1. Product

2. Product The goods or services your business will provide
Brand – name, symbol, design used to identify a product
Package – physical container or wrapper that holds the product
Label – part of the package used to present information
All 3, especially branding serve as strategies for maintaining consumer loyalty

3. Branding Your promise to your customers
Tells them what they can expect from your products or services

4. Branding
The foundation of your brand is your logo

5. Expensive logos
1.28 Billion

6. 211 Million

7. Nike
$35.00

8. $0

9. Package

10. Label

11. Packaging/Labeling How does the package protect the product?
Withstand humidity, puncture, damage
How does the package protect the consumer?
Childproof, sealed tops, tamper proof
Contains the product (easy to carry)

12. Packaging/Labeling Identifies the product
Lists contents, distinguishes the product
Visibly promotes the product
Stands out, catchy slogan, product uses, refunds
McDonald’s market the packaging of its Happy Meal
Toy, book, imprint of puzzle or game

13. Packaging/Labeling
Give examples of how packaging make the product easy to use?
Cartons with spouts for easy pouring
Butter wrappers with marked measurements
Resealable bags

14. Packaging/Labeling Why use Paper and cardboard?
Inexpensive, lightweight, fairly strong, and easy to print on, recyclable, biodegradable
Why use cellophane (transparent paper) and plastic wrap?
See through package (meat)
Why use Glass to hold liquids?
Doesn’t leak or change its smell or taste

15. Packaging/Labeling Why use plastic? Why use aluminum?
Can be shaped into jars and bottles
Can be processed into sheets (used for toys, clothes, food products)
Won’t break
Why use aluminum?
Unbreakable, disposable, recyclable

16. Packaging and Labeling Trends
Clearly warn user of harmful effects
Recyclable
Must list all nutritional elements – not just the benefits

17. Packaging and Labeling Trends
79 year old Stella Liebeck
1992
$20,000
$800
$3 Million

18. Packaging and Labeling Trends
Warnings
A label on an electric razor for men warns: "Never use while sleeping.“
An electric skillet warns: "Caution: griddle surface may be hot during and after cooking.“
A label on a baby stroller warns: “Remove child before folding
A cardboard car sunshield that keeps sun off the dashboard warns, “Do not drive with sunshield in place”

19. Packaging and Labeling Trends
A 12-inch rack for storing compact disks warns: “Do not use as a ladder.”
A snow blower warns: “Do not use snow thrower on roof.”
A dishwasher carries this warning: “Do not allow children to play in the dishwasher.”
A brass fishing lure with a three-pronged hook on the end warns: “Harmful if swallowed

21. Selecting a product Generate ideas and sort out good from bad
Study potential costs and revenues
Develop the product and test market it
Introduce the product

22. Product Positioning
How consumers see your product compared to the competition’s product
Prestigious
Good bargain
Equal in quality to other products
Positioning can be achieved through quality, availability, pricing, and uses
Branding, packaging, and labeling also have an effect on positioning

23. Product Mix All of the products a company makes or sells
If offer multiple products, think about how they relate to one another
If reaching a single market, includes products that compliment each other
If reaching multiple markets, more diversified mix

24. Product Decisions What products should I manufacture or sell?
How will my products meet the needs of my target market?
What level of quality should my goods have?
How much inventory should I maintain?
How will my products be different from competitors?
What will my customer service policy be?