PRODUCT AND BRAND

STRATEGY
Developing product strategies
• PRODUCT MANAGEMENT
• PRODUCT LIFE CYCLE
• PRODUCT AUDIT
PRODUCT MANAGEMENT
• Product Definition
• Product Classification
• Product Quality and Value
• Branding
• Packaging
Product Definition
• -how a product is to be percepted in a target market.
• Tangible product or extended product?
• Flexibility in product definition (purpose/ market segmentation)
Product Classification
• Classified according to attributes
• Consumer products and customer/organizational products
Product quality
• Degree of excellence or superiority that a product possesses.
• Quality is subjective (consumers’ perspective)
• How to standardize quality?- TQM (kaizen, six-sigma, JIT, employee
empowerment, benchmarking, etc.)
Branding
• Branding considerations and BRAND EQUITY
• Product quality
• Consistent advertising
• Intensity of distribution- seeing the brand everywhere
LINE EXTENSION (NATURE SPRING’S BOTTLED WATER TO FLAVORED WATER)
BRAND EXTENSION (CASIO KEYBOARDS AND CALCULATORS)
DUAL BRANDING/ CO-BRANDING (TIDE WITH DOWNY)
MULTIBRANDING-assigning new names for each product line
Packaging
• To emphasize distinctiveness or uniqueness.
• DURABILITY
• OPENING
• LABELING
• SIZE
PRODUCT LIFE- CYCLE
PRODUCT AUDIT
• Product Deletions
• Product Improvement