11.6 how can companies use packaging, labeling, warranties, and guarantees as marketing tools by...
TRANSCRIPT
Setting
Product Strategy
How can companies use packaging, labelling, warranties, and guarantees as marketing tools
Packaging as a marketing tool
Factors contributing to growing use of packaging as a marketing tool
• Self-service– growing number of products
• Consumer affluence– pay a little more for overall impression
• Company and brand image– Instant recognition Ex: Garnier fructis
• Innovation opportunity– benefit to both consumer and producer
E; resealable spouts
Objectives of Packaging
Packaging must achieve a number of objectives:1. Identify the brand. 2. Convey descriptive and persuasive
information. 3. Facilitate product transportation and
protection. 4. Assist at-home storage. 5. Aid product consumption
Packaging- examples
Labelling as a marketing tool
Objectives of labelling
• Identifies the product/brand – ex: Arctic apples
• Describes the product – ex: virgin oil, mfg. date etc
• Promotes the product
Warranty as a marketing tool
Warranties
• Formal statements of expected product performance by the manufacturer
• Legally enforceable
Guarantee as a marketing tool
Why Guarantees?
• Guarantees reduce the buyer's
perceived risk.
• They suggest that the product is of high quality and the company and
its service performance are dependable.
When Guarantees?
• When the company or product is not well known
or
• when the product has superior quality to that of competitors.
Why guarantees and warranties?
• Increase in sales by promoting the product
• Win customer loyalty and good will• Helps in creating a brand
Thankyou!
ByVishnupriya AryabhumiIITMadras
CreditsBackground
www.flickr.com
7 krazyclippers.comwww.arcticapples.comwww.walmart.com
5 www.creativeguerrillamarketing.com
9 www.simplyglas.co.ukwww.foundationrepairservices.comwww.unifiedav.com
11 swift-publishing.comwww.scoreguarantee.inwww.roofingandroofers.com
Based on Chapter 12 of Marketing Management by Kotler Keller Koshy Jha 14th edition Disclaimer"Created by Vishnupriya Aryabhumi, IITMadras, during an internship by
Prof. Sameer Mathur, IIMLucknow.www.IIMInternship.com"