...SUMMARY Product is the first and most important element of the marketing mix. Product strategy calls for making coordinated decisions on product mixes, product lines, brands, and packaging and labeling. In planning its market offering, the marketer needs to think through the five levels of the product: the core benefit, the basic product, the expected product, the augmented product, and the potential product, which encompasses all the augmentations and transformations the product might ultimately undergo. Products can be classified in several ways. In terms of durability and reliability, products can be nondurable goods, durable goods, or services. In the consumer-goods category, products are convenience goods (staples, impulse goods, emergency goods), shopping goods (homogeneous and heterogeneous), specialty goods, or unsought goods. In the industrial-goods category, products fall into one of three categories: materials and parts (raw materials and manufactured materials and parts), capital items (installations and equipment), or supplies and business services (operating supplies, maintenance and repair items, maintenance and repair services, and business advisory services). Brands can be differentiated on the basis of a number of different product or service dimensions: product form, features, performance, conformance, durability, reliability,...
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...Why does branding help generate sale, and why is it not effective in some situations? Branding seems to be the firstly principal notion when people discuss about marketing. Marketers always take branding as the foremost thing into their consideration when launching a new product and repositioning a product’s image. “Back to the primitive time, branding was used as the tool in differentiating one product from another. However, in today’s world among fierce and pressure competition, the role of branding has been developed to be more sophisticated as it has been recognized as the central of product’s personality”. (Murphy,1988) In this essay, it would be focused on the reason why branding helps generating sales and why it is sometimes not effective. To begin with, “branding is the fundamental approach which marketers normally adopt in order to add more distinctive values to the core product and differentiate those products from other competitors. Hence, they would be able to draw customers’ interest in purchasing that particular product. Branding sometimes even develop product’s image to be more premium in customers’ perception and thus increase company’s ability to charge more and generate higher sales”.(Mayer and Vambery,2013) For instance, “the sales of BMW car is higher than Ford car’s even though the price of BMW is significantly higher. This represents that customers would make the decision according to their brand value perceptions that BMW car which they believe it would...
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...Written By | Greg Stine The Nine Principles of Branding Supplemental Information for the Branding Essentials Workshop 2 4 6 9 12 14 16 18 20 23 26 29 32 Branding at a Glance Branding: What Is All This About, Anyway? Branding Principle #1: Keep It Simple Branding Principle #2: Mass-Produced Word of Mouth (PR) Builds Brands Branding Principle #3: Focused Brands are More Powerful Branding Principle #4: Differentiation is Key Branding Principle #5: The First Brand Advantage Branding Principle #6: Avoid Sub-brands at All Cost Branding Principle #7: Perception vs. Quality Branding Principle #8: Be Consistent and Patient Branding Principle #9: Write Out Your Brand Definition Discovering More Than Just Your Brand About the Author Table of Contents 2 Branding at a Glance By Greg Stine President of Polaris, Inc. The success of a product, service, individual, business, organization, or even a city is based on being perceived as unique. Look at any market leader and you’ll find they each own a place in the consumer’s mind. They have positively differentiated themselves from the rest of the competition. Branding is creating that individual niche in the consumer’s psyche and owning it. More than just marketing, branding is the entire effect that creates a memorable identity. A successful branding program is also based on differentiating yourself as unique. Effective branding creates a perception that there is no other product, service...
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... |Product: BTEC, range of different courses | | | |for students | |Brand identity |Branding is very important for this typical business, |This organisation does not take branding as | | |because on every product which has been produced by |serious as Superdrug; because they have a | | |them, they advertise it by putting the slogan there. So|different purpose to advertise and to exist. | | |costumers will know who made the product and where they|However every time when Exeter College is | | |can get it from. Also i think Superdrug takes branding |advertising something, they put their logo at| | |very seriously, because when you purchase something in |the top of the right corner. Their logo is | | |their shop, they give you bright pink bags with the |simple and noticeable as well. They have used| | |name of the shop. This is very good marketing hint, |a blue tick in the logo. A tick presents that| |...
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...short term programs where the student obtains hands on training in a classroom and lab environment. The classes are taught by instructors with a minimum of three years in field experience, who understand the operation of the business to which they teach. The mission statement for The Technology Training Academy: To educate and produce employable graduates within their chosen field of study allowing them an effective fast track to their career of choice. As such, the end result requires The Technology Training Academy to include in the training, assistance with their job search and their obtaining a position with a business in the realm of training. The training for placement of all Technology Training Academy graduates will require the development of business relationships within the locale of the campus. The purpose of establishing and maintaining the business relationships is to encourage the business entities to hire qualified graduates of The Technology Academy. This will require branding of The Technology...
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...qwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmrtyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmrtyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmrtyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmrtyuiopasdfghjklzxcvbnmqwer...
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...Marketing Chapter 7 Notes Product, Services, and Brands: Building Customer Value I. What is a product? * Product: anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. * can include events, persons, places, organizations, ideas. * Services: An activity, benefit, or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything. * Examples: banking, hotel, airline travel, retail, wireless communication * A company’s market offering often includes both intangible and tangible goods and services. Two extreme ends: pure tangible goods, pure services. * In order for companies to differentiate their offers, they are creating and managing customer experiences with their brands or companies. * Levels of Product and Services: three main levels 1. Core customer value. “What is the buyer really buying?” Most basic level. 2. Actual Product. Need to develop product and service features, a design, a quality level, a brand name, and packaging. 3. Augmented product. Must build an augmented product around the core benefit and actual product services and benefits. * “Consumers see products as a complex bundles of benefits that satisfy their needs. When developing products, marketers first must identify the core customer value that consumers seed from the product. They must then design the actual product and find ways to augment...
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...how to best develop a brand. Branding is a focal part of marketing which helps companies distinguish themselves from one another. Today’s marketers are faced with challenges on selecting the best branding strategies; should branding be done using functional marketing and or using physic(emotional) marketing? Marketing is an ever-evolving dynamic process that doesn’t seem to have a one simple cut solution. It’s important for a company to convey their brand in a powerful manner while embodying the true essence of what the company stands for. Today’s marketplace is more challenging than ever and it’s important to have a strong marketing message that resonates well with consumers. In the post-recession era, consumers are far more meticulous and price-conscious on purchasing quality goods at the best value. Marketers need to be aggressive more than ever to develop good branding messages to chase after scarce discretionary dollars. Branding Strategies Creating a brand strategy is an intricate process while considering a company’s target market, value opportunity gap, and competitive opportunities to establish the brand’s concept. Companies place great focus on the brand concept, because this is how their product is desired to be perceived by consumers. In developing a brand marketing strategy, marketers must create a viable strategy for the long-term to create and sustain notable distinctions of a product over its competitors (Singh, 2012). Branding strategies help differentiate...
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...RESEARCH METHODOLOGY MINI THESIS “INFLUENCE OF MIDNIGHT SALE TOWARDS WOMAN AT JAKARTA” By : Annysa Yuliaty 014201100130 IB 2 CHAPTER 1 INTRODUCTION 1.1 Introduction Midnight is the middle of the night, specifically 12 o'clock at night. Intense darkness or gloom. A period of darkness and gloom. In the daily cycle of time, midnight represents the deepest point of negativity, when ghosts, demons, and all uncanny beings are most active. It is prescribed for many magic rituals and divinations. In modern times it is mathematically defined, so one is told that such-and-such will happen ‘when the clock strikes twelve’; regarded thus, it derives much of its significance from its ambiguous status—does it belong to the day that has just ended or to that which is beginning? However, in earlier centuries the term was more loosely applied, to a period rather than a point of time; it is not clear how long this was considered to be, but all supernatural evil forces were supposed to vanish when the cocks first crowed. Confusingly, midnight is also a time for certain celebratory rites, such as first footing and seeing the New Year in. This is because by modern reckoning a day begins at midnight (not at sunset, as in ancient cultures), so the day which inaugurates a new cycle must be launched with joyful and luck-bringing rituals at the earliest opportunity. Midnight sale is executed in order to stimulate consumers to buy the old product. According Taftayani (2011)...
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...Section: HBR CASE STUDY Rose Partyware's largest retail customer has decided to create a private-label line of party goods-and wants Rose to manufacture it. Should Rose put its efforts behind its own brand instead? TOM ROSE hated to go to a meeting with ice cream on his pants. But Rose Partyware's after-school party-a monthly gesture of goodwill to the local community and, not incidentally, a field trial for products the company was developing- had confirmed his suspicions that one of the new ice-cream bowls was just too shallow. The five-year-old who had demonstrated that fact had been sitting right next to him. So here he was getting ready to listen to a major presentation, with paper towels in his hands. "Go ahead, Cassie," Tom said to his marketing director. "It'll dry or harden--or something. Thankfully, it's my last meeting of the day!" He could tell that Cassie Martin was excited about the presentation she was going to make to the top management team. Tom had personally recruited her about a year ago to spearhead the biggest strategic initiative in Rose's history: the launch of a branded line of party ware. In fact, it was the first time a company in the party goods industry had contemplated a branding effort, at least in the 30 years Rose had been in business. Party Lines Rose manufactured a wide variety of paper goods- plates, bowls, cups, napkins, tablecloths, favors, crepe-paper streamers, and so forth- for birthday and holiday parties and other social...
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...BRAND MANAGEMENT Student: Drobnjak Anja, K-5050 Professor: Prof. dr David Jones Warsaw, 22.01.2014. Contents Introduction 4 Branding 5 The Laws of Branding 6 Branding and its components 8 Brand implementation 9 Brand awareness 9 Brand recognition 10 Brand equity 10 Brand elements 11 Brand Bubble Trouble 12 Strategic brand management 13 Adidas - a brand that identifies with its performance 15 Coca-Cola as Number One 17 Disney world 18 Conclusion 18 Abstract One of the most valuable intangible assets of a firm is its brand, and building a strong brand is both an art and a science. It requires careful planning, a deep long-term commitment and creatively designed and executed marketing and management. This paper will try to show that brand management is a communication function which includes analysis and planning on how that brand is positioned in the market, which target public the brand is targeted at and maintaining a desired reputation of the brand. Attention will also be directed on the tangible elements of brand management such as a product itself; look, price, the packaging, etc. It will include some components of brand management, laws of brending, strategic brand management and its importance, and also examples of well known companies, in order to show nowadays rising role of brands and made some conclusions. Key Words: brand management, brand, strategic brand management, brand...
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...by the company, Italian Range 3in1 coffee faced a stiff competition from well established, local and international competitors. The root cause of the product marketing difficulties faced by the company is lack of initial research. Conducting a refined research and planning are vital to ensure that the business idea is viable and to ensure that the product is able to compete in the market and to provide an adequate return to the company. In addition, market research allows the company to get a new insight regarding the market conditions that the company can be benefit from. However, lack of proper market research is the root cause of the key problems faced by this product and as a result, consumers are still not aware about the existing of the brand. Key Marketing Issues Conflict in Branding Brand confusion will create confused customers. The initial business strategy of Inbisco is to become a cost leadership organization by offering affordable and cheap range of products. However, with the introduction of Italian Range 3in1 coffee, the company begins to divert their strategy from being the cost leadership business into producing luxury products which offering at higher pricing cost. This has created brand confusion among the customers, because the consumers’ perceptions and beliefs about that product are inconsistent since they already had their own perceptions towards the company brand, which is cheap and affordable. Consumer confusion towards the brand will amount...
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...TOPIC BRANDING STRATEGY OF HINDUSTAN UNILEVER LIMITED SUBMITTED BY PRIYANKA S. TELANG UNDER THE GUIDANCE OF SAMADHAN KHAMKAR IN THE FULFILLMENT OF THE REQUIREMENT FOR THE DEGREE OF BACHELOR OF MANAGEMENT STUDIES UNIVERSITY OF MUMBAI ACADEMIC YEAR 2009-2010 CHIKITSAK SAMUHA’S S.S & LS PATKAR VARDE COLLEGE OF ARTS COMMERCE & SCIENCE AND V.P VARDE COLLEGE OF COMMERCE & ECONOMICS,GOREGAON (W) MUMBAI -62 1 CHIKITSAK SAMUHA’S PATKAR – VARDE COLLEGE OF ARTS, COMMERCE SCIENCE. GOREGAON (W), MUMBAI -400063 CERTIFICATE This is to certify that PRIYANKA SHASHIKANT TELANG OF T.Y.Bachelor of Management studies VI (2009-2010) has successfully completed the project on “BRANDING STRATEGY OF HUL” under the guidance of SAMADHAN SIR. COURSE CO-ORDINATOR PROJECT GUIDE/INTERNAL EXAMINAR EXTERNAL EXAMINER 2 CHIKITSAK SAMUHA’S PATKAR – VARDE COLLEGE OF ARTS, COMMERCE SCIENCE. GOREGAON (W), MUMBAI -400063 DECLARATION I, PRIYANKA TELANG OF Patkar –Varde College of TYBMS (semester VI) hereby declare that I have completed this project on “BRANDING STRATEGY OF HUL” during the academic year 2009-2010. The information submitted is true and original to the best of my knowledge. DATE: SIGNATURE OF STUDENT PLACE: MUMBAI 3 ACKNOWLEDGEMENT I wish to express my profound gratitude to PROF.SAMADHAN KHAMKAR for his kind support and valuable guidance for the completion of this project. I also express my sincere thanks to my principal and BMS co-coordinators...
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...counterparts to match with Asian taste. Starbucks in Asian region also serves green tea latte to suit Asian habits of drinking tea, especially green tea. The next controllable element Starbucks encountered is the pricing factor. Since Starbucks is going global, Starbucks have to have a good pricing strategy to suit every market. Pricing strategy can be in various forms like bundle pricing or discounts and rebates. Pricing also determine the target customer of the business. Starbucks in this case does not compromise on the price. Starbucks are adopting high end pricing rather than competitive pricing. Starbucks is confident that the coffee they serve will certainly worth the price customers pay for. Therefore Starbucks never lower the price as doing so will reduce its brand value. Instead Starbucks continue with the same price and serve superior quality coffee to people that values Starbucks. Promotion is a controllable factor to Starbucks. Promotion includes advertising and media selection and positioning. Promotion should not just focusing on the product, instead should be focus on the branding. This is because a particular product can have many sellers. Therefore it is the branding and positioning that differentiates...
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...Chapter 12: Setting Product Strategy GENERAL CONCEPT QUESTIONS Multiple Choice 1. Marketing planning begins with the formulation of an offering to ________ target customers’ needs or wants. a. exceed b. meet c. capture d. compete with e. comprehend Answer: b Page: 372 Level of difficulty: Easy 2. The customer will judge the offering by three basis elements: ________, services mix and quality, and price. a. performance b. salespeople c. price d. product features and quality e. none of the above Answer: d Page: 372 Level of difficulty: Easy 3. The components of the market offering include all of the following EXCEPT ________. a. product feature b. product quality c. reputation of firm d. services mix and quality e. value-based pricing Answer: c Page: 372 Level of difficulty: Easy 4. In planning its market offering, the marketer needs to address five product levels. These levels include all of the following EXCEPT ________. a. potential product b. augmented product c. core benefit d. basic product e. product usage/purpose Answer: e Page: 372 Level of difficulty: Medium 5. The five product levels constitute a ________. At each level more customer value is added. a. customer augmented product b. customer consumption system c. customer value hierarchy d. customer perceived value e. customer hierarchy Answer: c Page: 372...
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