CHAPTER 8 - Product, Service, and Brands (Building Customer Value)

Views:
 
Category: Entertainment
     
 

Presentation Description

FAIR USE: "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use.".

Comments

Presentation Transcript

PowerPoint Presentation:

PRODUCT, SERVICE and BRANDS: BUILDING CUSTOMER VALUE CHAPTER 8

CHAPTER 8: LEARNING OBJECTIVES:

CHAPTER 8: LEARNING OBJECTIVES Define Product Understand the levels of product and services Understand the decisions companies make regarding their individual products and services, product lines, and product mixes Explain how companies build and manage their brands Enumerate the four characteristics of service marketing

WHAT IS A PRODUCT?:

WHAT IS A PRODUCT ? Product is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. —Also include services, events, persons, place, organizations, ideas, or a mixture of these—

EXAMPLES OF PRODUCT:

EXAMPLES OF PRODUCT EVENT PLACE IDEAS(new product)

SERVICES:

SERVICES SERVICES are a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything. EXAMPLES Doctor’s Examination HAIR CUT

Product, Service, Experience:

Product, Service, Experience PURE TANGIBLE GOOD PURE SERVICE COMBINATION OF THIS TWO

Levels of Product:

Levels of Product CORE CUSTOMER VALUE ACTUAL PRODECT AUGMENTED PRODUCT What is the buyer really buying? To develop product and service features, design, a quality level, a brand name, and packaging. Offering additional consumer services and benefits.

PowerPoint Presentation:

PACKAGING FEATURES DESIGN QUALITY LEVEL BRAND DELIVERY WARRANTY AFTER SALES SERVICES CREDIT/ PAYMENT TERMS INSTALLATION

NOKIA N8::

NOKIA N8: THE CORE PRODUCT: COMMUNICATION MESSAGING

PowerPoint Presentation:

THE ACTUAL PRODUCT PACKAGING -Anodised Aluminium case, available in 6 different colours. Size : 113.5 x 59 x 12.9 mm Weight (with battery): 135 g Volume : 86 cc FEATURES -Works on Symbian ^3, Has a 12 MP camera, Radio and Music player and Gaming. QUALITY LEVEL : Phone camera is of exceptional quality with HD recording. BRAND: Nokia, which happens to be one of the most trusted cell phone brands in India.

PowerPoint Presentation:

AUGMENTED PRODUCT DELIVERY : Then product can be purchased from any Electronic goods showroom. It can be also ordered online. INSTALLATION : Not required. WARRANTY : The product has a warranty period of 1 year. AFTER SALE SERVICES : Can be acquired from any Nokia service centre. CREDIT/PAYMENT TERMS : EMI Facilities.

Product and service classification:

Product and service classification

Product and services classes:

Product and services classes Consumer products Are products and services bought by final consumers for personal consumption. Industrial Products A product brought by individuals and organizations for further processing for use in conducting a business.

Types of consumer product:

Types of consumer product Consumer Product Convenience Product Shopping Product Specialty Product Unsought Product

PowerPoint Presentation:

Marketing Considerations Convenience Shopping Specialty Unsought Customer buying behavior Frequent purchase, little planning, little comparison or shopping effort, low customer involvement Less frequent purchase, much planning and shopping effort, comparison of brands on price, quality, style Strong brand preference and loyalty, special purchase effort, little comparison of brands, low price sensitivity Little product awareness Price Low price Higher Price High Price Varies Distribution Wide spread distribution, convenient locations Selective distribution in fewer outlets Exclusive distribution in only one or few outlets per market area Varies Promotion Mass promotion by the producer Advertising and personal selling by both the producer and resellers More carefully targeted promotion by both the producer and reseller Aggressive advertising and personal selling by the producer and reseller Examples Toothpaste, magazines and detergent Clothing and appliances Luxury goods such Rolex or fine crystals Life insurance and red cross blood donations

Industrial Product types:

Industrial Product types Materials and parts - Raw materials and manufactured materials and parts. Capital Items – Industrial products that aid in the buyer’s production or operation. Supplies and services – Operating supplies and repair and maintenance items.

Organizations, Persons,Places and Ideas:

Organizations, Persons,Places and Ideas

PowerPoint Presentation:

Organization marketing - consist of activities undertaken to create, maintain, or change the attitudes and behavior of target consumers towards an organization. Person marketing - consist of activities undertaken to create, maintain, or change the attitudes or behavior toward particular people.

PowerPoint Presentation:

Place marketing - Involves activities undertaken to create, maintain, or change the attitudes or behavior toward particular people. Ideas – is a concept or mental impression, ideas can also be marketed. All marketing is the marketing of an idea.

Social Marketing:

Social Marketing The use of commercial marketing concepts and tools in programs designed to influence individuals’ behavior to improve their well being and that of society.

Product and Service Decisions:

Product and Service Decisions Product Attributes Branding Packaging Labeling Product Support and Services

Product and Service Attributes:

Product and Service Attributes Developing a product or service involves defining the benefits that it will offer. Product Quality Product Features Product Style and Design Total Quality Management - is an approach in which all of the company’s people are involved in constantly improving the quality of the products, services, and business.

Branding:

Branding A name, term, sign, symbol, design, or a combination of these, that identifies the products or services of one seller or group of sellers and differentiates them from those of competitors

Packaging:

Packaging The activities of designing and producing the container or wrapper for the product.

Labeling:

Labeling The label identify the product or brand.

Product Support and Services:

Product Support and Services Product Line Decisions - A group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price range. Product Mix Decisions - The set of al product lines and items that particular seller offers for sale

Services Marketing:

Services Marketing – is a sub field of marketing, which can be split into the two main areas of goods marketing (which includes the marketing of fast moving consumer goods (FMCG) and durables) and services marketing. Services marketing typically refers to both business to consumer (B2C) and business to business (B2B) services .

Nature & Characteristics of a Service:

Nature & Characteristics of a Service – Company must consider four special characteristics when designing marketing programs intangibility, inseparability, variability, and perishability. SERVICES Intangibility – Services cannot be seen, tasted, felt, heard or smelled before purchase. Inseparability – Services cannot be separated from their providers.

PowerPoint Presentation:

Variability – Quality of services depends on who provides them, when, where, & how. Perishability – Services cannot be stored for later sale or use. Service-Profit Chain – Chain that links services firm profits with employee & costumer satisfaction. This chain consist of five links: Internal service quality – Superior employee section & training, a quality work environment, & strong support for those dealing with costumer.

PowerPoint Presentation:

Satisfied & productive service employees – More satisfied, loyal & hardworking employees. Greater service value – More effective & efficient costumer value. Satisfied & loyal costumers – Satisfied costumers who remain loyal, repeat purchase, and refer other costumers. Healthy service profits & growth – superior service firm performance.

PowerPoint Presentation:

BRANDING STRATEGY

Building Strong Brands:

Building Strong Brands 1. Brand Positioning 2.Brand Name Selection 3. Brand Sponsorship 4. Brand Development

Brand Positioning:

Brand Positioning What are the ATTRIBUTES of the product What are the BENEFITS of the product How about VALUES and BELIEFS

Brand Name Selection:

Brand Name Selection It should suggest something about the product’s benefits and qualities Easy to pronounce, recognize and remember Brand name should be distinctive Extendable

Brand Sponsorship:

Brand Sponsorship Manufacturer’s brand (National Brand) Private Brand Licensing Co- branding

Private Brand:

Private Brand created and owned by reseller of a product or service

Licensing:

Licensing is the accreditation of the brand name

Co- branding :

Co- branding the practice of using the established brand names of two different companies on the same product

Brand Development:

Brand Development Line Extensions Brand Extensions Multibrands New Brands

Line Extensions:

Line Extensions extending an existing brand name to new forms, color, sizes, ingredients or flavors of an existing product category

Brand Extension:

Brand Extension Extending an existing brand name to new product categories

Multibrands:

Multibrands companies often market different brands in a given product category

New Brands:

New Brands a company might believe that the power of its existing brand name is wanting, so new brand name needed