Product Strategies

Branding

Brand: Name, term, symbol, design, or combination of these that identifies the sellers goods and services and distinguishes them from competitor’s products.

Brand Name: Part of the brand that can be vocalized

Trademark: Brand, part of brand, or brand name that is registered for 20 years with the US Patent Office and is given legal protection for the exclusive use of the seller

ADV to Marketer - Perhaps the only thing competitors can’t copy -Often the most distinguishing characteristic -Helps encourage customer loyalty -Helps ease new product intro

ADV to Retailer Brands attract customers Important part of retailer’s image

ADV to Customer Distinguishes between goods Simplifies shopping Indication of product quality Reduces consumer perceived risk

STEPS in Brand Name development Identify objectives Generate brand name alternatives Screen the alternatives Conduct trademark search Research consumers opinions Select brand name

Characteristics of a Good Brand Name

1. It should Identify product and set it apart from competition 2. Should describe product or its function 3. Should communicate an Important quality Inherent in the product 4. Should be memorable and easy to pronounce

Branding Policies Manufacturer’s vs. Distributor’s Brand Generic Brands

Packaging 1. Functional Utility 2. Facilitate Promotional Communication

Factors in Package Design 1. Environmental and resource considerations 2. Financial and cost factors 3. Gov’t regulations