marketing product. overview l definition of product vs. service l the importance of branding and...
TRANSCRIPT
![Page 1: Marketing Product. Overview l Definition of product vs. service l The importance of branding and packaging l Consumer and industrial products l Product](https://reader036.vdocuments.net/reader036/viewer/2022070307/551a39d0550346545e8b4d4c/html5/thumbnails/1.jpg)
MarketingMarketing
ProductProduct
![Page 2: Marketing Product. Overview l Definition of product vs. service l The importance of branding and packaging l Consumer and industrial products l Product](https://reader036.vdocuments.net/reader036/viewer/2022070307/551a39d0550346545e8b4d4c/html5/thumbnails/2.jpg)
OverviewOverview
Definition of product vs. service The importance of branding and packaging Consumer and industrial products Product mix and product line Product differentiation The stages of the product life cycle
![Page 3: Marketing Product. Overview l Definition of product vs. service l The importance of branding and packaging l Consumer and industrial products l Product](https://reader036.vdocuments.net/reader036/viewer/2022070307/551a39d0550346545e8b4d4c/html5/thumbnails/3.jpg)
Marketing Mix: The “Four (5) P’s”
(Distribution)(Distribution)
roductroductroductroduct ricingricingricingricing
romotionromotionromotionromotionlacelacelacelace
ackaging
![Page 4: Marketing Product. Overview l Definition of product vs. service l The importance of branding and packaging l Consumer and industrial products l Product](https://reader036.vdocuments.net/reader036/viewer/2022070307/551a39d0550346545e8b4d4c/html5/thumbnails/4.jpg)
What’s a Product? anything that can be offered to a market for
attention, acquisition, use, or consumption and that might satisfy a want or need.
tangible or intangible Good Service Event Idea (social marketing; recycling; public service
ads) Place (tourism) Person (politicians, entertainers, athletes, lawyers) Organization (profit & non-profit)
![Page 5: Marketing Product. Overview l Definition of product vs. service l The importance of branding and packaging l Consumer and industrial products l Product](https://reader036.vdocuments.net/reader036/viewer/2022070307/551a39d0550346545e8b4d4c/html5/thumbnails/5.jpg)
What’s a Service? any activity/benefit that one party can offer to
another that is essentially intangible and does not result in the ownership of anything.
• Renting a hotel room• depositing $ in a bank• traveling on an airplane• getting a haircut• having car repaired
• watching a professional sport• seeing a movie• having clothes cleaned at a dry cleaner• getting advice from a lawyer
![Page 6: Marketing Product. Overview l Definition of product vs. service l The importance of branding and packaging l Consumer and industrial products l Product](https://reader036.vdocuments.net/reader036/viewer/2022070307/551a39d0550346545e8b4d4c/html5/thumbnails/6.jpg)
Classifying Goods & ServicesClassifying Goods & Services
ConvenienceGoods
ShoppingGoods
Specialty Goods
ExpenseItems
Capital Items
Consumer Markets Industrial Marketsbased on WHO will use them; HOW will be used
![Page 7: Marketing Product. Overview l Definition of product vs. service l The importance of branding and packaging l Consumer and industrial products l Product](https://reader036.vdocuments.net/reader036/viewer/2022070307/551a39d0550346545e8b4d4c/html5/thumbnails/7.jpg)
Consumer Products
Based on HOW/WHERE consumers buy them
![Page 8: Marketing Product. Overview l Definition of product vs. service l The importance of branding and packaging l Consumer and industrial products l Product](https://reader036.vdocuments.net/reader036/viewer/2022070307/551a39d0550346545e8b4d4c/html5/thumbnails/8.jpg)
Industrial Products Consumed by businesses Expense Items
– Consumed within 1 year
– Include raw materials, parts, supplies
– At SMC?
• Capital Items: – Permanent (expensive)
– Buildings, fixed equipment
– At SMC?
Classified according to COST and USE
![Page 9: Marketing Product. Overview l Definition of product vs. service l The importance of branding and packaging l Consumer and industrial products l Product](https://reader036.vdocuments.net/reader036/viewer/2022070307/551a39d0550346545e8b4d4c/html5/thumbnails/9.jpg)
Strategic DecisionsWhat features are part of a product and differentiate it from another?
![Page 10: Marketing Product. Overview l Definition of product vs. service l The importance of branding and packaging l Consumer and industrial products l Product](https://reader036.vdocuments.net/reader036/viewer/2022070307/551a39d0550346545e8b4d4c/html5/thumbnails/10.jpg)
Packaging
Functional benefits– Convenience– Protection– Storage
Promotional/Communication benefits– Directions– Legal requirements or product disclosure
Perceptual Benefits– Color– Connote status, economy, quality
![Page 11: Marketing Product. Overview l Definition of product vs. service l The importance of branding and packaging l Consumer and industrial products l Product](https://reader036.vdocuments.net/reader036/viewer/2022070307/551a39d0550346545e8b4d4c/html5/thumbnails/11.jpg)
Product Line & Product Mix
Product MixThe total group of products or product lines offered by a company
Product LineA group of closely related product items
![Page 12: Marketing Product. Overview l Definition of product vs. service l The importance of branding and packaging l Consumer and industrial products l Product](https://reader036.vdocuments.net/reader036/viewer/2022070307/551a39d0550346545e8b4d4c/html5/thumbnails/12.jpg)
Product Line & Product Mix
![Page 13: Marketing Product. Overview l Definition of product vs. service l The importance of branding and packaging l Consumer and industrial products l Product](https://reader036.vdocuments.net/reader036/viewer/2022070307/551a39d0550346545e8b4d4c/html5/thumbnails/13.jpg)
Product Line & Product Mix
Prod
uct lin
e (dep
th)
Product Mix (width)
![Page 14: Marketing Product. Overview l Definition of product vs. service l The importance of branding and packaging l Consumer and industrial products l Product](https://reader036.vdocuments.net/reader036/viewer/2022070307/551a39d0550346545e8b4d4c/html5/thumbnails/14.jpg)
Product Differentiation by BrandingProduct Differentiation by Branding
• Brand• Brand Name• Trademark
![Page 15: Marketing Product. Overview l Definition of product vs. service l The importance of branding and packaging l Consumer and industrial products l Product](https://reader036.vdocuments.net/reader036/viewer/2022070307/551a39d0550346545e8b4d4c/html5/thumbnails/15.jpg)
Trade Characters
Kellogg’s
Quaker Oats
Mr. Clean (Procter & Gamble)
Geico
Aflac
![Page 16: Marketing Product. Overview l Definition of product vs. service l The importance of branding and packaging l Consumer and industrial products l Product](https://reader036.vdocuments.net/reader036/viewer/2022070307/551a39d0550346545e8b4d4c/html5/thumbnails/16.jpg)
Types of Brands
National brands/Manufacturer’s Brand– Producers are identified with their products
Licensed brands– The manufacturer sells the license for the brand
name or symbol to be put on accessories. Private brands
– Retailers or wholesalers selling products under their own private (= non-manufacturer) label
![Page 17: Marketing Product. Overview l Definition of product vs. service l The importance of branding and packaging l Consumer and industrial products l Product](https://reader036.vdocuments.net/reader036/viewer/2022070307/551a39d0550346545e8b4d4c/html5/thumbnails/17.jpg)
Product DifferentiationProduct Differentiation
Definition: “the creation of a product or product image that differs enough from existing products to attract customers”
Standardized/homogeneous products Example—fast food: juicier hamburgers, crispier fries
![Page 18: Marketing Product. Overview l Definition of product vs. service l The importance of branding and packaging l Consumer and industrial products l Product](https://reader036.vdocuments.net/reader036/viewer/2022070307/551a39d0550346545e8b4d4c/html5/thumbnails/18.jpg)
iPhone
Hydrogen car
iPod
Analog cameras
Music CDs
Product Life Cycle
![Page 19: Marketing Product. Overview l Definition of product vs. service l The importance of branding and packaging l Consumer and industrial products l Product](https://reader036.vdocuments.net/reader036/viewer/2022070307/551a39d0550346545e8b4d4c/html5/thumbnails/19.jpg)
Product Life CycleEffect on sales and profits
![Page 20: Marketing Product. Overview l Definition of product vs. service l The importance of branding and packaging l Consumer and industrial products l Product](https://reader036.vdocuments.net/reader036/viewer/2022070307/551a39d0550346545e8b4d4c/html5/thumbnails/20.jpg)
Summary
Products vs. Services Classification Strategic Decisions Product Mix vs. Product Line Branding Packaging The Product Life Cycle