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MM: Chapter 14

MM: Chapter 14. Setting the product and branding strategy Warin Chotekorakul. Product and The Product Mix. Events. Experiences. Services. Persons. Properties. Product is anything that can be offered to a market to satisfy a want or need. Physical goods. Organizations. Possible

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MM: Chapter 14

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  1. MM: Chapter 14 Setting the product and branding strategy Warin Chotekorakul

  2. Product and The Product Mix Events Experiences Services Persons Properties Product is anything that can be offered to a market to satisfy a want or need. Physical goods Organizations Possible Range of Products Places Ideas Information

  3. Five Product Levels Potential Product Augmented product Expected Product Basic Product Core Benefit

  4. Five Product Levels (2) • Core benefit:basis for company to survive • Basic product:basis for delivering the core benefit • Expected product:basis for cust satisfaction • Augmented product:basis for competitive advantage • Potential product:basis for new product

  5. Five Product Levels (3) • Core benefit: • Basic product: • Expected product: • Augmented product: • Potential product: Transportation Wheels, steering-wheel, engine, gear, etc. Working lights, quiet engine, etc. Free 4-wheel change, Free 5-yr check, etc. Self-driving car

  6. Product Hierarchy • Need family: • Product family: • Product class: • Product line: • Product type: • Brand: • Item: Need of Foods; Look and feel better Heavy meals; Toiletries Fast food; Cosmetics Deep fried; Lipstick Deep fried meat; Tube Lipstick Mc Donald’s ; Shiseido Mc Donald’s deep fried chicken; Shi’s Lip Gloss 07

  7. Product Classifications • Durability and Tangibility • Consumer-goods classification • Industrial-goods classification

  8. Durability and Tangibility • Nondurable goods • Durable goods • Services

  9. Consumer-Goods Classification • Convenience goods: custspurchase frequently • Staple: purchase on a regular basis • Impulse goods: purchase on impulse • Emergency goods: purchase when a need is urgent • Shopping goods: custs compare on some bases • Homogenous goods: similar in quality but diff in price • Heterogeneous goods: pdt features are important more than price • Specialty Goods: pdt with unique characteristics • Unsought Goods

  10. Industrial-Goods Classification • Materials and parts • Raw materials • Farm products • Natural products • Manufactured materials and parts • Component materials • Component parts • Capital items • Installation • Equipment • Supplies • Operating supplies • Maintenance and repair items • Business services • Maintenance and repair services • Business advisory services

  11. Product Mix/Assortment • is the set of all products and items that a particular seller offer for sales to buyers. • Width:no. of product lines • Length:no. of pdt items in each pdt line • Depth:no. of pdts in each pdt item • Consistency:how closely related pdt lines are in end use

  12. Product-Line Decisions • Product-Line Analysis • Sales and Profits • Market Profile • Product-Line Length • Line Stretching • Downmarket stretch: e.g., C-ClassMercedes • Upmarket stretch: e.g., Lexus • Two-way stretch: e.g., Toyota (Soluna, Camry) • Line filling: e.g., new fragrances of perfume • Line Modernization: e.g., new look, new style • Line Featuring: one or a few items in the line to feature • Line Pruning: pruning slow moving items

  13. Market Profile Point-of- Purchase displays C B Finish Quality High D B C X A D X Medium Finish Quality General Printing B D C A X Office Supplies Low Extra High (180) Low (90) Medium (120) High (150) Paper Weight

  14. Brand Decisions • What is a brand? • A name, term, sign, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them form those of competitors.

  15. Key Decisions of Branding Branding Decision *Brand *No brand Brand- Sponsor Decision *Manufactu- rer brand *Distributor (private) brand *Licensed brand Brand- Name Decision *Individual names *Blanket family name *Separate family names *Company- Individual name Brand- Strategy Decision *Line extensions *Brand extensions *Multibrands *New brands *Cobrands Brand- Reposition- ing *Repositioning *No Reposit- ioning

  16. Brand-Sponsor Decision • Manufacturer/National brand: e.g., Jaspal, IBM • Distributor/Private brand: e.g., aro brand, Tops brand, Watsons • Licensed brand name: using licensor’s brand

  17. Brand-Name Decision • Individual names: e.g., Sunsilk, Dove, Lux • Blanket family name: e.g., Sony, Mitsubishi • Separate family names: e.g., Betagro for animal feeds, Better Pharma for drugs • Company-individual names: e.g., Toyota Soluna, Kellogg’s Corn Flakes, Windows XP

  18. Brand-Strategy Decision • Line extension: use existing brand name for new sizes or flavors in the existing pdt category e.g., Fanta, Mama • Brand extension: use existing brand name for new-pdt category e.g., Nike on watches, sunglasses, sports equipment; Vidal Sassoon on shampoo, hair drier • Multibrands: new brand names for the same pdt category e.g., Lipovitan-D and Looktoong from Osadsapa • New brands: new brand for new pdt e.g., Ole’ & Lipo from Osadsapa • Co-brands: e.g., Sony Ericsson

  19. Other Issues Package: The container for a product Label: A part of package

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