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Product, Services, and
Branding Strategy
8 - 1
Definitions
• Product
 Anything offered to a market for attention,
acquisition, use, or consumption that might
satisfy a need or want.
• Service
 A form of product that consists of activities,
benefits or satisfactions offered for sale that
are essentially intangible and do not result in
the ownership of anything.
8 - 2
Three Levels of Product
8 - 3
Unsought Products
innovations
 Products consumers don’t
want to think about these products
 Require much advertising &
personal selling
i.e Life insurance, blood donation
Product Classifications
Consumer Products
Specialty Products
 Special purchase efforts
 High price
 Unique characteristics
 Brand identification
 Few purchase locations
i.e can be anything
Shopping Products
 Buy less frequently
 Higher price
 Fewer purchase locations
 Comparison shop
i.e Clothing, appliances
Convenience Products
 Buy frequently & immediately
 Low priced
 Mass advertising
 Many purchase locations
i.e Candy, newspapers
8 - 4
Product and Service
Classifications
• Consumer products
• Industrial products
 Materials and parts
 Capital items
 Supplies and services
8 - 5
Brand
A name, term, sign, symbol
or design, or a combination of them,
intended to identify the goods
or services of one seller or group
of sellers and to differentiate
them from those of competitors.
8 - 6
The Role of Brands
Identify the maker
Simplify product handling
Organize accounting
Offer legal protection
8 - 7
The Role of Brands
Signify quality
Create barriers to entry
Serve as a competitive
advantage
Secure price premium
8 - 8
Brand Elements
Elements
Slogans
Brand
names URLs
Logos
Symbols
Characters
8 - 9
Brand Elements
8 - 10
Brand Elements
Companies often create product icons to develop an
identity for their products. Many made-up creatures
and personalities, such as Çelik, Sütaş İnek and
Yumoş Ayı, are widely recognized figures in popular
culture.
8 - 11
Brand Element Choice
Criteria
• Memorable
• Meaningful
• Likeability
• Transferable
• Protectible
8 - 12
Slogans
• Like a good neighbor,
State Farm is there
• Just do it
• Nothing runs like a Deere
• Help is just around the
corner
• Save 15% or more in 15
minutes or less
• We try harder
• We’ll pick you up
• Nextel – Done
• Zoom Zoom
• I’m lovin’ it
• Innovation at work
• This Bud’s for you
• Always low prices
8 - 13
Brand Strategy
• Brand Positioning
• Brand Name Selection
• Brand Sponsorship
• Brand Development
• Three levels of
positioning:
 Product attributes
• Least effective
 Benefits
 Beliefs and values
• Taps into
emotions
Key Decisions
8 - 14
Brand Strategy
• Brand Positioning
• Brand Name Selection
• Brand Sponsorship
• Brand Development
• Good Brand Names:
 Suggest something
about the product or its
benefits
 Are easy to say,
recognize and remember
 Are distinctive
 Are extendable
 Translate well into other
languages
 Can be registered and
legally protected
Key Decisions
8 - 15
Brand Strategy
• Brand Positioning
• Brand Name Selection
• Brand Sponsorship
• Brand Development
• Manufacturer brands
• Private (store) brands
 Costly to establish and
promote
 Higher profit margins
• Licensed brands
 Name and character
licensing has grown
• Co-branding
 Advantages /
disadvantages
Key Decisions
8 - 16
Product and Service
Decisions
• Product line
 A group of products
that are closely
related because they
may:
• function in a similar
manner
• be sold to the same
customer groups,
• be marketed through
the same types of
outlets
• fall within given price
ranges
Key Decisions
• Individual
Product
• Product Line
• Product Mix
Personal Care(product category)
• Personal Wash Skin Care Hair Care
• Lux Fair & Lovely Sunsilk
• Lifebuoy Pond’s Clinic
• Breeze Vaseline Clear
• Dove
8 - 17
Food(Product category)
• Tea Ice cream Food
• Brook bond Wall’s Kissan
• Lipton Knorr
8 - 18
8 - 19
Product and Service
Decisions
• Individual
Product
• Product Line
• Product Mix
• Product line length
 Line stretching:
adding products that
are higher or lower
priced than the
existing line(GSX-R
600)
 Line filling: adding
more items within
the present price
range
Key Decisions
8 - 20
Product and Service
Decisions
• Individual
Product
• Product Line
• Product Mix
• Product mix
 Also known as
product assortment
 Consists of all the
product lines and
items that a
particular seller
offers for sale
Key Decisions
8 - 21
Product and Service
Decisions
• Individual
Product
• Product Line
• Product Mix
• Product mix width:
 Number of different
product lines carried
by company
• Product mix depth:
 Number of different
versions of each
product in the line
• Product mix
consistency
Key Decisions
8 - 22
Brand Equity
The differential effect that brand
knowledge has on consumer
response to the
marketing of that brand.
8 - 23
Branding Strategy
• Brands with strong equity have
many competitive advantages:
 High consumer awareness
 Strong brand loyalty
 Helps when introducing new products
 Less susceptible to price competition
8 - 24
Line Extension
(ARY Digital)
Multi brands
(Dreft)
Brand Extension
(Titan Jewellery)
New Brands
(Olfrute)
Brand
Name
Existing New
Product Category
Existing
New
Four Brand Strategies
8 - 25
Four Services
Characteristics
8 - 26
Characteristics of Services
• Intangibility
 Consumers look for service quality signals
• Inseparability
 Services can’t be separated from providers
• Variability
 Employees and other factors result in
variability
• Perishability
 Services can’t be inventoried for later sale

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branding.ppt

  • 2. 8 - 1 Definitions • Product  Anything offered to a market for attention, acquisition, use, or consumption that might satisfy a need or want. • Service  A form of product that consists of activities, benefits or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything.
  • 3. 8 - 2 Three Levels of Product
  • 4. 8 - 3 Unsought Products innovations  Products consumers don’t want to think about these products  Require much advertising & personal selling i.e Life insurance, blood donation Product Classifications Consumer Products Specialty Products  Special purchase efforts  High price  Unique characteristics  Brand identification  Few purchase locations i.e can be anything Shopping Products  Buy less frequently  Higher price  Fewer purchase locations  Comparison shop i.e Clothing, appliances Convenience Products  Buy frequently & immediately  Low priced  Mass advertising  Many purchase locations i.e Candy, newspapers
  • 5. 8 - 4 Product and Service Classifications • Consumer products • Industrial products  Materials and parts  Capital items  Supplies and services
  • 6. 8 - 5 Brand A name, term, sign, symbol or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.
  • 7. 8 - 6 The Role of Brands Identify the maker Simplify product handling Organize accounting Offer legal protection
  • 8. 8 - 7 The Role of Brands Signify quality Create barriers to entry Serve as a competitive advantage Secure price premium
  • 9. 8 - 8 Brand Elements Elements Slogans Brand names URLs Logos Symbols Characters
  • 10. 8 - 9 Brand Elements
  • 11. 8 - 10 Brand Elements Companies often create product icons to develop an identity for their products. Many made-up creatures and personalities, such as Çelik, Sütaş İnek and Yumoş Ayı, are widely recognized figures in popular culture.
  • 12. 8 - 11 Brand Element Choice Criteria • Memorable • Meaningful • Likeability • Transferable • Protectible
  • 13. 8 - 12 Slogans • Like a good neighbor, State Farm is there • Just do it • Nothing runs like a Deere • Help is just around the corner • Save 15% or more in 15 minutes or less • We try harder • We’ll pick you up • Nextel – Done • Zoom Zoom • I’m lovin’ it • Innovation at work • This Bud’s for you • Always low prices
  • 14. 8 - 13 Brand Strategy • Brand Positioning • Brand Name Selection • Brand Sponsorship • Brand Development • Three levels of positioning:  Product attributes • Least effective  Benefits  Beliefs and values • Taps into emotions Key Decisions
  • 15. 8 - 14 Brand Strategy • Brand Positioning • Brand Name Selection • Brand Sponsorship • Brand Development • Good Brand Names:  Suggest something about the product or its benefits  Are easy to say, recognize and remember  Are distinctive  Are extendable  Translate well into other languages  Can be registered and legally protected Key Decisions
  • 16. 8 - 15 Brand Strategy • Brand Positioning • Brand Name Selection • Brand Sponsorship • Brand Development • Manufacturer brands • Private (store) brands  Costly to establish and promote  Higher profit margins • Licensed brands  Name and character licensing has grown • Co-branding  Advantages / disadvantages Key Decisions
  • 17. 8 - 16 Product and Service Decisions • Product line  A group of products that are closely related because they may: • function in a similar manner • be sold to the same customer groups, • be marketed through the same types of outlets • fall within given price ranges Key Decisions • Individual Product • Product Line • Product Mix
  • 18. Personal Care(product category) • Personal Wash Skin Care Hair Care • Lux Fair & Lovely Sunsilk • Lifebuoy Pond’s Clinic • Breeze Vaseline Clear • Dove 8 - 17
  • 19. Food(Product category) • Tea Ice cream Food • Brook bond Wall’s Kissan • Lipton Knorr 8 - 18
  • 20. 8 - 19 Product and Service Decisions • Individual Product • Product Line • Product Mix • Product line length  Line stretching: adding products that are higher or lower priced than the existing line(GSX-R 600)  Line filling: adding more items within the present price range Key Decisions
  • 21. 8 - 20 Product and Service Decisions • Individual Product • Product Line • Product Mix • Product mix  Also known as product assortment  Consists of all the product lines and items that a particular seller offers for sale Key Decisions
  • 22. 8 - 21 Product and Service Decisions • Individual Product • Product Line • Product Mix • Product mix width:  Number of different product lines carried by company • Product mix depth:  Number of different versions of each product in the line • Product mix consistency Key Decisions
  • 23. 8 - 22 Brand Equity The differential effect that brand knowledge has on consumer response to the marketing of that brand.
  • 24. 8 - 23 Branding Strategy • Brands with strong equity have many competitive advantages:  High consumer awareness  Strong brand loyalty  Helps when introducing new products  Less susceptible to price competition
  • 25. 8 - 24 Line Extension (ARY Digital) Multi brands (Dreft) Brand Extension (Titan Jewellery) New Brands (Olfrute) Brand Name Existing New Product Category Existing New Four Brand Strategies
  • 26. 8 - 25 Four Services Characteristics
  • 27. 8 - 26 Characteristics of Services • Intangibility  Consumers look for service quality signals • Inseparability  Services can’t be separated from providers • Variability  Employees and other factors result in variability • Perishability  Services can’t be inventoried for later sale