OSU BA 390 - Product and Services Strategy

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Product and Services StrategyMore on product…A Product Dissected:Other product termsBrandingBrand StrategiesPackagingProduct ClassificationsProduct Classifications: ConsumerProduct Classifications: IndustrialServices are…Product and Services StrategyWhat is a product? One more time…More on product…GoodsServicesExperiencesA Product Dissected:Core benefitActual productAugmented ProductBrand NameQualityPackagingFeaturesWarrantyDeliveryServiceInstallationOther product termsBrand: name, symbol, term, design or combination that distinguishes competitors productsBrand nameBrand mark Product lineProduct mixBranding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 CategoryExisting NewBrand NameExistingNewLineExtensionBrandExtensionMultibrandsNew BrandsPackaging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-durablesProduct Classifications: ConsumerConvenience Products–staples, unplanned, and emergencyShopping ProductsSpecialty ProductsUnsought ProductsProduct Classifications: IndustrialMaterials and Parts: become part of the productCapital Items: aid in production or operations–installations and accessoriesSupplies and ServicesServices


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OSU BA 390 - Product and Services Strategy

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