This document provides an overview of product policy, brand management, and related concepts. It defines product policy and explains that it covers product planning, development, line, mix, branding, positioning, and packaging. Brand management is defined as creating and sustaining a brand by defining, positioning, and delivering on brand promises. The document also discusses products and classifications of products, including consumer versus industrial products and different consumer product types. It introduces concepts like the product model, issues in product management, market segmentation, targeting, differentiation, and positioning.

1. Product Policy
&
Brand Management
S. Thowseaf
Thought for the day
Do or Die Try – Because, when you try, you either learn or
attain success but never fail.

2. My disbeliefs
• Product Innovation
• Marketing
• Customer Oriented
• Market Driven
• Competition
• Competitiveness
Important Business Terminologies
• Teachers Teaching Through Talk (T.T.T.T.)
• Learners Listening Lectures (L.L.L.)

3. Introduction to Product Policy
PRODUCT POLICY
• Definition
Product policy is concerned with defining the type, volume and timing of products a company offers
for sale. The product policies are general rules set up by the management itself in making product
decisions. Good product policies are the basis on which the right products are produced and
marketed successfully.
• A product policy generally covers the following:
• Product Planning and Development
• Product Line
• Product Mix
• Product Branding
• Product Positioning
• Product Packaging

4. Introduction to Brand Management
BRAND MANAGEMENT
• Brand management begins with having a thorough knowledge of the term “brand”. It includes
developing a promise, making that promise and maintaining it. It means defining the brand,
positioning the brand, and delivering the brand. Brand management is nothing but an art of
creating and sustaining the brand. Branding makes customers committed to your business. A
strong brand differentiates your products from the competitors. It gives a quality image to your
business.
What is brand?
• Brands are different from products in a way that brands are “what the consumers buy”, while
products are “what concern/companies make”. Brand is an accumulation of emotional and
functional associations. Brand is a promise that the product will perform as per customer’s
expectations. It shapes customer’s expectations about the product. Brands usually have a
trademark which protects them from use by others. A brand gives particular information about the
organization, good or service, differentiating it from others in marketplace. Brand carries an
assurance about the characteristics that make the product or service unique. A strong brand is a
means of making people aware of what the company represents and what are it’s offerings.

5. Products and Classification of Products
Definition (Product)
• Product refers to anything that can be offered to a marketer for attention,
acquisition, use or consumption that might satisfy a want or need. A product is a
set of tangible and intangible attributes, which may include packaging, color,
price, quality, brand and seller’s services and reputations.
Definition (Product Classification)
• Product classifications help marketers focus their efforts using consumers’
buying behavior. Your business can use these buying habits to design your
marketing efforts for a clearly defined target audience. Consumer products are
often classified as convenience goods, shopping goods, specialty products or
unsought goods. Although these classifications are named as types of products,
focusing on how your customers buy these goods is equally important as you
classify products and develop your marketing campaigns.

6. Products and Classification of Products
Consumer product: Product bought by final consumer for personal consumption. There are four types of consumer goods.
• Convenience Product: Consumer product that the customer usually buys frequently, immediately, & with a minimum of comparisons and
buying effort. e.g. tea, coffee.
• Shopping Product: Consumer good that the customer purchase after the process of selection. It requires characteristically compares on
such bases as suitability, quality, price, and style. e.g. clothing , hairstyle.
• Specialty Product: Consumer product with unique characteristics or brand identification for which a significant group of buyers is willing
to make a special purchase effort. E.g. house, car, holidays.
Industrial Product: Product bought by individuals and organization for further processing or for use in conducting a business.
• Materials and parts: Raw materials are the basic materials that actually become part of the product. They are provided form mines, forests,
oceans, farms and recycled solid wastes.
• Capital Items: Capital items consist of office accessories and operating materials.
• Supplies: Supplies facilitate productions, but they do not become part of the finished product. Paper, pencils, oils, cleaning agents and
paints are examples.
• Industrial Services: Industrial services include maintenance and repair services such as machinery repair and business advisory services
such as legal, management, consulting, advertising, marketing research services. These services can be acquire internally as well as
externally.

7. Product model
• Core benefit: Fundamental service
• Generic product: Additional Features
• Expected product: Attributes and conditions that buyer normally expects.
• Augmented product: It includes additional services and benefits that differentiate the company from competitor.
• Potential product: The product attempts to satisfy all consumers’ needs and wants related to the product and thereby
make the customer happy.
Potential product
Augmented product
Expected product
Generic product
Core benefit

8. Conceptual issues in product management
What is product management?
• The product management process consists of generating, analyzing, organizing, planning, implementation
and control of the firm’s existing and new product efforts so as to satisfy the needs and wants of chosen
customer segments while fulfilling organizational objectives. By: Yoram wind, the product ‘Guru’.
Issues in product management
• What new product to introduce?
• Which existing product to modify?
• What branding policy to follow?
• Decision making – Corporate level, Strategic business unit: Divisional level, Product line manager, Brand
manager
• Key factors affecting product decision
• Customer
• Competition
• Environmental factor
• Firm internal analysis
• Marketing efforts

9. Marketing strategy: segmenting, targeting,
differentiation and positioning
Market Segmentation
• Market Segmentation is the process of dividing a market up into distinct groups of
buyers who have different needs, characteristics or behaviors, and who might require
separate products or marketing programs. A Segment is a group of consumers who
respond in similar way to a given set of marketing efforts (demand is influenced by the
same factors).
Bases Of Segmentation
• Geographic – nations, states, regions, cities
• Demographic – age (glare, taste, touch), gender, family size, family life cycle, income,
occupation, religion, race, nationality
• Psychographic – social class, lifestyle, socio-economic, values - AIO or personality
characteristics
• Behavioral – occasions (Valentine’s Day), types of benefits sought, user status (new,
regular, ex/non), usage rate, loyalty status, attitude & readiness stage

10. Marketing strategy: segmenting, targeting,
differentiation and positioning
Market Targeting
• Targeting is about evaluating each segment’s attractiveness & selecting 1
or more segments to enter. A target market is a group of customers for
whom a seller designs a particular marketing mix.
Evaluating Market Segments
• Size & Growth – collect data on growth rates, sales & expected
profitability. Right size & growth is a relative matter
• Structural Attractiveness – number & aggressiveness of competitors,
substitute products & powerful buyers/suppliers
• Company Objectives & Resources – Mesh with the company’s long run
objectives.

11. Differentiation and positioning
Differentiation
• Differentiation looks to make a product more attractive by contrasting its unique qualities with other competing products.
Positioning
• A products position is the way the product is defined by consumers on important attributes – the place the product occupies in
consumers’ minds relative to competing products - based on perceptions, impressions & feelings. E.g. Porsche positioned as a
performance car.
Steps for differentiation and positioning
Step 1 – Identify A Set Of Differentiating Competitive Advantages Upon Which To Build A Position (General To The Industry)
Step 2 – Identifying And Choosing The Right Competitive Advantages
• Product Differentiation – features, performance, style, consistency, reliability, durability & design
• Service Differentiation – speedy, convenient or careful delivery, installation or repair
• Channel Differentiation – channel coverage, expertise & performance. Amazon has smooth functioning direct channel
• People Differentiation – hiring & training employees better than competitors
• Image Differentiation – establish images to convey offerings distinctive benefits & positioning + symbols & sponsorship
Step 3 – Selecting An Overall Positioning Strategy

12. Thanks for your time & patience
When you bow down before books, you will rise up against crowd.
• Kindly read the notes provided and be prepared for Group Discussion and Synopsis Test in next
session.
• Followed by Group Discussion and Synopsis Test – Case study will be provided. Hence, please
don’t read, Generously make effort to learn for your good.
Best book for reference: A.K. Chtitale & Ravi Gupta – 2016, Product policy and brand
management – Third Edition, PHI publications.
 Cost Rs. 325/-, if ordered through amazon it would cost – 247+50 = Rs.297/-
In case if you have any doubt, feel free to contact me during official hours or E-mail the question to
thowseaf786@gmail.com