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Ch#8 Products, Services & Brands.ppt marketing
- 1. Marketing Management Marketing Management Products,Services, and Brands: Building Customer Value
- 2. What is aProduct? Whatever is offered for “sale” in a marketing exchange Can be tangible goods (Laptop), services (Airlines), ideas (Don’t smoke), places (Monal ), persons.
- 3. Products, Services, andExperiences Market offerings, pure tangible goods, pure services, experiences What is a Product ? What is a Product ?
- 4. Definitions Product Anything offeredto a market for attention, acquisition, use, or consumption that might satisfy a need or want. Service Any activity or benefit that one party can offer to another that is essentially intangible and does not result in ownership of anything.
- 5. Tangible Produced Then Sold Intangible SoldThen Produced and/ or Consumed Same Time Can Store and Transport Produced Separate From Consumer Perishable Often Produced In Consumer's Presence Goods Services
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- 8. Product Classifications Consumerproducts Industrial products
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- 10. A Product.. Anythingtangible or intangible that, through the exchange process, satisfies consumer or business customer needs. Products can be: physical goods, services, ideas, people, or places
- 11. Classification of Products HowLong the Products Will Last
- 12. Durable Goods Provide Long-TermBenefits (cars, furniture, appliances) Nondurable Goods Provide Short-Term Benefits (newspapers, food) Low Involvement Decisions High Involvement Decisions
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- 14. Convenience Shopping Specialty Unsought Frequentpurchases bought with minimal buying effort and little comparison shopping Low price Widespread distribution Mass promotion by producer Types of Types of Consumer Consumer Products Products
- 15. Convenience Shopping Specialty Unsought Lessfrequent purchases requiring more shopping effort and price, quality, and style comparisons. Higher than convenience good pricing Selective distribution in fewer outlets Advertising and personal selling by producer and reseller Types of Types of Consumer Consumer Products Products
- 16. Convenience Shopping Specialty Unsought Strongbrand preference and loyalty, requires special purchase effort, little brand comparisons, and low price sensitivity High price Exclusive distribution Carefully targeted promotion by producers and resellers Types of Types of Consumer Consumer Products Products
- 17. Convenience Shopping Specialty Unsought Littleproduct awareness and knowledge (or if aware, sometimes negative interest) Pricing varies Distribution varies Aggressive advertising and personal selling by producers and resellers Types of Types of Consumer Consumer Products Products
- 18. Industrial products Materialsand parts Capital items Supplies and services
- 19. Organizations Persons Places Ideas
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- 23. Developing a Productor Service Involves Defining the Benefits Developing a Product or Service Involves Defining the Benefits that it Will Offer that it Will Offer Product Attributes
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- 26. Product Quality Product Features ProductStyle & Design Ability of a Product to Perform Its Functions; Includes Level & Consistency Help to Differentiate the Product from Those of the Competition Process of Designing a Product’s Style & Function
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- 28. Ability of aProduct to Perform Its Functions; Includes Level & Consistency
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- 30. Help to Differentiatethe Product from Those of the Competition
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- 32. Process of Designinga Product’s Style & Design
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- 34. Brand A name, term,sign, symbol, or design, or a combination of these, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those competitors
- 35. What is aBrand? It’s who you are...and what you stand for.
- 36. B E Ton J azz C hildren’s C able Net K nowledge T V Mus eum C hannel B ooknet A rena C las s ical Mus ic T ravel C hannel D IY C lassic A rts S howcase A nimal P lanet New S cience Network BLO O MB E R G NE W S INF O R MA T IO N C -S P A N Noggin T heater C hannel A nthropology P &E O vation O vation A rts & A ntiques S C IE NC E K ID S C IV IL IZ A T IO N E O P
- 37. Why? Because...A Strong Brandis the Heart and “Sole/Soul” of an Organization!
- 38. What Branding Is? A clear identity in the consumer's mind Who you are: Product/service What you stand for: Values/promise A set of associations and feelings
- 39. To Brand orNot to Brand?
- 40. Why Incur theCost & Efforts to Brand?
- 42. Brand Name Selection GoodBrand 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
- 43. Packaging Activity ofdesigning and producing the container or wrapper for Activity of designing and producing the container or wrapper for a product. a product. Packaging used to just contain and protect the product. Packaging used to just contain and protect the product. Activity of designing and producing the container or wrapper for Activity of designing and producing the container or wrapper for a product. a product. Packaging used to just contain and protect the product Packaging used to just contain and protect the product
- 44. Labeling Printed information appearingon or with the package. Performs several functions: Identifies product or brand Describes several things about the product Promotes the product through attractive graphics.
- 45. Product - SupportServices Companies should design its support services to profitably meet the needs of target customers and gain competitive advantage.
- 46. How? How? Step 1 Step 1.Survey customers to assess the value of current . Survey customers to assess the value of current services and to obtain ideas for new services. services and to obtain ideas for new services. Step 2. Step 2. Assess costs of providing desired services. Assess costs of providing desired services. Step 3. Step 3. Develop a package of services to delight customers and Develop a package of services to delight customers and yield profits to the company. yield profits to the company.
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