Products, services and brands building customer value
1. Welcome To my Presentation
BBA 21 A
Sub:
Products, Services And Brands: BuildingCustomer Value
Name: Fahad BinAziz
Id:14-1-12-0030
2. Question -1:
Discuss the level of products.
Answer:
Product planners need to think about products and services on three levels.
1.Core product
2. Actual product
3. Augmented product
Core product: The more basic level is the core customer value, which addresses the
question what is the buyer really buy? When designing the products, marketer first
find the core, problem solving benefits or services that consumer seek. For example:
who buy a Black Berry Smartphone is buying more than a cell phoneme-mail device,
or personal organizer. They are buying freedom and on-the-go connectivity to
people and resources.
Actual product: At the second level, product planners must turn the core benefits into an
actual product. They need to develop product and service feature, design, a quality
level, a brand name and packaging. For example: the Black Berry is an actual
product. Its name, parts, styling, features, packaging and other attributes have all
been combined carefully to deliver the core customer value of staying connected.
Augmented product: Finally product planners must build an augmented product around
the core benefits and actual product by offering additional consumer services and
benefits. For example: The Black Berry solution offers more than just a
communication device. It provides consumers with a complete solution to mobile
connectivity problems. Thus, when consumers buy a Black Berry, the company and
its dealers also might given buyers a warranty on parts and workmanship, instruction
on how to use the device and web site to use if they have problems or questions.
3. Question 2:
Discuss different types of consumer product with
relevant example.
Answer:
Consumer Product: Product bought by final consumer for personal Consumption.
– Four types of consumer products:
– Convenience Products
– Shopping Products
– Specialty Products
– Unsought Products
The different types of consumer products with relevant example are given below:
Convenience Products: Consumer products that customer usually buy frequently,
immediately and with minimal comparison and buying effort. Ex: Toothpaste, Laundry
detergent etc.
Shopping Products: Shopping Products are less frequently purchased consumer
products and services that customers compare carefully on suitability, quality, and
style. Ex: Major appliance, furniture, clothing etc.
Specialty Products: Specialty Products are consumer products and services with
unique characteristics or brand identification for which a significant group of buyers is
willing to make a special purchase effort. Ex: Luxury product such as Rolex watches,
fine Crystal etc.
Unsought Product: Unsought Product is consumer products that the consumer either
4. Qeustion-3
Discuss different types of industrial product with
relevant example .
Answer:
Industrial product: Industrial products are those purchased for further processing or for use in
conducting a business. Thus, the distinction between a consumer product and an industrial
product is based on the purpose for which the product is bought.
The three groups of industrial product and services.
1.Materials and parts.
2.Capital items.
3.Supplies and services.
# Materials and parts : Materials and parts include raw materials and manufactured materials and
parts. Raw materials consists of farm product ( wheat, cotton, fruits) and natural products ( fish,
iron ore).Manufactured materials and parts consists of component materials and component part.
# Capital items : Capital items are industrial product that aid in the buyers product or operation,
including installations and accessory equipment. Installation consists of major purchases such as
buildings (factory, offices) and fixed equipment (generators, large computer system).
# Supplies and services : The final group of industrial products is supplies and services. Supplies
include operating supplies (paper, pencils) and repair and maintenance items ( paint, nail).
Supplies are the convenience products of the industrial field because they are usually purchased
with a minimum of effort or comparison.
5. Question- 4
Discuss individual product and service related decisions.
Product and service decisions: Marketers make product and service decisions at three levels:
individuals product decisions, product line decisions, and product mix decisions. We will focus on
decisions about product attributes, branding, packaging, and style and design.
Product and service attributes: Developing a product or service involves defining the benefits that it
will offer. These benefits are communicated and delivered by product attributes, branding,
packaging, labeling, and design.
• Product Quality: Product quality is one of the markets major positioning tools. Quality has a
direct impact on product or service performance; thus, it is closely linked to customer value and
satisfaction. In the narrowest sense, quality can be defined as “freedom from defects”. Product
quality has two dimensions –level and consistency. In developing a product, the marketer must
first choose a quality level that will support the product’s positioning .
• Product Features: A product can be offered with varying features. A stripped – down model, one
without any extras, is the starting point. The company can create higher-level models by adding
more features.
• Product style and design: Another way to add customer value is through distinctive product style
and design. Design is a larger concept than style. Style simply describes the appearance of a
product. Style can be eye-catching or yawn producing.
Product attributes Branding packaging Labeling Product Support Service
6. Branding: Perhaps the most distinctive skill of professional marketers is their ability to
build and manage brands. A brand is a name, term, sign, symbol, or a combination of
these, that identifies the maker or seller of a product or service.
Packaging: Packaging involves designing and producing container or wrapper for a
product. Traditionally, the primary function of the package was to hold and protect the
product. In recent items, however, numerous factors have made packaging important
marketing tools as well. Companies are realizing the power of good packaging to
create immediate consumer recognition of a brand. Thus for many companies, the
package itself has become an important promotional medium.
Labeling: Labels range from simple tags attached to products to complex graphics that
to complex graphics that are part of the package. They perform several functions.
Finally, the level might help to promote the band, support its positioning, and connect
with customers. For many companies, level have become important level elements in
broader marketing campaigns.
Product Support Service: Customer service is another element of product strategy. A
company’s offer usually includes some support services, which can be a minor or a
major part of the total offering. Later in the chapter, we will discuss services that as
products in themselves. Here, we discuss services that augment actual product.
7. Question-5
Discuss the product line decisions.
Product Line Decisions: A product line is a group of products that are closely related
because they function in a similar manner, are sold to the same customer groups, are
marketed through the same types of outlets, or fall within given price ranges.
Product line length is influenced by company objectives and resources. A company
can expand its product line in two ways:
• Product Line Filling: Product line filling involves adding more items within the
present range of line. There are several reasons for product line filling: reaching for
extra profits, satisfying dealers, using excess capacity, being the leading full-line
company and plugging holes to keep out competitors.
• Product Line Stretching: Product line stretching occurs when a company lengthens
its product line beyond its current range. The company can stretch its line downward,
upward, or both ways. Companies located at the upper end of the market can stretch
their line downward.
8. Question-6
Discuss the characteristics of service
The Nature and Characteristics of a service:
A company must consider four special service characteristics when designing
marketing programs: intangibility, inseparability, variability and perish ability.
Service intangibility: service intangibility means that services cannot be seen, tasted,
felt, heard, or smelled before they are bought. For example, people undergoing
cosmetic surgery cannot see the result before the purchase.
Service inseparability: service inseparability means that services cannot be separated
from their providers, whether the providers are people or machines. If a service
employee provides the service, then the employee becomes a part of the service.
Service variability: service variability means that the quality of services depends on who
provides them as well as when, where, and how they are provided.
Service perishability: service perishability means that services cannot be stored for
later sale or use. Some doctors charge patients for missed appointments because the
service value existed only at that point and disappeared when the patient did not
show up.
9. Question-7
As a marketing manager how can you develop a strong
brand?
Brand Equity: The differential effect that knowing the brand name has on customer has response to
the product or its marketing.
Building Strong Brands:
1. Brand Position:
Marketer needs to position their brands clearly in targets customers mind. Positioning
refers to the Act. Of designing the companies offering and image in such a way that it occupies a
distinctive place in the mind of the target customer.
2. Brand Name Selection:
A good name can add greatly to a products success. However finding the best brand name
is a difficult task. It begins with a careful review of the product and its benefits.
3. Brand Sponsorship:
A manufacturer has four sponsorship options. The product may be launched as a national
brand, as when sony and Kellogg sell their output under their own brand names.
* Co-branding- The Practice of using the established brand names of two different companies on
the same product.
4. Brand Development
A company has four choices when it developing brands duce line extensions, brand extensions,
multibrands or new brands.
Line extension: Extending and exiting brand name to new forms colors, sizes, ingredients,
or flavors of an existing product category.
Brand extension: Extending and existing brand name to new product categories.
Multibrands: Companies often introduce additional brands in the same category.
New Brand: A company might believe that the power of its existing brand name is waning
and a new brand name is needed.
5.Managing Brands
Managing brands requires managing touch points says a former Disney executive.