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Principles of Marketing. Lecture-20. Summary of Lecture-19. Marketing Mix 4 Ps. Levels of Products. Augmented Product. Installation. Packaging. Features. Brand Name. Delivery & Credit. After- Sale Service. Core Benefit or Service. Quality Level. Design. Warranty. Core - PowerPoint PPT Presentation
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Principles of Marketing
Lecture-20
Summaryof
Lecture-19
Marketing Mix4 Ps
Levels of Products
BrandName
QualityLevel
Packaging
Design
Features
Delivery& Credit
Installation
Warranty
After-Sale
Service
CoreBenefit
orService
CoreBenefit
orService
ActualProduct
ActualProduct
CoreProduct
CoreProduct
AugmentedProduct
AugmentedProduct
Product Classifications
Today’s Topics
Product
BrandName
QualityLevel
Packaging
Design
Features
Delivery& Credit
Installation
Warranty
After-Sale
Service
CoreBenefit orService
CoreBenefit orService
Actual ProductActual Product Core ProductCore Product
Augmented ProductAugmented Product
Individual Product Decisions
Product Attributes
Branding
Packaging
Labeling
Product Support Services
Developing a Product or Service Involves
Defining the Benefits that it Will Offer
Product Attributes
QualityQualityQualityQuality FeaturesFeaturesFeaturesFeatures
DesignDesignDesignDesign
Product Attribute Decisions
Product Quality Product Quality
Product FeaturesProduct Features
Product Style & Design
Product Style & Design
Ability of a Product to Perform Its Functions; Includes Level &
Consistency
Ability of a Product to Perform Its Functions; Includes Level &
Consistency
Help to Differentiate the Product from Those of the Competition
Help to Differentiate the Product from Those of the Competition
Process of Designing a Product’s Style & Function
Process of Designing a Product’s Style & Function
ProductProductQualityQuality
ProductProductQualityQuality
Ability of a Product to Perform Its
Functions; Includes Level & Consistency
Product Product FeaturesFeaturesProduct Product FeaturesFeatures
Help to Differentiate the Product from
Those of the Competition
ProductProductDesignDesign
ProductProductDesignDesign
Process of Designing a
Product’s Style & Design
Branding
BrandA name, term, sign, symbol, or
design, or a combination of these, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those competitors
What is a Brand?
It’s who you are...and what you stand for.
B E T on J azz
C hildren’s C able N et
KnowledgeTV
MuseumC hannel
Booknet
ArenaC lassical
Music
T ravel C hannel
D IY
C lass ic A rtsS howcase
A nimalP lanet
N ew S cienceN etwork
B LO O M B E R GN E W S IN F O R M A T IO N
C -S P A N
Noggin
T heaterC hannel
AnthropologyP&E
OvationOvation
Arts & Antiques
S C IE N C E
K ID SC IV IL IZA T IO N
E O P
Why? Because...A Strong Brand is the Heart and “Sole/Soul” of an Organization!
What Branding Is?A clear identity in the
consumer's mindWho you are: Product/serviceWhat you stand for:
Values/promiseA set of associations and
feelings
To Brand or Not to Brand?
Why Incur the Cost & Efforts
to Brand?
Brand Name Selection
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 Sponsorship
Manufacturer brands
Private (store) brands
Licensed brands
Co-branding
Brand Development
Line Extension
Multibrands
Brand Extension
New BrandsBra
nd
Nam
e
Existing New
Product Category
Existing
New
Four Brand Strategies
BrandingRejection
Nonrecognition
Recognition
Preference
Insistence
Change Position
Increase Awareness
Continue Education
Maintain Availability
Develop High Brand Equity
Focus:
Focus:
Focus:
Focus :
Focus :
Packaging
Activity of designing and producing the container or wrapper for a product.
Packaging used to just contain and protect the product.
Labeling
Printed information appearing on or with the package.
Performs several functions:
–Identifies product or brand
–Describes several things about the product
–Promotes the product through attractive graphics.
Companies should design its support services to profitably meet the needs of target customers and gain competitive advantage.
Product - Support Services
How?Step 1. Survey customers to assess the value of current services and to obtain ideas for new services.Step 2. Assess costs of providing desired services.Step 3. Develop a package of services to delight customers and yield profits to the company.
Enough for today. . .
Summary
Individual Product Decisions
Product Attributes
Branding
Packaging
Labeling
Product Support Services
QualityQualityQualityQuality FeaturesFeaturesFeaturesFeatures
DesignDesignDesignDesign
Branding
Brand Development
Line Extension
Multibrands
Brand Extension
New BrandsBra
nd
Nam
e
Existing New
Product Category
Existing
New
Four Brand Strategies
Packaging
Labeling
Companies should design its support services to profitably meet the needs of target customers and gain competitive advantage.
Product - Support Services
Next….
Product (cont..)
Principles of Marketing
Lecture-20