LEARNING OBJECTVIVES LEARNING OUTCOMES

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Presentation transcript:

LEARNING OBJECTVIVES LEARNING OUTCOMES Appreciate the importance of brands as an aid to product trial and repeat purchase Understand the need to differentiate products LEARNING OUTCOMES Categories a number of products into their “type of brand” Suggest ways in which a business can differentiate their products

Name all the brands on the sheet. TASK 1 You have 1 minute Name all the brands on the sheet.

D A C B G H E F I K J

T A S K 1 Manchester United Coke Ford Adidas Body Shop X box Cadbury MSN Messenger Adidas Body Shop X box Cadbury Tesco Motorola Mc Donalds

Branding The adoption of image, name and features for a produce which makes it recognisable for the consumer . It distinguishes it from competitors

Branding Businesses with a strong brand will find it easier to gain repeat business and tempt customers with product trials

Discussion Point What image do you associate with: The Marks and Spencer's brand The George (Asda’s clothing range) How do the company's create this image What benefits do you think it brings them

GENERIC PRODUCTS

BRANDS

OWN BRAND PRODUCTS

BRANDED PRODUCTS Branded Product – A product that is and sold under the name of a specific businesses brand

TASK - Put the products into the correct category

Top 30 brands ($)millions

So, what are the benefits of branding? Greater customer awareness Premium Price So, what are the benefits of branding? Increased sales – repeat buying Customer loyalty

Product Range Businesses often sell a range of products to meet different customer needs but use the same branding.

Example of JVC Product Range

Volkswagen… Its product portfolio FOX POLO GOLF JETTA 10 basic models in 123 variants sold in the UK alone as at June 2006! BETTLE PASSAT PHAETON TOUAREG SHARAN TOURAN

Product Differentiation features Quality Advertising Design Packaging Price

How are mobile phones differentiated? Colours Quality of camera Radios Blue Tooth Price plans Touch screens / keypads

For the product you have been given, you are to consider how you could differentiate it for 3 different segments of the market – 5 mins: Examples of segments: Female Males Teenagers Professional business people Health conscious people OAPs Young families Young Children Socio economic grouping