Principles of marketing: Lecture 20 provide students with knowledge about: product; individual product decisions; product support services; product attributes; product attribute decisions; process of designing a product’s style and design;... Please refer to this lesson for details!
MGT301 Principles of Marketing Lecture20 Summary of Lecture19 Marketing Mix 4 Ps Levels of Products Augmented Augmented Product Product Installation Packaging Brand Name Delivery & Credit Quality Level Core Core Benefit Benefit or or Service Service Features Design Warranty Actual Actual Product Product Core Core Product Product AfterSale Service Product Classifications Today’s Topics Product Augmented Product Augmented Product Installation Packaging Brand Name Delivery & Credit Quality Level Core Core Benefit or Benefit or Service Service Features Design Warranty Actual Product Actual Product Core Product Core Product After Sale Service Individual Product Decisions 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 Product Support Services Companies should design its support services to profitably meet the needs of target customers and gain competitive advantage. 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 Enough for today. . Summary Individual Product Decisions Product Attributes Branding Labeling Packaging Product Support Services Quality Quality Features Features Design Design Branding Brand Development Four Brand Strategies Product Category Existing Brand Name Existing New New Line Extension Brand Extension Multibrands New Brands Packaging Labeling Product Support Services Companies should design its support services to profitably meet the needs of target customers and gain competitive advantage. Next… Product (cont ) MGT301 Principles of Marketing Lecture20 ... the the Product Product from from Those Those of of the the Competition Competition Product Product Style Style & & Design Design Process Process of of Designing Designing aa Product’s Product’s... Process? ?of? ?Designing a Product’s Style & Design Branding Brand 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 competitors...Summary of? ? Lecture? ?19 Marketing Mix 4 Ps Levels? ?of? ?Products Augmented Augmented Product Product Installation Packaging Brand