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When used effectively, the 7P’s of marketing will DEVELOP A PRODUCT NAME
achieve the two most important objectives of an
entrepreneur; Customer satisfaction and profitability. BRAND – Brand is a name or mark that is intended to
identify the seller’s product and differentiate it from the
THE 4M’S OF OPERATION product of the competitors. Ex. Apple, Nike, Coca-Cola,
Nescafe, Tide.
METHOD – the process of combining raw materials and Brand Mark – recognized by sight but cannot be
how these are going to be transformed using the other expressed.
factor inputs of production. Trademark – is a brand that have been adopted by the
seller and given legal protection. The trademark is
MANPOWER – The right human resources who will protected by operation of law under the DTI.
handle certain business operations. It is one of the Branding – protects the company from imitations and
highest cost if operating the business, but also the most fake products.
instrumental to its success.
Selecting a Good Brand Name
1. It should suggest about the product or service. 5. Pronounceability
2. It must be easy to pronounce and remember. 6. Limitations
3. It must be simple and short.
4. It must be distinct or different from others. DEVELOP A PRODUCT DESCRIPTION
5. It must be adaptable to new company product PRODUCT DESCRIPTION – In project management is a
that may be added. structured format of presenting information about a
6. It must be capable of registration and legal project product. Usually created by the project manager
protection. and approved by the project board.
The product description should be AUDIENCE
Different Strategies Used to Sell More Products FRIENDLY. All audience-friendly products must include
1. Branding within a product mix the keywords naturally optimized and incorporated into
a. Separate name for each product – This grammatically correct and high quality copy.
is often teamed as family branding. It is
simple and less expensive to introduce new THE STRUCTURE OF PRODUCT DESIGN
and related products to a line. 1. Identifier
b. Company name combined with the 2. Title or Topic
product name – The company name is best 3. Purpose or Aims
suited for marketing products that are 4. Composition
related in quality and use. 5. Derivation
c. The Company Name Alone – Branding 6. Format and Presentation
with the company name alone places a 7. Development Skill Required
great burden on the producer’s reputation 8. Quality Criteria
for quality if other products carrying the
same brand name may not make the grade PRODUCT SATISFYING FEATURES – Product patronage
and this will affect the other products in the in the market is conditioned by the strategies and
market. policies employed by the manufacturer and the
2. Branding for Market Situation marketing organization on the product’s attributes.
a. Introduction of Line Extension – This is
the strategy where brand names are 1. Design – It matters to the elements that
extended into new forms and sizes of an collectively form of good or service that will satisfy
existing category. customers and gain competitive advantage. Good
b. Introduction of Brand Extension – Thus design can improve the marketability of the product
strategy calls for the extension of the brand through its design and appearance.
name to new or modified product 2. Product Colors – Customer’s rejection or
categories. acceptance of the product. The possibility of
c. Introduction of New Brand Name – It is differential advantages comes in knowing the right
the strategy where a new brand name is color combination that will appeal to customers.
attached to a new product category. 3. Product Quality – This is the set of features and
attributes of a product or service that determine its
Reasons for the Existence of Brands ability to satisfy human needs. Optimal quality
1. Identification – Brands enable consumers to refers to a situation that the product or service
easily distinguish one product from another. provides the customers with an experience that
2. Protection – It enables the owner of the brand meets their expectations.
name to enjoy the goodwill associated with the 4. Product Warranties – One very important
name so as not to be taken advantage by others. attribute of the product. It is the state where the
3. Positioning – It enables the owner to buyer is assured that the product meets the
communicate the benefits of his product. specifications stated in the product labels.
Advantages of Prototype
- It tests and refines the functionality of the design.
- Keep records of the research showing that no similar
patented products in the same market
- Consider the commercial sales of value of the
invention.
- Create an informal drawing of the invention.
Testing a prototype is a vital or necessary part of design
and manufacturing process.
Method of Evaluation
1. Planning
2. Running Sessions
3. Output
Styles of Questions
Open-ended questions
Close-ended questions (strongly disagree,
disagree, etc…)
TYPES OF INDUSTRY
Primary industry - This sector of a nation’s economy
includes agriculture, forestry, fishing, mining, quarrying,
and the extraction of minerals. It may be divided into
two categories: genetic industry, including the
production of raw materials that may be increased by
human intervention in the production process; and
extractive industry, including the production of
exhaustible raw materials that cannot be augmented
through cultivation.
B2B (Business-to-business)
In a B2B business model, a business sells its
product or service to another business. Sometimes
the buyer is the end-user, but often the buyer
resells to the consumer. B2B transactions generally
have a longer sales cycle, but higher-order value
and more recurring purchases.
Recent B2B innovators have made a place for
themselves by replacing catalogs and order sheets with
ecommerce storefronts and improved targeting in niche
markets.
B2G (Business-to-government)
Business-to-government (B2G) is an ecommerce
model where a business sells and markets its
products to government entities or public
administrations — whether local, county, state or
federal.
This model relies on the successful bidding of
government contracts. A government agency will
typically put up a request for proposal (RFP) and
ecommerce businesses will have to bid on these
projects.
C2B (Consumer-to-business)
C2B businesses allow individuals to sell goods and
services to companies. In this ecommerce model, a site
might enable customers to post the work they want to
be completed and have businesses bid for the
opportunity. Affiliate marketing services would also be
considered C2B.
The C2B ecommerce model’s competitive edge
is in pricing for goods and services. This approach
gives consumers the power to name their prices or
have businesses directly compete to meet their
needs.
C2C (Consumer-to-consumer)
C2C ecommerce businesses — sometimes
referred to as online marketplaces — connect