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Chapter 5 Product and Service Strategy and Brand Management

Chapter 5 Product and Service Strategy and Brand Management. The Offering Portfolio. The Offering Concept the benefits or satisfaction provided to a target market The Offering Mix the totality of an organization’s offerings

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Chapter 5 Product and Service Strategy and Brand Management

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  1. Chapter 5Product and Service StrategyandBrand Management

  2. The Offering Portfolio The Offering Concept • the benefits or satisfaction provided to a target market The Offering Mix • the totality of an organization’s offerings • consists of groups of offerings similar in terms of usage, buyers marketed to, or technical characteristics

  3. Modifying the Offering Mix Additions to the Offering Mix • How consistent is the new offering with existing offerings ? • Does the organization have the resources to adequately introduce and sustain the offering ? • Is there a viable market niche for the offering ?

  4. Idea Generation / Screening Business Analysis Market Testing Commercialization New-Offering Development Process

  5. New-Offering Development Process Idea Generation and Screening • Does the offering have a relative advantage ? • Is the offering compatible with buyers’ use or consumption behavior ? • Is the offering simple enough for buyers to understand and use ? • Can the offering be tested before purchase ? • Are there immediate benefits from the offering, once it is used or consumed ?

  6. New-Offering Development Process Business Analysis • Sales Analysis • Profit Analysis based on: • Investment requirements • Break-Even Point • Payback Period

  7. Life-Cycle Concept • Introduction • emphasis on stimulating trial • Growth • repeat purchase and modification of marketing mix • Maturity-Saturation • increase in proportion of repeat purchasers • standardization of operations and marketing mix more aggressive competition • Decline • modify or eliminate offering

  8. Positioning Strategies • by attribute or benefit • by use or application • by product or service user • by product or service class • against competitors • by price and quality dimensions

  9. Brand Offerings and Brand Equity Brand Equity- the overall value of a brand • provides a competitive advantage • consumers are often willing to pay a higher price for a product or service with brand equity Branding Decisions • to assign a brand name to all offerings or to each line of offering • to supply an intermediary with its own brand

  10. Brand Growth Strategies Product/Service Class New Product Class Existing Product Class New Brand Existing Brand New Brand Strategy Fighting/Flanker Brand Strategy Brand Brand Extension Strategy Line Extension Strategy

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