What is an Item?.

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Spots: Vacation Spots, States, Cities. Occasions: Olympics, Concerts ... Aroma: Fantasy, recollections, trusts, dreams, sentiment, energy, gentility, achievement, life ...
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What is a Product? Anything that can be offered to a business opportunity for consideration, procurement, use, or utilization that may fulfill a need or need. Physical Products: Tide, Ford, Chevy Services: Haircuts, Nails, Travel Planning Persons: Presidents, Stars, Announcers Places: Vacation Spots, States, Cities Events: Olympics, Concerts Organizations: Red Cross, Heart Association. Thought: Healthy Food, Exercise

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A Product in Three Levels: Actual Product Augmented Product Core Product Scott Smith

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The Core Product Core Product: What is the purchaser truly purchasing? .... Center advantages, Problem Solving administrations. Cases: Lipstick....... Excellence, Hope, not lip shading Drill Bit ...... A completed venture, 1/4" Hole, however not a bit

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The Actual Product Attributes: Quality Level: Lexus.... Highlights: Sunroof, Walnut Trim,... Styling: Sleek, Sporty Brand Name: Lexus Packaging: Style and Grace Scott Smith

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Augmented Product Consists of Additional Consumer Services and Benefits....Augmented advantages may get not out of the ordinary advantages Camcorder : Complete answer for picture-taking issues. Guarantee on parts and workmanship, Instruction on the most proficient method to utilize camcorder, Toll free number for inquiries and issues Haircut: Doctor\'s Exam : couple of substantial components Park Lane Hotel, Hong Kong : Candy on lodging pad, bushel of natural product, manager escorts you to room, Pillbox cap white garbs, messaging administration (printed and voice), toiletries. Fragrance : Fantasy, recollections, trusts, dreams, sentiment, energy, femininity, achievement, way of life, self-expression, selectiveness

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Durable Goods: Products utilized over an expanded timeframe: Refrigerators, Autos, Furniture NonDurable Goods Consumed in one or a couple utilizes: Soap, Salt, sustenance items Services: Activities, advantages or fulfillments available to be purchased: Haircuts, repairs Consumer Goods and administrations buyers purchase as often as possible, quickly, with at least examination or purchasing exertion: Convenience Goods Shopping Goods Specialty Goods Unsought Goods Product Classifications

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Consumer Goods Convenience Goods Staple Goods: Heinz Ketchup, Crest Impulse Goods: Twinkies, Candy bars Emergency Goods: Umbrella, boots Shopping merchandise: Goods that are analyzed taking into account reasonableness, quality, value, style. Furniture, Clothing, Cars, Major Appliances Specialty Goods: Consumer merchandise with one of a kind qualities or brand distinguishing proof for which a critical gathering of purchasers will endeavor: Jaguar, Lexus, Rolex Unsought products: Consumer merchandise the buyer does not think about or does not regularly consider purchasing: Life Insurance, reference books

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How Do You Best Obtain a Sustainable Competitive Advantage? Notoriety for Quality Customer Service/Product Support Name Recognition/High Profile

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Achieving a Sustainable Competitive Advantage Achieve separation in the item conveyance traits: Price, Quality, Esthetics, Functionality, Availability, Consumer Awareness, Visibility, Service Achieve separation on the key purchasing characteristics: 1, 2, or 3 properties might be basic... Others are negligible Laptop: Battery Life, Physical Profile, Power Achieve expansiveness of fascination and profundity of inclination Achieve Capability Gap Business Systems Gap Positioning Gaps: Reputation, Consumer Awareness, Capability Regulatory/Legal Gap Organizational/Managerial Gap

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What is Brand Equity? Seen Quality Name Brand Awareness Associations Brand Other Loyalty Proprietary Brand Assets Brand Equity Provides Value to Customer Provides Value to Firm * Interpretation of Info. * Efficient/Effective Mkt. * Confidence in Decision * Brand Loyalty * Use Satisfaction * Brand Extensions * Trade Leverage * Competitive Advantage

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Branding Definitions A Brand is: name, term, sign, image, configuration, or blend of these proposed to distinguish the great or benefit, and separate them from those of contenders Brand Name: The vocalized part of the brand... Tide, Avon, Chevrolet, Disneyland, AMEX Brand mark : The image, plan, shading, letters: Pillsbury doughboy, MGM Lion, K on K odak box Trademark: The part of the brand given legitimate security to brand name or brand mark Copyright: Legal right to duplicate, distribute and offer the matter and type of an abstract musical or aesthetic work.

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Branding Decisions: Family Brands Individual Brand Names P&G (Tide, Crest, Folger\'s Pampers) General Mills (Bisquick, Gold Medal, Betty Crocker, Nature Valley, Yoplait) Blanket Family Name for all items Heinz and General Electric Separate family names for all items Sears (Kenmore, Craftsman, Homart) Company exchange name joined with individual item names Kellogg\'s (Corn Flakes, Rice Krispies, Raisin Bran)

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Brand Decisions Brand Extension: Use effective brand name to dispatch new or adjusted items: Ivory: dishwashing cleanser, hand cleanser, cleanser Fruit of the Loom: Socks, design clothing, ladies\' clothing Honda: Lawnmowers Scott Paper Co.: ScotTowels, ScotTissues, Scotkins, BabyScott diapers... extreme rivalry from Charmin, Bounty, Kleenex, Pampers Multibrand: Multiple brands in the same item classification: P&G Cheer versus Tide GM: Capture brand switchers utilizing numerous brands Brand Repositioning: Change both the item and picture: Ivory Soap: "Infant Soap" to "All Natural Soap" Marlboro: ladies\' cigarette to man\'s cigarette Velveeta: "Cooking Cheese to "Great tasting, characteristic and nutritious" Brand Names: (1) Suggest qualities, benefits: Beautyrest, Craftsman, Sunkist, Spic and Span, Mr.. Clean, (2) Easy to declare, perceive and recollect: Tide, Aim (3) Distinctive brand name: Taurus, Kodak, Exxon, IBM, Xerox (4) Translate effortlessly into outside dialects: (5) Capable of enrollment and legitimate security (Miller Lite rejected )

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Individual Product Decisions Product Attribute Decisions: Product Quality: At Ford, Quality is Job #1 Product Features: Strip down versus full included. What highlights enhance the item? Item Design Black and Decker cordless instruments, Steelcase furniture Bose sound gear Herman Miller furniture

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Product Line Decisions Product Line Length : (Full Vs. Inadequate line) Expanded by Product Line Stretch and Filling Stretch: Upward, Downward, Two-way Examples: Marriott: Marquis, Courtyard, Fairfield Inn, Residence Inn Product Line Fill: Sony Walkmans: Solar Powered Waterproof Ultralight Tape, CD, MD, MP3 New Products High Upward Present Products Price: New Products Downward Low High Quality

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Product Line Decisions Product Line Breadth, Length, Depth,Consistency Breadth: Number of various product offerings: Avon: makeup, adornments, styles, family unit things Length: absolute number of things the organization conveys (a wide range of brands: Tide, Joy, Dash, Gain) Depth: number of adaptations offered of every item in the line Crest: numerous details and sizes Consistency: Closeness of end use, creation prerequisites, dissemination channels

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Product Mix Breadth and Length Product Mix Breadth Example: Product Gamble: Length is 42

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Advertising Hierarchy of Effects Model Awareness - Interest - Desire - Action Unaware Purchase - Loyalty

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Product - Market Strategies An Overview Existing Product New Product Existing Market Product Development New Market Diversification Segmentation

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Elapsed Time From Idea to Introduction Product Idea Test Market Launch Time BirdsEye Froz. 1908 1923 15 Yrs. Boycott Roll-On 1948 1954 6 Yrs. Peak 1945 1955 1956 10 Yrs. Gerber B.Food 1927 1928 1 Yr. Gloss Creme 1950 .. 1958 8 Yrs. Slopes Bros.Inst 1934 1956 22 Yrs. Saying FreezeDC 1954 1964 10 Yrs. Stripe T.P. 1952 1957 1958 6 Yrs. Minute Rice 1931 1949 18 Yrs.

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