Product and Brand Management

The product in theory and practice

What is a product ?

A product is the item offered for sale. A product can be a service or an item. It can be physical or in virtual.

A product needs a name: a name that people remember and relate to. A product with a name becomes a brand. It helps it stand out from the clutter of products and names.

PRODUCTS

GOODS SEVICES

Tangible products

Intangible products

Types of Product

Features of product

Intangible attributesFeatures of

product

Associated attributes

tangibility

Exchange value Customer

satisfaction

Product Classification

1. Durable products,Durable goodsNondurable goods

Service 2. Consumer products,

Convenience goodsShopping goodsSpecialty goods

3. Business productsMaterials and partsCapitals itemsSuppliers and business

services

Durable Products Consumer Products Business Products

Are Service Different ?

Service

Salt

Dog Food

House

Automobiles

Fast food shop

Product

T.V.

Air Travel

Theatre

Nursing

Teaching

Core Benefit

or service

Installation

Delivery and credit

Warranty

After sales service

Packaging

Bra

nd

nam

e

Featu

re

s

Quality

Tangible Product

Core Product

Augmented Product

Three Level of Product

Branding

A successful Brand is a name, symbol, design or some combination which identifies the “Product” of a particular organization as having a sustainable differential advantage. The process involved in creating a unique name and image for a product in the consumers' mind, mainly through advertising campaigns with a consistent theme. Branding aims to establish a significant and differentiated presence in the market that attracts and retains loyal customers.

Objective of the Brand

- Delivers the message clearly

- Confirms your credibility

- Connects your target prospects

emotionally

- Motivates the buyer

- Concretes User Loyalty

Top ten brand names from 2012 and 2013: