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Product Strategies

Principles of Marketing Unit 6. Product Strategies. Instructor: Safaa S. Y. Dalloul. Elements of Lecture. Product Strategy. Product Characteristics and Classifications. Components of Market Offering. Product Levels. Components of Market Offering. Components of Market Offering.

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Product Strategies

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  1. Principles of Marketing Unit 6 Product Strategies Instructor: Safaa S. Y. Dalloul

  2. Elements of Lecture • Product Strategy • Product Characteristics and Classifications • Components of Market Offering • Product Levels

  3. Components of Market Offering

  4. Components of Market Offering

  5. Product Levels

  6. Product Levels

  7. Product Levels

  8. Product Levels Examples of Product Level

  9. Product Classifications

  10. Product Classifications • Durability and Tangibility • Durable: Many uses such as refrigerators • Non-durable: Normally consumed such as soap • Services: intangible such as legal advice • Consumer Goods Classification • Industrial Goods Classification

  11. Customer Goods Classifications

  12. Industrial Goods Classifications • Material and Parts • Capital Items • Supplies and Business Services

  13. Differentiation

  14. Differentiation Differentiation: process of adding a set of meaningful and valued differences to distinguish the company’s offering form competitor’s offering

  15. Differentiation Product Design Parameters

  16. Differentiation Service Design Parameters

  17. Product System

  18. Product System Product System: A group of diverse but related items that function in a compatible manner, eg, cellular phone with earphone, battery, radio and cameras.

  19. Product System Product Mix

  20. Brand

  21. Brand Brand: A name, term, sign, symbol, or design, or a combination of these, intended to identify the goods or services of one seller or group of sellers and to differentiate them from the competition.

  22. Brand Brand Levels Attributes: A brand brings to mind certain attributes. Benefits: Attributes must be translated in to functional & emotional benefits Values: The brand say something about the product (Mercedes-Safety)

  23. Brand Brand Levels Culture: It may represent a certain culture (Mercedes- German) Personality: It project a certain personality User: It suggests the kind of consumer who buys or use the product.

  24. Packaging, Labeling, Warranties and Guarantees

  25. Packaging, Labeling, Warranties and Guarantees Packaging: is all activities of designing and producing the container for a product. Primary Package Secondary Package Shipping Package

  26. Packaging, Labeling, Warranties and Guarantees Function: create convenience and promotional value, a styling weapon, attracting consumers. Self-Service: providing info and attracting customers. Consumer affluence: consumers’ willingness to pay more. Company and brand image: instant recognition of the brand

  27. Packaging, Labeling, Warranties and Guarantees Innovation opportunity Innovative packaging can bring large benefits to consumers and profits to producers. Companies are incorporating unique materials and features such as resalable spouts and openings. Fragrance bottle design and soft drinks.

  28. Packaging, Labeling, Warranties and Guarantees Package design Establishing the packaging concept: deciding what should be or do for the package Designing the package: size, shape, materials, color, text, brand mark Packaging test: engineering tests, visual tests, dealer test and consumer test

  29. Packaging, Labeling, Warranties and Guarantees Labeling Sellers must label products. The label may be a simple tag attached to the product or an elaborately designed graphic that is part of the package. The label might carry only the brand name or a great deal of information. Labels eventually become outmoded and need freshening up.

  30. Packaging, Labeling, Warranties and Guarantees Functions Identification, Grading Description, producer, instruction, expiry date,… Promotion: through graphic or color on the label

  31. Packaging, Labeling, Warranties and Guarantees Warranties All sellers are legally responsible for fulfilling a buyer's normal or reasonable expectations. Warranties are formal statements of expected product performance by the manufacturer.

  32. Packaging, Labeling, Warranties and Guarantees Warranties Products under warranty can be returned to the manufacturer or designated repair center for repair, replacement, or refund. Warranties, whether expressed or implied, are legally enforceable.

  33. Packaging, Labeling, Warranties and Guarantees Guarantee many sellers offer Reduce the buyer’s perceived risks Suggesting that the product is high quality and that the company and its service performance are dependable

  34. Packaging, Labeling, Warranties and Guarantees Guarantee Effective when: The company or the product is not well-known The product’s quality is superior to the competition

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