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Marketing Management • Week 9

Marketing Management • Week 9. Brand , Product / Service. Chapter 9, 10, 12, 13. Chapter 9. Creating Brand Equity. Strategic Brand Management. Identify. Measure/ Interpret. Plan. Grow. Brand.

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Marketing Management • Week 9

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  1. Marketing Management • Week 9

  2. Brand , Product / Service Chapter 9, 10, 12, 13

  3. Chapter 9 Creating Brand Equity

  4. Strategic Brand Management Identify Measure/ Interpret Plan Grow

  5. Brand “A name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.”

  6. Role of Brands Consumer Benefits • Brands: • Identify source/maker • Simplifies decision making • Reduces risk

  7. Role of Brands Marketer Benefits • Brands: • Simplify product handling • Protect unique features • Create loyalty • Establish barriers to entry

  8. Scope of Branding Creating difference between products Brand

  9. Brand Equity The added value endowed on products and services because of the brand.

  10. Customer-based Brand Equity Differences in consumer response Consumers’ brand knowledge Perceptions, preferences, and behaviors

  11. Brand Dynamics Pyramid Figure 9.3

  12. Brand Resonance Pyramid Figure 9.4

  13. Building Brand Equity

  14. Brand Element Choice Criteria Brand Builders Memorable Meaningful Likable Defensive Transferable Adaptable Protectable

  15. Developing Brand Elements What was the name of that cookie I like? • Easy to recall • Descriptive • Persuasive

  16. Crafting the Brand Position Chapter 10

  17. Marketing Strategy S T P

  18. Positioning The act of designing a company’s offering and image to occupy a distinctive place in the minds of the target market.

  19. Brand Positioning Quality • Customer wants and needs • Company capabilities • Competitive actions Brand A Price D E G C F B

  20. Value Proposition What the brand could be What the brand is

  21. Value Proposition Examples

  22. Brand Positioning Frame of Reference Points of parity / difference Brand mantra

  23. Competitive Frame of Reference Identifying Competitors Analyzing Competitors

  24. Points of Parity / Difference Points of Parity POP Points of Difference POD

  25. Choosing POPs and PODs Brand Benefits Brand Attributes Reasons to believe Proof points

  26. Setting Product Strategy Chapter 12

  27. Marketing Planning Needs Wants

  28. Figure 12.1 Components of the Market Offering

  29. Product Characteristics/Classifications • Experiences • Events • Properties • Organizations • Information • Ideas Persons Goods Places Services

  30. Figure 12.2 Five Product Levels

  31. Product Levels Core Benefit (Rest and sleep) Basic Product (Bed, bathroom, towels) Customer-value Hierarchy Expected Product (Clean bed, fresh towels) Augmented Product (Free Internet; free breakfast) Potential Product (Future augmentations)

  32. Product Classifications Durability and Tangibility Nondurable goods Durable goods Services

  33. Product Classifications Consumer-Goods • Staples • Impulse goods • Emergency goods Specialty goods Convenience goods Shopping goods Unsought goods

  34. Product Classifications Materials and Parts Industrial-Goods Manufactured materials Capital Items Installations Raw materials Supplies and business Services Equipment

  35. Product and Services Differentiation

  36. Product Differentiation Form Features Customization Durability Performance Conformance Reliability Repairability Style

  37. Services Differentiation Customer Consulting Delivery & Returns Ordering Ease Training Installation Maintenance & Repair

  38. Design Functional Benefits Aesthetic Benefits

  39. Product and Brand Relationships Product Hierarchy Product Systems/Mixes Product Line Analysis Product Line Length Product Mix Pricing Co-Branding

  40. Product Systems and Mixes Consistency Product System

  41. Proctor & Gamble Product Mix Product Mix Width Product Line Length

  42. Product Line Analysis Sales and Profit Market Profile

  43. Designing and Managing Services Chapter 13

  44. Service Sectors Private nonprofit Business Government

  45. Service An act or performance one party can offer to another that essentially intangible and does not result in the ownership of anything.

  46. Categories of Service Mix Major service, minor good Pure Tangible Good Pure Service Hybrid Tangible Good minor service

  47. Service Characteristics Intangibility Variability Inseparability Perishability Empty seats

  48. Achieving Excellence in Services Differentiating Services Marketing Excellence Best Practices

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