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Definition of product vs. service. The importance of branding and packaging ... The total group of products or product lines offered by a company ...

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Presentation Transcript
marketing

Marketing

Product

overview
Overview
  • Definition of product vs. service
  • The importance of branding and packaging
  • Consumer and industrial products
  • Product mix and product line
  • Product differentiation
  • The stages of the product life cycle
marketing mix the four 5 p s
Marketing Mix: The “Four (5) P’s”

P

P

ricing

roduct

P

P

lace

romotion

(Distribution)

P

ackaging

what s a product
What’s a Product?
  • anything that can be offered to a market for attention, acquisition, use, or consumption and that might satisfy a want or need.
  • tangible or intangible
      • Good
      • Service
      • Event
      • Idea (social marketing; recycling; public service ads)
      • Place (tourism)
      • Person (politicians, entertainers, athletes, lawyers)
      • Organization (profit & non-profit)
what s a service
What’s a Service?
  • any activity/benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything.
  • watching a professional sport
  • seeing a movie
  • having clothes cleaned at a dry cleaner
  • getting advice from a lawyer
  • Renting a hotel room
  • depositing $ in a bank
  • traveling on an airplane
  • getting a haircut
  • having car repaired
classifying goods services
Classifying Goods & Services

Specialty Goods

ShoppingGoods

Expense

Items

ConvenienceGoods

Capital Items

Consumer Markets

Industrial Markets

based on WHO will use them; HOW will be used

consumer products
Consumer Products

Based on HOW/WHERE consumers buy them

industrial products
Industrial Products
  • Consumed by businesses
  • Expense Items
    • Consumed within 1 year
    • Include raw materials, parts, supplies
    • At SMC?
  • Capital Items:
    • Permanent (expensive)
    • Buildings, fixed equipment
    • At SMC?

Classified according to COST and USE

packaging
Packaging
  • Functional benefits
    • Convenience
    • Protection
    • Storage
  • Promotional/Communication benefits
    • Directions
    • Legal requirementsor product disclosure
  • Perceptual Benefits
    • Color
    • Connote status, economy, quality
product line product mix
Product Line & Product Mix
  • Product Mix
    • The total group of products or product lines offered by a company
  • Product Line
    • A group of closely related product items
product line product mix13
Product Line & Product Mix

Product line (depth)

Product Mix (width)

product differentiation by branding
Product Differentiation by Branding
  • Brand
  • Brand Name
  • Trademark
trade characters
Trade Characters

Mr. Clean (Procter & Gamble)

Quaker Oats

Kellogg’s

Aflac

Geico

types of brands
Types of Brands
  • National brands/Manufacturer’s Brand
    • Producers are identified with their products
  • Licensed brands
    • The manufacturer sells the license for the brand name or symbol to be put on accessories.
  • Private brands
    • Retailers or wholesalersselling products under their own private (= non-manufacturer) label
product differentiation
Product Differentiation
  • Definition: “the creation of a product or product image that differs enough from existing products to attract customers”
  • Standardized/homogeneous products
    • Example—fast food: juicier hamburgers, crispier fries

New!

All Natural

99% Fat Free

Improved!

125 calories

product life cycle
Product Life Cycle

Music CDs

iPod

iPhone

Analog cameras

Hydrogen car

summary
Summary
  • Products vs. Services
  • Classification
  • Strategic Decisions
  • Product Mix vs. Product Line
  • Branding
  • Packaging
  • The Product Life Cycle
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