Regionalization Lessons from pharmacos that have 'tasted the crab'
Marketing Mix ProductPromotionPricePlace PRODUCT A product can be either: A good This is tangible...
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Transcript of Marketing Mix ProductPromotionPricePlace PRODUCT A product can be either: A good This is tangible...
PRODUCT
A product can be either:
• A goodThis is tangible (Can be seen, felt, touched, tasted)
PRODUCTA product can be either:
• A service
PRODUCTA product can be either:
• An event
PRODUCT
A product can be either:
• An idea
PRODUCT
A product can be either:
• A person
PRODUCT
A product can be either:
• A place
TYPES OF PRODUCTS
Products can fall into the following categories:
(1)Convenience products
These are frequently bought and require minimum thought and consideration.
TYPES OF PRODUCTS
(2) Shopping products
These are bought only after a great deal of consideration and comparison of their price and quality.
TYPES OF PRODUCTS
(3) Specialty products
These are products with unique characteristics or brand identificationfor which are consumers are willing to make a special effort.
(4) Unsought products
These products do not sell themselves.The marketer has to make the public aware of them through advertising.Consumers are not interested in buying them because they do not see them asessential
Feature
Features
Activity:
You have one minute to:List the features of a digital camera
Features
Features
Possible answers:
Number of megapixels Size of memory Optical Zoom Type of lens LCD Focus Self-timer
What is a Brand?
This is a name, slogan, sign, symbol or logo that is used to distinguish between products of different companies
Branding
A recognized brand might be:
• The use of the ‘Mc’ name by Mc Donald’s in their products (Egg Mc Muffin, Chicken Mc Nugget)
• The Nike ‘swoosh’ logo
• The three stripes design on Adidas sports equipment
• The slogan ‘Finger Licking Good’
• The colour green in bmobile
Why is Branding important?
It allows manufacturers to advertise the characteristics and qualities of their products
It helps to build brand loyalty
It allows customers to easily identify brands
Some brand names are so well known that they are used to refer to the type of product.
Brand loyal customers do not simply go the store for:
Cheese Soft Drink
Coffee
Homework:
Find out theTOP 10 most valuable
brands worldwide
1. Coke2. Microsoft3. IBM4. GE 5. Intel6. Nokia7. Toyota8. Disney9. Mc Donald’s 10. Benz
The Coca-Cola Company’s image was the most valuable 8 yrs in a row
Packaging is the outer wrapping or container for goods.
Packaging
Reasons for packaging
It protects the product from damage and keeps it fresh
It enhances the appearance of the product
Reasons for packaging It preserves the life of the product
It makes it convenient for customers to handle
It gives information such as ingredients, expiry dates, correct
usage and potential hazards
Convenience
Safety
Appearance
This refers to the different stages that a product goes through during its lifetime
Product Life Cycle
PRODUCT LIFE CYCLE (PLC)
Introduction
Once a product is developed, it is launched into the market. Advertising is high in this stage to make consumers aware of the product. Sales are low in the beginning of the lifecycle.
Growth
If the product is successful, sales and profits will rise. This is the stage where most customers are persuaded to purchase the product.
Maturity
At this stage, sales begin to slow down and even decline. Companies try to improve the product or find a new one to replace it.
Decline
In this stage, it is clear that the product has lost its appeal. Companies withdraw their products if they do not want to make losses.
Examples
Flat Screen TV
I Pods
VHS
Mp4 Players
Film Cameras
Digital Cameras
Wi-Fi phones/laptops
Typewriters
Hand-written letters
Personal computers
Portable DVD players
