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PRODUCT.

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by

Gabriel Flores

on 25 October 2015

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Transcript of PRODUCT.

PRODUCT.
Difference in goods and services
Branding
-means the use of name, term, symbol, or design or a combination of these to identify a product
What is a product?
-need-satisfying offering of a firm
What do customers want?
-Excellent service
-Right features
-Useful instructions
-Packaging
-Warranties
-Branding

Goods
-Tangible
-You can own it
-are typically mass-produced in a factory

Services
-Intangible
-You can't keep it
-Produced in person
-Inconsistent
Product Quality
-ability to satisfy a customer's need
Trademarks
-words, symbols, or marks that are legally registered for use by a single company.
Conditioning favorable to branding
1. Easy to be identified by brand and product
2. Best value for the price
3. Favorable display locations
4. Widespread availability
5. Demand is strong

Achieving brand familiarity disadvantages
1. Brand rejection
- means that potential customers won’t buy a brand unless its image is changed- or if the customers have no choice.
2. Brand Recognition
3. Brand Nonrecognition

4. Brand Preference
-customers usually choose the brand over other brands.

5. Brand Insistence
-customers insist on a firm’s branded product and are willing to search for it.
Packaging
- involves promoting, protecting, and enhancing the product.
- Can enhance the product
- Sends a message
- Can lower distribution costs
- Greener Packaging creates value for buyers and sellers

Objectives
1. Understand what "Product" really means

2. Distinguish the differences between "goods" and "services"

3. Understand what branding & packaging is

4. Expand knowledge about products
Warranty
-What the seller promises about the product
*A marketing manager should decide whether to offer a specific warranty, and if so, what the warranty will cover and how it will be communicated to target customers.
Full transcript