Week 4-5 Flashcards
It is the value of a brand, based on the extent to which it has high brand loyalty, name awareness, perceived quality, strong brand associations and other assets such as patents, trademarks and
channel relations.
Brand equity
Advantages of Brand Equity
- high consumer awareness and loyalty
- greater ease in launching brand extensions because of high brand credibility
- a good defense against fierce price competition
- belief in being the company’s most enduring asset
Packaging
- PRIMARY PACKAGE
- SECONDARY PACKAGE
- SHIPPING PACKAGE
main container of product
PRIMARY PACKAGE
Supports the primary container
SECONDARY PACKAGE
PROTECTS THE PRODUCT DURING SHIPMENT
SHIPPING PACKAGE
Purpose of packaging
- To protect the product
- To enhance the products value
- To stimulate sales
part of packaging and consist of printed information
Labelling
Function of Labelling
- It identifies the product or brand
- It might describe several things about product
- It might promote the product through attractive graphics
Purpose of product support services
- Good customer service is good for business.
- Monitor customer complaints.
- Set up strong customer service departments to truly give excellent service
Service Market Characteristic of Services
- Intangibility
- Inseparability
- Variability
- Perishability
which cannot be seen, tasted, felt, heard, or smelled before they are bought. The strategy for making the service offering more tangible is to try to draw the buyer’s attention to tangible features like place, people, price, equipment or communications that they see.
Intangibility
which are produced and consumed at the same time and cannot be separated from their providers, whether the providers are people or machines. Both the provider and the consumer affect the service outcome.
Inseparability
whose quality may vary greatly
depending on who provides them and
when, where, and how.
Variability
which cannot be stored for later sale or use. Service perishability is not a problem when demand is steady. It is, however, when demand fluctuates.
Perishability
Since the customer and the service provider interact to provide the service, the interaction must be controlled and constantly improved. (T or F)
True
Successful service companies focus their attention on both their customer and their employees.
True
Chain
- internal service quality
- satisfied and productive service employees
- greater service value
- satisfied and loyal customers
- healthy service profits and growth
It is a marketing by a service firm to train and effectively motivate its customer-contact employees and all the supporting service people to work as a team to provide customer satisfaction.
Internal Marketing
It is marketing by a service firm that
recognizes that perceived service quality depends heavily on the quality of buyer-seller interaction. The marketer cannot assume that they will satisfy the customer simply by providing good technical service.
Interactive Marketing
3 MAJOR MARKETING TASKS
- Competitive Differentiation
- Service Quality
- Service Productivity
This can occur by differentiating the offer, the delivery, and their
images.
Competitive Differentiation
By consistently delivering higher
quality than the competition, the firm can make progress in customer retention.
Service Quality
To have a good service system, the organization must:
a. empower front-line employees
b. be customer obsessed
c. set high service quality standards
d. watch service performance closely
