Product: An Introduction

Сентябрь 10, 2022

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Product: An Introduction

Содержание

2. Product: An Introduction What is a product? Levels of product Product classification Individual product decisions Product
3. What Is a Product? Product is anything that can be offered to a market to satisfy
4. Levels of Product: General Concept Core benefit Packaging Features Styling Brand name Quality Installation After-sale service
5. Product Classification: Consumer Products Convenience products – those the customer usually buys frequently, immediately, and with
6. Product Classification: Industrial Products Materials and parts: raw materials -farm products, natural products; manufactured materials and
7. Product Classification: Other Products Organisations – maintain, create or alter the attitudes towards an organisation Persons
8. Individual Product Decisions: Product Attributes and Features Product quality: quality of design, quality conformance, reliability, safety,
9. Individual Product Decisions: Branding A brand is a name, term, sign symbol or design, or a
10. Individual Product Decisions Branding: Advantages of Branding For the buyers: They tell something about the product
11. Individual Product Decisions Branding: Advantages of Branding For the sellers: Provides legal protection of unique features;
12. Individual Product Decisions Branding: Advantages of Branding For the society: Higher and more consistent product quality;
13. Brand Equity Brand equity is the value premium that a company realizes from a product with
14. Brand equity relates to: Brand loyalty. Encourages customers to buy a particular brand time after time;
15. Individual Product Decisions Branding: Brand Name Selection It should suggest something about product’s benefits and qualities;
16. Individual Product Decisions Branding: Brand Sponsorship Private brands – own label of the retailer; Manufacturers’ brands;
17. Perspectives on private labels Retailer perspective Better profit margins; Strengthens retailer image; Manufacturer perspective No promotional
18. Co-branding Co-branding is a form of cooperation between two or more brands with signiﬁcant customer recognition,
19. Individual Product Decisions Branding: Brand Strategy Line extension Brand extension Multibrands New brands Brand repositioning
21. Individual Product Decisions Other Decisions Packaging; Labelling; Product-support services; Social responsibility of the company;
22. Product support services decisions Intangibility; Perishability; Heterogeneity; Inseparability;
23. Categories of supplementary service Information Consultation and advice Order taking Hospitality Safekeeping Exceptions Billing and Payment
24. Product Line Decisions Product Line: A Definition Product line is a group of products that are
25. Product Line Decisions: Product Line-length Decisions Downward stretch Quality Price High High Low Low Present products
26. Product Line Decisions: Product Line-length Decisions Upward stretch Quality Price High High Low Low Present products
27. Product Line Decisions: Product Line-length Decisions Two-way stretch Quality Price High High Low Low Present products
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Слайд 2

Product: An Introduction
What is a product?
Levels of product
Product classification
Individual product decisions
Product

line decisions
Product-mix decisions
International product decisions

Слайд 3

What Is a Product?
Product is anything that can be offered to

a market to satisfy a need or want;
Products include goods, services, experiences, persons, places, organizations, information, ideas;

Слайд 4

Levels of Product: General Concept
Core benefit
Packaging
Features
Styling
Brand name
Quality
Installation
After-sale service
Warranty
Delivery and credit
Core product
Actual

product

Augmented product

Слайд 5

Product Classification: Consumer Products
Convenience products – those the customer usually buys

frequently, immediately, and with a minimum comparison and buying effort/eggs, milk;
Shopping products – those the customer characteristically compares with others on the basis of suitability, quality, price, style/white goods, clothing;
Specialty products – those with unique characteristics or brand identification for which a significant group of buyers is willing to make special purchase effort;
Unsought products – those the customer either does not know about or know but do not normally think of buying;

Слайд 6

Product Classification: Industrial Products
Materials and parts:
raw materials -farm products, natural

products;
manufactured materials and parts – component materials and component parts;
Capital items:
installations – building, heavy equipment
equipment – factory equipment and tools
Services and supplies

Слайд 7

Product Classification: Other Products
Organisations – maintain, create or alter the attitudes towards

an organisation
Persons - maintain, create or alter the attitudes towards specific people
Place (destination marketing) to seize the opportunities and sustain its vitality
Ideas – public health, reduce smoking, child abuse, clean air…

Слайд 8

Individual Product Decisions: Product Attributes and Features
Product quality: quality of design, quality

conformance, reliability, safety, proper storage;
Product features – appearance, components, capabilities;
Product style and design;

Слайд 9

Individual Product Decisions: Branding
A brand is a name, term, sign symbol or

design, or a combination of these intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors
Levels of meaning of brands: attributes, benefits, values, personality

Слайд 10

Individual Product Decisions Branding: Advantages of Branding
For the buyers:
They tell something about

the product quality;
Increase shopper’s efficiency;
Attract customers’ attention to new products;

Слайд 11

Individual Product Decisions Branding: Advantages of Branding
For the sellers:
Provides legal protection of

unique features;
Helps sellers attract loyal customers;
Helps market segmentation;
Facilitates order processing;

Слайд 12

Individual Product Decisions Branding: Advantages of Branding
For the society:
Higher and more consistent

product quality;
Increased innovation and customer choice;

Слайд 13

Brand Equity
Brand equity is the value premium that a company realizes

from a product with a recognizable name as compared to its generic equivalent. Companies can create brand equity for their products by making them memorable, easily recognizable and superior in quality and reliability.

Слайд 14

Brand equity relates to:
Brand loyalty. Encourages customers to buy a particular

brand time after time;
Brand awareness. Brand names attract attention and convey images of familiarity;
Perceived quality. ‘Perceived’ means that the customers decide upon the level of quality, not the company;
Brand associations. The values and the personality linked to the brand;
Other proprietary brand assets. Include trademarks, patents;

Слайд 15

Individual Product Decisions Branding: Brand Name Selection
It should suggest something about product’s

benefits and qualities;
Easy to pronounce, recognise and remember;
Distinctive;
Easy and meaningfully to translate into other languages;
Capable of registration and legal protection;

Слайд 16

Individual Product Decisions Branding: Brand Sponsorship
Private brands – own label of the

retailer;
Manufacturers’ brands;
Licensing;
Co-branding;
Ingredient branding;

Слайд 17

Perspectives on private labels
Retailer perspective
Better profit margins;
Strengthens retailer image;
Manufacturer perspective
No promotional

expenses;
Provides access to shelf space;
Requires competing on price;
Loss of control and identity;
May cannibalise other manufacturer brands;

Слайд 18

Co-branding
Co-branding is a form of cooperation between two or more brands

with signiﬁcant customer recognition, in which all the participants’ brand names are retained.

Слайд 19

Individual Product Decisions Branding: Brand Strategy
Line extension
Brand extension
Multibrands
New brands
Brand repositioning

Слайд 20

Слайд 21

Individual Product Decisions Other Decisions
Packaging;
Labelling;
Product-support services;
Social responsibility of the company;

Слайд 22

Product support services decisions
Intangibility;
Perishability;
Heterogeneity;
Inseparability;

Слайд 23

Categories of supplementary service
Information
Consultation and advice
Order taking
Hospitality
Safekeeping
Exceptions
Billing and Payment

Слайд 24

Product Line Decisions Product Line: A Definition
Product line is a group of

products that are closely related because they function in a similar manner, are sold to the same customer group, are marketed through the same types of outlets, or fill within given price range.

Слайд 25

Product Line Decisions: Product Line-length Decisions
Downward stretch
Quality
Price
High
High
Low
Low
Present products
New products

Слайд 26

Product Line Decisions: Product Line-length Decisions
Upward stretch
Quality
Price
High
High
Low
Low
Present products
New products

Слайд 27

Product: An Introduction

Содержание

Product: An IntroductionWhat is a product?Levels of productProduct classificationIndividual product decisionsProduct

What Is a Product?Product is anything that can be offered to

Levels of Product: General ConceptCore benefitPackagingFeaturesStylingBrand nameQualityInstallationAfter-sale serviceWarrantyDelivery and creditCore productActual

Product Classification: Consumer ProductsConvenience products – those the customer usually buys

Product Classification: Industrial ProductsMaterials and parts: raw materials -farm products, natural

Product Classification: Other ProductsOrganisations – maintain, create or alter the attitudes towards

Individual Product Decisions: Product Attributes and FeaturesProduct quality: quality of design, quality

Individual Product Decisions: BrandingA brand is a name, term, sign symbol or

Individual Product Decisions Branding: Advantages of BrandingFor the buyers:They tell something about

Individual Product Decisions Branding: Advantages of BrandingFor the sellers:Provides legal protection of

Individual Product Decisions Branding: Advantages of BrandingFor the society:Higher and more consistent

Brand Equity Brand equity is the value premium that a company realizes

Brand equity relates to:Brand loyalty. Encourages customers to buy a particular

Individual Product Decisions Branding: Brand Name SelectionIt should suggest something about product’s

Individual Product Decisions Branding: Brand SponsorshipPrivate brands – own label of the

Perspectives on private labelsRetailer perspectiveBetter profit margins;Strengthens retailer image;Manufacturer perspectiveNo promotional

Co-branding Co-branding is a form of cooperation between two or more brands

Individual Product Decisions Branding: Brand StrategyLine extensionBrand extensionMultibrandsNew brandsBrand repositioning

Individual Product Decisions Other DecisionsPackaging;Labelling;Product-support services;Social responsibility of the company;

Product support services decisionsIntangibility;Perishability;Heterogeneity;Inseparability;

Categories of supplementary service InformationConsultation and adviceOrder takingHospitalitySafekeepingExceptionsBilling and Payment

Product Line Decisions Product Line: A DefinitionProduct line is a group of

Product Line Decisions: Product Line-length DecisionsDownward stretchQualityPriceHighHighLowLowPresent productsNew products

Product Line Decisions: Product Line-length DecisionsUpward stretchQualityPriceHighHighLowLowPresent productsNew products

Product Line Decisions: Product Line-length DecisionsTwo-way stretchQualityPriceHighHighLowLowPresent productsNew productsNew products

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