Chapter 12 Product and Distribution Strategies

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Slide1:

Copyright ©2017 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Product:

Product Anything that an organization offers to satisfy consumer needs and wants Pure goods : Products that do not include any service Pure services : Products that do not include any goods Consumer products : Purchased for personal use or consumption Convenience and shopping products Specialty and unsought products

Product:

Product Business products : Purchased to use either directly or indirectly in the production of other products Installations and accessory equipment Maintenance, repair, and operating products Raw materials, processed materials, and business services

Product Differentiation:

Product Differentiation Attributes that make a product unique that compete to meet the similar customer needs

Think about a strategy to differentiate this product in the minds of consumers:

Think about a strategy to differentiate this product in the minds of consumers

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6

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7

Product Differentiation:

Product Differentiation Brand : Product’s identity that sets it apart from other players in the same category

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Brand recognition - consumer is aware of the brand but does not have a preference for it over other brands Brand preference - consumer chooses one firm’s brand over a competitor’s Brand insistence - consumer will seek out preferred brand and accept no substitute for it (the ultimate degree of brand loyalty) Brand Loyalty

Packaging:

Packaging Protects the product Provides information Facilitates storage Suggests product uses Promotes the product brand Attracts buyer attention 10

12.7 Product Life Cycle for a Typical Product Category:

12.7 Product Life Cycle for a Typical Product Category

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Advertising - paid non-personal communication usually targeted at large numbers of potential buyers. Advertising expenditures are great– carmakers spend $20 billion per year. Consumers are bombarded with many messages. Firms need to be more and more creative and efficient at getting consumers’ attention. CONSUMERS RECEIVE 4-5,000 MARKETING MESSAGES EACH DAY!!! Advertising

Promotional Channel:

Promotional Channel Specific marketing communication vehicles that include traditional tools such as: Advertising Sales promotion Direct marketing Personal selling

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Sponsorship: 15

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HOW CAN ADVERTISERS REACH YOU?

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