Product, Services, and Branding StrategiesObjectivesSlide 3Slide 3What is a Product?Slide 6Product Classifications Consumer ProductsSlide 7Slide 8Product Classifications Industrial ProductsSlide 10Slide 11Slide 12Product & Service DecisionsIndividual Product DecisionsSlide 16Slide 17Slide 18Slide 19Slide 20Slide 20Slide 21Branding the ProductBrand Should Convey MeaningBrand EquityBrand StrategySlide 27Slide 28Slide 29Slide 30Slide 31Four Brand Development StrategiesServices MarketingThe Goods - Service ContinuumContinuum of Evaluation for Different Types of ProductsSlide 35BusinessNowSlide 37Service Buying BehaviorSlide 40Slide 41Service QualitySlide 43Product, Services, Product, Services, and Branding and Branding StrategiesStrategiesChapter 9Chapter 99- 2ObjectivesBe able to define Be able to define productproduct and and know the major classifications of know the major classifications of products and services.products and services.Understand the decisionsUnderstand the decisions companies make regarding their companies make regarding their individual products and services, individual products and services, product lines, and product mixes.product lines, and product mixes.9- 3ObjectivesUnderstand how firms build and Understand how firms build and manage their manage their brandsbrands..Know the Know the four characteristics of four characteristics of servicesservices and the additional and the additional marketing considerations that marketing considerations that services require.services require.9- 4Cosmetics Cosmetics companies sell companies sell billions of dollars billions of dollars worth of productsworth of productsConsumers buy Consumers buy more than just a more than just a particular smellparticular smellThe “promise”, The “promise”, image, company, image, company, name, package, and name, package, and ingredients are all ingredients are all part of the product, part of the product, as are the stores as are the stores where it is sold.where it is sold.cCosmetics IndustryCosmetics Industry9- 5What is a Product?What is a Product?Anything that can be offered to a market for attention, Anything that can be offered to a market for attention, acquisition, use or consumption.acquisition, use or consumption.Satisfies a want or a need.Satisfies a want or a need.Includes:Includes:Physical ProductsPhysical ProductsServicesServicesPersonsPersonsPlacesPlacesOrganizationsOrganizationsIdeasIdeasCombinations of the aboveCombinations of the above9- 6What is a Product?Product and service Product and service classifications fall into classifications fall into two broad classes based two broad classes based on the types of buyers on the types of buyers who use them:who use them:Consumer productsConsumer productsIndustrial productsIndustrial products9- 7Product ClassificationsConsumer ProductsProduct ClassificationsConsumer ProductsShopping ProductsShopping Products> Buy less frequently> Gather product information> Fewer purchase locations> Compare for:• Suitability & Quality • Price & StyleConvenience ProductsConvenience Products> Buy frequently & immediately> Low priced> Many purchase locations> Includes:• Staple goods• Impulse goods• Emergency goodsSpecialty ProductsSpecialty Products> Special purchase efforts> Unique characteristics> Brand identification> Few purchase locationsUnsought ProductsUnsought Products> New innovations> Products consumers don’t want to think about> Require much advertising & personal selling9- 8Figure 9-1: Three Levels of Product9- 9Describe the Describe the core core benefit, actual benefit, actual product, product, andand augmented product augmented product aspects of an aspects of an automobile purchase.automobile purchase.Discussion Question9- 10Product ClassificationsIndustrial ProductsProduct ClassificationsIndustrial ProductsSuppliesandBusiness ServicesSuppliesandBusiness ServicesMaterialsandPartsMaterialsandPartsCapitalItemsCapitalItems9- 11Industrial products also include business services, such as landscaping, technology, food services, or custodial.9- 12Marketed to create, maintain, or change the Marketed to create, maintain, or change the attitudes or behavior toward the following:attitudes or behavior toward the following:Organizations - Organizations - Profit (businesses) and Profit (businesses) and nonprofit (schools and nonprofit (schools and churches). churches).Person - Person - PoliticalPolitical and sports figures, and sports figures, entertainers, doctors and lawyers.entertainers, doctors and lawyers.Place - Place - Business sites and tourism.Business sites and tourism.Social -Social -Reduce smoking, clean air, Reduce smoking, clean air, conservation.conservation. Product ClassificationsOther Marketable EntitiesProduct ClassificationsOther Marketable Entities9- 13Social marketing promotes ideas or causes for the purpose of improving an individual’s well-being or the well-being of society.9- 14Product & Service DecisionsIndividual Individual ProductProductProduct Line Product Line Product MixProduct MixProduct attributesProduct attributesQuality, features, style Quality, features, style and designand designBrandingBrandingPackagingPackagingLabelingLabelingProduct support Product support servicesservicesKey DecisionsKey Decisions9- 15Individual Product DecisionsIndividual Product DecisionsProduct AttributesProduct AttributesBrandingBrandingPackagingPackagingLabelingLabelingProduct Support ServicesProduct Support Services9- 16Product & Service DecisionsInnovative product Innovative product design can help design can help revitalize a revitalize a company, such as company, such as with the Apple iMac.with the Apple iMac.9- 17Product & Service DecisionsBrand:Brand:A name, term, sign, A name, term, sign, symbol, design, or a symbol, design, or a combination of combination of these, that identifies these, that identifies the maker or sellers the maker or sellers of a product or of a product or service.service.9- 18Product & Service DecisionsPackaging involves designing a Packaging involves designing a container or wrapper for a productcontainer or wrapper for a product9- 19Product & Service DecisionsMany aspects of a food product’s Many aspects of a food product’s label are dictated by lawlabel are dictated by law9- 20Product & Service DecisionsSupport services Support services via the web via the web include FAQ files, include FAQ files, email queries, live