MARKET1

Physical Branding – use of a name, term, symbol, or design – or a combination of these – to identify a product Brand name – narrower meaning Elements of Product Planning for Goods and Services The Product Area Involves Many Strategy Decisions BRANDING IS A STRATEGY DECISION Trademarks and Service Mark BRANDS MEET NEEDS Branding is a strategy decision Need-satisfying offering of a firm What is a Product? Excellent service Right features Useful instructions Packages Warranties Brands What do customers want? CONDITIONS FAVORABLE TO BRANDING Ability to satisfy customer's needs Product quality 2. BRAND NONRECOGNITON 3. BRAND RECOGNITION 4. BRAND PREFERENCE 5. BRAND INSISTENCE RIGHT BRAND NAME CAN HELP Achieving brand familiarity is not easy Protecting brand names and trademarks Differences in Goods and Services Combination Service Types of Products Difference between goods and services whole Product lines must be developed too B2B (Business- to-Business) PRODUCT IDEA PRODUCT CLASSES BRANDING PACKAGING AND WARRANTY What kind of brand to use? Individual Brand Generic Products Who should do the branding? Promoting, protecting and enhancing the product The Strategic Importance of Packaging Family Brand Licensed Brand Manufacturer Brand Dealer Brands Convenience Communication Silent Salesman What is packaging? Packaging enhances the product Packaging sends a message Packaging lowers distribution cost Universal Product Code Size or Volume Variety What does packaging do? What is Socially Responsible Packaging? Packaging hurts the environment Laws reduce confusion Ethical decisions WARRANTY SERVICE GUARANTEES PRODUCT CLASSES one product can be both consumer product and business product Emergency products Impulse products Staple products CONVENIENCE PRODUCTS Heterogeneous shopping products Homogeneous shopping products SHOPPING PRODUCTS SPECIALTY PRODUCTS New unsought products UNSOUGHT PRODUCTS Regularly unsought products classification of consumer products BUSINESS PRODUCTS ARE DIFFERENT B2B products vs B2C products Volume of transactions Exclusive products Products for business purposes only. B2C products can be B2B products Risky B2B transactions are much riskier! The Role of Warranty in Marketing - promotional - protectional 2000 2010 1. BRAND REJECTION Brand Equity RA 8293 Individual Products Product Line Product Assortment 1. Easy to be identified by brand and product 2. Best value for the price 3. Economies of scale 4. Favorable display locations 5. Widespread availability 6. Demand is strong Conscience Cost Republic Act No. 7394 The Consumer Act of the Philippines Chapter 4: Labeling and Fair Packaging Short and Simple Internationally Acceptable Pronounceable Pic to emphasize satisfaction Need-satisfying offering of a firm What is a Product? Right features Packages Warranties What do customers want? Excellent service Kahit anong design nalang dito Difference between goods and services Tangible or intangible Tangible or intangible Location of production Consistency of the product Storage capability Individual Products Product Line Product Assortment DLSU LaSalle Trademarks