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Products are Complex

Products are Complex. Augmentations. Product Issues. Product Lines Groups of associated items, such as those that consumers use together or think of as part of a group of similar products. Product Category An assortment of items that the customer sees as reasonable substitutes for one another

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Products are Complex

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  1. Products are Complex Augmentations pom8

  2. Product Issues Product LinesGroups of associated items, such as those that consumers use together or think of as part of a group of similar products Product Category An assortment of items that the customer sees as reasonable substitutes for one another Product Forms Different approaches to solving customer problems within a category Product Assortments The complete set of all products offered by a firm; also called the product mix pom8

  3. Types of Products • Strong customer preference • Will expend considerable effort Customers will spend time comparing alternatives Customer not willing to spend any effort to evaluate prior to the purchase Products customers do not think of buying or do not know about pom8

  4. Naming Brands and Product Lines • Individual lines • Mr. Clean (Proctor & Gamble) • Corporate or family brand • The Gap • Corporate and product line brands • Kellogg’s Corn Flakes pom8

  5. Product Assortment and Product Line Decisions pom8 10-5

  6. Product Assortment and Product Line Decisions Category Depth Number of stock keeping units (SKUs) within a category Brand The name, term, design, symbol, or any other features that identify one seller’s good or service as distinct from those of other sellers pom8 10-6

  7. Frito-lay: Doritos Branding What Makes a Brand? pom8 10-7

  8. Value of Branding for the Customer and the Marketer pom8 10-8

  9. Brand Equity: Brand LoyaltyCombined customer attitudes toward a brand • Consumers are often less sensitive to price • Marketing costs are much lower • Firm insulated from the competition BW_using_brand_history384K_Stream.wmv pom8 10-9

  10. Brand ExtensionThe use of the same brand name for new products being introduced to the same or new markets pom8 10-10

  11. Co-Branding Marketing two or more brands together pom8

  12. Brand Dilution Occurs when a brand extension adversely affects customer perceptions about the attributes the core brand is believed to hold pom8

  13. Brand RepositioningA strategy in which marketers change a brand’s focus to target new markets or realign the brand’s core emphasis with changing market preferences • How is this repositioning? pom8 10-13

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