Unit 7 Product, Services and Branding , g Strategy 1 - PowerPoint PPT Presentation

Unit 7 Product, Services and Branding , g Strategy 1 CuuDuongThanCong.com https://fb.com/tailieudientucntt

Road Map: Previewing the Road Map: Previewing the Concepts Define product and the major classifications of products and services. Describe the roles of product and service branding, packaging, labeling, and product support services. Explain the decisions companies make when developing Explain the decisions companies make when developing product lines and mixes. Identify the four characteristics that affect the marketing of a service a service. Discuss the additional marketing considerations for services. 2 CuuDuongThanCong.com https://fb.com/tailieudientucntt

Wh t i What is a Product? P d t? A PRODUCT is anything that can be offered to a market for attention, acquisition, use, or consumption and that might satisfy a want or need. and that might satisfy a want or need. Includes: – Physical Objects – Services S i – Events – Persons – Places – Organisations – Ideas – Combinations of the above 3 CuuDuongThanCong.com https://fb.com/tailieudientucntt

Wh t i What is a Service? S i ? A SERVICE is a form of product that consist of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything. Examples include: E l i l d – Banking – Hotels Hotels – Tax preparation – Home repair services Home repair services 4 CuuDuongThanCong.com https://fb.com/tailieudientucntt

G Goods, Services, and Experiences d S i d E i S Service i Tangible Good With Pure Hybrid Pure With Accompanying p y g Tangible g Offer Service Accompanying Accompanying Minor Goods Good Services Auto With Airline Trip Accompanying With Soap Restaurant Doctor’s Repair Repair Accompanying Accompanying Exam Exam Services Snacks 5 CuuDuongThanCong.com https://fb.com/tailieudientucntt

Nature and Characteristic of a atu e a d C a acte st c o a Service 6 CuuDuongThanCong.com https://fb.com/tailieudientucntt

Illustrate how a movie theatre can deal with the intangibility, inseparability, variability, and perishability of the y, p y services it provides. 7 CuuDuongThanCong.com https://fb.com/tailieudientucntt

L Levels of Product l f P d t 8 CuuDuongThanCong.com https://fb.com/tailieudientucntt

Product Classifications: Consumer P d Cl ifi i C Shopping Products Shopping Products Convenience Products Convenience Products  Buy less frequently  Buy frequently & immediately  Hi h  Higher price  L  Low priced i i d  Fewer purchase locations  Mass advertising  Comparison shop  Many purchase locations i.e Clothing, cars, appliances g, , pp i.e Candy, newspapers i.e Candy, newspapers Unsought Products Unsought Products Specialty Products Specialty Products  New innovations  New innovations  Special purchase efforts  Special purchase efforts  Products consumers don’t  High price  Unique characteristics want to think about  Require much advertising &  Brand identification  Few purchase locations personal selling i.e Life insurance, blood donation i.e Lamborghini, Rolex 9 CuuDuongThanCong.com https://fb.com/tailieudientucntt

What do you think these at do you t t ese products are? A pair of shoes Toilet paper KFC Chicken Burger Mobile phone Iced black coffee Sofa Smoke detector S k d Gucci sunglasses R f i Refrigerator t 10 CuuDuongThanCong.com https://fb.com/tailieudientucntt

Product Classifications: Industrial Materials and Parts Materials and Parts Raw materials, manufactured Raw materials, manufactured , , materials, and parts materials, and parts C C Capital Items Capital Items it l It it l It Industrial products that aid in Industrial products that aid in buyer’s production or operations buyer’s production or operations Supplies and Services Supplies and Services Operating supplies repair/ Operating supplies repair/ Operating supplies, repair/ Operating supplies, repair/ maintenance items maintenance items 11 CuuDuongThanCong.com https://fb.com/tailieudientucntt

Product Classifications: oduct C ass cat o s Other Marketable Entities Activities undertaken to create, maintain, or change the attitudes and behaviour toward the following: g – Organisations - Profit (businesses) and non profit (schools and churches). – Persons – Politicians, entertainers, sports figures, doctors, and Persons Politicians, entertainers, sports figures, doctors, and lawyers. – Places - Business sites, new residents, and tourism. – Ideas (social ideas marketing) – Public health campaigns, Ideas (social ideas marketing) Public health campaigns environmental campaigns, and others such as family planning, or human rights. 12 CuuDuongThanCong.com https://fb.com/tailieudientucntt

I di id Individual Product Decisions l P d t D i i 13 CuuDuongThanCong.com https://fb.com/tailieudientucntt

P Product Attributes d t Att ib t Developing a Product or Service Involves Defining the Benefits that it Will Offer Such as: Ability of a Product to Perform Its Ability of a Product to Perform Its Product Quality Product Quality Functions; Includes Level & Functions; Includes Level & Consistency Consistency Consistency Consistency Differentiates the Product from Differentiates the Product from Product Features Product Features Competitors Products Competitors Products Competitors’ Products Competitors’ Products Product Style Product Style Process of Designing a Product’s Process of Designing a Product’s & Design & Design & Design & Design St le & Usef lness St le & Usef lness Style & Usefulness Style & Usefulness 14 CuuDuongThanCong.com https://fb.com/tailieudientucntt

Branding What is a good brand? g 15 CuuDuongThanCong.com https://fb.com/tailieudientucntt

B Branding di 16 CuuDuongThanCong.com https://fb.com/tailieudientucntt

B Branding di Advantages to Brand Equity Branding g – Higher brand loyalty g y y – Buyers: – Name awareness • Identification – Perceived quality • Quality and value Q lit d l – Strong brand – Sellers associations • Tells a story y – Patents, trademarks, Patents trademarks • Provides legal protection channel relationships • Helps segments markets markets 17 CuuDuongThanCong.com https://fb.com/tailieudientucntt

B Brands and Brand Symbols d d B d S b l Powerful brands such as these have brand as these have brand equity : – Eg. Coca-Cola brand - $69 billion Offers defense against fierce price i t fi i competition. 18 CuuDuongThanCong.com https://fb.com/tailieudientucntt

M j Major Branding Decisions B di D i i 19 CuuDuongThanCong.com https://fb.com/tailieudientucntt

B Benefits of Branding fit f B di Branding distinguishes distinguishes products from com petition Product New Product I dentification Sales Repeat Sales 20 CuuDuongThanCong.com https://fb.com/tailieudientucntt

A An Effective Brand Name Eff ti B d N  I s easy to pronounce  I s easy to recognize and rem em ber  I s easy to recognize and rem em ber  I s short, distinctive, and unique  Describes the product use and  Describes the product, use, and benefits  Has a positive connotation  Reinforces the product im age  I s legally protectable g y p 21 CuuDuongThanCong.com https://fb.com/tailieudientucntt

M Master Brands t B d Zerox Zerox Photocopy Photocopy Mobile phone Nokia I nternet Search I nternet Search Google Google Com puter Dell Car BMW Airline Air Asia Television Sony Fast food Fast food McDonald McDonald 22 CuuDuongThanCong.com https://fb.com/tailieudientucntt

B Branding Strategies di St t i Brand No Brand Manufacturer’s Private Brand Private Brand B Brand d I ndividual I ndividual Fam ily Com bi- I ndividual I ndividual Fam ily Com bi- Brand Brand nation Brand Brand nation 23 CuuDuongThanCong.com https://fb.com/tailieudientucntt

B Branding Strategies di St t i 24 CuuDuongThanCong.com https://fb.com/tailieudientucntt

Four Brand Strategies Product Category Existing New Line Extension Brand Extension Existing Vinamilk Yog Vinamilk Yogurt Flavours t Fla o s B Barbie Electronics bi El t i d Name e Brand M ltib Multibrands d New Brands New Toyota and Lexus 25 CuuDuongThanCong.com https://fb.com/tailieudientucntt

B Brand Strategy d St t Li Line Extension E t i – Existing brand names extended to new forms, sizes, and flavours of an existing product category. g p g y Brand Extension – Existing brand names extended to new or modified product categories. d t t i Multibrands – New brand names introduced in the same product New brand names introduced in the same product category. New Brands – New brand names in new product categories. 26 CuuDuongThanCong.com https://fb.com/tailieudientucntt