Presentation on theme: "Marketing Quality Circle. After reading this chapter, students should: Know what are the characteristics of products and how do marketers classify products."— Presentation transcript:
After reading this chapter, students should: Know what are the characteristics of products and how do marketers classify products. Know how companies can differentiate products Know how a company can build and manage its product mix and product lines Know how companies can combine products to create strong co- brands or ingredient brands Know how companies can use packaging, labeling, warranties, and guarantees as marketing tools Know what a is brand and how branding works Know what brand equity is Know how a firm can choose and communicate an effective positioning in the market Know how brands are differentiated Marketing Quality Circle
Identifying and establishing brand positioning Planning and implementing brand marketing Measuring and interpreting brand performance Growing and sustaining brand value
Marketing Quality Circle A brand is a name, term, sign, symbol or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.
Marketing Quality Circle A product is anything that can be offered to a market to satisfy a want or need, including physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas.
Marketing Quality Circle Product levels: The Customer-Value Hierarchy Product Classification Product and Brand Relationships
Core Product Attributes Styling Colour Brand Name Packaging Quality Instructions Manual After sales services Delivery points & systems Installation (for bulky products) Customer education and Training Customer complaint management Payment options (for high priced prod- cts) Replacement or returns policy Guarantees & warranties Core Product Formal Product Augmented Product Future Product The total product concept
Marketing Quality Circle Industrial products Consumer products Product Materials and parts Supplies and services Capital itemsSpecialty Shopping Unsought Convenience
Marketing Quality Circle Marketing Consideration ConvenienceShoppingSpecialtyUn-sought Customer buying behavior Frequent purchases Less frequent purchase Special purchase effort Little product awareness PriceLowHigherhighvaries DistributionWidespread Distribution Convenient location Selective distribution in fewer outlets Exclusive in one or few outlets. varies PromotionMass promotionAdvertising and personal selling More carefully targeted promotion by both. Aggressive advertising and personal selling ExampleToothpaste, soap, candy Television, furniture Luxury items, Rolex watches. Life insurance, blood donations
Marketing Quality Circle Positioning is the act of designing the company’s offering and image to occupy a distinctive place in the mind of the target market.
Marketing Quality Circle Perdue Chicken More tender golden chicken at a moderate premium price Domino’s A good hot pizza, delivered to your door within 30 minutes of ordering, at a moderate price
Marketing Quality Circle Points-of-difference (PODs) Attributes or benefits consumers strongly associate with a brand, positively evaluate, and believe they could not find to the same extent with a competitive brand Points-of-parity (POPs) Associations that are not necessarily unique to the brand but may be shared with other brands
Marketing Quality Circle Prices Distribution Advertising Sales promotion Services
Marketing Quality Circle Convert nonusers Enter new market segments Attract competitors’ customers Have consumers use the product on more occasions Have consumers use more of the product on each occasion Have consumers use the product in new ways