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Combination of These That Identifies The Maker or Seller of Product or Service)

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69 views17 pages

Combination of These That Identifies The Maker or Seller of Product or Service)

Uploaded by

ALI
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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In our last lecture we covered

Definition of BRAND (Brand is name, term, sign symbol or design or a


combination of these that identifies the maker or seller of product or
service).

Brand equity, brand name selection and brand sponsor were discussed

Let us move to next topic i.e. BRAND STRATEGY.


BRAND STRATEGY

A COMPANY HAS FOUR OPTIONS TO DECIDE ON BRAND STRATEGY

1: LINE EXTENSION – introduction of additional items in a given product


category under the same brand name -

2: BRAND EXTENSION – using a successful brand name to launch a new or


modified product in a new category

3: MULTIBRANDS - same category with new or additional brands -

4: NEW BRANDS – new brand for new product category


FOUR BRAND STRATEGIES

PRODUCT CATEGORY
Existing New

Line Brand
Existing
Extension Extension

BRAND NAME

New Multibrands New Brands


PACKAGING
Packaging is activity of designing and producing the container or
wrapper for a product

Primary Packaging

Secondary Packaging

Shipping Package

Labeling
PACKAGING CONCEPT

Purpose of packaging

1: Protection

2: Dispensing

3: Advertising etc.

Decisions regarding specific elements like

size, shape, material, color, text and brand mark

Childproof packaging

Temper proof packaging

Environmental concerns

Packaging reduction/going green/aseptic packaging


LABELING

Label includes simple tag to complex graphic printed on the package

Identifies the brand or product

Promote the sale of the product – attractive design etc.

Manufactured by…..
Usage instructions
Where was the product manufactured
MRP – Maximum retail price

Legality
Price
Manufacturing/expiry date
Ingredients
Nutritional information
PRODUCT SUPPORT SERVICES

Periodic Consumer Survey

Users data,

Internet services
PRODUCT LINE DECISIONS

A group of products that are closely related because they


functions in a similar manner, are sold to the same customer groups,
are marketed through the same types of outlets or fall within given
price ranges.
Product line length

Product line stretching, upward, downward or both ways


(This is by bigger companies to plug competitors entry)

PRODUCT MIX DECISIONS

Product mix or product assortment consists of all the product lines


and items that a particular seller offers for sale.

Width – No. of different product lines – HPC, food, cosmetics


Length – total number of items within product lines
Depth – version offered in each product
Consistency – how close various products lines are
SERVICE MARKETING
SERVICE is an activity or benefit that one party can offer to another
that is essentially tangible and does not result in the ownership of
anything.

Nature and Characteristics of a Service

INTANGIBILITY: services cannot be seen, tasted, felt, heard or


smelled before the purchase

INSEPARABILITY: cannot be separated from their provider

VARIBILITY: quality of services depends on who provides them and


when, where and how

PERISHABILITY: cannot be stored for later sale or use


MARKETING STRATEGIES FOR SERVICE FIRMS

The Service-Profit Chain

Internal service quality---satisfied and productive service


employees---greater service value---satisfied and loyal
customers---healthy service profits and growth

INTERNAL MARKETING – marketing by a service firm to train and


effectively motive its customer-contact employees and all the
supporting serviced people to work as a team to provide customer
satisfaction.

INTERACTIVE MARKETING – marketing by a service firm that


recognizes that perceived service quality depends heavily on the
quality of buyer-seller interaction
MANAGING SERVICE DIFFERENTIATION

Innovative features
Customer-contact officials

Symbols and branding

MANAGING SERVICE QUALITY


Service quality hard to define

Empower front line employees

Watch service performance closely

Communicate concerns about service quality to employees

MANAGING SERVICE PRODUCTIVITY


Better training facilities to staff members
Power of technology
Web site
Do not over stress technology
NEW PRODUCT DEVELOPMENT
Innovation is the name of the game

NEW PRODUCT DEVELOPMENT: The development of original


products, products improvement, products modification and new
brands through the firms own R&D efforts.

Failure rate : 80% of packaged consumer goods and 30% of industrial


goods

Survival rate : 40% products survive for more than five years

But companies must develop new products to survive


PROCESS OF NEW PRODUCT DEVELOPMENT

1: Idea Generation

2: Idea Screening : Screening new ideas in order to spot good


ideas and drop poor ones at initial stage.

3: Product Concept : A detailed version of the new product


idea stated in meaningful consumer terms
4: Concept Testing : Testing new product concepts with a group
of target consumers to find out if the
concepts have strong consumer appeal

5: Marketing Strategy Development: Designing an initial


marketing strategy for a new product
based on the product concept.
New Product Development --- contd.

6: Business Analysis: Review of the sales, costs and profit projection


for a new product to find out whether these
factors satisfy the company’s objectives

7: Product Development: Developing the product concept into a


physical product in order to ensure that the
product idea can be turned into a workable
product.

8: Test Marketing: The stage of new product development in which


the product and marketing program are tested
in more realistic market settings.

Standard Test Markets


Controlled Test Markets
Simulated Test Markets

9: Commercialization: Introducing a new product into the market


PRODUCT LIFE CYCLE STRATEGIES

The course of a product’s sale and profits over its lifetime.

Five stages (1) Product Development (2) Introduction


(3) Growth (4) Maturity
(5) Decline

Take off stage - between introduction and growth stages

PLC for (a) Style (b) Fashion and © Fads


INTRODUCTION STAGE: The product is distributed and made
available for sale

GROWTH STAGE: The product’s sales start climbing quickly

MATURITY STAGE: Sales growth slows or levels off

DECLINE STAGE: Product’s sales decline

Revive the product, (at which stage?) relaunch with new features
or withdraw the product…..

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