Branding, Packaging, and Product Features PDF

Branding, packaging and other product features GoPro GoPro GoPro Products and Service Product Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. Service An activity, benefit, or satisfaction offered for sale...

Branding, packaging and other product features GoPro GoPro GoPro Products and Service Product Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. Service An activity, benefit, or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything.  Types of Product Consumer product A product bought by final consumers for personal consumption. Convenience product A consumer product that customers usually buy frequently, immediately, and with minimal comparison and buying effort. Shopping product A consumer product that the customer, in the process of selecting and purchasing, usually compares on such attributes as suitability, quality, price, and style.  Specialty product A consumer product with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort. unsought product Types of Product A consumer product that the consumer either does not know about or knows about but does not normally consider buying. Industrial product A product bought by individuals and organizations for further processing or for use in conducting a business. Levels of Product Product and Service Decisions Individual Product Decision Product quality: The characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs Product Features: A product can be offered with varying features. A stripped-down model, one without any extras, is the starting point. The company can then create higher level models by adding more features. Features are a competitive tool for differentiating the company’s product from competitors’ products. Being the first producer to introduce a valued new feature is one of the most effective ways to compete. Product Style and Design : Design is a larger concept than style. Style simply describes the appearance of a product. Styles can be eye catching or yawn producing. A sensational style may grab attention and produce pleasing aesthetics, but it does not necessarily make the product perform better. Unlike style, design is more than skin deep—it goes to the very heart of a product. Good design contributes to a product’s usefulness as well as to its looks.  Product and Service Decisions Individual Product Decision Brand: A name, term, sign, symbol, or design, or a combination of these, that identifies the products or services of one seller or group of sellers and differentiates them from those of competitors Packaging: The activities of designing and producing the container or wrapper for a product. Labeling and Logos: Labels and logos range from simple tags attached to products to complex graphics that are part of the packaging. They perform several functions. At the very least, the label identifies the product or brand, such as the name Sunkist stamped on oranges. The label might also describe several things about the product—who made it, where it was made, when it was made, its contents, how it is to be used, and how to use it safely. Finally, the label might help to promote the brand and engage customers Labelling and Logos Broadened Concept of Product In addition to tangible products and services, marketers have broadened the concept of a product to include other market offerings: organizations, persons, places, and ideas. Organizations often carry out activities to “sell” the organization itself. Organization marketing consists of activities undertaken to create, maintain, or change the attitudes and behavior of target consumers toward an organization. Both profit and not-for-profit organizations practice organization marketing People can also be thought of as products. Person marketing consists of activities undertaken to create, maintain, or change attitudes or behavior towards particular people.  Place marketing involves activities undertaken to create, maintain, or change attitudes or behavior toward particular places. Cities, states, regions, and even entire nations compete to attract tourists, new residents, conventions, and company offices and factories. Broadened Social Idea can also be marketed. In one sense, Concept of Product all marketing is the marketing of an idea, whether it is the general idea of brushing your teeth or the specific idea that Crest toothpastes create “healthy, beautiful smiles for life.” How to build a brand/ Major branding strategies  Brand Positioning Marketers can position brands at any of three levels Product attributes are at the lowest level as they can be copied Benefits make positioning better Strongest brands go beyond attribute or benefit positioning. They are positioned on strong beliefs and values  Brand Name Selection Desirable qualities for a brand name include the following: (1) It should suggest something about the product’s benefits and qualities: Beautyrest, Slimfast, Snapchat, Pinterest. (2) It should be easy to pronounce, recognize, and remember: iPad, Tide, Jelly Belly, Twitter, JetBlue. (3) The brand name should be distinctive: Panera, Swiffer, Zappos, Nest. (4) It should be extendable—Amazon.com began as an online bookseller but chose a name that would allow expansion into other categories. (5) The name should translate easily into foreign languages. The official name of Microsoft’s Bing search engine in China is bi ying, which literally means “very certain to respond” in Chinese. (6) It should be capable of registration and legal protection. A brand name cannot be registered if it infringes on existing brand names  Brand Sponsorship A manufacturer has four sponsorship options. i. The product may be launched as a national brand (or manufacturer’s brand), as when Samsung and Kellogg sell their output under their own brand names (the Samsung Galaxy tablet or Kellogg’s Frosted Flakes). ii. The manufacturer may sell to resellers who give the product a private brand (also called a store brand). iii. Manufacturers create their own brand names, others market licensed brands. iv. Finally, two companies can join forces and co-brand a product.  Licensing: Companies can quickly establish their brand by licensing established names or symbols from other manufacturers, celebrities, or popular media for a fee, bypassing the lengthy and costly process of creating their own brand identities.  Brand Development Line extension: Extending an existing brand name to new forms, colors, sizes, ingredients, or flavors of an existing product category. Brand extension: Extending an existing brand name to new product categories. Multibrands: Companies often market many different brands in a given product category. New Brands: A company might believe that the power of its existing brand name is waning, so a new brand name is needed. Or it may create a new brand name when it enters a new product category for which none of its current brand names is appropriate.