Professional Documents
Culture Documents
Management
Submitted By:
Megha Omshree Kumawat
Kalpana Silawat
Namrata Kothari
What is a product?
Idea screening
Concept development
and testing
Concept testing
Conjoint analysis to
find out the best valued
attributes by consumers
Business analysis
The most customer appealing offer is
not always the most profitable to
make
Estimate on costs, sales
volumes,pricing and profit levels are
made to find out the optimal price
volume mix.
Breakeven and paybacks
Discounted cash flow projections
Market testing
Test
markets
Test periods
What
information
to gather?
What action
to take?
Commercialization
When?
Timing
Where?
Which
geographical
markets
To whom?
How?
Target
markets
Introductory
Marketing
strategy
Product Levels
Core
benefit
Basic
product
Expected
product
Augmented
product
Potential
product
Customer Delight
Product Hierarchy
Need
Product family
Product class
Product Line
Product type
Brand
Item
Product classification
Durable
Non durable
Services
Consumer goods
classification
Convenience goods
Shopping goods
Specialty goods
Unsought goods
Industrial goods
classification
Materials and Parts
- raw materials
- manufactured materials and parts
Capital items
Supplies and business services
Product Mix
Product rationalization
Market rationalization
Product line length
too long when profits increase by
dropping a product in the line
too short when profits increase by
adding products to the product line
Line pruning capacity restrictions to
decide
Brand
A name becomes a brand when
consumers associate it with a set of
tangible and intangible benefits that
they obtain from the product or
service
It is the sellers promise to deliver the
same bundle of benefits/services
consistently to buyers
Brand Equity
When a commodity becomes a brand,
it is said to have equity.
The premium a brand can command
in the market
The difference between the perceived
value and the intrinsic value
Levels of meaning
Attributes
Benefits
Values
Culture
Personality
Users
Brand Power
Customer will change brands for price
reasons
Customer is satisfied. No reason to
change.
Customer is satisfied and would take
pains to get the brand
Customer values the brand and sees
it as a friend
Customer is devoted to the brand
Advantages of branding
Brand parity
Umbrella Brand
Products from different categories
under one brand
Dangerous to the brand if the
principal brand fails
Sometimes the company name is
prefixed to the brand. In such cases
the company name gives it
legitimacy. The product name
individualises it.
Brand strategy
Brand Repositioning
Packaging
Includes the activities of designing
and producing the container for a
product
Packaging is done at three levels
- primary
- secondary
- shipping
Packaging as a marketing
tool
Self service
Consumer affluence
Company and brand image
innovation
Designing packaging
Packaging concepts
Technical specifications
Engineering tests
Visual tests
Dealer tests
Consumer tests
Packaging innovations
Environmental considerations
Labels
Identification
Grade classification
Description of product
Manufacturer identity
Date of mfg., batch no.
Instructions for use
Promotion