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Strategic Marketing Fall 2005 Tinker AFB Campus. Chapter Eleven Setting Product and Brand Strategy. The Product and the Product Mix. Product is anything that can be offered to a market to satisfy a want or need. [Fig. 11.1, p. 212] Product Levels [Fig. 11.2, p. 213] core benefit,

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Strategic MarketingFall 2005Tinker AFB Campus

Chapter Eleven

Setting Product and Brand Strategy


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The Product and the Product Mix

Product is anything that can be offered to a market to satisfy a want or need. [Fig. 11.1, p. 212]

  • Product Levels [Fig. 11.2, p. 213]

    • core benefit,

    • basic product,

    • expected product,

    • augmented product (beyond expectations, where most competition takes place), and

    • potential product (future augmentation possibilities)

  • All five levels provide a customer value hierarchy


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Product Hierarchy

  • need family

  • product family

  • product class

  • product line,

  • product type

  • brand

  • item


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Product Classifications

  • Durability and Tangibility - nondurable goods, durable goods, and servIces

  • Consumer-Goods Classification - convenience, specialty, shopping, and unsought

  • Industrial-Goods Classification - materials and parts, capital items, and supplies and business services


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Product Mix

  • A product mix (product assortment) is the set of all products and items that a particular sellers offers for sale to buyers.

  • The marketer must consider width, length, depth, and consistency.


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Product-Line Decisions

A product line is a group of products that are closely related because they perform a similar function, are sold to the same customer groups, are marketed through the same channels, or fall within given price ranges.


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Product-Line Analysis - Sales and profits of each item.

  • Sales and Profits - Margin differences related to core product, staples and convenience items.

  • Market Profile - Positioning against competitors.


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Product-Line Length

  • A line is too short if the manager can increase profits by adding items; the line is too long if the manager can increase profits by dropping items.

    • Line Stretching

      • Downmarket stretch - enter on the low end

      • Upmarket stretch - enter on the high end

      • Two-way stretch - both directions

      • Line filling - adding more items (line filling and just-noticeable differences)


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Line Modernization - Featuring and Pruning

  • Updating product line to reflect current trends and themes

  • Line Featuring - Select one or a few items in the line to feature.

  • Line Pruning - When a product is depressing profits, or a company is short of production capacity.


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Brand Decisions

Price premium with Brand-Name Companies.

What is a 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 the competition.

  • A brand has six levels of meaning: attributes, benefits, values, culture, personality, and user. [Table 11.1, p. 217]

  • Researching the position the brand occupies in the consumer mind. Key concepts include word associations, personifying the brand, and brand essence.


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Brand Equity

Issues related to brand name, logo, colors, tagline, and symbol.

  • Brand awareness, acceptability, preference and loyalty

  • A positive equity related to recognition, perceived quality, and emotional associations.

  • Provides differential effect to give the company more competitive marketing leverage.

  • Value of Brand Equity - Positive differential effect of brand on the customer.


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Brand Equity (cont.)

  • Brand Valuation - Total financial value of the brand.

  • Competitive advantages for high brand equity:

  • Trade leverage in channel bargaining.

  • Higher price.

  • Line extensions easier.

  • Defense against price competition.

  • Managing Brand Equity - Mismanagement is a problem today in the quest for ever-increasing profits - brand loses focus.


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Branding Challenges[Fig. 11.3, p. 219]

  • To Brand or Not To Brand?

  • Brand-Sponsor Decision

    • Manufacturer brand, distributor brand, licensed brand name

    • Brand ladder - Customer ranking of brands

    • Growing power of retailer brands -price orientation

    • Blurring of brand identity

    • Internet considerations


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Brand Name Decision[Brand Name Strategies - Table 11.2, p. 221]

  • Should be connected to the brand's benefits and qualities.

  • Should be distinctive and easy to identify or recall.

  • Should provide positive images.


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Line Extensions

  • Additional items in the same product category

  • Useful, but firms should avoid the "line-extension trap."


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Brand Extensions

  • Existing brand name in a new product category.

  • Watch for carryover of poor images and brand dilution.


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Multibrands, New Brands, and Co-Brands

  • Multibrands - Additional brand names in the same product category.

  • New Brands - New brand names in a new product category.

  • Co-brands - Two well-known brand names combine in one product offering.


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Brand Auditing and Repositioning

  • Note brand report card.

  • Brand Repositioning - Changing customer preferences, or competition.


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Packaging and Labeling

Packaging - All the activities of designing and producing the container for the product.

  • Levels of Material - Primary, secondary, and shipping package.

  • Promotional Value - Self-service, Consumer affluence, Company and brand image, and Innovation opportunity.

  • Labeling

    • Identify, grade, describe, or promote the product.

    • Legal concerns for labels and packaging.


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