Principles of Marketing

Lecture-20

Summaryof

Lecture-19

Marketing Mix4 Ps

Levels of Products

BrandName

QualityLevel

Packaging

Design

Features

Delivery& Credit

Installation

Warranty

After-Sale

Service

CoreBenefit

orService

CoreBenefit

orService

ActualProduct

ActualProduct

CoreProduct

CoreProduct

AugmentedProduct

AugmentedProduct

Product Classifications

Today’s Topics

Product

BrandName

QualityLevel

Packaging

Design

Features

Delivery& Credit

Installation

Warranty

After-Sale

Service

CoreBenefit orService

CoreBenefit orService

Actual ProductActual Product Core ProductCore Product

Augmented ProductAugmented Product

Individual Product Decisions

Product Attributes

Branding

Packaging

Labeling

Product Support Services

Developing a Product or Service Involves

Defining the Benefits that it Will Offer

Product Attributes

QualityQualityQualityQuality FeaturesFeaturesFeaturesFeatures

DesignDesignDesignDesign

Product Attribute Decisions

Product Quality Product Quality

Product FeaturesProduct Features

Product Style & Design

Product Style & Design

Ability of a Product to Perform Its Functions; Includes Level &

Consistency

Ability of a Product to Perform Its Functions; Includes Level &

Consistency

Help to Differentiate the Product from Those of the Competition

Help to Differentiate the Product from Those of the Competition

Process of Designing a Product’s Style & Function

Process of Designing a Product’s Style & Function

ProductProductQualityQuality

ProductProductQualityQuality

Ability of a Product to Perform Its

Functions; Includes Level & Consistency

Product Product FeaturesFeaturesProduct Product FeaturesFeatures

Help to Differentiate the Product from

Those of the Competition

ProductProductDesignDesign

ProductProductDesignDesign

Process of Designing a

Product’s Style & Design

Branding

BrandA name, term, sign, symbol, or

design, or a combination of these, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those competitors

What is a Brand?

It’s who you are...and what you stand for.

B E T on J azz

C hildren’s C able N et

KnowledgeTV

MuseumC hannel

Booknet

ArenaC lassical

Music

T ravel C hannel

D IY

C lass ic A rtsS howcase

A nimalP lanet

N ew S cienceN etwork

B LO O M B E R GN E W S IN F O R M A T IO N

C -S P A N

Noggin

T heaterC hannel

AnthropologyP&E

OvationOvation

Arts & Antiques

S C IE N C E

K ID SC IV IL IZA T IO N

E O P

Why? Because...A Strong Brand is the Heart and “Sole/Soul” of an Organization!

What Branding Is?A clear identity in the

consumer's mindWho you are: Product/serviceWhat you stand for:

Values/promiseA set of associations and

feelings

To Brand or Not to Brand?

Why Incur the Cost & Efforts

to Brand?

Brand Name Selection

Good Brand Names:

–Suggest something about the product or its benefits

–Are easy to say, recognize and remember

–Are distinctive

–Are extendable

–Translate well into other languages

–Can be registered and legally protected

Brand Sponsorship

Manufacturer brands

Private (store) brands

Licensed brands

Co-branding

Brand Development

Line Extension

Multibrands

Brand Extension

New BrandsBra

nd

Nam

e

Existing New

Product Category

Existing

New

Four Brand Strategies

BrandingRejection

Nonrecognition

Recognition

Preference

Insistence

Change Position

Increase Awareness

Continue Education

Maintain Availability

Develop High Brand Equity

Focus:

Focus:

Focus:

Focus :

Focus :

Packaging

Activity of designing and producing the container or wrapper for a product.

Packaging used to just contain and protect the product.

Labeling

Printed information appearing on or with the package.

Performs several functions:

–Identifies product or brand

–Describes several things about the product

–Promotes the product through attractive graphics.

Companies should design its support services to profitably meet the needs of target customers and gain competitive advantage.

Product - Support Services

How?Step 1. Survey customers to assess the value of current services and to obtain ideas for new services.Step 2. Assess costs of providing desired services.Step 3. Develop a package of services to delight customers and yield profits to the company.

Enough for today. . .

Summary

Individual Product Decisions

Product Attributes

Branding

Packaging

Labeling

Product Support Services

QualityQualityQualityQuality FeaturesFeaturesFeaturesFeatures

DesignDesignDesignDesign

Branding

Brand Development

Line Extension

Multibrands

Brand Extension

New BrandsBra

nd

Nam

e

Existing New

Product Category

Existing

New

Four Brand Strategies

Packaging

Labeling

Companies should design its support services to profitably meet the needs of target customers and gain competitive advantage.

Product - Support Services

Next….

Product (cont..)

Principles of Marketing

Lecture-20