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Chapter 11: Product and Branding Concepts - Coggle Diagram
Chapter 11: Product and Branding Concepts
Goods vs Services
Goods
Goods are tangible products that customers can see, hear, smell, taste, and/or touch
Services
Intangible products
Organizing Brands and Products
Brand manager
The marketer responsible for a
single brand or product
Category management
A product management system in which a manager oversees a number of product lines and brands within a single category
Types of Consumer Products
Convenience products
Goods and services consumers want to
purchase frequently, immediately, and with minimal effort
Shopping products
Product that are more expensive than convenience items and ones where the shopper lacks complete information
prior to the buying process
Specialty products
higher-end products offering unique characteristics
that compel buyers to purchase particular brands
Types of Business Products
Accessory equipment
Products such as power tools, computers, and office furniture that typically cost less and last for shorter periods than
installations
Component parts and materials
Finished business products of one
producer that become part of the final products of another producer
Installations
Major capital investments in the B2B market
Raw materials
Natural resources that become part of a final product
Supplies
The regular products a firm uses in daily operations
Business services
Intangible products firms buy to facilitate their
production and operations
Managing Brands for Competitive Advantage
Brand
Definition - a name, term, sign, symbol, design, or some combination that identifies the products of one firm while differentiating these products from competitors
Brand Loyalty
Brand recognition: consumer awareness and identification of a brand
Brand preference: when buyers choose a product over a competitor based on experience
Brand insistence: when consumers refuse alternatives and search extensively for the desired product
Brand Equity and Personality
Brand equity: the added value
the brand gives to a product in the
marketplace
Protecting Brand Identity
Brand name
the part of a brand that can be spoken and distinguishes a firm’s offerings from those of its competitors
Brand mark
Symbol or pictorial design that distinguishes a product
Trademark
Brand for which the owner claims exclusive legal
protection
Trade dress
Visual cue used in branding that create an overall look
differentiating a brand or product from competitors
Types of Brand Strategies
Manufacturer brand
Brand names owned by a manufacturer or other
producer
Private brands
Brands offered by wholesalers and retailers
Generic products
Products sold without any efforts at brandin
Brand Extension vs. Line Extension
Line extension is the development and implementation of new sizes, styles, or related product offerings
Brand extension implies attaching a popular brand name to a new product in an unrelated product category
Three Major Objectives of Packaging
Assistance in marketing the product
Cost-effectiveness
Protection against damage, spoilage, and pilferage
Label
A branding component that carries an item’s brand name or symbol, the name and address of the manufacturer or distributor, information about the product’s composition and size, and recommended uses