powerpoint presentation by sixit bhatta products, services and branding strategy session-5
TRANSCRIPT
PowerPoint Presentation by Sixit Bhatta
PowerPoint Presentation by Sixit Bhatta
Products, Services and Branding StrategyProducts, Services and Branding Strategy
Session-5
ProductProduct
Products, Services, and Experiences– Market offerings may consist of a
combination of goods and services– Experiences are used to differentiate
offeringsLevels of Product and Services
– Core benefit, Basic, Expected and augmented and Potential product
Product and Service Classifications– Consumer products and industrial products
Product LevelsProduct Levels
1. CORE PRODUCT
2. BASIC PRODUCT
3. EXPECTED PRODUCT
4. AUGMENTED PRODUCT
5. POTENTIAL PRODUCT
PRODUCT LEVELS
ExampleExample
Product or service or brand
Core Product Actual Product Augmented Product
Ford Ikon Freedom to travel
A motor car ?
Budget/No Frills Airline e.g. Jetlite, Go Air
? An airline journey Food bought during your flight
Nike Association with the best in sports.
? Nike online allows you to personalise your trainers
Example: HotelExample: Hotel
Product ClassificationProduct Classification
Consumer products:– Durability & Tangibility
•Non Durable: eg. Soap, beer•Durable: TV, Refrigerator.•Services: Intangible, eg: Air Travel,
Hotel, Telecom
–Consumer-Goods Classification•Convenience •Shopping•Specialty•Unsought
Industrial Goods ClassificationIndustrial Goods Classification
– Materials and parts :• Raw Materials [ farm & natural] and
Manufactured materials and parts [ component material and component parts
– Capital items• Installation and Equipments
– Supplies and services• Operating Supplies and Maintenance and
repair items• Maintenance and repair service &
business advisory service
Product DifferentiationProduct Differentiation
Form- Shape Size Features Customization Performance Conformance Durability Reliability Reparability
Product Line AnalysisProduct Line Analysis
Product Mix Product Line Product Width Consistency
Product Line AnalysisProduct Line Analysis
Two Aspects– Sales and Profit– Market Profile
Product Line LengthProduct Line Length
Profits can increase either if product line is shorten or added. It can be lengthens in two ways :1. Line Stretching : Down market stretch, Up Market stretch, Two way stretch2. Line Filling :by adding more items on product line
Product Line ModernizationProduct Line Modernization
Part Basis/OverallModernization is carried
rapidly, eg micro-processor companies
Too early might damage sale of current line and too late competition might take advantage.
Vox Wagan Beatle
Featuring and PruningFeaturing and Pruning
Line Featuring – Establishing Image driver for the
line[ Surya classic for Surya brand]– Issue to promote weak items or safe
guard strong ones
Pruning– Weak items– Production demands
BrandingBranding
Coke, Toyota, Surya: What comes to your mind?AttributesBenefitsValuesCulturePersonalityUser
Marketing is also converting simple products and Services into brands.
Why BrandingWhy Branding
Brands with strong equity have many competitive advantages:– High consumer awareness will reduce
marketing cost – Strong brand loyalty– Helps when introducing new products– Less susceptible to price competition– More Trade Leverage in bargaining with
distributors and retailers [Bajaj Bikes in Nepal]
Brand Name DecisionBrand Name Decision
Product benefits Product Qualities Easy to pronounce recognize and
remember Distinctive Should not carry poor meanings in other
countries and languages Blanket Family Names
Brand Strategy DecisionBrand Strategy Decision
Line Extension: Minor Changes to Existing Products
Brand Extension: Successful brands help introduce new products
Multibrands: Multiple brands into a product category
New brands: New product brandCo brands
Labeling and PackagingLabeling and Packaging
Identifies the product Describes the product Promotes the product Legal requirement
PackagingPackaging
A Marketing Tool. Garnishing the product. Important Marketing Tool
