Marketing kotler product service and brands moghimi

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Information about Marketing kotler product service and brands moghimi

Published on April 10, 2013

Author: bmoghimi


Lecturer: Bahman Moghimi Doctor of Business Administration M.Sc. Of “Industrial Marketing & e-Commerce” Product, services, and branding strategy University of Georgia

Looking Ahead Define product and the major classifications of products and services. Describe the roles of product and service branding, packaging, labeling and product support services. Explain the decisions companies make when developing product lines and mixes. Identify the four characteristics that affect the marketing of a service. Discuss the additional marketing considerations that services require.

Definitions Product: any market offering that is intended to satisfy a want or need. Service: a type of product that is intangible and does not result in the ownership of anything. Experience: a type of product that combines a service or physical product with a memorable

What is a Product ? Anything that can be offered to a market for attention, acquisition, use or consumption and that might satisfy a want or need. Includes: physical objects, services, events, persons, places, organizations, ideas or some combination

What is a Service ? A form of product that consists of activities, benefits or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything. Examples: banking, hotel, airline, retail, tax preparation, home

Levels of product and servicesFigure 11- Core benefit; What is the buyer is really buying? Example: People buy camcorders to capture important moment.2- Actual product; Features, brand name, quality, and packaging help the product to be delivered, like Features of the camcorder.3- Augmented product; additional consumer services after sale. Warranty, delivery, credit, installation, service

Levels of Product Figure

Products and Services Classifications;1- Consumer products; products and services bought by end users. Convenience, shopping, specialty, and unsought products ( Figure 2).2- Industrial products; purchase for further processing or for use in conducting a business. Material, parts, capital items, and supplies and services.3- Organizations, persons, places, and ideas; - Corporate image advertising - People; lawyers, doctors,,, market them-selves. - places; attract people to cities, region… - Ideas; crest “ create smiles everyday”. Social ideas to create social marketing to influence people

Consumer productsConvenience Products Shopping Products Buy frequently & immediately  Buy less frequently Low priced  Higher price Mass advertising  Fewer purchase locations Many purchase locations  Comparison shopi.e. Candy, newspapers i.e. Clothing, cars, appliancesSpecialty Products Unsought Products Special purchase efforts  New innovations High price  Products consumers don’t Unique characteristics want to think about Brand identification  Require much advertising & Few purchase locations personal sellingi.e. Lamborghini, Rolex i.e. Life insurance, blood donation

Social marketing: The use of commercial marketing concepts and tools inprograms designed to influence individuals’ behavior to improve their well-beingand that of society.

Individual Product

Product and Service decisions1- Product attributes: Quality.  Performance and satisfaction includes level and consistency. Features.  Differentiates a product from the competition.  Assessed based on value and cost. Style and design.  Style equals appearance: Design is the heart of the product.

Product and Service decisions (Cont.)2- Branding:Is a name, term, sign, symbol, design or combination of these thatidentifies the maker or seller of a product or service.  Advantages to Branding  Brand Equity  Buyers:  Higher brand loyalty  Identification  Name awareness  Quality and value  Perceived quality  Sellers  Strong brand associations  Tells a story  Patents, trademarks,  Provides legal protection channel relationships  Helps segments markets

Product and Service decisions (Cont.)3- Packaging: Developing a good wrapper for a product.  Packaging concept.  Package elements.  Product safety.  Environmental concerns. 4- Labeling:  Identify the product  Weights/measures  Description/instructions  Ingredients  Nutritional information

Product and Service decisions (Cont.)5- Product support services; Customer service Assess the value of current services and obtain ideas for new services. Assess the cost of providing the services. Put together a package of services that delights the customers and yields profits for the company.

Product Line DecisionsProduct line: Group of closely related products due to function, similar target markets, outlets sold in, or similar pricing- Length: number of items in the product line.- Line stretching: adding items to either. High-end of theline can be stretched downwards. Marriott, Mercedes. - Line filling: adding items within the product line range.Increase sizes,

Product Mix Decisions A product mix (product portfolio) consists of all the Width Length product lines and items that a particular seller offers for sale Depth Consistency

Branding Strategy : Building strong BrandsBrand equity:  Positive differential effect that knowing the brand name has on customer response to the product or service.  Brands are more than just names and symbols. Brands represent consumer’s perceptions and feelings about a product and its performance.  Brands exits in the mind of consumers. Major Brand Strategy Decisions: Figure 3

Major Brand strategy decisionFigure 3 Figure 10.3

Major Brand Strategy Decisions1- Brand positioning: Can position brands at any of three levels.  Product attributes.  Product benefits.  Consumer beliefs and values.2 - Brand name selection:  Suggest something about the product’s benefits  Easy to pronounce, recognize, and remember  Distinctive and Extendable  Ability to be translated into other languages  Capable of being registered and legally protected

Major Brand Strategy Decisions 3- Brand sponsorship: Manufacturer’s brand  Brand sponsored and promoted by the producer of the good, such as Pepsi, IBM. Private brand  Brand created and owned by a reseller of a product or service such as President’s Choice.  Licensing 4- Brand development, Figure 4

Brand Development StrategiesFigure

Bahman’s Mind-Map for Branding

Some Definitions Licensing. Most manufacturers take years and spend millions to create their own brand names. However, some companies license names or symbols previously created by other manufacturers, names of well-known celebrities, or characters from popular movies and books. For a fee, any of these can provide an instant and proven brand name. Co-branding. The practice of using the established brand names of two different companies on the same product. ............................................................. Line extension. Extending an existing brand name to new forms, colors, sizes, ingredients, or flavors of an existing product category. Ex.. Coke. Brand extension. Extending an existing brand name to new product categories. For example, Kellogg’s has extended its Special K cereal brand into a full line of cereals plus lines of crackers, fruit crisps, snack and nutrition bars, breakfast shakes, protein waters, and other health and nutrition products. Multi-branding. offers a way to establish different features that appeal to different customer segments, lock up more reseller shelf space, and capture a larger market share. For example, P&G’s six laundry detergent brands combined capture a whopping 62 percent of the U.S. laundry detergent market New Brand. …

Service MarketingService Characteristics Intangibility.  Cannot be seen, tasted, felt or smelled before purchasing. Inseparability.  Consumed when it is provided and cannot be separated from the provider. Variability.  Quality depends on who provides. Perishability.  Cannot be stored or resold. Figure

Nature and characteristics of service Figure 5

Marketing in Service IndustriesService profit chain: chain:1- Internal service quality: selecting, hiring, training, talent employees leads to :2- Satisfied employees: loyal productive, happy employees lead to:3- Greater service value: High quality service delivery leads to:4- Satisfied and loyal customers; loyal, repeat purchase leads to;5- Business growth and profit: superior service performance. Internal Profit Satisfied Service Satisfied Service & employees Value customers quality growth

Managing Service Differentiation Differentiate offer by:  Innovative features  Service delivery  Images or symbols Service quality Service recovery: retain angry customers Service productivity: - lowering the overhead costs - Increase service

Additional Product Considerations Product decisions and social responsibility  Government regulation  Food and product safety  Pricing and advertising  Labeling, weights, and measures  Hazardous products  Product liability International product and service marketing  Standardization versus local adaptation  Electrical standards, packaging  Cultural differences in meaning  Barriers to

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