marketing management chapter questions · • how can companies combine products to create strong...

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MARKETING MANAGEMENT 12 th edition 12 Setting Product Strategy Kotler Keller 12-2 Chapter Questions What are the characteristics of products and how can they be classified? How can companies differentiate products? How can a company build and manage its product mix and product lines? How can companies combine products to create strong co-brands or ingredient brands? How can companies use packaging, labeling, warranties, and guarantees as marketing tools? 12-3 At the heart of a great brand is a great product 12-4 Product Anything that can be offered to a market to satisfy a want or need.

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MARKETING MANAGEMENT12th edition

12 Setting Product

Strategy

Kotler Keller 12-2

Chapter Questions

• What are the characteristics of products and how can they be classified?

• How can companies differentiate products?• How can a company build and manage its

product mix and product lines?• How can companies combine products to create

strong co-brands or ingredient brands?• How can companies use packaging, labeling,

warranties, and guarantees as marketing tools?

12-3

At the heart of a great brand is a great product

12-4

Product

Anything that can be offered to a market to satisfy a want or need.

12-5

Figure 12.1 Components of the Market Offering

12-6

Figure 12.2 Five Product Levels

12-7

Product Classification Schemes

Durability

Use

Tangibility

12-8

Durability and Tangibility

Nondurablegoods

ServicesDurablegoods

12-9

Consumer Goods Classification

Convenience

Unsought

Shopping

Specialty

12-10

Industrial Goods Classification

Materials and parts

Supplies/ business services

Capital items

12-11

Product Differentiation

• Product form• Features• Performance• Conformance• Durability• Reliability• Reparability

• Style• Design• Ordering ease• Delivery• Installation• Customer training• Customer consulting• Maintenance

12-12

Dunkin’ Donuts’ Differentiation

12-13

Design Differentiation

12-14

Maintenance and Repair

12-15

The Product Hierarchy

Need family

Product family

Product class

Product line

Product type

Item

12-16

Product Systems and Mixes

• Product system• Product mix• Product assortment• Depth• Length• Width• Consistency

12-17

Product Line Analysis

Convenience items

Core product Staples

Specialties

12-18

Figure 12.3 Product-Item Contributions to a Product Line’s Total Sales and Profits

12-19

Figure 12.4 Product Map

12-20

Line Stretching

Down-Market Stretch

Up-Market Stretch

Two-Way Stretch

12-21

Line Filling

12-22

Product-Mix Pricing

• Product-line pricing• Optional-feature pricing• Captive-product pricing• Two-part pricing• By-product pricing• Product-bundling pricing

12-23

Product Line Pricing

12-24

Two-Part Pricing

12-25

Co-branding

12-26

Ingredient Branding

12-27

Packaging: The 5th P

All the activities of designing and producingthe container for a product.

12-28

Packaging has been influenced by…

Self-service

Consumer affluence

Company/brand image

Innovation opportunity

12-29

Innovations in Packaging

12-30

Functions of Labels

Identifies

Grades

Describes

Promotes

12-31

Warranties and Guarantees

12-32

Marketing Debate

With products, is it form or function?

Take a position:1. Product functionality is the key to brandsuccess.2. Product design is the key to brand success.

12-33

Marketing Discussion

Consider the different meansof differentiating products andservices. Which ones have themost impact on your choices?

Why?