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PRODUCTS

PRODUCTS. Things / services that are produced for sale. WHAT IS A PRODUCT?. physical objects services le i sure activities people (politicians, sportsmen, actors) places (holiday resources) organizations (hospitals, colleges) ideas FOR SALE. PRODUCT LINES.

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PRODUCTS

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  1. PRODUCTS Things / services that are produced for sale

  2. WHAT IS A PRODUCT? • physical objects • services • leisure activities • people (politicians, sportsmen, actors) • places (holiday resources) • organizations (hospitals, colleges) • ideas FOR SALE

  3. PRODUCT LINES • groups of related products made by the same company • in different sizes, models

  4. PRODUCT MIX combination of all products

  5. PHYSICAL PRODUCTS CAN BE SUPPORTED BY • CUSTOMER ADVICE • DELIVERY • CREDIT FACILITIES • WARRANTY (GUARANTEE) • MAINTENANCE • AFTER – SALES SERVICE

  6. BRAND • name • symbol • logo • design • packaging

  7. BRAND NAME Type of product manufactured by a particular company 1. Corporate branding the name of the company on all products 2. Individual branding various products under individual brand names (multi-brand strategy)

  8. Usual working day Wake up Sony-Ericsson, Colgate, Nescafe, Danone, Orbit Renault, Compaq, Sony-Ericsson, Sony-Ericsson, Sony-Ericsson McDonalds, Coca-Cola, Orbit Compaq, Sony-Ericsson, Sony-Ericsson, Sony-Ericsson, Renault Tuborg Tuborg Tuborg-Tuborg-Tuborg Sony-Ericsson....Sony-Ericsson Durex Colgate Day is over

  9. BRANDADVERTISING • B2B (Business-to-Business) – materials, components • B2C (Business-to-Consumers) consumer goods

  10. ADVANTAGES OF BUILDING UP A BRAND • brands encourage customer loyalty • customers are willing to pay higher prices • good brands are worth a lot of money • you can do brand stretching (extend to a new type of product, break into a crowded market) • you can take a brand down-market (introduce new products at lower prices to capture a broader market)

  11. CUSTOMERS • loyal customers • brand switchers

  12. A company’smarket value = the combined price of all its shares BRAND VALUE = market value + customer loyalty

  13. 1. MK: p: 61, Vocabulary 2. What lines of products does “Kraš” produce? ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

  14. 3. FILL IN THE GAPS: brand identity, brand recognition, generic products, brand image, brand A _______ is a name a company gives to its products so they can be easily recognized. Brand awareness or __________________is how much people recognize a brand. The ideas people have about a brand is its __________. Branding is creating brands and keeping them in customers’ minds through advertising, packaging, etc. A brand should have a clear _____________so that people think of it in a particular way in relation to other brands. Products that are not branded, those that do not have a brand name, are ________________or generics. (taken from: Bill Mascull: Business Vocabulary in Use)

  15. http://www.youtube.com/watch?v=vOT07BUo9jY&feature=fvwrel4. Answer the following questions: 1. What is a brand? 2. What do you need to know to develop a successful brand? 3. What factors help your customers “see” your products? 4. What does the word “brand” include? 5. What are brand values? 6. What does “demographic” refer to? 7. What does the word “tangible“refer to in marketing? 8. What are intangible benefits? 9. What is a focus group? 10. What is brand awareness? 11. What is brand recognition? 12. What is a trademark or logo? What can be trademarks? 13. What is a company’s corporate identity? 14. What can these visual elements include?

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