’ perceptions of
product quality.
• Can reinforce customer loyalty and repeat purchases.
• Facilitates expansion into international markets.
• Built sequentially on four dimensions: differentiation, relevance, esteem,
and knowledge.
6. CHAPTER 12 Developing and Managing Brand and Product Categories
THE ROLE OF CATEGORY AND BRAND
MANAGEMENT
• Category management Product management system
in which a category manager—with profit and loss
responsibility—oversees a product line.
• Help retailer’s category buyer maximize sales for the
whole category, not just particular manufacturer’s product.
• Also identify opportunities for growth, set performance
targets, and create marketing strategy.
7. CHAPTER 12 Developing and Managing Brand and Product Categories
PRODUCT IDENTIFICATION
• Products identified in the marketplace by brand names, symbols, and
distinctive packaging.
• Choices about how to identify products are a major strategic decision.
BRAND NAMES AND BRAND MARKS
• Brand name Part of a brand consisting of words or letters that form a
name that identifies and distinguishes a firm’s offerings from those of its
competitors.
• Brand mark—symbol or pictorial design that distinguishes a product.
• Effective brand names are easy to pronounce, recognize, and remember.
• Should give buyers correct connotation of product’s image and qualify for
legal protection.
• Brand name loses protection when class of products generally comes to be
known by that name. Examples include nylon, kerosene, and zipper.
8. CHAPTER 12 Developing and Managing Brand and Product Categories
TRADEMARKS
• Trademark Brand for which the owner claims exclusive legal protection.
Protecting Trademarks
• Gives firm exclusive legal right to use brand name, brand mark, and any
slogan name or product name appreciation.
• Example: Former Beatles and their representatives sued Apple Computer,
claiming its iPod product violated the trademarks for Apple Corps, the
Beatles record label.
• Firms can also seek protection for packaging elements and product
features.
Trade Dress
• Visual cues in branding that create an overall look.
• Examples: McDonald’s golden arches, Merrill Lynch’s bull.
9. CHAPTER 12 Developing and Managing Brand and Product Categories
DEVELOPING GLOBAL BRAND NAMES AND
TRADEMARKS
• An excellent name or symbol in one country may be a poor choice in
another.
• Some sounds are common to most languages, such as o, k, and short a, so
names such as Coca-Cola and Texaco tend to work well worldwide.
PACKAGING
• Can powerfully influence buyers’ decisions.
• Many companies conduct research to develop and evaluate packaging.
Protection Against Damage, Spoilage, and Pilferage
• Protection against damaging was original purpose of packaging.
• Packaging can help overcome consumer fears of tampering.
10. CHAPTER 12 Developing and Managing Brand and Product Categories
Assistance in Marketing the Product
• Many firms use biodegradable and recyclable materials to respond to
consumer preferences.
• Packaging must help product capture the shopper’s attention.
• Can enhance convenience for buyers.
• Example: Squeezable bottles of honey and ketchup.
Cost-Effective Packaging
• Packaging cost must be reasonable.
11. CHAPTER 12 Developing and Managing Brand and Product Categories
Labeling
• Label carries an item’s brand name or symbol, the name and address of the
manufacturer or distributor, information about the product’s composition
and size, and recommended uses.
• Labels are both promotional and informational.
• Subject to legal restrictions.
• Universal Product Code (UPC)—numerical bar codes printed on packages.
• Reduce labor costs and improve inventory control.
• Radio-frequency identification (RFID) tags—electronic chips that carry
encoded product identification.
• May one day replace some functions of UPC codes.
12. CHAPTER 12 Developing and Managing Brand and Product Categories
BRAND EXTENSIONS
• Brand extension Strategy of attaching a popular brand name to a new
product in an unrelated product category.
• Development by Mattel of Barbie-branded high-end clothing and
accessories for women from their teens through their 30s.
BRAND LICENSING
• Authorizing other companies to use a firm’s brand name.
• Brand’s owner receives royalties, typically four to eight percent of
wholesale revenues.
• Can hurt a brand if the licensed product is poor quality or ethically
incompatible with the brand.
• Another risk is overextending the brand.
13. CHAPTER 12 Developing and Managing Brand and Product Categories
NEW-PRODUCT PLANNING
• Firms must add new products in order to continuing prospering as other
items reach the later stages of the product life cycle.
PRODUCT DEVELOPMENT STRATEGIES
14. CHAPTER 12 Developing and Managing Brand and Product Categories
• Product positioning—refers to consumers’ perceptions of a product’s
attributes, uses, quality, and advantages and disadvantages relative to
competing brands.
• Market development—concentrates on finding new markets for existing
products.
• Product development—introduction of new products into identifiable or
established markets.
• Product diversification—focuses on developing entirely new products for
new markets.
• Firms must avoid cannibalization—introducing a new product that
adversely affects sales of existing products.
15. CHAPTER 12 Developing and Managing Brand and Product Categories
CONSUMER ADOPTION PROCESS
• Adoption process Stages that consumers go through in learning about a
new product, trying it, and deciding whether to purchase it again.
• Consumers go through five stages:
• Awareness—individuals first learn of the new product, but they
lack full information about it.
• Interest—potential buyers begin to seek information about it
• Evaluation—they consider the likely benefits of the product.
• Trial—they make trial purchases to determine its usefulness.
• Adoption/rejection—decide whether to use the product regularly.
• Example: Schick gave away samples of its Quattro razor to move buyers
through the evaluation and trial stages.
16. CHAPTER 12 Developing and Managing Brand and Product Categories
ADOPTER CATEGORIES
• Consumer innovators People who purchase new products almost as soon
as the products reach the market.
• Diffusion process Process by which new goods or services are accepted in
the marketplace.
17. CHAPTER 12 Developing and Managing Brand and Product Categories
IDENTIFYING EARLY ADOPTERS
• Firms who reach early buyers can treat them as a test market.
• Tend to be younger, have higher social status, are better educated, and
enjoy higher incomes than other consumers.
Rate of Adoption Determinants
• Relative advantage—increases the product’s adoption rate.
• Compatibility—innovation consistent with the values and experiences of
potential adopters.
• Complexity—difficulty understanding the innovation can slow the speed
of acceptance.
• Possibility of trial use—can accelerate the rate of adoption.
• Observability—observing an innovation’s superiority increase the
adoption rate.
18. CHAPTER 12 Developing and Managing Brand and Product Categories
ORGANIZING FOR NEW PRODUCT DEVELOPMENT
• Firms must be organized so personnel can stimulate and coordinate new-
product development.
New-Product Committees
• Most common arrangement for new-product development.
• Primarily review and evaluate others’ new product plans rather than
develop their own.
• Tend to move slowly and conservatively in large companies.
New-Product Departments
• Encourage innovation as a full-time activity.
• Department head typically has substantial authority.
19. CHAPTER 12 Developing and Managing Brand and Product Categories
Product Managers
• Another term for a brand manager; supports the marketing strategies of an
individual product or product line.
• Set prices, develop advertising and sales promotion programs, and work
with sales representatives in the field.
• Most consumer-goods companies have adopted a category management
structure, as discussed earlier in the chapter.
Venture Teams
• Gathers a group of specialists from different areas of an organization to
work together in developing new products.
• Has a flexible lifespan.
20. CHAPTER 12 Developing and Managing Brand and Product Categories
THE NEW-PRODUCT DEVELOPMENT PROCESS
• Firms must usually generate dozens of ideas to produce one successful
product.
• New products have an 80 percent failure rate.
21. CHAPTER 12 Developing and Managing Brand and Product Categories
PRODUCT SAFETY AND LIABILITY
• Manufacturers must design their products to protect users from harm.
• Product liability—responsibility of manufacturers and marketers for
injuries and damages caused by their products.
• Example: Poison Prevention Packaging Act, which requires drug
manufacturers to put product in child-resistant packaging.
• Consumer Product Safety Commission has jurisdiction over most
consumer product categories.
• Food and Drug Administration approves food, medications, and health-
related devices.
• Liability lawsuits are increasing domestically and internationally.
• To counter increased litigation and legislation, some companies sponsor
voluntary improvements in safety standards.
• Safety planning and testing can be an effective marketing tool.