�Chapter Eight
Product, Services, and Branding Strategy
Chapter 8 - slide 1
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Product, Services, and Branding Strategy�
Topic Outline
Chapter 8 - slide 2
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What Is a Product?
Product is anything that can be offered in a market for attention, acquisition, use, or consumption that might satisfy a need or want.
Service is any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything.
Experiences represent what buying the product or service will do for the customer.
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Products, Services, and Experiences
Chapter 8 - slide 3
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What Is a Product?
Levels of Product and Services
Chapter 8 - slide 4
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What Is a Product?
Product and Service Classifications
Chapter 8 - slide 5
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What Is a Product?
Product and Service Classifications
Chapter 8 - slide 6
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What Is a Product?
Convenience products are consumer products and services that the customer usually buys frequently, immediately, and with a minimum comparison and buying effort
Product and Service Classifications
Chapter 8 - slide 7
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What Is a Product?
Shopping products are consumer products and services that the customer compares carefully on suitability, quality, price, and style
Product and Service Classifications
Chapter 8 - slide 8
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What Is a Product?
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
Product and Service Classifications
Chapter 8 - slide 9
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What Is a Product?
Unsought products are consumer products that the consumer does not know about or knows about but does not normally think of buying
Product and Service Classifications
Chapter 8 - slide 10
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What Is a Product?
Product and Service Classifications
Chapter 8 - slide 11
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What Is a Product?
Capital items are industrial products that aid in the buyer’s production or operations
Materials and parts include raw materials and manufactured materials and parts usually sold directly to industrial users
Supplies and services include operating supplies, repair and maintenance items, and business services
Product and Service Classifications
Chapter 8 - slide 12
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What Is a Product?
Organization marketing consists of activities undertaken to create, maintain, or change attitudes and behavior of target consumers toward an organization
Organizations, Persons, Places, and Ideas
Chapter 8 - slide 13
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What Is a Product?
Person marketing consists of activities undertaken to create, maintain, or change attitudes and behavior of target consumers toward particular people
Organizations, Persons, Places, and Ideas
Chapter 8 - slide 14
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What Is a Product
Place marketing consists of activities undertaken to create, maintain, or change attitudes and behavior of target consumers toward particular places
Social marketing is the use of commercial marketing concepts and tools in programs designed to influence individuals’ behavior to improve their well-being and that of society
Organizations, Persons, Places, and Ideas
Chapter 8 - slide 15
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Product and Services Decisions
Chapter 8 - slide 16
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Product and Services Decisions
Individual Product and Service Decisions
Chapter 8 - slide 17
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Product and Services Decisions
Product attributes are the benefits of the product or service
Individual Product and Service Decisions
Chapter 8 - slide 18
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Product and Services Decisions
Product quality includes level and consistency
Individual Product and Service Decisions
Chapter 8 - slide 19
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Product and Services Decisions
Product features are a competitive tool for differentiating a product from competitors’ products�
Product features are assessed based on the value to the customer versus the cost to the company
Individual Product and Service Decisions
Chapter 8 - slide 20
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Product and Services Decisions
Style describes the appearance of the product
Design contributes to a product’s usefulness as well as to its looks
Individual Product and Service Decisions
Chapter 8 - slide 21
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Product and Services Decisions
Brand is a set of mental (Rational and Emotional) affiliation evoked by name, sign, symbol influence in purchase decision.
Branding is all activities for building and managing brand to change overall consumer perceptions towards the brand.
Brand equity is the differential effect that the brand name has on customer response to the product and its marketing.
Individual Product and Service Decisions
Chapter 8 - slide 22
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Product and Services Decisions
Packaging involves designing and producing the container or wrapper for a product
Labels identify the product or brand, describe attributes, and provide promotion
Individual Product and Service Decisions
Chapter 8 - slide 23
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Product and Services Decisions
Product support services augment actual products
Individual Product and Service Decisions
Chapter 8 - slide 24
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Product and Services Decisions
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 Decisions
Chapter 8 - slide 25
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Product and Services Decisions
Product line length is the number of items in the product line
Product Line Decisions
Chapter 8 - slide 26
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Product and Services Decisions
Product mix consists of all the products and items that a particular seller offers for sale
Product Mix Decisions
Chapter 8 - slide 27
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Branding Strategy: Building Strong Brands
Brand Equity is the value build in a brand.
The total accumulated value or worth of a brand, the tangible and intangible assets that the brand contributes to its corporate parent, both financially and in terms of selling leverage.
Brand Equity
Chapter 8 - slide 28
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Branding Strategy: Building Strong Brands
Brand represents the consumer’s perceptions and feelings about a product and its performance. It is the company’s promise to deliver a specific set of features, benefits, services, and experiences consistently to the buyers
Building a Strong Brand
Chapter 8 - slide 29
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Branding Strategy: Building Strong Brands
Brand strategy decisions include:
Brand Positioning
Chapter 8 - slide 30
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Branding Strategy: Building Strong Brands
Desirable qualities
Brand Name Selection
Chapter 8 - slide 31
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Branding Strategy: Building Strong Brands
Brand Sponsorship
Chapter 8 - slide 32
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Branding Strategy: Building Strong Brands
Brand Development Strategies
Chapter 8 - slide 33
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�Services Marketing
Types of Service Industries
Chapter 8 - slide 34
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Services Marketing
Nature and Characteristics of a Service
Chapter 8 - slide 35
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Services Marketing
In addition to traditional marketing strategies, service firms often require additional strategies
Marketing Strategies for Service Firms
Chapter 8 - slide 36
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�Services Marketing
Service-profit chain links service firm profits with employee and customer satisfaction
Marketing Strategies for Service Firms
Chapter 8 - slide 37
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�Services Marketing
Internal marketing means that the service firm must orient and motivate its customer contact employees and supporting service people to work as a team to provide customer satisfaction
Internal marketing must precede external marketing
Marketing Strategies for Service Firms
Chapter 8 - slide 38
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Services Marketing
Interactive marketing means that service quality depends heavily on the quality of the buyer-seller interaction during the service encounter
Marketing Strategies for Service Firms
Chapter 8 - slide 39
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Services Marketing
Managing service differentiation creates a competitive advantage from the offer, delivery, and image of the service
Marketing Strategies for Service Firms
Chapter 8 - slide 40
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Services Marketing
Managing service quality provides a competitive advantage by delivering consistently higher quality than its competitors
Service quality always varies depending on interactions between employees and customers
Marketing Strategies for Service Firms
Chapter 8 - slide 41
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Services Marketing
Managing service productivity refers to the cost side of marketing strategies for service firms
Marketing Strategies for Service Firms
Chapter 8 - slide 42
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Chapter 8 - slide 43
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