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What We Will Discuss Today. What is a product? Attributes Brand Packaging. What is a Product?. A Definition. a product is anything that can be offered to someone to satisfy a need or a want. Types of Products (Durability). Durable Goods : tangible goods that survive many uses.

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what we will discuss today
What We Will Discuss Today
  • What is a product?
  • Attributes
  • Brand
  • Packaging
a definition
A Definition
  • a product is anything that can be offered to someone to satisfy a need or a want
types of products durability
Types of Products(Durability)
  • Durable Goods: tangible goods that survive many uses.
  • Nondurable Goods: tangible goods that normally are consumed in one or a few uses.
  • Services: activities, benefits or satisfactions offered for sale. Generally consumed as they are created.
types of products consumer goods 1
Types of Products(Consumer Goods 1)
  • Convenience Goods: goods that are purchased frequently, immediately and with a minimum of effort.
    • staples
    • impulse goods
    • emergency goods
  • Shopping Goods: goods that are compared on the basis of quality, price, style, etc.
types of products consumer goods 2
Types of Products(Consumer Goods 2)
  • Specialty Goods: goods with unique characteristics or brand identifications which a group of buyers regularly seek.
  • Unsought Goods: goods that the consumer does not know about or does not think about buying.
  • Quality
  • Features
  • Design
the product life cycle assumptions
The Product Life Cycle(Assumptions)
  • Products have a limited life.
  • Product sales pass through distinct stages, each posing different challenges to the seller
  • Profits rise and fall at different stages of the life cyle.
the product life cycle stages
The Product Life Cycle(Stages)
  • Introduction: a period of slow sales growth. Profits are low due to R&D expenses.
  • Growth: rapid market acceptance and profit improvement.
  • Maturity: sales growth slow, profits flatten, increased competition
  • Decline: sales decline, profits erode
brand decisions 1
Brand Decisions 1
  • Brand: a name, symbol or logo intended to identify the goods or services of one seller.
    • Do we need one?
  • Brand Name: that part of the brand name which can be vocalized.
brand decisions 2
Brand Decisions 2
  • Brand Equity: the differential marketing effect of the existence or absence of a brand name.
    • Why is there brand equity?
    • How much is a brand name worth?
brand awareness
Brand Awareness
  • Recognition: Have I seen it before?
  • Recall: What have I seen before?
brand image
Brand Image
  • associations linked to the brand in memory
  • attributes, benefits or attitudes
brand decisions 3
Brand Decisions 3
  • Brand Extensions: the extension of an existing brand name onto products in a different product category.
    • What are the benefits and risks?
  • Line Extensions: the addition of products to existing products in a product category.
brand equity over time
Brand Equity Over Time
  • Introductory Stage
    • establish brand image
    • increase brand awareness
  • Elaboration
    • introduce line extensions
  • Fortification
    • introduce brand extensions
functions of packaging
Functions of Packaging
  • Product protection
  • Convenience
  • Promotion
    • Package should be
      • Visible
      • Informative
      • Emotionally Appealing
  • Change in consumption patterns
what we discussed today
What We Discussed Today
  • What is a Product?
  • Product Decisions
    • Attributes
    • Brand
    • Packaging