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