principles of marketing
DESCRIPTION
Principles of Marketing. Lecture-20. Summary of Lecture-19. Marketing Mix 4 Ps. Levels of Products. Augmented Product. Installation. Packaging. Features. Brand Name. Delivery & Credit. After- Sale Service. Core Benefit or Service. Quality Level. Design. Warranty. Core - PowerPoint PPT PresentationTRANSCRIPT
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Principles of Marketing
Lecture-20
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Summaryof
Lecture-19
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Marketing Mix4 Ps
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Levels of Products
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BrandName
QualityLevel
Packaging
Design
Features
Delivery& Credit
Installation
Warranty
After-Sale
Service
CoreBenefit
orService
CoreBenefit
orService
ActualProduct
ActualProduct
CoreProduct
CoreProduct
AugmentedProduct
AugmentedProduct
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Product Classifications
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Today’s Topics
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Product
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BrandName
QualityLevel
Packaging
Design
Features
Delivery& Credit
Installation
Warranty
After-Sale
Service
CoreBenefit orService
CoreBenefit orService
Actual ProductActual Product Core ProductCore Product
Augmented ProductAugmented Product
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Individual Product Decisions
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Product Attributes
Branding
Packaging
Labeling
Product Support Services
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Developing a Product or Service Involves
Defining the Benefits that it Will Offer
Product Attributes
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QualityQualityQualityQuality FeaturesFeaturesFeaturesFeatures
DesignDesignDesignDesign
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Product Attribute Decisions
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Product Quality Product Quality
Product FeaturesProduct Features
Product Style & Design
Product Style & Design
Ability of a Product to Perform Its Functions; Includes Level &
Consistency
Ability of a Product to Perform Its Functions; Includes Level &
Consistency
Help to Differentiate the Product from Those of the Competition
Help to Differentiate the Product from Those of the Competition
Process of Designing a Product’s Style & Function
Process of Designing a Product’s Style & Function
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ProductProductQualityQuality
ProductProductQualityQuality
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Ability of a Product to Perform Its
Functions; Includes Level & Consistency
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Product Product FeaturesFeaturesProduct Product FeaturesFeatures
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Help to Differentiate the Product from
Those of the Competition
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ProductProductDesignDesign
ProductProductDesignDesign
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Process of Designing a
Product’s Style & Design
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Branding
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BrandA 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 competitors
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What is a Brand?
It’s who you are...and what you stand for.
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B E T on J azz
C hildren’s C able N et
KnowledgeTV
MuseumC hannel
Booknet
ArenaC lassical
Music
T ravel C hannel
D IY
C lass ic A rtsS howcase
A nimalP lanet
N ew S cienceN etwork
B LO O M B E R GN E W S IN F O R M A T IO N
C -S P A N
Noggin
T heaterC hannel
AnthropologyP&E
OvationOvation
Arts & Antiques
S C IE N C E
K ID SC IV IL IZA T IO N
E O P
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Why? Because...A Strong Brand is the Heart and “Sole/Soul” of an Organization!
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What Branding Is?A clear identity in the
consumer's mindWho you are: Product/serviceWhat you stand for:
Values/promiseA set of associations and
feelings
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To Brand or Not to Brand?
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Why Incur the Cost & Efforts
to Brand?
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Brand Name Selection
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Good Brand Names:
–Suggest something about the product or its benefits
–Are easy to say, recognize and remember
–Are distinctive
–Are extendable
–Translate well into other languages
–Can be registered and legally protected
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Brand Sponsorship
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Manufacturer brands
Private (store) brands
Licensed brands
Co-branding
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Brand Development
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Line Extension
Multibrands
Brand Extension
New BrandsBra
nd
Nam
e
Existing New
Product Category
Existing
New
Four Brand Strategies
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BrandingRejection
Nonrecognition
Recognition
Preference
Insistence
Change Position
Increase Awareness
Continue Education
Maintain Availability
Develop High Brand Equity
Focus:
Focus:
Focus:
Focus :
Focus :
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Packaging
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Activity of designing and producing the container or wrapper for a product.
Packaging used to just contain and protect the product.
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Labeling
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Printed information appearing on or with the package.
Performs several functions:
–Identifies product or brand
–Describes several things about the product
–Promotes the product through attractive graphics.
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Companies should design its support services to profitably meet the needs of target customers and gain competitive advantage.
Product - Support Services
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How?Step 1. Survey customers to assess the value of current services and to obtain ideas for new services.Step 2. Assess costs of providing desired services.Step 3. Develop a package of services to delight customers and yield profits to the company.
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Enough for today. . .
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Summary
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Individual Product Decisions
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Product Attributes
Branding
Packaging
Labeling
Product Support Services
![Page 49: Principles of Marketing](https://reader035.vdocuments.site/reader035/viewer/2022062718/56812cf1550346895d91bd63/html5/thumbnails/49.jpg)
QualityQualityQualityQuality FeaturesFeaturesFeaturesFeatures
DesignDesignDesignDesign
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Branding
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Brand Development
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Line Extension
Multibrands
Brand Extension
New BrandsBra
nd
Nam
e
Existing New
Product Category
Existing
New
Four Brand Strategies
![Page 53: Principles of Marketing](https://reader035.vdocuments.site/reader035/viewer/2022062718/56812cf1550346895d91bd63/html5/thumbnails/53.jpg)
Packaging
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Labeling
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Companies should design its support services to profitably meet the needs of target customers and gain competitive advantage.
Product - Support Services
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Next….
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Product (cont..)
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Principles of Marketing
Lecture-20