Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product...
-
Upload
edmund-ralf-jennings -
Category
Documents
-
view
219 -
download
0
Transcript of Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product...
![Page 1: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/1.jpg)
Chapter 10 Product and Brand Decisions
![Page 2: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/2.jpg)
10-2
Introduction to Brands and Products
Brand and product conceptsLocal, international, and global brandsProduct design issuesAttitudes toward foreign productsStrategic alternativesNew product issues
![Page 3: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/3.jpg)
10-3
Basic Product Concepts
A product is a good, service, or idea
Tangible attributesIntangible attributes
Product classificationConsumer goodsIndustrial goods
![Page 4: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/4.jpg)
10-4
Product Types
Buyer orientationAmount of effort expended on purchaseConveniencePreferenceShoppingSpecialty
![Page 5: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/5.jpg)
10-5
Brands
Bundle of images and experiences in the customer’s mindA promise made by a particular company about a particular productA quality certificationDifferentiation between competing productsThe sum of impressions about a brand is the brand image
![Page 6: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/6.jpg)
10-6
Brand Equity
The added value that accrues to a product as a result of investments in the marketing of the brandAn asset that represents the value created by the relationship between the brand and customer over time
![Page 7: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/7.jpg)
10-7
Local Products and Brands
Brands that have achieved success in a single national marketRepresent the lifeblood of domestic companiesEntrenched local products/brands can be a significant competitive hurdle to global companies
![Page 8: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/8.jpg)
10-8
International Products and Brands
Offered in several markets in a particular region
Euro brands
The Smart car was developed by DaimlerChrysler for the European market.
![Page 9: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/9.jpg)
10-9
Global Products and Brands
Global products meet the wants and needs of a global market and are offered in all world regionsGlobal brands have the same name and similar image and positioning throughout the world
![Page 10: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/10.jpg)
10-10
Global Brand Characteristics
Quality signal—allows a company to charge a premium price in a highly competitive marketGlobal myth—marketers can use global consumer culture positioning to link the brand identity to any part of the worldSocial responsibility—shows how a company addresses social problems
![Page 11: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/11.jpg)
10-11
Global Products and Brands
Global brands are not the same as global products
iPod = brandMp3 player= product
![Page 12: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/12.jpg)
10-12
Branding Strategies
Combination or tiered branding allows marketers to leverage a company’s reputation while developing a distinctive identity for a line of products
Sony Walkman
Co-branding features two or more company or product brands
NutraSweet and Coca-ColaIntel Inside
![Page 13: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/13.jpg)
10-13
Brand Extension
Brand acts as an umbrella for new products
Ex: The Virgin Group• Virgin Entertainment: Virgin Mega-stores and MGM
Cinemas• Virgin Trading: Virgin Cola and Virgin Vodka• Virgin Radio• Virgin Media Group: Virgin Publishing, Virgin
Television, Virgin Net• Virgin Hotels• Virgin Travel Group: Virgin Atlantic Airways, Virgin
Holidays
![Page 14: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/14.jpg)
10-14
World’s Most Valuable Brands, 20061. Coca-Cola2. Microsoft3. IBM4. GE5. Intel6. Nokia7. Toyota8. Disney
17. Louis Vuitton18. Cisco19. Honda20. Samsung21. Merrill-Lynch22. Pepsi23. Nescafe24. Google25. Dell
9. McDonald’s10.Mercedes-Benz11.Citi12.Marlboro13.Hewlett-
Packard14.American
Express15.BMW16.Gillette
![Page 15: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/15.jpg)
10-15
Global Brand Development
Questions to ask when management seeks to build a global brand
Does this move fit the company and/or its markets?Will anticipated scale economies materialize?How difficult will it be to develop a global brand team?Can a single brand be imposed on all markets successfully?
![Page 16: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/16.jpg)
10-16
Global Brand Development
Global brand leadershipUsing organizational structures, processes, and cultures to allocate brand-building resources globally, to create global synergies, and to develop a global brand strategy that coordinates and leverages country brand strategies
![Page 17: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/17.jpg)
10-17
Global Brand Development
Create a compelling value propositionThink about all elements of brand identity and select names, marks, and symbols that have the potential for globalizationResearch the alternatives of extending a national brand versus adopting a new brand identity globallyDevelop a company-wide communication system
![Page 18: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/18.jpg)
10-18
Global Brand Development
Develop a consistent planning processAssign specific responsibility for managing branding issues Execute brand-building strategiesHarmonize, unravel confusion, and eliminate complexity
![Page 19: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/19.jpg)
10-19
Slide 11-90
Big brand requires less brain work (top) than weaker one.
This Is Your Brain . . . .
![Page 20: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/20.jpg)
10-20
Local versus Global Products and Brands: A Needs-Based Approach
Physiological
Safety
Social
External/Internal Esteem
Self-actualization
Maslow’s hierarchy of needs
![Page 21: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/21.jpg)
10-21
Asian Hierarchy of Needs
![Page 22: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/22.jpg)
10-22
Packaging
Consumer packaged goods refers to products whose packaging is designed to protect or contain the product during shipping, at retail, or point of useEco-packaging is key because package designers must address environmental issuesOffers communication cues that provide consumers with a basis for making a purchase decision
![Page 23: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/23.jpg)
10-23
Labeling
Provides consumers with various types of informationRegulations differ by country regarding various products
Health warnings on tobacco productsAmerican Automobile Labeling Act clarifies the country of origin and final assembly pointEuropean Union requires labels on all food products that include ingredients from genetically modified crops
![Page 24: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/24.jpg)
10-24
AestheticsGlobal marketers must understand the importance of visual aestheticsAesthetic styles (degree of complexity found on a label) differ around the worldAesthetic elements that are deemed appropriate, attractive, and appealing in one’s home country may be perceived differently elsewhere.
![Page 25: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/25.jpg)
Red: South Africa = mourning; India = purity; China = celebration, good luck; Russia = Bolsheviks, communism; Western = excitementYellow: China = nourishing; Egypt = mourning; India = merchants; Western = hazard, warning, hope
10-25
![Page 26: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/26.jpg)
Green: China = exorcism; India = Islam; Ireland = the country; Western = Spring, rebirth, go, ecologyBlue: Iran = heaven and spirituality; Western = depression, sadness, “something blue” bridal tradition, conservativePurple: Thailand = mourning; Western = royalty
10-26
![Page 27: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/27.jpg)
White: Japan white carnation = death; Eastern = funerals; Western = brides, angels, good guys, hospitals, doctors, peace
10-27
![Page 28: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/28.jpg)
10-28
Product Warranties
Express warranty is a written guarantee that assures the buyer is getting what he or she paid for or provides a remedy in case of a product failureWarranties can be used as a competitive tool
![Page 29: Chapter 10 Product and Brand Decisions. 10-2 Introduction to Brands and Products Brand and product concepts Local, international, and global brands Product.](https://reader035.fdocuments.us/reader035/viewer/2022062321/56649dc95503460f94abff6b/html5/thumbnails/29.jpg)
10-29
Extend, Adapt, Create: Strategic Alternatives in Global Marketing
Extension—offering product virtually unchanged in markets outside of home countryAdaptation—changing elements of design, function, and packaging according to needs of different country marketsCreation—developing new products for the world market