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Product and Branding Strategy

Product and Branding Strategy

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Product and Branding Strategy

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  1. Product and Branding Strategy

  2. Liril Kaun Banega Crorepati MARKETERS ARE INVOLVED IN:

  3. Product GOODS– soaps, cars, computers………… SERVICES– airline, hotels, hospitals………. INFORMATION – encyclopedias, internet, magazines… EXPERIENCES – scuba diving, trekking, safari, an evening with Ash PROPERTIES – real estates, bonds & stocks…… ORGANIZATIONS – corporate communications: Richard Branson /Virgin EVENTS –the Olympics, Miss Universe, trade fairs… PERSONS – celebrity marketing, Sachin…… PLACES – Ganapatipule, Ooty,…… IDEAS – Consulting, Legal……

  4. The Product Levels Product levels Core benefit Core Basic product Expected product • Augmented product Potential product

  5. Products satisfy needs Maslow’s Hierarchy of Needs

  6. Satisfied Customers !! • Satisfaction = Perceived Benefit ------------------ Perceived Sacrifice • Delighted = Ratio far > 1 • Dissatisfied : Effect on next purchase?

  7. Customer Value • TOTAL • CUSTOMER • VALUE • Product • Services • People • Channel • Image • TOTAL • CUSTOMER • COST • Monetary • Time • Energy • Psychic Customer Delivered = Value -

  8. Consumer Buying Process Need Recognition Information Search Evaluation of Alternatives Purchase Post-Purchase Behavior

  9. Successive Sets Involved in Customer Decision Making Total Set Awareness Set Consideration Set Choice Set Decision Philips LG Samsung Sansui Onida Videocon Sony BPL Hitachi Akai National Aiwa LG Samsung Sansui Onida Videocon Sony BPL Akai Aiwa LG Samsung Sansui Onida Videocon Aiwa Sansui Onida Videocon ? FISHBEIN MULTI-ATTRIBUTE MODEL FOR BUYING

  10. Inside the Product !! After-sales Warranty Features Style Design Packaging Branding Installation Training Credit Delivery

  11. Differentiation Variables FEATURES vs BENEFITS STYLE : Aesthetic appeal DESIGN : Functionality

  12. Packaging • Packaging Dilemma : Cost or 5th P in Marketing • Packaging Decisions • Aesthetics • Convenience • Material • Packaging a Strategic Weapon !!!

  13. Branding Challenges • Branding Decision: To Brand or Not to Brand? • Brand Name Selection • Branding Strategy

  14. To Brand Or Not To Brand ? ADVANTAGE BRANDING? • Branding aids the consumer purchase process • Branding makes it easier for the seller to process orders and track down problems • Branding gives the seller the opportunity to attract a loyal and profitable set of customers. • Branding helps access to segment markets. • Branding makes it easier to launch new brands • Branding allows to leverage with trade.

  15. To Brand Or Not To Brand ? • DISADVANTAGE BRANDING? • Branding is an expensive proposition • Branding put pressure on seller to sell consistent quality product • Branding pre-empts entry into market as an extension when mother brand has failed

  16. Brand Name Selection Desirable qualities for a brand name • It should be easy to spell, pronounce, recognize, and remember • It should be distinctive • It should not carry poor meanings in other countries and languages • It should allow for associations with the product’s benefits • It should suggest the product category

  17. Branding Strategy Three available strategies: • Individual brand name • Family/ Umbrella brand name • Corporate brand name HLL vs P&G Branding of Bath soaps ??

  18. The Product Classification TANGIBLE Soaps Toothpastes Shirts Furniture Computers Cars Hotel Airlines Banking Insurance Education Consultancy Medical Diagnosis • INTANGIBLE

  19. Consumer Goods Convenience Shopping Specialty Unsought goods goods goods goods • Homogeneous shopping goods • Heterogeneous shopping goods • Staples • Impulse • goods • Emergency • goods

  20. Industrial Goods • Supplies and Services • Maintenance/Repair items • Operating supplies • Maintenance/Repair services • Business advisory services • Materials/Parts • Raw Materials • Fabricated materials • Fabricated parts • Capital items • Installations • Equipment

  21. The Product Mix • Product mix (Product Assortment) • Product mix has a certain: • Width • Length • Depth • Consistency

  22. Product-Mix and Product-Line Length for Procter& Gamble

  23. Product-Mix and Product-Line Length Why have a wide or narrow product mix? What conditions influence length/depth decisions ? LifebuoySoap (Carbolic version) was the mother brand of the series of extensions. Lifebuoy was always positioned on the health platform. HLL then launched extensions viz; Lifebuoy Plus, Lifebuoy Gold, Lifebuoy Antibacterial liquid and recently Lifebuoy Talc. The company has also recently launched Ayush Soap also on the health platform. That apart the company has many other premium and popular bath soaps. Comment on the Product mix strategy of HLL

  24. The Product Length Surf Excel Surf Ultra • Product-line length • Line Stretching • Downmarket Stretch • Upmarket Stretch • Two-Way Stretch SURF RIN WHEEL

  25. The Product Life Cycle • Product hierarchy • Need family • Product family • Product class • Product line • Product type • Item

  26. The Product Life Cycle A life cycle plots sales of an offering or a product class over a period of time. • There are FOUR main stages: • Introduction • Growth • Maturity (Saturation) • Decline

  27. Sales Sales Profits Introduction Growth Maturity Decline The Product Life Cycle

  28. LIFECYCLESTRATEGIES

  29. New Product Development Six categories of new products • New-to-the-world products • New product lines • Additions to existing product lines • Improvements and revisions of existing products • Repositioning • Cost reductions

  30. NEW PRODUCT DEVELOPMENT PROCESS Idea Generation Caution : Go Error / Drop Error Idea Screening Concept Development Category concept / Brand Concept Concept Testing Marketing Strategy Business Analysis Product Development • How many test cities? Which cities? • Length of test? • What information? • What action to take? Market Testing Commercialisation When / Where / Whom / How ?

  31. Product-Idea Rating Device

  32. New Product –Innovation Diffusion Awareness Interest Trial Evaluation Adoption

  33. New Product Adoption RATE OF ADOPTION AFFECTED BY • Relative advantage • Compatibility • Complexity • Divisibility • Communicability

  34. New Product Adoption ADOPTER CATEGORIES