Setting Product and Brand Strategy

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Setting Product and Brand Strategy

• Chapter 11
• Mkt. 490

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• __________ anything that can be offered to a
  market to satisfy a want or need.
• Products include physical goods, services,
  experiences, events, persons, places, properties,
  __________, __________, and _______.

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Customer Value Hierarchy
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Customer Value Hierarchy

• Core Benefit most fundamental level of a
  customer value hierarchy.
• e.g., hotel _______ _________ bicycle
  _______ ____________
• Companies should see themselves as providers of
  product ____________, ___________________________.
  

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• 2. Basic Product hotel room ___________________
  ____, etc.
• 3. Expected Product a set of attributes and
  conditions that buyers normally expect when they
  buy the product.
• e.g., Bicycle Shop __________,
  ________________, __________ _____________________
  _____.

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• 4. Augmented product attributes conditions
  that exceed customer expectations.
• e.g., Hotel ____________, ______________________
  ____ ___________________________

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• Augmentation leads the company to look at the
  users total ____________ _________ the way in
  which the user performs the tasks of _________,
  __________, _____________, and __________ of the
  product.

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• 5. Potential Product this encompasses all of the
  possible _______________ and _________________
  the product might undergo in the ____________.
• Here a company searches for entirely new ways to
  satisfy its customers distinguish its offering.
  e.g., Marriotts TownePlace Suites (_____
  __________________________)

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Product Classifications

• ____________ goods tangible goods that are
  normally consumers in one or a few uses.
• e.g., ________________________
• 2. ________ tangible goods that normally survive
  many uses.
• e.g., _____________________, etc.

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Consumer-goods Classification

• Convenience bought __________, immediately,
  with ___________ deliberation. e.g., soda,
  chewing gum, etc.
• Shopping compare ___________ and/or
  ________________

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• 3. Specialty unique characteristics or
  attributes, _________ ___________. e.g.,
  _____________________
• 4. Unsought goods that consumers do not know
  about or do not normally think of buying. e.g.,
  __________________________ _______________________
  ____.

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Product Mix (Product Assortment)

• Set of all ___________ ___________ that a
  particular company offers for sale.
• Product ___________ a group of closely related
  product _________________
• Width the ________ of different product
  _____________ offered by a company.
• Depth how many _________________ of each product.

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• Consistency how closely related the various
  product lines are in _______________________
  ________________________, etc.
• ______ a name, term, sign, symbol, or design,
  intended to identify the goods or service of a
  seller.

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Level of Brand Meaning

• ___________ A brand brings to mind certain
  attributes. e.g., ________________________
• ___________ Attributes must be translated into
  _____________ ________________ benefits. e.g.,
  ______________________

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• 3. __________ Brand says something about the
  producers value. e.g., Mercedes stands for high
  _________, ______, and ________.
• 4. _______ The brand may represent a certain
  culture. e.g., Mercedes ________________________
  _
• 5. ________ Brand can project a certain
  personality. e.g., _________.

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• 5. ___________ brand suggests the kind of
  customer who buys or uses the product. e.g.,
  _____________
• The most enduring meaning of a brand are
• ________, _________, ________
• Brand Loyalty you _______________ accept a
  substitute.

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• Brand Equity the value of a brands overall
  _______________ in the market.
• It is closely related to the _________ ________
  who are devoted to the brand.

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• Customer Equity
• the fundamental _____ ___________________
  ____________________.

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Overview of Branding Decisions
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Branding Decisions
Brand-Sponsor Decisions
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Brand-Sponsor Decision

• Manufacturer Brand sells under its own name
  __________________
• Distributor (Private) Brand sells under a
  distributors name Sears _____________
  appliances.
• _______ Brand a well-known brand that sellers
  pay a fee to use ______

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Brand-Name Decision
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Brand-Name Decisions

• Individual names The firm does not tie its
  reputation to the products if the product
  __________________ ____________, the companys
  name or image is not hurt. e.g., General Mills
  (______________________)

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• 2. Blanket family name firm spends less on
  development because there is no need for ____
  research or heavy ad spending to create
  brand-name ___________. e.g.,
  _____________________.

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• 3. _____________ ______________ names for all
  products When a firm offers quite different
  products and wants to avoid confusion between it
  different products. e.g., ____________________

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• 4. Company ______________ name with
  _________________ product names The company name
  ___________________ while the individual name
  ______________ each product.

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Desirable qualities for a brand name

• It should suggest something about the products
  benefits. e.g., __________________________
• It should suggest product quality. e.g.,
  __________________
• It should be easy to pronounce, recognize
  remember. e.g., ____

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• 4. It should be distinctive e.g.,
  _____________________
• 5. It should not carry meanings in other
  countries and languages e.g., __________
  __________

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Brand-Strategy Decision
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Brand-Strategy Decision

• Line Extensions using an ______________ brand
  name extending to new sizes or flavors in the
  ____________ _________ ________________.

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• Line Extensions may lead to the brand name ______
  its _______ meaning. e.g., Coke!
  ___________________________
• L.E. can _____________ from the other product in
  the line.
• L.E. results in a ___________ ___________ for the
  new product.

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• 2. Brand extension when brand names are extended
  to _________ categories.

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• 3. Multibrands New brand names introduced in the
  ______________ category.

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• 4. Co-branding (_______________) two or more
  well-known brands are combined in an offer.

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Brand-Repositioning Decision

• Repositioning

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Packaging

• The package can include up to three levels.
• Primary package ______ of Pepsi
• Secondary package a ________ ____________________
  _ of Pepsi
• Shipping package a _________ ____________________
  _ of Pepsi