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Chapter 8 - Coggle Diagram

- - - - difficult task
        
        careful review of
        
        the product
        
        the benefits
        
        the target market
        
        proposed marketing strategies
        
        becomes part science, part
        art, and a measure of instinct
      - Desirable qualities
        
        be distinctive
        
        be extendable
        
        easy to pronounce, recognise and remember
        
        translate easily into foreign languages
        
        suggest the product’s benefits and qualities
        
        be capable of registration and legal protection
      - the brand name must be protected
    - - 4 options
        
        private brand (a store brand)
        
        market licensed brands
        
        national brand
        (manufacturer’s brand)
        
        co-brand
        
        Advantages
        
        take advantage of the complementary strengths of two brands
        
        allows a company to expand its existing brand
        
        create broader consumer appeal and greater brand equity
        
        Limitations
        
        involve complex legal contracts and licenses
        
        must carefully coordinate the advertising, sales promotion and other marketing efforts.
        
        something damages the reputation of one brand, it can tarnish the co-brand
    - - 3 levels
        
        name with a desirable benefit
        
        product attributes
        
        beliefs and values
      - establish a mission and a vision for the brand
      - Brand promise
        
        simple
        
        honest
        
        clear
        
        deliver a set of
        
        benefits
        
        services
        
        features
        
        experiences
    - - brand extensions
        
        Extending an existing brand name to new product categories
        
        Advantages
        
        give a new product instant recognition and faster acceptance
        
        save the high advertising costs
        
        Risks
        
        confuse the image of the main brand
        
        may not be appropriate to a particular new product
      - multi-brands
        
        Advantages
        
        establish different features that appeal to different customer segments
        
        lock up more reseller shelf space
        
        capture a larger market share
        
        Drawbacks
        
        each brand might obtain only a small market share
        
        may end up spreading its resources
      - line extensions
        
        extending existing brand names to new forms, colours, sizes, ingredients or flavours of an existing product category
      - new brands
        
        a new brand name is needed
        
        when enters a new product category
        
        Limitations
        
        too many brands with too few differences
        
        company spreading its resources
  - - - customers’ engagement with brands
      - customers’ brand experiences
  - - - positive
        
        consumers react less favourably than to an unbranded version
      - negative
        
        consumers react more favourably than to an unbranded version
      - strong brand equity
        
        knowledge
        
        differentiation
        
        esteem
        
        relevance
    - - The total financial value of a brand
- - - - Features
      - Style and design
      - Quality
        
        Quality level
        
        Conformance quality
  - - - function in a similar manner
      - sold to the same customer groups
      - marketed through the same types of outlets
      - fall within given price ranges
    - - Line filling
        
        adding more items within the present range of the line
      - Line stretching
        
        upward
        
        downward and upward
        
        downward
  - - - Width
        
        the number of different product lines the company carries
      - Length
        
        the total number of items a company carries
      - Depth
        
        the number of versions offered of each product in the line
      - Consistency
        
        how closely related the various product lines
- - - - offering additional consumer services and benefit
    - - marketer must define the core, problem-solving benefits, services or experience that consumers seek
    - - develop product and service features, a design, a quality level , a brand name, and packaging
  - - - an activity, benefit, or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything
    - - have always been an important part of marketing
    - - anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need.
  - - - capital items
        
        aid in the buyer's production or operations, including installations and accessory equipment
      - supplies
        
        operating supplies and repair and maintenance items
      - materials and parts
        
        raw materials as well as manufactured materials and parts
      - services
        
        maintenance and repair services and business advisory services
    - - bought by final consumers for personal consumption
        
        shopping products
        
        less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style
        
        specialty products
        
        unique characteristics or brand identifications for which a significant group of buyers is willing to make a special purchase effort
        
        convenience products
        
        usually buy frequently, immediately and unsought products
        
        unsought products
        
        a consumer either does not know about or knows about but does not normally consider buying
    - - person marketing
        
        activities toward particular people
      - place marketing
        
        activities toward particular places
      - organization marketing
        
        activities undertaken to create, maintain, or change the attitudes and behavior of target consumers toward an organization
      - ideas
- - - - cannot be seen, tasted, felt, heard or smelled before they are bought.
        
        make the service tangible and
        send the right signals about quality
        
        evidence management
    - - services cannot be separated from their providers
        
        provider–customer interaction
    - - quality of services depends on
        
        who
        
        when
        
        where
        
        how
    - - services cannot be stored for later sale or use
  - - - links service firm profits with employee and customer satisfaction
        
        Internal service quality
        
        Satisfied and productive service employees
        
        Greater service value
        
        Satisfied and loyal customers
        
        Healthy service profits and growth
    - - develop a differentiated offer, delivery and image.
      - develop a superior physical environment in which the service product is delivered, or designing a superior delivery process
      - differentiating their images through symbols and branding.
    - - identify what target customers expect in regard to service quality
    - - be careful not to take service out of the service