Product & Brand Decisions Chapter 10

Both tangible and intangible product attributes are important: ___________ attributes: _________ attributes such as ___________, dimensions, and materials. _______________ attributes: i.e., status, reputation, and mystique. ____________________

Product Types Consumer or Industrial?????? ___________

__________________________: a name, term, symbol, design, or combination thereof that __________ a seller’s product and ______________ them from competitors’ products.

Brand __________________: a ___________ image about both the __________________ product and the company that markets it. It is the sum of _____________ about a product or brand that come from all information sources and cues. i.e., Company ________, _______ stories, Promotion activities, Advertising, etc.

Brand ______________________: the brand’s _________ to a company as an ___________________ asset. It represents the cumulative added _____________ of a company’s ______________ in the marketing of a brand _________________________.

Product The _____________ good and all of its ___________ and _________________ benefits.

Sokenbicha (___________): a noncarbonated ginseng flavored beverage __________ Products & Brands: A product & brand that has achieved success in a _______________ market Sokenbicha (___________): a noncarbonated ginseng flavored beverage

______________ Product They meet the wants and needs of a ______________ market. Products that can successfully be sold __________ the home country without ________________.

Global Product Advantages: ___________________________ with creating a single ad campaign. _____________________ cost savings Improved ____________________ Improved customer _______________

Global ________________ The _____ name and a ________ image and positioning throughout the world. Sony prior to 1980: Japan = “___________”; United Kingdom = “_______________”’ & U.S. = “__________________________” Note: The marketing lesson that was learned from the history of the Sony Walkman is: Having multiple local brand names can ______________________________.

Global Products vs Global Brands

___________________: two or more different company or product brands are featured prominently on product packaging &/or advertisements. i.e., Around the world various brands of computers are sold proclaiming “Intel Inside”.

Brand _________________: using an _______________ brand name as an ______________ when entering new businesses or developing new product lines. _____________

______________________ Brand: The brand name of a ________________________. i.e.,

______________ Brand: a brand name owned by a _________________ or a _______________________. i.e., Hunt Club (JCPenney), Sam’s American Choice (Wal-Mart).

Maslow’s Hierarchy of Needs:_____________ & (_______) _______________ (____________) ___________________ ________ (___________) _______ (____________) ____________ (____________) _____________ (______________)

Maslow’s hierarchy: Traditional & Asian Equivalent It is applicable to _________________ because it can help explain how __________ human needs can drive the development of global products. 1. ______________________ needs: requirements for _________, i.e., food, water, sex

2. __________: these include __________ and ______________ from physical and emotional pain and suffering. i.e., life insurance, carbon monoxide detectors, decay-fighting toothpaste. 3. ___________ (________________): human requirement for _________ and ____________ and a sense of belonging. i.e., ads for cosmetics and jewelry

4. Internal & External Esteem: self-____________, self-____________ and the ______________ of others. Admiration: satisfied through acts that ___________________ within a group. i.e., shopping at Neiman Marcus; owning a ________; or a __________ pen (Gillette Co.), that will serve the recipient as a __________________.

Status: esteem of ________ as a whole. 5. Self-Actualization (Status): these refer to people’s need to __________ and to ___________________. i.e., U.S. Army: “Be All That You Can Be” “___________________________________” Status: esteem of ________ as a whole. Nearly half of all sales revenues of ____________ are generated in Asia

_______________________ Effects Typically communicated by the phrase “_______________________ (country).” _____________ towards foreign products: i.e., the success of many imported beers in the U.S. “____________” segment. i.e., Made in Russia or Made in South Africa: ________________ country of origin bias.

Global Product Planning: ____________________________ ____________________ Strategy: it calls for marketing a ___________ product or using a standardized ____________________ approach in ________________ markets, or both.

________________ Strategy: involves __________________ ________________ of design, function, or packaging in response to ____________ or _______________________ in particular country markets.

Global Product Planning: Strategy Alt. _______________ ________________ Strategy 4 ________________ Different Communication Strategy 1 _______________ Strategy 3 ________________ Same Same Different Product

Strategy 1: Product-Communication Extension (Dual Extension) This is the ____________ product mkt. strategy and in many instances, the most ________ one. i.e., Gillette’s Sensor razor and “Best a ____________ Can Get”

Strategy 2: Product Extension- Communication Adaptation When a product fills a ____________ need, appeals to a different segment, or serves a different ______________ outside the home-country market. i.e., ______________ mixes that have long been popular in Europe are marketed as _______________ in the U.S.

Strategy 3: Product-Adaptation - Communication Extension Global product planning is to extend, _________________, the basic home-market communications strategy while _______________ the product to local use or preference conditions.

Strategy 4: Product-Communication Adaptation (Dual Adaptation) When environmental __________ or consumer preferences ________ and the same is true of the ___________________ a product serves or consumer receptivity to advertising appeals.

Generally speaking, which of the following product categories represents the best potential for extension into international markets without adaptation. A. food products B. intangible products C. industrial products D. companion products

New Product Ideas Continuous _______________: typically are “________________________” versions of ____________________ products & require less R&D expenditure. _____________________________ influence on established consumption patterns. i.e., The formulation, imagery, & consumer appeal of ___________________________ toothpaste was designed to translate across national boundaries.

____________ Continuous Innovation: ___________ disrupting influence on established consumption patterns. They ____________ certain features with earlier generation products while incorporating __________ features that offer ________________________.

The introduction of consumer _____________ in the late 1970s _________________ Innovation: an __________________ invention or innovation that requires a relatively large amount of _____________ on the part of the user. It typically creates __________ markets and ____________________ patterns. The introduction of consumer _____________ in the late 1970s

What type of innovation? Advanced Photo System ________________. _________________ Alternative for Pampers Iridium global satellite phone.

Testing New Products