MKT 300 1st Edition Lecture 15 Outline of Last Lecture I. Product BrandingII. Complexity of ProductsIII. Types of ProductsIV. Product Mix and Product Line DecisionsOutline of Current Lecture I. Brand ManagementII. Product Mix and Product Line Decisions Cont’dIII. What Makes a BrandCurrent LectureI. Brand Management: consumers’ habits are changing—hard to keep up with habits/routines- Eating less dessert after a meal; we want eating to be recreation/hobby- Cheap cereal is growing—Malt O Meal cereal is better than ever: “Mom’s best” line- Skittles Super bowl ad: “Settle it the usual way”Complexity of Products- Care customer value: basic benefit your product offers your customers- Augmented product: extras (personal service/warranty)Types of Products: Products we buy as customers (how viewed / shopped for)1. Specialty: special brand/equipment2. Shopping: willing to shop around (small appliances/vacation)3. Convenience (grocery products / everyday use)4. Unsought: unknown, don’t want to buy: insurance, funeral servicesII. Product Mix and Product Line Decisions- Product mix: all the different product lines that you sello Smuckers’ mix: Jiff, jellies, Pet Hearto Clorox’s mix: Glad, Hidden Valley, Burt’s Bees- Lots of lines = breadth ; many variations/choices = depth- Product line: Duracell’s Double A, Triple A, computer, etc.- Upward Line stretch: Cascade platinum, bounty duratowelIII. What makes a Brand?These notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.Branding—value of brands. Brand equity, awareness, perceived value, associations, personality, loyalty.Branding strategies—all types. Ownership, naming, extensions, co-branding, licensing, repositioning.Packaging and labeling—all
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