Diese Präsentation wurde erfolgreich gemeldet.
Wir verwenden Ihre LinkedIn Profilangaben und Informationen zu Ihren Aktivitäten, um Anzeigen zu personalisieren und Ihnen relevantere Inhalte anzuzeigen. Sie können Ihre Anzeigeneinstellungen jederzeit ändern.

Chapter 5 Product Strategy

9.110 Aufrufe

Veröffentlicht am

Marketing (Product Strategy) - Discuss about levels of product, product classification, brand strategies, packaging and labeling of the consumer products.

Veröffentlicht in: Bildung
  • Als Erste(r) kommentieren

Chapter 5 Product Strategy

  1. 1. Chapter 5 Product Strategy Prepared by: Nor Izzuddin Bin Norrahman Lecturer of Management, Banking & Islamic Finance Astin College
  2. 2. • A product can be defined as – Anything that can be offered to a market attention, acquisition, use, or consumption that might satisfy a want or need. • It includes: – Physical Objects – Services – Persons – Places – Organizations – Ideas
  3. 3. LEVELS OF PRODUCT
  4. 4. Core Product • The most basic level • Address the question: what is the buyer really buying? • Problem-solving benefits • The benefit that the consumers will receive • Example?
  5. 5. Actual Product • Build around the core products • Basically have 5 Characteristics: – Quality level – Features – Design – Brand name – Packaging
  6. 6. Augmented Product • Built around both core and actual product • By offering additional consumer services and benefits • Examples?
  7. 7. Example
  8. 8. PRODUCT CLASSIFICATION • Products and services fall into two broad classes based on the types of consumers that use them: – Consumer Products – Industrial Products
  9. 9. Consumers Product • Are those brought by final consumers for personal consumption. • Marketers usually classify these goods – Convenience Goods – Shopping Goods – Specialty Goods – Unsought Goods
  10. 10. Marketing Consideration for Consumer Products
  11. 11. Convenience Products • Consumer products and services that the consumer usually buys: • FREQUENTLY, • Immediately, • And with a minimum of comparison and buying effort. • Examples?
  12. 12. Shopping Products • Less frequently purchased. • Customer will COMPARE carefully on: – Suitability – Quality – Price – Style • Much time and effort needed to: – Gather info – Compare
  13. 13. Specialty Products • Consumer products & services that have UNIQUE characteristics. • Which significant group is WILLING to buy • Example?
  14. 14. Unsought Products • Either: – Consumer does not know about the products – Consumer does not think to buy the products • Example?
  15. 15. INDIVIDUAL PRODUCTS DECISIONS Product attributes Branding Packaging Labeling Product support services
  16. 16. Product Attributes • Developing a product or services involves defining the BENEFITS that it will offer. • These benefits measured by: – Quality – Features – Design
  17. 17. Product Attributes • Product Quality – Two dimensions: • Level – In developing product, the marketer must choose quality level – To support the product position in market – Examples? • Consistencies – Conformance quality – Freedom from defects and consistency in delivering a targeted level of performance – Examples?
  18. 18. Product Attributes • Product Features – A product can be offered by varying features. – Should ask question: • How do you like the product? • Which specific features do you like the most? • Which features that you want us to add in the products?
  19. 19. Product Attributes • Product Designs – Design is a larger concept than style – Style – simply describe appearance of a product, but it doesn’t necessarily make the product perform better. – Good design contributes to a product’s USEFULNESS as well as it’s looks. – Good design can attract attention, improve product performance, cut production costs and give strong competitive advantage.
  20. 20. Branding • A brand is a name, symbol, term, sign, or design, or combination of these, that identifies the maker or seller of a product or services. • It help consumers identify the products. • It also tell the buyer something about the product
  21. 21. Branding • Brand Equity – Brands vary in the amount of power and value – A powerful brand has high brand equity. – High brand equity provides competitive advantages. – It also will affected the consumer brand awareness and loyalty.
  22. 22. Branding • Brand Name Selection – A good name can add greatly to a product’s success. – Desirable qualities for a brand name includes: • Suggest benefits and qualities (examples?) • Easy to pronounce, recognize and remember (examples?) • Distinctive (Examples?) • Translate easily to foreign language • Should be capable of registration and legal protection
  23. 23. Branding • Brand Sponsor – Four sponsorship options: • Manufacturer’s brand • Private brand – Hard to establish / costly – Yield high profit – cannot be bought at other competitors • Licensing – Use well-known celebrity • Co-Branding – Mix the company resources with another company to create a product
  24. 24. Brand Strategies
  25. 25. Brand Strategies • Line Extension – When company introduces ADDITIONAL items in a given product category under the same brand name. – Examples: Flavors, colors, ingredients – It is a low cost & low risk method in introducing the new products. – Risk: overextended – might lose its specific meaning (Coke vs Diet Coke, Coke Zero, Vanilla Coke)
  26. 26. Brand Strategies • Brand Extensions – Involves the use of a successful brand name to launch a NEW or MODIFIED PRODUCTS in a NEW CATEGORY] – Example: Honda (Motorcycles, Cars, etc.) – Pro: Instant recognition & faster acceptance – Cons: if the brand extension fails, it may harm the consumer attitude towards the brand name.
  27. 27. Brand Strategies • Multi-brands – Company often introduce additional brands in the same category – Example: Watches (CASIO) • G-Shock (Durability) • Edifice (Low-Price) • Others? – Why they do that? Isn’t the buyer will become more confuse on which watch that they want to buy? – Pro: To protect the flanks of its CASIO brand in the watches industry – Cons: May not profitable when it only meet small market share. (sources which they have separated is wasted)
  28. 28. Brand Strategies • New brands – A company may create a new brand name when it enter a new category. – Or because a company might believe that the power of its existing brand name is waning and need a new one. – Example: Nestle -> MILO, HONEY STAR, NESCAFE – Pros? – Cons?
  29. 29. Brand Strategies • Mega-brands – Weeding out weaker brands – Focusing the resources only on brands that can achieve number one or two in the market – Share positions in their categories. – Examples? – Pros? – Cons?
  30. 30. Packaging • Packaging involve designing and producing the container or wrapper for a product. • The package may include: – The Brands name – The instruction manual – Ingredients – Others? • Why we need it?
  31. 31. Labeling • Labels may range from simple tags to complex graphic attached with the package. • It perform several function: – Identifies brand or product • Sunkist -> print on an orange picture – Describe several thing about the product • Who made it? Where are they from? Expired Date – Promote the product • NEW PRODUCT! NEW FORMULA!
  32. 32. The End….any question? 

×