roducL and 8rand ManagemenL

JaL ls a producL?
W A producL ls any offerlng by a company Lo a
markeL LaL serves Lo saLlsfy cusLomer needs
and wanLs
W lL can be an ob[ecL servlce ldeaeLc
-ew roducL uevelopmenL
W MosL new producL developmenL ls an
lmprovemenL on exlsLlng producLs
W Less Lan 10 of new producLs are LoLally new
concepLs
uccess raLe of new producLs
W 1e success raLe of new producLs ls very low
less Lan 3 '?ou ave Lo klss a loL of frogs Lo
flnd a prlnce"
W roducL obsolescence ls rapld wlL
lmprovemenLs ln Lecnology
W orLer LCs
roducL uevelopmenL Lages
W ldea generaLlon
W ldea screenlng
W ConcepL developmenL and LesLlng
W ConcepL LesLlng
W Con[olnL analysls Lo flnd ouL Le besL valued
aLLrlbuLes by consumers
8uslness analysls
W 1e mosL cusLomer appeallng offer ls noL
always Le mosL proflLable Lo make
W LsLlmaLe on cosLs sales volumesprlclng and
proflL levels are made Lo flnd ouL Le opLlmal
prlce volume mlx
W 8reakeven and paybacks
W ulscounLed cas flow pro[ecLlons
MarkeL LesLlng
W 1esL markeLs
W 1esL perlods
W JaL lnformaLlon Lo gaLer?
W JaL acLlon Lo Lake?
CommerclallzaLlon
W Jen? (1lmlng)
W Jere? (Jlc geograplcal markeLs)
W 1o wom? (1argeL markeLs)
W Pow? (lnLroducLory MarkeLlng sLraLegy)
roducL Levels
CusLomer value lerarcy
W Core beneflL
W 8aslc producL
W LxpecLed producL
W AugmenLed producL
W oLenLlal producL
CusLomer uellgL
W Jen you exceed cusLomer expecLaLlons
roducL Plerarcy
W -eed
W roducL famlly
W roducL class
W roducL Llne
W roducL Lype
W 8rand
W lLem
roducL classlflcaLlon
W uurable
W -on durable
W ervlces
Consumer goods classlflcaLlon
W Convenlence goods
W opplng goods
W peclalLy goods
W unsougL goods
lndusLrlal goods classlflcaLlon
W MaLerlals and arLs
raw maLerlals
manufacLured maLerlals and parLs
W CaplLal lLems
W upplles and buslness servlces
roducL Mlx
W 1e assorLmenL of producLs LaL a company offers Lo
a markeL
W JldL ow many dlfferenL producL llnes?
W LengL Le number of lLems ln Le producL mlx
W uepL 1e no of varlanLs offered ln a producL llne
W ConslsLency ow closely Le producL llnes are
relaLed ln usage
roducL Llne declslons
W roducL raLlonallzaLlon
W MarkeL raLlonallzaLlon
W roducL llne lengL
Loo long wen proflLs lncrease by dropplng a
producL ln Le llne
Loo sorL wen proflLs lncrease by addlng producLs
Lo Le producL llne
W Llne prunlng capaclLy resLrlcLlons Lo declde
8rand
W A name becomes a brand wen consumers
assoclaLe lL wlL a seL of Langlble and
lnLanglble beneflLs LaL Ley obLaln from Le
producL or servlce
W lL ls Le seller's promlse Lo dellver Le same
bundle of beneflLs/servlces conslsLenLly Lo
buyers
8rand LqulLy
W Jen a commodlLy becomes a brand lL ls sald
Lo ave equlLy
W 1e premlum a brand can command ln Le
markeL
W 1e dlfference beLween Le percelved value
and Le lnLrlnslc value
Levels of meanlng
W ALLrlbuLes
W 8eneflLs
W values
W CulLure
W ersonallLy
W users
8rand ower
W CusLomer wlll cange brands for prlce reasons
W CusLomer ls saLlsfled -o reason Lo cange
W CusLomer ls saLlsfled and would Lake palns Lo
geL Le brand
W CusLomer values Le brand and sees lL as a
frlend
W CusLomer ls devoLed Lo Le brand
8rand LqulLy CompeLlLlve
AdvanLages
W 8educed markeLlng cosLs
W 1rade leverage
W Can carge a lger prlce
W Can easlly launc brand exLenslons
W Can Lake some prlce compeLlLlon
Managlng 8rand LqulLy
W 8rand LqulLy needs Lo be nourlsed and
replenlsed Je musL noL flog Le brand for
equlLy Lo be dlluLed or dlsslpaLed
W Lore brands
AdvanLages of brandlng
W Lasy for Le seller Lo Lrack down problems and
process orders
W rovlde legal proLecLlon of unlque producL feaLures
W 8randlng glves an opporLunlLy Lo aLLracL loyal and
proflLable seL of cusLomers
W lL elps Lo glve a producL caLegory aL dlfferenL
segmenLs avlng separaLe bundle of beneflLs
W lL elps bulld corporaLe lmage
W lL mlnlmlses arm Lo company repuLaLlon lf Le
brand falls
8rand parlLy
W Consumers buy from a seL of accepLable/
preferred brands
umbrella 8rand
W roducLs from dlfferenL caLegorles under one
brand
W uangerous Lo Le brand lf Le prlnclpal brand
falls
W omeLlmes Le company name ls preflxed Lo
Le brand ln suc cases Le company name
glves lL /eqitimocy 1e producL name
individuo/ises lL
-amlng Le 8rand
W roducL beneflLs
W roducL quallLles
W Lasy Lo pronounce
W ould be dlsLlncLlve
W ould noL ave poor meanlngs ln oLer
languages and counLrles
8rand sLraLegy
W Llne exLenslon exlsLlng brand name exLended Lo
new slzes ln Le exlsLlng producL caLegory
W 8rand exLenslon brand name exLended Lo new
producL caLegorles
W MulLlbrands new brands ln Le same producL
caLegory
W -ew brands new producL ln a dlfferenL producL
caLegory
W Cobrands brands bearlng Lwo or more well known
brand names
8rand 8eposlLlonlng
W 1ls may be requlred afLer a few years Lo face
new compeLlLlon and canglng cusLomer
preferences
ackaglng
W lncludes Le acLlvlLles of deslgnlng and
produclng Le conLalner for a producL
W ackaglng ls done aL Lree levels
prlmary
secondary
slpplng
ackaglng as a markeLlng Lool
W elf servlce
W Consumer affluence
W Company and brand lmage
W lnnovaLlon
ueslgnlng packaglng
W ackaglng concepLs
W 1ecnlcal speclflcaLlons
W Lnglneerlng LesLs
W vlsual LesLs
W uealer LesLs
W Consumer LesLs
W ackaglng lnnovaLlons
W LnvlronmenLal conslderaLlons
Labels
W ldenLlflcaLlon
W Crade classlflcaLlon
W uescrlpLlon of producL
W ManufacLurer ldenLlLy
W uaLe of mfg baLc no
W lnsLrucLlons for use
W romoLlon
Labels as a markeLlng Lool
W Labels need Lo cange wlL Llme or packaglng
canges Lo glve lL a conLemporary and fres
look