PRODUCT DECISIONS

DEFINITION

Everything, both favorable and unfavorable, that a person receives in an exchange

E.g. Tangible Goods, Service, Idea

TYPE OF PRODUCTS

CONSUMER

BUSINESS

Convenience Products

Shopping Products

Specialty Products

Unsought Products

PRODUCT...

LINE

MIX

ITEM

A specific version of a product that can be designated as a distinct offering among an organization’s products.

A group of closely-related product items.

All products that an organization sells.

Advertising Economies

Package Uniformity

Standardized Components

Efficient Sales and Distribution

Equivalent Quality

TYPES OF MODIFICATIONS

FUNCTIONAL

STYLE

QUALITY

Diversifies risk

Capitalizes on established reputations

WHY REPOSITION?

Declining Sales

Changes in Social Environment

Changing Demographic

BRANDS

BENEFITS

Repeat sales

New product sales

Product identification

Private

Manufacturers

Individuals

Combinations

Individuals

Combinations

Family

Family

Advantages

Advantages

Attract new customers

Enhance dealer’s prestige

Rapid delivery, carry less inventory

Earn higher profits on own brand

Less pressure to mark down price

Ties customer to wholesaler or retailer

Types of Co-branding

Ingredient Branding

Cooperative Branding

Complementary Branding

TRADEMARK

A Trademark is the exclusive right to use a brand.

PACKAGING FUNCTION

Contain and Protect

Promote

Facilitate Storage, Use, and Convenience

Facilitate Recycling

LABELING

Persuasive

Informational

Global Considerations for Packaging

WARRANTY

Global Options for Branding

One Brand Name Everywhere

Adaptations & Modifications

Different Brand Names in Different Markets

Labeling

Climate

Aesthetics

Express

Implied