product and services strategy
DESCRIPTION
Product and Services Strategy. What is a product? One more time…. More on product…. Goods Services Experiences. Augmented Product. Delivery. Brand Name. Service. Core benefit. Packaging. Actual product. Features. Installation. Quality. Warranty. A Product Dissected:. - PowerPoint PPT PresentationTRANSCRIPT
Product and Services Strategy
What is a product? One more time…
More on product…
Goods Services Experiences
A Product Dissected:
Core benefit
Actual product
Augmented Product
Brand Name
Quality
Packaging
Features
Warranty
Delivery
Service
Installation
Other product terms
Brand: name, symbol, term, design or combination that distinguishes competitors products
Brand name Brand mark Product line Product mix
Branding
To brand or not to brand– Paul McCartney applies to trademark his name– George Foreman: $137.5 Million from Salton
(Foreman Grills) “Foreman is a brand, not a grill” wsj 2/2
Brand sponsor: manufacturer, private, or licensed– Brand Equity: positive differential effect brand has
on customer response (e.g. price premium) Family brand? Multibrand?
Brand StrategiesProduct Category
Existing New
Brand Name
Existing
New
LineExtension
BrandExtension
Multibrands New Brands
Packaging
Benefits for manufacturer, consumer, and reseller– communications– storage– convenience– protection– perception
“From a packaging viewpoint, Reser's most successful branding effort has been its nationwide rollout, last year, of Salad Ovals. Purely through packaging, Reser's has added value to its flagship product. The company's sales of prepackaged salads are 27% ahead of last year, attributable solely to the new package”
Product Classifications
Durables Non-durables
Product Classifications: Consumer Convenience Products
– staples, unplanned, and emergency Shopping Products Specialty Products Unsought Products
Product Classifications: Industrial Materials and Parts: become part of the
product Capital Items: aid in production or
operations– installations and accessories
Supplies and Services
Services are…
Intangible Inseparable Variable Perishable