Chapter 9: Product, Branding, and Packaging Decisions Flashcards
What is a Product? core, actual, augmented
Core: core customer benefit/value
actual product: brand name, quality, packaging, design
augmented product: associated services such as financing, warranty, support
types of goods (4)
convenience: buy frequently
shopping: buy less frequently
speciality: buy occasionally
unsought: rarely purchased, costly,
Product management decisions (5)
look at textbook for picture
Product mix: the entire table
Product lines: section . of products
Product category: reltaed products in a product line
product mix breadth: (increase) add new product lines
(decrease) delete entire product lines
product line depth: number of products within a product line
what is a brand
identified by its name, logo, symbols, characters, slogans etc
what is branding
process concerned with creating and maintaining a set of values - tangible and intangible - distinguishes from competitor’s brand
why brand (lots)
offers value to the customer and to the company:
brands facilities purchasing
brands establish loyalty
brands protect from competition
brands reduce marketing costs
brands are assets
brands impact market value
generates new customers
etc.
brand awareness (2)
aided and unaided recall: if you can identify the swoosh its unaided, aided recall means it needs a hint to guess the brand
brand strategies (3)
national branding: coke, google, tylenol, etc.
private label brands: store brands, presidents choice, great value, etc.
generic brands: cola
brand dilution
when you make an addition to your brand but it fails
Co-branding
two brands come together t share customers, advertising, costs, etc.
Brand packaging and labelling (what to do)
standout be simple distinct brand mark emotional attachment iconic packaging and design
