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Created by Geoffrey da Silva
Chapter 8 Outline
8.1
8.2
8.3
8.4
What is a Product?
Product Decisions
Branding Strategy: Building Strong Brands
Services Marketing
Opening Case
LOral: Brand Building in India
8.1
What is a Product?
8.1
Product
Tangible
GOODS
Intangible
SERVICES
Services
At one extreme, the offer may consist of a pure tangible good, such
as soap or toothpaste.
At the other extreme are pure services, for which the offer consists
primarily of a service.
Levels of Products
Levels of Products
Levels of Products
They must then design the actual product and find ways to augment
it in order to create this customer value and the most satisfying
customer experience.
Types of Products
Consumer products
Industrial products
Industrial products
are those purchased
for further processing
or for use in
conducting a business.
Convenience Products
Convenience
products are consumer
products and services
that customers usually
buy frequently,
immediately, and with a
minimum of comparison
and buying effort.
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Shopping Products
Shopping products
are less frequently
purchased consumer
products and services
that customers
compare carefully on
suitability, quality,
price, and style.
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Unsought products
are consumer products
that the consumer
either does not know
about or knows about
but does not normally
think of buying
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8.2
Product Decisions
8.2
Product attributes
Quality
Features
Design
Product Quality
Product Features
The company should periodically survey buyers who have used the
product and ask these questions: How do you like the product?
Which specific features of the product do you like most? Which
features could we add to improve the product?
Product Features
Branding
A brand is a name, term, sign, symbol, or design, or a combination
of these, that identifies the maker or seller of a product or service.
them.
Brands
Advantages of Branding
Advantages of Branding
Packaging
Packaging involves
designing and producing
the container or wrapper
for a product.
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Innovative Packaging
Labeling
Labels perform several functions.
The
The
Labeling
Support services
Support services
Companies
the company can take steps to fix problems and add new
services that will both delight customers and yield profits to the
company.
Support services
Support services
Many companies are now
using a sophisticated mix of
interactive technologies to
provide support services that
were not possible before. For
example, at the Scion Web
site, clicking the Scion Chat
button puts you in real-time
touch with someone who can
answer your questions or help
you design your own
personalized Scion.
(www.scion.com)
Product Line/Mix
A product line is a
group of products
that are closely
related because they
function in a similar
manner, are sold to
the same customer
groups, are marketed
through the same
types of outlets, or
fall within given price
ranges.
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Product width/length
Product Lines
Product
Product
Product Lines
BrANDS has a long product
line for different needs BrANDS
essence of Chicken with Cordyceps for
energy; BrANDS essence of Chicken
with ginseng for stamina; BrANDS
essence of Chicken with Lingzhi and
BrANDS essence of Chicken with
Tangkwei for general well-being;
BrANDS Sesamin with Schisandra for
liver health; BrANDS Calcium Plus
and BrANDS glucosamine for bones
and joints; among others.
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Reasons for
Product Line Decisions
located at the upper end of the market can stretch their lines
downward.
Companies
mix width refers to the number of different product lines the company
carries.
2.Product mix length refers to the total number of items the company carries
within its product lines.
3.Product mix depth refers to the number of versions offered of each product in the
line.
4.Product mix consistency refers to how closely related the various product lines
are in end use, production requirements, distribution channels, or some other way.
Colgate toothpaste
comes in many
varieties.
(www.colgate.com)
A company can increase its business in four ways in terms of its product
mix:
It
It
It
can add more versions of each product, deepening its product mix.
It
8.3
Branding Strategy: Building Strong Brands
8.3
Brand equity
Brands are more than just names and symbols. They are a key
element in the companys relationships with consumers.
Brand equity
Brands vary in the amount of power and value they have in the
marketplace.
Some brandssuch as Apple, Nike, Harley-Davidson, and Disney
become larger-than-life icons that maintain their power in the
market for years, even generations.
These brands win in the marketplace not simply because they deliver
unique benefits or reliable service.
Rather, they succeed because they forge deep connections with
customers.
Brand equity
Brand Equity is
the differential
effect that
knowing the
brand name has
on customer
response to the
product and its
marketing
Brand equity
Brands vary in their power and value in the marketplace. Not only do
strong brands like Coca-Cola, Google, YouTube, Apple, and Wikipedia
deliver unique benefits, they forge deep connections with customers.
Brand equity
Brand equity
Brand equity
Brand evaluation
Brand valuation is the process of estimating the total financial value
of a brand.
Customer Equity
Brand Positioning
Marketers can position brands at any of three levels.
1.They
Brand Positioning
Brand Positioning
SUGGEST BENEFITS
EASY TO SAY/SPELL/READ
DISTINCTIVE
EXTENDABLE
WORKS WORLDWIDE
CAN BE LEGALLY PROTECTED
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dialect.
Hyatt
Many firms try to build a brand name that will eventually become
identified with the product category.
Brand names such as Kleenex, Levis, Scotch Tape, and Ziploc have
succeeded in this.
is the old name of the American flag because it has lots of stars,
stripes, and colors, and looks like a flower.
In
Brand Sponsorship
Brand Sponsorship
A manufacturer has four sponsorship options.
1. The
Private Brands
Hong Kongs Watsons convenience
store chain has branded bottled
water, swabs, tissue paper, and
other sundries under its own
name.
Licensing
Co-branding
Advantages of Co-branding
Limitations of Co-branding
Each partner must trust the other will take good care of its brand.
Multi-brands
Companies often introduce additional brands
in the same category. Thus, Procter & Gamble
markets many different brands in each of its
product categories. Multibranding offers a way
to establish different features and appeal to
different buying motives. It also allows a
company to lock up more reseller shelf space.
LOral markets at least 14 different brands in
China, grouping them in various pricing bands.
The company may end up spreading its resources over many brands
instead of building a few brands to a highly profitable level.
A brands positioning will not fully take hold unless everyone in the
company lives the brand.
The brand audit may reveal brands that need more support, brands
that need to be dropped, or brands that must be rebranded or
repositioned because of changing customer preferences or new
competitors.
Re-branding
Re-branding
8.4
Services Marketing
8.4
Service Characteristics
1. Service
2. Service
Service Characteristics
3. Service
4. Service
Service-Profit Chain
GROWTH AND
PROFIT
SATISFIED LOYAL
CUSTOMERS
GREATER SERVICE
VALUE
PRODUCTIVE
EMPLOYEES
INTERNAL SERVICE
QUALITY
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2. Satisfied
3. Greater
5. Healthy
Internal Marketing
Internal marketing
means that the
service firm must
orient and motivate
its customer-contact
employees and
supporting service
people to work as a
team to provide
customer satisfaction.
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Interactive Marketing
Interactive marketing
means that service quality
depends heavily on the
quality of the buyer-seller
interaction during the service
encounter.
Service Differentiation
Service
Thank
you