©2000 Prentice Hall ObjectivesObjectives ä Product Characteristics ä Building & Managing the Product Mix & Product Lines ä Brand Decisions ä Packaging.

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Presentation transcript:

©2000 Prentice Hall ObjectivesObjectives ä Product Characteristics ä Building & Managing the Product Mix & Product Lines ä Brand Decisions ä Packaging & Labeling

©2000 Prentice Hall Components of the Market Offering Value-based prices Services mix and quality Product features and quality Attractiveness of the market offering

©2000 Prentice Hall Five Product Levels Potential productAugmented product Expected product Basic product Core benefit

©2000 Prentice Hall Specialty Products Unsought Products Shopping Products Buy less frequently > Gather product information > Fewer purchase locations > Compare for: Suitability & Quality Price & Style Convenience Products Special purchase efforts > Unique characteristics > Brand identification > Few purchase locations New innovations > Products consumers don’t want to think about. >Require much advertising & personal selling Buy frequently & immediately > Low priced > Many purchase locations > Includes: Staple goods Impulse goods Emergency goods Consumer-Goods Classification

©2000 Prentice Hall Product Mix Width Width - number of different product lines Length Length - total number of items within the lines Length Length - total number of items within the lines Depth Depth - number of versions of each product Product Mix - all the product lines offered Product Mix - all the product lines offered Consistency

©2000 Prentice Hall Product-Line Length ä Line Stretching ä Downmarket ä Upmarket ä Two-way ä Line Filling ä Line Modernization ä Line Featuring & Line Pruning

©2000 Prentice Hall Two-Way Product-Line Stretch: Marriott Hotels Quality Economy Superior StandardGood Price High Above average Average Low Fairfield Inn (Vacationers) Courtyard (Salespeople) Marriott (Middle managers) Marriott Marquis (Top executives)

©2000 Prentice Hall What is a Brand? AttributesBenefitsValues Culture User Personality

©2000 Prentice Hall Brand Equity No Brand Loyalty (customer will change) No Brand Loyalty (customer will change) Satisfied Customer (no reason to change) Satisfied Customer (no reason to change) Satisfied & Switching Cost Values the Brand (brand as friend) Values the Brand (brand as friend) Devoted to Brand Devoted to Brand

©2000 Prentice Hall An Overview of Branding Decisions Branding Decision Brand No brand Brand- Sponsor Decision Manu- facturer brand Distribu- tor (private) brand Licensed brand Brand- Name Decision Individual brand names Blanket family name Separate family names Company- individual names Brand- Repositioning Decision Reposi- tioning No reposi- tioning Brand- Strategy Decision Line extension Brand extension Multi- brands New brands Cobrands

©2000 Prentice Hall Brand Strategies Brand Extension New Brand Name Product Category Line Extension Existing Multibrands New Brands

©2000 Prentice Hall Good Brand Names: Suggest Product Benefits Distinctive Lack Poor Foreign Language Meanings Suggest Product Qualities Easy to: Pronounce Recognize Remember

©2000 Prentice Hall Why Package Crucial as a Marketing Tool ä Self-service ä Consumer affluence ä Company & brand image ä Opportunity for innovation

©2000 Prentice Hall LabelsLabels IdentifyIdentify DescribeDescribe PromotePromote

ReviewReview ä Product Characteristics ä Building & Managing the Product Mix & Product Lines ä Brand Decisions ä Packaging & Labeling

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