marketing princiles unit 7 product, services and barnding stratary

Unit Product,, Services and Branding g Strategy CuuDuongThanCong.com https://fb.com/tailieudientucntt Road Map: Previewing the Concepts Define product and the major classifications of products and services Describe the roles of product and service branding, packaging, labeling, and product support services Explain the decisions companies make when developing product lines and mixes Identify the four characteristics that affect the marketing of a service service Discuss the additional marketing considerations for services CuuDuongThanCong.com https://fb.com/tailieudientucntt Wh d t? Whatt iis a P Product? A PRODUCT is anything that can be offered to a market for attention, acquisition, use, or consumption and that might satisfy a want or need Includes: – – – – – – – – Physical Objects S i Services Events Persons Places Organisations Ideas Combinations of the above CuuDuongThanCong.com https://fb.com/tailieudientucntt Wh i ? Whatt iis a S Service? A SERVICE is a form of product that consist of activities, benefits, or satisfactions offered for sale that are essentially intangible and not result in the ownership of anything E Examples l iinclude: l d – – – – Banking Hotels Tax preparation Home repair services CuuDuongThanCong.com https://fb.com/tailieudientucntt G d S Goods, Services, i and dE Experiences i Tangible Good Pure With Tangible g Accompanying Good Services Soap Hybrid Offer Service S i With Accompanying p y g Minor Goods Pure Service Auto With Airline Trip Accompanying Restaurant With Doctor’s Repair Accompanying Exam Services Snacks CuuDuongThanCong.com https://fb.com/tailieudientucntt Nature atu e a and dC Characteristic a acte st c o of a Service CuuDuongThanCong.com https://fb.com/tailieudientucntt Illustrate how a movie theatre can deal with the intangibility, inseparability, y, and perishability p y of the variability, services it provides CuuDuongThanCong.com https://fb.com/tailieudientucntt L Levels l off P Product d t CuuDuongThanCong.com https://fb.com/tailieudientucntt P d Cl ifi i C Product Classifications: Consumer Convenience Products  Buy frequently & immediately Shopping Products  Buy less frequently  Low L priced i d  Mass advertising  Many purchase locations i.e Candy, newspapers  Higher Hi h price i  Fewer purchase locations  Comparison shop g, cars,, appliances pp i.e Clothing, Specialty Products Unsought Products  Special purchase efforts  New innovations  High price  Unique characteristics  Brand identification  Few purchase locations i.e Lamborghini, Rolex CuuDuongThanCong.com  Products consumers don’t want to think about  Require much advertising & personal selling i.e Life insurance, blood donation https://fb.com/tailieudientucntt What these at you think t t ese products are? A pair of shoes Toilet paper KFC Chicken Burger Mobile phone Iced black coffee Sofa S k detector Smoke d Gucci sunglasses R fi Refrigerator t 10 CuuDuongThanCong.com https://fb.com/tailieudientucntt 30 CuuDuongThanCong.com https://fb.com/tailieudientucntt L b li Labeling 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 31 CuuDuongThanCong.com https://fb.com/tailieudientucntt P d t Support Product S t Services S i Companies use product support services as a major tool in gaining competitive advantage How? Step Survey customers to assess the value of current services and d to obtain b ideas d for f new services St Step Assess costs of providing desired services services Step Develop a package of services to delight customers and yield profits to the company company 32 CuuDuongThanCong.com https://fb.com/tailieudientucntt Marketing Strategies for Service Firms Managing Service Differentiation – Develop differentiated offer, delivery, and image Managing g g Service Quality y – Empower front-line employees, – Become “Customer obsessed,” – Set high service quality standards, – Watch service performance closely Managing Service Productivity – Train current or new employees better, – Work on q quality y as well as quantity, – Utilize technology – Well-designed Web site 33 CuuDuongThanCong.com https://fb.com/tailieudientucntt Product life cycle Introductory stage Growth stage Maturity stage Decline stage Product category sales Product category profits Time 34 CuuDuongThanCong.com https://fb.com/tailieudientucntt Introductory stage Full-scale launch of new products • • • • • • • High failure rates Little competition Frequent product modification Limited distribution High marketing and production costs Negative profits Promotion focuses on awareness and information • Intensive I t i personall selling lli tto channels h l 35 CuuDuongThanCong.com https://fb.com/tailieudientucntt Growth stage Second stage • Increasing rate of sales • Entrance of competitors • Initial healthy profits • Promotion P ti emphasises h i b brand d ads d • Goal is wider distribution • Prices normally fall • Development costs are recovered 36 CuuDuongThanCong.com https://fb.com/tailieudientucntt Maturityy stage g A period during which sales increase at an decreasing rate • • • • • Declining sales growth Saturated markets Extending product line Stylistic y product p changes g Heavy promotions to dealers and consumers • Marginal Ma ginal competitors competito s drop d op o outt • Prices and profits fall • Niche marketers emerge 37 CuuDuongThanCong.com https://fb.com/tailieudientucntt Decline stage A long run drop in sales • Long Long-run run drop in sales • Large inventories of unsold items • Elimination of all nonessential marketing k expenses 38 CuuDuongThanCong.com https://fb.com/tailieudientucntt The adoption process Awareness Interest Evaluation Trial Decision Confirmation 39 CuuDuongThanCong.com https://fb.com/tailieudientucntt Diffusion The process by which the adoption p of an innovation spreads 40 CuuDuongThanCong.com https://fb.com/tailieudientucntt Categories of adopters Categories of adopters in the diffusion process: • Innovators • E l adopters Early d t • Early majority • Late majority • gg Laggards 41 CuuDuongThanCong.com https://fb.com/tailieudientucntt Percentage of ado opters Categories of adopters Innovators 5% 2.5% Early adopters 13 5% 13.5% Early majority 34% Late majority 34% Laggards 16% Time CuuDuongThanCong.com 42 https://fb.com/tailieudientucntt Diffusion p process and p product life cycle curve Salles Introduction Growth Maturity Decline Product life cycle curve Early majority Late majority Early y adopters p Innovators Laggards Diffusion curve 43 CuuDuongThanCong.com https://fb.com/tailieudientucntt R t St Rest Stop: Reviewing R i i th the C Concepts t Define product and the major classifications of products and services Describe the roles of product and service branding, packaging, labelling, and product support services Explain the decisions companies make when developing product lines and mixes Identify the four characteristics that affect the marketing of a service service Discuss the additional marketing considerations for services 44 CuuDuongThanCong.com https://fb.com/tailieudientucntt ... https://fb.com/tailieudientucntt B di St Branding Strategies t i Brand Manufacturer’s B Brand d Individual Brand Family Brand Combination No Brand Private Brand Individual Family Brand Brand Combination 23 CuuDuongThanCong.com... relationships 17 CuuDuongThanCong.com https://fb.com/tailieudientucntt B Brands d and d Brand B d Symbols S b l Powerful brands such as these have brand equity: – Eg Coca-Cola brand $69 billion... Concepts Define product and the major classifications of products and services Describe the roles of product and service branding, packaging, labeling, and product support services Explain the decisions