Product and Services StrategyMore on product…A Product Dissected:Other product termsBrandingBrand StrategiesPackagingProduct ClassificationsProduct Classifications: ConsumerProduct Classifications: IndustrialServices are…Product and Services StrategyWhat is a product? One more time…More on product…GoodsServicesExperiencesA Product Dissected:Core benefitActual productAugmented ProductBrand NameQualityPackagingFeaturesWarrantyDeliveryServiceInstallationOther product termsBrand: name, symbol, term, design or combination that distinguishes competitors productsBrand nameBrand mark Product lineProduct mixBrandingTo 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 2/2Brand sponsor: manufacturer, private, or licensed–Brand Equity: positive differential effect brand has on customer response (e.g. price premium)Family brand? Multibrand?Brand StrategiesProduct CategoryExisting NewBrand NameExistingNewLineExtensionBrandExtensionMultibrandsNew BrandsPackagingBenefits 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 ClassificationsDurablesNon-durablesProduct Classifications: ConsumerConvenience Products–staples, unplanned, and emergencyShopping ProductsSpecialty ProductsUnsought ProductsProduct Classifications: IndustrialMaterials and Parts: become part of the productCapital Items: aid in production or operations–installations and accessoriesSupplies and ServicesServices
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