Product, Services, and Branding StrategiesObjectivesSlide 3PowerPoint PresentationDefinitionSlide 6What is a Product?Slide 8Slide 9Slide 10Slide 11Slide 12Slide 13Slide 14Slide 15Slide 16Slide 17Slide 18Slide 19Slide 20Slide 21Product & Service DecisionsSlide 23Slide 24Slide 25Slide 26Slide 27Slide 28Slide 29Slide 30Slide 31Branding StrategySlide 33Slide 34Brand StrategySlide 36Slide 37Slide 38Slide 39Slide 40Slide 41Slide 42Slide 43Slide 44Services MarketingSlide 46BusinessNowSlide 48Slide 49Slide 50Slide 51Additional Product ConsiderationsSlide 53Product, Services, Product, Services, and Branding and Branding StrategiesStrategiesChapter 9Chapter 99- 2ObjectivesBe able to define Be able to define productproduct and know and know the major classifications of products the major classifications of products and services.and services.Understand the decisions companies Understand the decisions companies make regarding their individual make regarding their individual products and services, product lines, products and services, product lines, and product mixes.and product mixes.Understand how firms build and Understand how firms build and manage their brands.manage their brands.9- 3ObjectivesKnow the four characteristics of Know the four characteristics of services and the additional services and the additional marketing considerations that marketing considerations that services require.services require.Review additional product issues Review additional product issues related to social responsibility and related to social responsibility and international marketing.international marketing.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- 5DefinitionProductProductAnything offered Anything offered to a market for to a market for attention, attention, acquisition, acquisition, consumption or consumption or use that might use that might satisfy a need satisfy a need or want.or want.9- 6DefinitionServiceServiceAny Any activityactivity or or benefitbenefit that one that one party can offer to party can offer to another that is another that is essentially essentially intangible and intangible and does not result in does not result in the ownership of the ownership of anything.anything.9- 7What is a Product?Products, Products, Services, & Services, & ExperiencesExperiencesMarket Market offerings, offerings, pure pure tangible tangible goods, pure goods, pure services, services, experiencesexperiencesExperiences include zoos and aquariums Experiences include zoos and aquariums9- 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- 10What 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- 11What is a Product?ConvenienceConvenienceShoppingShoppingSpecialtySpecialtyUnsoughtUnsoughtFrequent purchases Frequent purchases bought with minimal bought with minimal buying effort and little buying effort and little comparison shoppingcomparison shoppingLow priceLow priceWidespread Widespread distributiondistributionMass promotion Mass promotion by producerby producerTypes of Types of Consumer ProductsConsumer Products9- 12What is a Product?ConvenienceConvenienceShoppingShoppingSpecialtySpecialtyUnsoughtUnsoughtLess frequent purchases Less frequent purchases requiring more shopping requiring more shopping effort and price, quality, effort and price, quality, and style comparisons. and style comparisons. Higher priced than Higher priced than convenience goodsconvenience goodsSelective distribution in Selective distribution in fewer outletsfewer outletsAdvertising and personal Advertising and personal selling by producer and selling by producer and resellerresellerTypes of Types of Consumer ProductsConsumer Products9- 13What is a Product?ConvenienceConvenienceShoppingShoppingSpecialtySpecialtyUnsoughtUnsoughtStrong brand preference Strong brand preference and loyalty, requires and loyalty, requires special purchase effort, special purchase effort, little brand comparisons, little brand comparisons, and low price sensitivityand low price sensitivityHigh priceHigh priceExclusive distributionExclusive distributionCarefully targeted Carefully targeted promotion by producers promotion by producers and resellersand resellersTypes of Types of Consumer ProductsConsumer Products9- 14How can tropical fish How can tropical fish be a convenience be a convenience good, specialty good, good, specialty good, or shopping good to or shopping good to different consumers?different consumers? Provide examples.Provide examples.Discussion Question9- 15What is a Product?ConvenienceConvenienceShoppingShoppingSpecialtySpecialtyUnsoughtUnsoughtLittle product awareness Little product awareness and knowledge (or if and knowledge (or if aware, sometimes aware, sometimes negative interest)negative interest)Pricing variesPricing variesDistribution variesDistribution variesAggressive advertising Aggressive advertising and personal selling by and personal selling by producers and resellersproducers and resellersTypes of Types of Consumer ProductsConsumer Products9- 16The Goal:The Goal: Sell plots to baby Sell plots to baby boomers prior to an boomers prior to an actual death in the family actual death in the family – “preneed policies”.– “preneed policies”.Special Challenges:Special Challenges: Emotional – marketing Emotional – marketing done at the wrong time done at the wrong time could boomerang.could boomerang.Pay Now . . . Die Later Selling Cemetery PlotsOpportunities:Opportunities:Many states treat Many states treat preneed policies as preneed policies as tax exempt, and now tax exempt,