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New Products and Services

New Products and Services. Chapter 10. Product. “A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is received in exchange for money or some other unit of value.”. Consumer Goods. Consumer v. industrial goods Consumer goods

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New Products and Services

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  1. New Products and Services Chapter 10

  2. Product • “A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is received in exchange for money or some other unit of value.”

  3. Consumer Goods • Consumer v. industrial goods • Consumer goods • Convenience goods • Shopping goods • Specialty goods • Unsought goods

  4. Products • Product item • Nike Air Jordan • Product line • Nike shoes • Product mix • Nike shoes and clothes • Product width • Product depth Source: http://nike-guidesntips.blogspot.com

  5. Brands • Branding • Brand name • Trade name • Trademarks • Brand personality • Examples: • Brand equity

  6. Benefits of Branding • Product identification • Brand equity • Brand loyalty

  7. More on Brand Equity • The Value of Brand Equity • Intangible assets • Licensing • Naming the Brand • What characteristics should it have?

  8. Branding Strategies • Manufacturer Branding • Multiproduct branding • Multibranding • Private Branding Strategy • Mixed Branding Strategy • Generic Branding Strategy

  9. Manufacturer Branding • Multiproduct Branding • Advantages • Disadvantages • Subbranding • Brand Extension • Co-branding

  10. Manufacturer Branding • Multibranding Strategy • Each product gets its own name • P&G • Advantages • Disadvantages Source: http://retail-guru.com

  11. Private Branding • Manufactures product but sells under the brand name of the retailer or wholesaler Source: http://mypbrand.com

  12. Mixed Branding Strategy • Mix of manufacturer and private branding • Examples:

  13. Generic Branding • No identification other than contents • Less than 1% of grocery purchases are generic Source: http://influentia.typepad.com/blog/2007/12/why-the-generic.html

  14. Packaging and Labeling • Packaging v. Label • Benefits of Packaging • Greenwashing

  15. Warranties • Express warranty • Limited-coverage warranty • Full warranty • Implied warranty

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