Branding, product innovation.pptx
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The document discusses the importance of product innovation for businesses. It states that products that are profitable today may not be profitable tomorrow, so businesses must innovate to satisfy customers and ensure survival. The document lists several types of product innovations like new packaging, renaming, resizing, brand extensions, and product diversification that can help businesses adapt. It emphasizes that innovation is essential for businesses to stay relevant and competitive over time.
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Branding, product innovation.pptx
- 1. Product Innovation Bijubodheswar@gmail.com Department of Commerce Govt. College for women, Thiruvananthapuram bijubodheswar-9446552703
- 2. Product innovation • A product or service, which is profitable today, need not be so tomorrow • The existence of the business largely depends upon how best it serves and satisfies its customers • Innovation is the base for survival bijubodheswar-9446552703
- 30. What does it indicate…? bijubodheswar-9446552703
- 32. Brand Name •Individual Brand •Family Brand •Umbrella Brand bijubodheswar-9446552703
- 33. Brand Name • Individual Brand- each product has a unique brand name • Family Brand- One brand name is given for all products (related products) • Umbrella Brand- All products have the name of the company or manufacturer (soaps, chemicals, engineering goods, vehicles are – TATA) bijubodheswar-9446552703
- 37. Brand Name and Trade marks Brand name is a name (made of words and phrases) while while trademark can be a a name, logo, slogan or their their combination. bijubodheswar-9446552703
- 38. Brand Name • A good brand name should be unique and memorable, helping with consumer awareness and fostering brand loyalty. • Some examples of famous brand names - Nike, Amazon, IBM, Puma, eBay, Google, etc. bijubodheswar-9446552703
- 40. Brand Loyalty • Commitment of buyers to a particular brand • Strong attachment of customer towards the brand • Apple • Sony bijubodheswar-9446552703
- 45. Package • Excellent packages will make consumers notice them right away - hopefully enough to convince them to buy yours instead of somebody else's product. • Packaging protects your goods from any external and internal harm. bijubodheswar-9446552703
- 46. Packing Wrapping or covering items, and it has a role in transportation. Packing is utilized to prevent goods from damage, leakage, pilferage, or breakage. It keeps them safe during transit. bijubodheswar-9446552703
- 49. Labelling • Label- verbal information about the product • Label describes the nature, contents, ownership, methods of use , price etc of the product. • Labelling refers to display of information about the product on its container, package or product itself bijubodheswar-9446552703
- 59. Types of Label • Brand Labels: The brand name, trademark, logo, brand message, etc. • Descriptive Label: This label includes product- related information like ingredients, usage information, care, performance, etc. • Grade Label: Grade label states the quality of the product as per the industry standards and legal requirements. An industry may classify its produce as A, B, C, D grade or good, great, best grade etc bijubodheswar-9446552703