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MARKETING MANAGEMENT 14th edition
12 Setting Product Strategy Kotler Keller
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At the heart of a great brand is a great product
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Anything that can be offered to a market to
Product Anything that can be offered to a market to satisfy a want or need.
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Levels of Product Core Benefit or Augmented Product Installation
Brand Name Quality Level Packaging Design Features Delivery & Credit Installation Warranty After- Sale Service Core Benefit or Actual Product Core Product Augmented Product
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Product Classification Schemes
Durability Tangibility Use
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Durability and Tangibility
Nondurable goods Durable goods Services
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Product Classifications Consumer Products
Convenience Products Buy frequently & immediately Low priced Mass advertising Many purchase locations i.e Candy, newspapers Shopping Products Buy less frequently Higher price Fewer purchase locations Comparison shop i.e Clothing, appliances Specialty Products Special purchase efforts High price Unique characteristics Brand identification Few purchase locations i.e can be anything Unsought Products New innovations Products consumers don’t want to think about these products Require much advertising & personal selling i.e Life insurance, blood donation
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Industrial Goods Classification
Materials and parts Capital items Supplies/ business services
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Product Differentiation
Style Design Ordering ease Delivery Installation Customer training Customer consulting Maintenance Product form Features Performance Conformance Durability Reliability Reparability
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The Product Hierarchy Item Product type Product line Product class
Product family Need family
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The Product Hierarchy Product line A group of products that are closely related because they may: function in a similar manner be sold to the same customer groups, be marketed through the same types of outlets fall within given price ranges Product line length Line stretching: adding products that are higher or lower priced than the existing line Line filling: adding more items within the present price range
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The Product Hierarchy Product mix Also known as product assortment
Consists of all the product lines and items that a particular seller offers for sale Product mix width: Number of different product lines carried by company Product line/mix depth: Number of different versions of each product in the line Product mix consistency
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Line Stretching Down-Market Stretch Up-Market Stretch Two-Way Stretch
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Line Filling
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Packaging: The 5th P All the activities of designing and producing
the container for a product.
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Packaging has been influenced by…
Self-service Consumer affluence Company/brand image Innovation opportunity
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Innovations in Packaging
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Functions of Labels Identifies Grades Describes Promotes
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MARKETING MANAGEMENT 14th edition
13 Designing and Managing Services Kotler Keller
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Service Any act of performance that one
party can offer another that is essentially intangible and does not result in the ownership of anything; its production may or may not be tied to a physical product.
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Service Sectors Private Government nonprofit Business Retail
Manufacturing
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Categories of Service Mix
Pure tangible good Good w/ accompanying services Hybrid Service w/ accompanying goods Pure service
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Continuum of Evaluation for Different Types of Products
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Nature and Characteristic of a Service
Intangibility Inseparability Can’t be seen, tasted, felt, heard, or smelled before purchase. Can’t be separated from service providers. Quality depends on who provides them and when, where and how. Can’t be stored for later sale or use. Variability Perishability
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Physical Evidence and Presentation
Place People Equipment Communication material Symbols Price
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How to Increase Quality Control
Invest in good hiring and training procedures Standardize the service-performance process Monitor customer satisfaction
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Matching Demand and Supply
Demand side Differential pricing Nonpeak demand Complementary services Reservation systems Supply side Part-time employees Peak-time efficiency Increased consumer participation Shared services Facilities for future expansion
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Service-Quality Model
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Determinants of Service Quality
Reliability Responsiveness Assurance Empathy Tangibles
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MARKETING MANAGEMENT 14th edition
9 Creating Brand Equity Kotler Keller
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Brand A name, term, sign, symbol or design, or a combination of them,
intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.
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The Role of Brands Identify the maker Simplify product handling
Organize accounting Offer legal protection
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The Role of Brands Signify quality Create barriers to entry
Serve as a competitive advantage Secure price premium
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Marketing Advantages of Strong Brands
Improved perceptions of product performance Greater loyalty Less vulnerable to competition Less vulnerable to crises Larger margins Inelastic consumer response to price increases Elastic consumer response to price decreases Greater trade cooperation Increase in effectiveness of IMC Licensing opportunities Brand extension opportunities
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Brand Promise The marketer’s vision of what
the brand must be and do for Consumers. Click on the video icon to view a clip about Starbucks’ brand.
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Brand Elements Brand names URLs Slogans Elements Logos Characters
Symbols
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Brand Elements
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Brand Elements Companies often create product icons to develop an identity for their products. Many made-up creatures and personalities, such as Çelik (and now Çeliknaz), Sütaş İnek and Yumoş Ayı, are widely recognized figures in popular culture.
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Brand Element Choice Criteria
Memorable Meaningful Likeability Transferable Adaptable Protectible
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Slogans Like a good neighbor, State Farm is there Just do it
Nothing runs like a Deere Help is just around the corner Save 15% or more in 15 minutes or less We try harder We’ll pick you up Nextel – Done Zoom Zoom I’m lovin’ it Innovation at work This Bud’s for you Always low prices
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Slogans Adını unutabilirsiniz, tadını asla! “Hayaaaatın tadıııı!”
Farkı, fiyatı! Yok aslında birbirimizden farkımız, ama biz Osmanlı Bankası’yız. Ne biçim lastik buuu? Honda, hayat onda. Çakar çakmaz çakan çakmak. Bira bu kapağın altındadır. Citroen gelir, hayat değişir. Türkiye’nin motosikleti. Erkek sünnet olur, askerlik yapar, Permatik kullanır! Philips hayatımızı kolaylaştıracak. Kirlenmek güzeldir. Tefal, ne varsa sende var. Arçelik demek yenilik demek. Kalebodur, seramik budur.
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Brand Equity The differential effect that brand
knowledge has on consumer response to the marketing of that brand.
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The 10 Most Valuable Brands (Source: Millward Brown)
2011 Brand Value (Billions) Apple $153 Google $115 IBM $101 McDonalds $78 CocaCola AT&T Marlboro $74 $70 $68 China Mobile $57 GE $50 ICBC $44
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Arçelik New Refrigerators
Four Brand Strategies Line Extension Arçelik New Refrigerators Multibrands Arçelik - Beko Brand Extension Arçelik TV-A/C New Brands OYAK - Tukaş Brand Name Existing New Product Category
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MARKETING MANAGEMENT 14th edition
20 Introducing New Market Offerings Kotler Keller
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Categories of New Products
New-to-the-world New product lines Additions Improvements Repositionings Cost reductions
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The New Product-Development Decision Process
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Consumer-Adoption Process
Adoption is an individual’s decision to become a regular user of a product.
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Stages in the Adoption Process
Awareness Interest Evaluation Trial Adoption
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Adopter Categorization
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Characteristics of an Innovation
Relative advantage Compatibility Complexity Divisibility Communicability
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