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Objectives

Objectives. Product Characteristics Building & Managing the Product Mix & Product Lines Brand Decisions Packaging & Labeling. Convenience Products. Shopping Products. Unsought Products. Specialty Products. Consumer-Goods Classification. Buy frequently & immediately Low priced

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Objectives

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  1. Objectives • Product Characteristics • Building & Managing the Product Mix & Product Lines • Brand Decisions • Packaging & Labeling

  2. Convenience Products Shopping Products Unsought Products Specialty Products Consumer-Goods Classification • Buy frequently & immediately • Low priced • Many purchase locations • Includes: • Staple goods • Impulse goods • Emergency goods • Buy less frequently • Gather product information • Fewer purchase locations • Compare for: • Suitability & Quality • Price & Style • Special purchase efforts • Unique characteristics • Brand identification • Few purchase locations • New innovations • Products consumers don’t want to think about. • Require much advertising & • personal selling

  3. Product Mix - all the product lines offered Consistency Product Mix Width - number of different product lines Length - total number of items within the lines Depth - number of versions of each product

  4. Product-Line Length • Line Stretching • Downmarket • Upmarket • Two-way • Line Filling • Line Modernization • Line Featuring & Line Pruning

  5. User Culture Personality Attributes Benefits Values What is a Brand?

  6. Brand Equity Devoted to Brand Values the Brand (brand as friend) Satisfied & Switching Cost Satisfied Customer (no reason to change) No Brand Loyalty (customer will change)

  7. Product Category Line Extension Brand Extension Existing New Existing Multibrands New Brands Brand Name New Brand Strategies

  8. Lack Poor Foreign Language Meanings Distinctive Suggest Product Qualities Suggest Product Benefits Easy to: Pronounce Recognize Remember Good Brand Names:

  9. Why Package Crucial as a Marketing Tool • Self-service • Consumer affluence • Company & brand image • Opportunity for innovation

  10. Promote Describe Identify Labels

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