PRODUCT. Key Concepts. Everything, both favorable and unfavorable, that a person receives in an exchange. Tangible Good Service Idea. What Is a Product?. Product. Product. Price. Promotion. Place (Distribution). What Is a Product?.
Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.
Everything, both favorable and unfavorable, that a person receives in an exchange.
Product receives in an exchange.
Place (Distribution)What Is a Product?
Product is the starting point of Marketing Mix
Business receives in an exchange.
A product USEDTO MANUFACTURE OTHER GOODS OR SERVICES, to facilitate an organization’s operations, or to RESELL to other consumers.
A product bought to satisfy an
individual’s PERSONAL NEEDS or wantsBiz vs Consumer Products
Products receives in an exchange.
ProductsTypes of Consumer Products
Increase market share among receives in an exchange.
A relatively INEXPENSIVE item that merits LITTLE shopping effort
A product that requires COMPARISON shopping, because it is usually more expensive and found in fewer stores
Attract new customers to
A particular item for which consumers SEARCH EXTENSIVELY and are reluctant to accept substitutes
Create new products for
A product UNKNOWN to the potential buyer or a known product that the buyer does not actively seek
Introduce new products
into new marketsTypes of Consumer Products
Product Item receives in an exchange.
A SPECIFIC VERSION of a product that can be designated as a distinct offering among an organization’s products.
A GROUP of closely-related product items.
ALL PRODUCTS that an organization sells.Product Items, Lines, and Mixes
Advertising Economies receives in an exchange.
Efficient Sales andDistribution
Equivalent QualityBenefits of Product Lines
Adjustments to Product Items, receives in an exchange.Lines, and Mixes
Extension or ContractionAdjustments
Planned receives in an exchange.Obsolescence
The practice of modifying products so those that have already been sold become obsolete before they actually need replacement.Planned Obsolescence
Why reposition established brands? receives in an exchange.
Changes in Social EnvironmentRepositioning
Product Line receives in an exchange.Extension
Adding additional products to an existing product line in order to compete more broadly in the industry.Product Line Extension
Symptoms of Product Line Overextension receives in an exchange.
Explore the marketing uses of branding
A name, term, symbol, design, or combination thereof that IDENTIFIES a seller’s products and differentiates them from competitors’ products.
Brand receives in an exchange.
That part of a brand that can be SPOKEN, including letters, words, and numbers
The elements of a brand that
CANNOT BE SPOKEN
The VALUE of company and brand names
A brand where at least 20 percent of theproduct is SOLD OUTSIDE its home countryBranding
Product Identification receives in an exchange.
New Product SalesBenefits of Branding
Global receives in an exchange.
5. Al Jazeera
5. PixarTop Five Global and North American Brands
SOURCE: Deborah L. Vence, “Not Taking Care of Business,” Marketing News, March 15, 2005, p. 19.
Brand receives in an exchange.
A no-frills, no-brand-name, low-cost product that is simply identified by its product category.
The brand name of a manufacturer.
A brand name owned by a wholesaler or a retailer. Also known as a private label or store brand.
Using DIFFERENT brand names for different products.
Marketing several different
products under the SAME
Ingredient receives in an exchange.Branding
Types of Cobranding
A Trademark is the exclusive right to use a brand. receives in an exchange.Trademarks
Contain and Protect receives in an exchange.
Facilitate Storage, Use,
Facilitate RecyclingFunctions of Packaging
Persuasive receives in an exchange.
Universal receives in an exchange.Product Codes (UPCs)
A series of thick and thin vertical lines (bar codes), readable by computerized optical scanners, that represent numbers used to track products.Universal Product Codes
One Brand Name receives in an exchange.Everywhere
Global Options for Branding
Adaptations & Modifications
Different Brand Names in Different MarketsGlobal Issues in Branding
Labeling receives in an exchange.
Global Considerations for Packaging
Climate ConsiderationsGlobal Issues in Packaging
Branding Choices: receives in an exchange.
Modify or adapt 1 name
Different names in different markets
ClimateGlobal Issues in Branding and Packaging
Warranty receives in an exchange.
A confirmation of the quality or performance of a good or service.
A written guarantee.
An unwritten guarantee that the
good or service is fit for the purpose for which it was sold. (UCC)