1.   Product   Quality   Service   Product assortment   Product line   Individual product   Consumer products   Business products   Derived demand   Convenience products   Staples   Impulse products   Emergency products   Shopping products   Homogeneous shopping products   Heterogeneous shopping products MKT 304 Chapter 8 Key Concepts Product Planning   Specialty Products   Unsought Products   Installations   Capital item   Accessories   Raw materials   Expense item   Farm products   Natural products   Components   Supplies   Professional services   Branding

2.   Brand name   Trademark   Service mark   Brand equity   Lanham Act   Family brand   Licensed brand   Individual brands   Generic products   Manufacturer brands   Dealer brands   Private brands   Battle of the brands   Packaging   Universal Product Code (UPC) MKT 304 Chapter 8 Key Concepts Product Planning (continued)   Federal Fair Packaging and Labeling Act   Unit-pricing   Warranty   Magnuson-Moss Act

3. The Marketing Mix (The Four P’s) Place Promotion Price Product C

4. The Product Area Involves Many Strategy Decisions Exhibit 8-1

5. Product Line –A set of individual products that are closely related –Example: Horizon Organic Foods Product Assortment –All the product lines and individual products that a company sells Product Lines & Assortments

6. Specialty Products Convenience Products Impulse Products Emergency Products Staples New Unsought Products Regular Unsought Products Unsought Products Homogenous Shopping Products Heterogenous Shopping Products Shopping Products Convenience Products Impulse Products Emergency Products Homogenous Shopping Products Heterogenous Shopping Products Shopping Products Specialty Products Staples Consumer Product Classes

7. MRO Supplies Component Parts & Materials Raw Materials Accessories Installations Business Product Classes – How They Are Defined Professional Services Business Product Classes Business Product Classes

8. Short & Simple Easy to Spell & Read Easy to Recognize & Remember Easy to Pronounce Can Pronounce in Only One Way Can Pronounce in All Languages Suggests Product Benefits Meets Packaging/Labeling Needs No Undesirable Imagery Always Timely Adapts to Any Advertising Medium Legally Available for Use Branding Builds Brand Equity

9. You Must Protect Your Own Lanham Act Counterfeiting is Accepted In Some Cultures Protecting Brand Names & Trademarks © 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin

10. Individual Brand Individual Brand Individual Brand Individual Brand Licensed Brand Licensed Brand Licensed Brand Licensed Brand Family Brand Brand Choices Family Brand What Kind of Brand to Use? © 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Generic Brand

11. © 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Battle of the Brands Manufacturer Brands Manufacturer Brands Also called national brands Created/owned by producers Develop demand across many markets Dealer Brands Also called private brands or store brands Created/owned by middlemen Create higher margins for dealers Who Should Do the Branding?

12. Packaging Can Lower Distribution Costs Packaging Can Lower Distribution Costs Packaging Can Lower Distribution Costs Packaging Can Lower Distribution Costs Packaging Sends a Message Packaging Sends a Message Packaging Sends a Message Packaging Sends a Message Packaging Can Enhance the Product Packaging Can Enhance the Product Packaging Can Enhance the Product Packaging Can Enhance the Product © 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin The Strategic Importance of Packaging UPC Codes Speed Handling UPC Codes Speed Handling

13. Laws Reduce Confusion & Clutter Ethical Issues Remain Unit Pricing May Help © 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin What Is Socially Responsible Packaging?

14. Promises in Writing Promises in Writing Service Guarantees May improve Marketing Mix May Improve Marketing Mix Magnuson- Moss Act Support May Be Costly © 2003 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Warranty Policies Are a Part of Policy Planning