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Product, Services, and Branding Strategies. Chapter 9. Objectives. Be able to define product and know the major classifications of products and services. Understand the decisions companies make regarding their individual products and services, product lines, and product mixes. Objectives.

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Product services and branding strategies

Product, Services, and Branding Strategies

Chapter 9


Objectives
Objectives

  • Be able to define product and know the major classifications of products and services.

  • Understand the decisions companies make regarding their individual products and services, product lines, and product mixes.


Objectives1
Objectives

  • Understand how firms build and manage their brands.

  • Know the four characteristics of services and the additional marketing considerations that services require.


Cosmetics companies sell billions of dollars worth of products

Consumers buy more than just a particular smell

The “promise”, image, company, name, package, and ingredients are all part of the product, as are the stores where it is sold.

c

Cosmetics Industry


What is a product
What is a Product? products

  • Anything that can be offered to a market for attention, acquisition, use or consumption.

  • Satisfies a want or a need.

  • Includes:

    • Physical Products

    • Services

    • Persons

    • Places

    • Organizations

    • Ideas

    • Combinations of the above


What is a product1
What is a Product? products

  • Product and service classifications fall into two broad classes based on the types of buyers who use them:

    • Consumer products

    • Industrial products


Product classifications consumer products
Product Classifications productsConsumer Products

  • Convenience Products

  • Buy frequently & immediately

  • Low priced

  • Many purchase locations

  • Includes:

    • Staple goods

    • Impulse goods

    • Emergency goods

  • Shopping Products

  • Buy less frequently

  • Gather product information

  • Fewer purchase locations

  • Compare for:

    • Suitability & Quality

    • Price & Style

  • Specialty Products

  • Special purchase efforts

  • Unique characteristics

  • Brand identification

  • Few purchase locations

  • Unsought Products

  • New innovations

  • Products consumers don’t

  • want to think about

  • Require much advertising &

  • personal selling


Figure 9-1: products

Three Levels of Product


Discussion Question products

Describe the core benefit, actual product, and augmented product aspects of an automobile purchase.


Product classifications industrial products
Product Classifications productsIndustrial Products

Materials

and

Parts

Capital

Items

Supplies

and

Business Services


Industrial products also include business services, such as landscaping, technology, food services, or custodial.


Product Classifications landscaping, technology, food services, or custodial.Other Marketable Entities

  • Marketed to create, maintain, or change the attitudes or behavior toward the following:

  • Organizations - Profit (businesses) and nonprofit (schools and churches).

  • Person - Political and sports figures, entertainers, doctors and lawyers.

  • Place - Business sites and tourism.

  • Social - Reduce smoking, clean air, conservation.


Social marketing promotes ideas or causes for the purpose of improving an individual’s well-being or the well-being of society.


Product service decisions

Individual Product improving an individual’s well-being or the well-being of society.

Product Line

Product Mix

Product attributes

Quality, features, style and design

Branding

Packaging

Labeling

Product support services

Product & Service Decisions

Key Decisions


Individual product decisions

Product Attributes improving an individual’s well-being or the well-being of society.

Branding

Individual Product Decisions

Packaging

Labeling

Product Support Services


Product service decisions1
Product & Service Decisions improving an individual’s well-being or the well-being of society.

  • Innovative product design can help revitalize a company, such as with the Apple iMac.


Product service decisions2
Product & Service Decisions improving an individual’s well-being or the well-being of society.

  • Brand:

    • A name, term, sign, symbol, design, or a combination of these, that identifies the maker or sellers of a product or service.


Product service decisions3
Product & Service Decisions improving an individual’s well-being or the well-being of society.

  • Packaging involves designing a container or wrapper for a product


Product service decisions4
Product & Service Decisions improving an individual’s well-being or the well-being of society.

  • Many aspects of a food product’s label are dictated by law


Product service decisions5
Product & Service Decisions improving an individual’s well-being or the well-being of society.

Support services via the web include FAQ files, email queries, live chat with customer service personnel, and software updates

1-800 Flowers


Product Line Decisions improving an individual’s well-being or the well-being of society.

Product Line Length

Number of Items in the Product Line

Stretching

Lengthen beyond current range

Filling

Lengthen within current range

Downward

Upward


Product Mix Decisions improving an individual’s well-being or the well-being of society.

Width - number of different product lines

Length - total number of items

within the lines

Product Mix -

all the product

lines offered

Consistency

Depth - number of versions of each product


Branding the product
Branding the Product improving an individual’s well-being or the well-being of society.

Brand

  • helps consumers identify the product

  • includes:

    • name, term, symbol, sign, mark

      • trademark -- legal protection of name or sign


Brand should convey meaning
Brand Should Convey Meaning improving an individual’s well-being or the well-being of society.

  • Attributes

    • Polo Ralph Lauren = expensive

  • Benefits

    • what will the product do for you?

  • Values

    • what consumer values ? safety (Volvo)

  • Personality

    • Campbell’s Soup


Brand equity
Brand Equity improving an individual’s well-being or the well-being of society.

  • What is your good name worth?

    • Would you let others use it?

  • Brands may evoke

    • loyalty

    • preference

  • Super Brands

    • names that many people recognize

      • Coca Cola, Kodak, Sony,

  • What do you do to preserve your good name?


Brand strategy

Brand Positioning improving an individual’s well-being or the well-being of society.

Brand Name Selection

Brand Sponsorship

Brand Development

Three levels of positioning:

Product attributes

Least effective

Benefits

Beliefs and values

Taps into emotions

Brand Strategy

Key Decisions


Brand strategy1

Brand Positioning improving an individual’s well-being or the well-being of society.

Brand Name Selection

Brand Sponsorship

Brand Development

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 Strategy

Key Decisions


Brand strategy2

Brand Positioning improving an individual’s well-being or the well-being of society.

Brand Name Selection

Brand Sponsorship

Brand Development

Manufacturer brands

Brand Strategy

Key Decisions


Brand strategy3

Brand Positioning improving an individual’s well-being or the well-being of society.

Brand Name Selection

Brand Sponsorship

Brand Development

Private (store) brands

Costly to establish and promote

Higher profit margins

Brand Strategy

Key Decisions


Brand strategy4

Brand Positioning improving an individual’s well-being or the well-being of society.

Brand Name Selection

Brand Sponsorship

Brand Development

Licensed brands

Name and character licensing has grown

Brand Strategy

Key Decisions


Brand strategy5

Brand Positioning improving an individual’s well-being or the well-being of society.

Brand Name Selection

Brand Sponsorship

Brand Development

Co-branding

Advantages

Broader consumer appeal

Greater brand equity

Efficient means of expansion into new product categories

Limitations

Complex legal contracts

Requires careful coordination of IMC

Requires that partners trust one another

Brand Strategy

Key Decisions


Four brand development strategies

Product Category improving an individual’s well-being or the well-being of society.

Line Extension

Dannon Yogurt Flavors

Brand Extension

Barbie Electronics

Existing

New

Existing

Multibrands

Seiko Lasalle & Pulsar

New Brands

Windex (by acquisition)

Brand Name

New

Four Brand Development Strategies


Services marketing
Services Marketing improving an individual’s well-being or the well-being of society.

  • Services

    • Account for 74% of U.S. gross domestic product.

    • Service industries include business organizations, government, and private not-for-profit organizations.


The goods service continuum
The Goods - Service Continuum improving an individual’s well-being or the well-being of society.

“Pure” Goods

easier to evaluate

Clothing

Furniture

Houses Automobiles

Restaurant Meals

Vacations

Hair Cuts

TV Repair

Legal Services

Medical Diagnosis

“Pure” Services

difficult to evaluate


Continuum of evaluation for different types of products
Continuum of Evaluation for improving an individual’s well-being or the well-being of society.Different Types of Products

Most Services

Most Goods

High in Experience

Qualities

High in Credence

Qualities

High in Search

Qualities


Figure 9-5: improving an individual’s well-being or the well-being of society.

Four Services Characteristics


Businessnow
BusinessNow improving an individual’s well-being or the well-being of society.

Site59 Video Clip

The perishability of services such as airline seats creates special challenges for marketers

Click the picture above to play video


Figure 9-6: improving an individual’s well-being or the well-being of society.

Three Types of Marketing in Services Industries


Service buying behavior
Service Buying Behavior improving an individual’s well-being or the well-being of society.

  • Consumer Decision Making Process for Services

  • - Information Search

  • - Evaluation Criteria for Alternatives

  • - Perceived Risk

  • - Brand Loyalty


Services marketing1
Services Marketing improving an individual’s well-being or the well-being of society.

  • Service Firm Marketing Strategies

    • The Service-Profit Chain

      • Internal Marketing: service firms train and effectively motivate their employees to work as a team to satisfy the customer

      • Interactive Marketing: recognizes that service quality depends heavily on the quality of buyer-seller interaction


Services marketing2
Services Marketing improving an individual’s well-being or the well-being of society.

  • Service Firm Marketing Strategies

    • Managing Service Differentiation

British Airways differentiates its service by offering first-class world travelers private “demi-cabins”


Service quality
Service Quality improving an individual’s well-being or the well-being of society.

  • Elements of Service Quality

  • - Tangibles

  • - Reliability

  • - Responsiveness

  • - Assurance

  • - Empathy


Services marketing3
Services Marketing improving an individual’s well-being or the well-being of society.

  • Service Firm Marketing Strategies

    • Managing Service Quality

      • One method of differentiation

      • Customer retention is often the best measure

      • Top service firms are “customer obsessed”

      • Service recovery and employment empowerment are key

    • Managing Service Productivity

      • Many methods of enhancing productivity

      • Key is to avoid reducing quality


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