Cohabitation Chapter 5 Conflict and Conflict Resolution Chapter 5.
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Transcript of Chapter 5
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Chapter 5Product Decision
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What is product? Classification of product Level and types of product Product items, lines and mixes Branding Packaging
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PromotionPromotion
Place (Distribution)Place (Distribution)
PricePrice
ProductProduct Product is the “heart” of
Marketing Mix
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Product is anything that can be offered in a market for attention, acquisition, use, or consumption that might satisfy a need or want (Kotler and Gary)
Product is everything, both favorable and unfavorable, that a person receives in an exchange (McDaniel/Lamb/Hair)
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Levels of Product and Services
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UnsoughtProducts
UnsoughtProducts
SpecialtyProductsSpecialtyProducts
ShoppingProducts
ShoppingProducts
ConvenienceProducts
ConvenienceProducts
ConsumerProducts
ConsumerProducts
BusinessProductsBusinessProducts
PRODUCTSPRODUCTS
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ConvenienceProduct
ShoppingProduct
SpecialtyProduct
UnsoughtProduct
A relatively inexpensive item that merits little shopping effort
A product that requires comparison shopping, because it is usually more expensive and found in fewer stores
A particular item for which consumers search extensively and are reluctant to accept substitutes
A product unknown to the potential buyer or a known product that the buyer does not actively seek
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Industrial products are products purchased for further processing or for use in conducting a business
Classified by the purpose for which the product is purchased◦ Materials and parts◦ Capital◦ Raw materials◦ Processed materials◦ Supplies and service
Product and Service Classifications (Business Product)
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Product ItemProduct Item
Product LineProduct Line
Product MixProduct Mix
A specific version of a product that can be designated as a distinct offering among an organization’s products.
A specific version of a product that can be designated as a distinct offering among an organization’s products.
A group of closely-related product items.
A group of closely-related product items.
All products that an organization sells.
All products that an organization sells.
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Product Mix WidthThe number of Product Lines an organization offere.g: Nestle-Drinks, confectionary, Instand noodels
Product Line DepthThe number of Product items in a product linee.g: Nestle, In the Product Line of Junior Foods, there are 11 Products Items+++
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Equivalent QualityEquivalent Quality
Efficient Sales andDistribution
Efficient Sales andDistribution
Standardized Components
Standardized Components
Package UniformityPackage Uniformity
Advertising EconomiesAdvertising Economies
3
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Product Modification
Product Modification
ProductRepositioning
ProductRepositioning
Product LineExtension or Contraction
Product LineExtension or Contraction
Adjustments to Product Items,
Lines, and Mixes
Adjustments to Product Items,
Lines, and Mixes
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Quality ModificationQuality Modification
Functional ModificationFunctional Modification
Style ModificationStyle Modification
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Is the changing consumer’s perception of a brand in relation to competing brand
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Changing Demographics
Changing Demographics Declining SalesDeclining Sales
Changes in Social
Environment
Changes in Social
Environment
Why reposition Why reposition established brands?established brands?
Why reposition Why reposition established brands?established brands?
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Product Line ExtensionADDING more product items to an existing product line
Product Line ContractionDELETING product items in the product line because PL over extension
-Cannibalization-harvested product that not generate much
sales
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● Some products have low sales or cannibalize sales of other items
● Resources are disproportionately allocated to slow-moving products
● Items have become obsolete because of new product entries
Symptoms of Symptoms of Product Line Product Line
OverextensionOverextension
Symptoms of Symptoms of Product Line Product Line
OverextensionOverextension
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Brand Name
Brand Name
BrandMark
BrandMark
Brand EquityBrand Equity
That part of a brand that can be spoken, including letters, words, and numbers.
It’s a name, term, symbol, design or combination thereof that identifies a seller’s products and
differentiate them from competitor
That part of a brand that can be spoken, including letters, words, and numbers.
It’s a name, term, symbol, design or combination thereof that identifies a seller’s products and
differentiate them from competitor
The elements of a brand that cannot be spoken.
The elements of a brand that cannot be spoken.
The value of company and brand names.The value of company and brand names.
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Source of brand nameQuality, Benefits, Animals, Persons, Numbers, Things etc…
Benefits having a Brand Name: Product Identification Repeat sales New product sales
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It refer to the value of company and brand names.
High Awareness + Perceived Quality + Brand Loyalty = Brand EQUITY.
A strong brand equity is a strong asset to the company.
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Easy to pronounce, recognize remember and short
Distinctive and unique Describe the product, use and benefits Has a positive connotation Reinforce the desired product image Legally protectable in home and foreign
markets of interest
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Trade markExclusive right to use a brand or part of a brand (shapes, ornamental color or design,
catchy phrases, abbreviations, sounds etc).
Generic Product name-Company that fail to protect their trademarks face the problem of generic product name-Consumer identifies the product by class or type and cannot be trademarked
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BrandBrand No BrandNo Brand
Manufacturer’s Brand
Manufacturer’s Brand Private BrandPrivate Brand
IndividualBrand
IndividualBrand
Family Brand
Family Brand
Combi-nation
Combi-nation
IndividualBrand
IndividualBrand
Family Brand
Family Brand
Combi-nation
Combi-nation
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Generic Product vs. Branded ProductsGeneric Product-no frills, no brand name and low cost, low
quality
Branded Product-Product with name
Manufacturers’ Brands vs. Private BrandsManufacturers’ Brand-Company/ Manufacturer name
Private Brand-Wholesaler/ retailer's name
Individual Brands vs. Family BrandsIndividual Brand-different brand names for different products
Family Brands-Same brand names for different products
Cobranding-placing 2 or more brand names on a product or its packages
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Generic products – No frills, no brand name, low cost product and easy to identified by it’s product category.
What is the main appeal of generic products??
PRICE
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Manufacturer’s brand – National Brand (brand’s owner)E.g: Kodak, Pensonic, Akira etc.
Private brand – Private label or store brand.E.g GIANT BRAND, FIRST CHOICE, PARKSON etc.
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Individual brand – Using different brand name for different products.
Use only: Products vary greatly in use and performance.E.g: Colgate- Kayu Sugi, Fresh, White, Active Solution etc.
Family Brand – marketing several different products under the same brand.E.g: Sony, Toshiba, NIKE, PADINI etc.
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IngredientBrandinge.g: Intel
IngredientBrandinge.g: Intel
Cooperative Branding
e.g: Air Asia and Citybank
Cooperative Branding
e.g: Air Asia and Citybank
Complementary Branding
e.g: Nescafe and Creamer
Complementary Branding
e.g: Nescafe and Creamer
Types of CobrandingTypes of CobrandingTypes of CobrandingTypes of Cobranding
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“The activities of designing the container or wrapper for a product”
Package:Container/ wrapper
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1. Primary PackageA product’s Immediate container
2. Secondary PackageA container to protect primary package
3. Shipping PackageA container used to store, to ship the product
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Contain and ProtectContain and Protect
Promoting ProductsPromoting Products
Facilitate Storage, Use, and Convenience
Facilitate Storage, Use, and Convenience
Facilitate RecyclingFacilitate Recycling
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Persuasive
Focuses on promotional theme/ effort
Emphasis on attractive color, graphical and text
Consumer information is secondary
Informational
Focus on giving product info such as ingredients, nutritional information, net weight, manufacturer’s address, expire date, storage instruction, suggested price, halal sign, customer info line service, UPC etc.
Helps make proper selections
Lowers cognitive dissonance
Includes use/care
‘Is a printed information appearing on or with the package’
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Universal Product CodeA series of thick and thin vertical lines (bar code), readable by computerized optical scanners, that represent numbers used to track products
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‘A confirmation of the quality or performance of a good or service’
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-Written Guarantee-Simple statement e.g: 100% genuine leather 100% COTTON 100% ORGANIC
Express Express WarrantyWarrantyExpress Express WarrantyWarranty
Implied Implied WarrantyWarrantyImplied Implied WarrantyWarranty Unwritten Guarantee