The document discusses strategies for product, service, and brand management. It defines products, services, and experiences and covers topics like product classification, branding, developing product lines and mixes, and marketing strategies specific to services. Product and service decisions involve determining attributes, packaging, labeling, and support while branding involves creating value and differentiation through elements, positioning, and development.
Product-Definition
A product may be regarded from the marketing point of view as a bundle of benefits which are being offered to consumer.”
Layers of product
Product-Features
Explicit Characteristics:
Physical configuration:
Associated services:
Package and brand name:
Product mix:
. Product-life-cycle:
Implicit Characteristics
Product perception & Evaluation
Product-Definition
A product may be regarded from the marketing point of view as a bundle of benefits which are being offered to consumer.”
Layers of product
Product-Features
Explicit Characteristics:
Physical configuration:
Associated services:
Package and brand name:
Product mix:
. Product-life-cycle:
Implicit Characteristics
Product perception & Evaluation
Chapter 8 product, service, and brands (building customer value)Lance Üü
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Maanagement of Marketing UNIT-3 &4 product.pptetebarkhmichale
The law of attraction is the most powerful force in the universe. If you work against it, it can only bring you pain and misery. Successful people know this but have kept it hidden from the lower class for centuries because they did not want to share their wealth. The universal law of attraction is simple. We attract whatever we choose to give our attention to. If we focus on bad things, we will attract more bad things. But the minute you stop focusing on bad and focus on good, you change the pattern and now good things start coming your way.
If we knew the law of attraction and applied it in our lives daily, we would have so much power and control that it would be scary. We could have what we wanted, and when we wanted it. We would have total control of our lives. If you think of yourself as a powerful attractor, you will attract more of what you want in your life, simply by thinking about it, then acting on it. But there is one ingredient you cannot leave out or the law of attraction won't work.
When we think of an object in our mind, we then send that image to our hearts and act on it with emotion. A formula makes this easy to follow: TFAR (Thoughts, Feelings, Actions, and Results) When we take necessary action, the universe shows up and gives us the results we wanted.
The law of attraction works by performing three steps. And these steps must be done for the process to work. These steps are:
1. Getting clear. You must know what it is you want or else you won’t get it. The universe won’t know what you are asking for, so how can it deliver?
2. Vibrate to the level of energy corresponding to what you want. If you want something and you think about it, feel it, and act on it, you must keep that level of energy going until you achieve the results you are after.
3. Attract what you want like a magnet. If you focus on what you want but don’t allow it to come into your life, it won’t. You have to be willing to accept it and acknowledge it. Then when you act, it will occur.
Whatever you do during the course of a day, whatever thoughts you think about, you are attracting. If you use it every day, regularly, and practice it this way, you will eventually find that it becomes a habit that you will subconsciously practice.
You may not believe it, but the steps you need to take are easy. But you must do them, believe in them, and believe in yourself, or they will not work. Are you ready to get tuned into the universe and get clear? Can you work in harmony with the laws of the universe and become successful?
If so here are the steps you need to follow:
1. Get clear. You must know exactly what it is you want. If you are in doubt, vague, or too general, you won’t get anywhere. You must know exactly what it is you want first. Only then will you be able to focus and concentrate on that thought?
2. Visualize what you want and vibrate to it. You must form a mental image in your mind so you can see it as if you had it in your possession. For women, you can do the
Product, Services, and Brands - Building Customer Value - MarketingFaHaD .H. NooR
What Is a Product?
Product and Services Decisions
Branding Strategy: Building Strong Brands
Services Marketing
A Product is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a need or want
Experiences represent what buying the product or service will do for the customer
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
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Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
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Memorandum Of Association Constitution of Company.pptseri bangash
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A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
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Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
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Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
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Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
1. Chapter 8 - Product, Services, and Branding Strategy
Market offerings may consist of a combination of goods and services
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.
Experience: Experiences represent what buying the product or service will do for the customer. They are
used to differentiate offerings.
•Levels of Product and Services
Core benefit,
Actual (Quality level , Features , Brand name, Packaging)
Augmented product (Warranty, Customer Training, After Sales Service)
•Product and Service Classifications
Consumer products and industrial products
Product Classification Schemes
1. Durability, 2. Tangibility, 3. Use
Product Classifications
1. Consumer products: Products & Services for Personal Consumption.
They are classified by how consumers buy them.
Convenience Products Shopping Products
Buy frequently & immediately Buy less frequently
Low priced Higher price
Mass advertising Fewer purchase locations
Many purchase locations Comparison shop
i.e Candy, newspapers i.e Clothing, appliances, Furniture, Cars
Specialty Products Unsought Products
Special purchase efforts New innovations
High price Products consumers don’t want to think about
Unique characteristics these products
Brand identification Require much advertising & personal selling
Few purchase locations i.e Life insurance, blood donation
2. Industrial products: Purchased for further processing or for use in conducting a business
Materials and parts include raw materials and manufactured materials and parts usually sold
directly to industrial users
Capital items are industrial products that aid in the buyer’s production or operations
Supplies and services include operating supplies, repair and maintenance items, and
business services
Product and Service Decisions
1. Individual Product
a. Product attributes: Describe the main product features, major benefits received by those who use
the product : Quality, features, style and design
Quality: Quality is when our customer come back and our products don’t
Performance Quality
Conformance Quality
Features: are competitive tools for differentiating a product from competitors’ products
Product features are assessed based on the value to the customer versus the cost to the
company
Design & Style:
Design is larger concept. It contributes to a product’s usefulness as well as to its
looks
Style describes the appearance of the product
Good design starts with a good understanding of customer need
Examples: P& G’s Swiffer, Kryptonite
b. Branding
1
2. c. Packaging 5th P: All the activities of designing and producing the container for a product.
Packaging has been influenced by…
Self-service
Consumer affluence
Company/brand image
Innovation opportunity
d. Labeling:
Functions of Labels:
Identifiers
Grades
Describes
Promotes
e. Product support services
2. 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
a. Product line length
Line stretching: adding products that are higher or lower priced than the existing line
Line filling: adding more items within the present price range
b. Product line length
3. Product Mix: Also known as product assortment. Consists of all the product lines and items that a
particular seller offers for sale
• Product mix width: Number of different product lines carried by company
• For Example: Colgate offers personal care products-(4,5) (soft-soap, body wash, etc)
3M (60,000), Wal-Mart (100,000 to 120,000), GE (250,000)
• Product mix depth: Number of different versions of each product in the line (Lifebuoy)
• Product mix consistency: How closely related various products lines-in use, production
requirement, distribution
Brand: Brand represents the consumer’s perceptions and feelings about a product and its performance. It
is the company’s promise to deliver a specific set of features, benefits, services, and experiences
consistently to the buyers
(Old Definition) 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.
The Role of Brands
Identify the maker
Simplify product handling
Organize accounting
Offer legal protection
Signify quality
Create barriers to entry
Serve as a competitive advantage
Secure price premium
Brand Equity: The differential effect that brand knowledge has on consumer response to the
marketing of that brand.
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
Brand Elements: Brand Names, URLs, Logos, Symbols, Characters, Slogans,
2
3. Companies often create product icons to develop an identity for their products. Many made-up creatures
and personalities, such as safeguard and Michelin, are widely recognized figures in popular culture.
Marinda these days is trying to create one
Brand Element Choice Criteria
1. Memorable 2. Meaningful 3. Likeability
4. Transferable 5. Adaptable 6. Protectible
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
Brand Strategy
•Brand Positioning: Three levels of positioning
1. Product attributes (Least effective)
2. Benefits
3. Beliefs and values ( Taps into emotions)
•Brand Name Selection:
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
•Brand Sponsorship
•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
•Brand Development
Four Brand Strategies
Services Marketing
Services: Service industries include business organizations, government, and private not-for-profit
organizations.
Accounts for 74% of U.S. gross domestic product.
Accounts for more than 80% of UK GDP
Characteristics of Services
1. Intangibility
Services can’t be seen, tasted, felt, heard, or smelled before purchasing
Consumers look for service quality signals
2. Inseparability
Services can’t be separated from providers
3. Variability
3
4. Quality of service depends upon who provides them & when, where and how.
Employees an d other factors result in variability
4. Perish ability
Services can’t be stored/inventoried for later sale
Marketing Strategies for Service Firms
In addition to traditional marketing strategies, service firms often require additional strategies
• Service-profit chain links service firm profits with employee and customer satisfaction
• Internal marketing means that the service firm must orient and motivate its customer contact
employees and supporting service people to work as a team to provide customer satisfaction
• Internal marketing must precede external marketing
• Interactive marketing means that service quality depends heavily on the quality of the buyer-
seller interaction during the service encounter
1. Service differentiation
2. Service quality
3. Service productivity
1. Managing service differentiation creates a competitive advantage from the offer, delivery, and
image of the service
• Offer can include distinctive features
• Delivery can include more able and reliable customer contact people, environment, or
process
• Image can include symbols and branding
2. Managing service quality provides a competitive advantage by delivering consistently higher
quality than its competitors
• Service quality always varies depending on interactions between employees and
customers
3. Managing service productivity refers to the cost side of marketing strategies for service firms
• Employee recruiting, hiring, and training strategies
• Service quantity and quality strategies
4