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Chapter 8 product, service, and brands (building customer value)

Chapter 8 product, service, and brands (building customer value)

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Disclaimer: I do not own the right in some few parts of this slide. Some slides credit goes to the individuals who share their slide.
FAIR USE:
"Copyright Disclaimer Under Section 107 of the
Copyright Act 1976, allowance is made for "fair use"
for purposes such as criticism, comment, news
reporting, teaching, scholarship, and research. Fair
use is a use permitted by copyright statute that
might otherwise be infringing. Non-profit,
educational or personal use tips the balance in favor
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Chapter 8 product, service, and brands (building customer value)

  1. 1. PRODUCT, SERVICE and BRANDS: BUILDING CUSTOMER VALUE
  2. 2. CHAPTER 8: LEARNING OBJECTIVES • Define Product • Understand the levels of product and services • Understand the decisions companies make regarding their individual products and services, product lines, and product mixes • Explain how companies build and manage their brands • Enumerate the four characteristics of service marketing
  3. 3. WHAT IS A PRODUCT? Product is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. —Also include services, events, persons, place, organizations, ideas, or a mixture of these—
  4. 4. EXAMPLES OF PRODUCT EVENT PLACE IDEAS(new product)
  5. 5. SERVICES  SERVICES are a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything. EXAMPLE S Doctor’s HAIR CUT Examination
  6. 6. Product, Service, Experience  PURE TANGIBLE GOOD  PURE SERVICE COMBINATION OF THIS TWO
  7. 7. Levels of Product CORE ACTUAL AUGMENTED CUSTOMER PRODECT PRODUCT VALUE To develop What is Offering product and additional the buyer service features, consumer really design, a quality services and level, a brand buying? name, and benefits. packaging.
  8. 8. AUGMENTED: ACTUAL: DELIVERY INSTALLATI ON BRAND PACKAGING CORE: BASIC CREDIT/ NEED, FEATURES WARRANTY PAYMENT QUALITY BENEFIT TERMS LEVEL DESIGN AFTER SALES SERVICES
  9. 9. NOKIA N8: THE CORE PRODUCT:  COMMUNICATION  MESSAGING
  10. 10. THE ACTUAL PRODUCT  PACKAGING-Anodised Aluminium case, available in 6 different colours. Size: 113.5 x 59 x 12.9 mm Weight (with battery): 135 g Volume: 86 cc  FEATURES-Works on Symbian ^3, Has a 12 MP camera, Radio and Music player and Gaming.  QUALITY LEVEL: Phone camera is of exceptional quality with HD recording.  BRAND: Nokia, which happens to be one of the most trusted cell phone brands in India.
  11. 11. AUGMENTED PRODUCT  DELIVERY: Then product can be purchased from any Electronic goods showroom. It can be also ordered online.  INSTALLATION: Not required.  WARRANTY: The product has a warranty period of 1 year.  AFTER SALE SERVICES: Can be acquired from any Nokia service centre.  CREDIT/PAYMENT
  12. 12. Product and service classification
  13. 13. Product and services classes Consumer products Industrial Products Are products and A product brought by services bought by individuals and final consumers for organizations for personal further processing for consumption. use in conducting a business.
  14. 14. Types of consumer product  Consumer Product  Convenience Product  Shopping Product  Specialty Product  Unsought Product
  15. 15. Marketing Convenience Shopping Specialty Unsought Consideratio ns Customer Frequent purchase, little Less frequent Strong brand Little product buying behavior planning, little purchase, much preference and loyalty, awareness comparison or shopping planning and special purchase effort, low customer shopping effort, effort, little comparison involvement comparison of of brands, low price brands on price, sensitivity quality, style Price Low price Higher Price High Price Varies Distribution Widespread distribution, Selective Exclusive distribution Varies convenient locations distribution in in only one or few fewer outlets outlets per market area Promotion Mass promotion by the Advertising and More carefully Aggressive advertising producer personal selling targeted promotion by and personal selling by both the both the producer and by the producer and producer and reseller reseller resellers Examples Toothpaste, magazines Clothing and Luxury goods such Life insurance and red and detergent appliances Rolex or fine crystals cross blood donations
  16. 16. Industrial Product types  Materials and parts - Raw materials and manufactured materials and parts.  Capital Items – Industrial products that aid in the buyer’s production or operation.  Supplies and services – Operating supplies and repair and maintenance items.
  17. 17. Organizations, Persons,Places and Ideas
  18. 18.  Organization marketing  Person marketing - - consist of activities consist of activities undertaken to create, undertaken to create, maintain, or change the maintain, or change the attitudes and behavior attitudes or behavior of target consumers toward particular towards an people. organization.
  19. 19.  Place marketing -  Ideas – is a concept or Involves activities mental impression, undertaken to create, ideas can also be maintain, or change the marketed. All marketing attitudes or behavior is the marketing of an toward particular idea. people.
  20. 20. Social Marketing  Theuse of commercial marketing concepts and tools in programs designed to influence individuals’ behavior to improve their well being and that of society.
  21. 21. Product and Service Decisions Product Product Branding Packaging Labeling Support and Attributes Services
  22. 22. Product and Service Attributes Developing a product or service involves defining the benefits that it will offer. - Product Quality - Product Features - Product Style and Design - Total Quality Management - - is an approach in which all of the company’s people are involved in constantly improving the quality of the products, services, and business.
  23. 23. Branding  A name, term, sign, symbol, design, or a combination of these, that identifies the products or services of one seller or group of sellers and differentiates them from those of competitors
  24. 24. Packaging  The activities of designing and producing the container or wrapper for the product.
  25. 25. Labeling  The label identify the product or brand.
  26. 26. Product Support and Services  Product Line Decisions - 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 range.  Product Mix Decisions - The set of al product lines and items that particular seller offers for sale
  27. 27. • Services Marketing – is a sub field of marketing, which can be split into the two main areas of goods marketing (which includes the marketing of fast moving consumer goods (FMCG) and durables) and services marketing. Services marketing typically refers to both business to consumer (B2C) and business to business (B2B) services.
  28. 28. Nature & Characteristics of a Service – Company must consider four special characteristics when designing marketing programs intangibility, inseparability, variability, and perishability. SERVICES Intangibility – Services cannot be seen, tasted, felt, heard or smelled before purchase. Inseparability – Services cannot be separated from their providers.
  29. 29. Variability – Quality of services depends on who provides them, when, where, & how. Perishability – Services cannot be stored for later sale or use.  Service-Profit Chain – Chain that links services firm profits with employee & costumer satisfaction. This chain consist of five links: Internal service quality – Superior employee section & training, a quality work environment, & strong support for those dealing with costumer.
  30. 30. Satisfied & productive service employees – More satisfied, loyal & hardworking employees. Greater service value – More effective & efficient costumer value. Satisfied & loyal costumers – Satisfied costumers who remain loyal, repeat purchase, and refer other costumers. Healthy service profits & growth – superior service firm performance.
  31. 31. Building Strong Brands 1. Brand Positioning 2.Brand Name Selection 3. Brand Sponsorship 4. Brand Development
  32. 32. Brand Positioning  What are the ATTRIBUTES of the product  What are the BENEFITS of the product  How about VALUES and BELIEFS
  33. 33. Brand Name Selection  It should suggest something about the product’s benefits and qualities  Easy to pronounce, recognize and remember  Brand name should be distinctive  Extendable
  34. 34. Brand Sponsorship  Manufacturer’s brand (National Brand)  Private Brand  Licensing  Co- branding
  35. 35. Private Brand  created and owned by reseller of a product or service
  36. 36. Licensing  is the accreditation of the brand name
  37. 37. Co- branding  the practice of using the established brand names of two different companies on the same product
  38. 38. Brand Development  Line Extensions  Brand Extensions  Multibrands  New Brands
  39. 39. Line Extensions  extending an existing brand name to new forms, color, sizes, ingredients or flavors of an existing product category
  40. 40. Brand Extension  Extending an existing brand name to new product categories
  41. 41. Multibrands  companies often market different brands in a given product category
  42. 42. New Brands  a company might believe that the power of its existing brand name is wanting, so new brand name needed

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