Product Concepts: Lamb, Hair, Mcdaniel 2012-2013

1
Lamb, Hair, McDaniel

Chapter 10
Product
Concepts
2012-2013
2013 by Cengage Learning Inc. All Rights Reserved. 2
What Is a Product?
Everything, both favorable and
unfavorable, that a person receives in an
exchange.
Tangible Good
Service
Idea
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What do we receive in the following exchange?
Just as important are:

Service i.e. a restaurant

The sellers image i.e. LV

Manufacturers Reputation
i.e. BMW

Others perceptions i.e.
Fashion
2013 by Cengage Learning Inc. All Rights Reserved.
8
Types of Consumer Products
Unsought
Products
Specialty
Products
Shopping
Products
Convenience
Products
Consumer
Products
Business
Products
Products
9
Convenience Products
Relatively inexpensive item

Little shopping effort

Buy regularly without planning

Wide distributions

10
How can brand names
aid the consumption
of Convenience
products?
Recall and
Recognition

Perceived Quality

Familiarity and
Knowledge

11
Shopping Products
Usually more expensive and distributed in fewer stores
(specialty stores)

Compare of a number of alternatives style, practicality,
price etc

* Homogenous perceive all to
be similar ie microwaves,

* Heterogenous products are
different i.e. clothing

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May come down to consumers subjective
perceptions

Value may be INTANGIBLE

Shopping Products
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Specialty Products
Search extensively

Unlikely to accept substitutes

Often use status-conscious
promotions and limited distributions

Brand names important

14
Unsought Products
Unknown to the potential buyer

Buyer does not actively seek info

New products and innovations

Products consumers do not like to think
about

Company must go direct to them ie
personal selling, direct marketing etc

15
16
My Botto
Important to consider the business to
business (B2B) applications of the product, as
well as consumers
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Is MyBotto a:

Convenience Product

Shopping Product

Specialty Product

Unsought Product
Product Items,
Lines, and Mixes
Product Item
Product Line
Product Mix
A specific version of a product
that can be designated as a
distinct offering among an
organizations products.
A group of closely-related
product items.
All products that an
organization sells.
3
http://www.hyundai.com.au/?ppc=1&gclid=CLnevp3avbkCFUZyQgodNE
0Akg&gclid=CLnevp3avbkCFUZyQgodNE0Akg
Hyundai
Procter and Gamble
Benefits of Product Lines
Advertising economies

Package uniformity

Standardized components

Efficient sales and distribution

Equivalent quality
Adjustments
Product
Modification
Product
Repositioning
Product Line
Extension or
Contraction
Adjustments to
Product Items,
Lines, and Mixes
3
Product Modification
QUALITY modification

Change in the dependability or the durability

Trade off between price and quality benefits of reducing
either

Increased quality may result in brand loyalty, segmentation
opportunities, higher prices

FUNCTIONAL modification

Change in a products versatility, effectiveness
or convenience

Computers and computer technology have
undergone enormous functional modifications

STYLE modification

Aesthetic product change, rather than quality
or functional
Use modifications to encourage consumers to
purchase new versions
i.e. Cars, clothing, iPods

Product Repositioning
Apple
T20 Cricket
Hyundai Cars
Curtin University

How do you perceive these brands to have
been repositioned (in the minds of
consumers)
Branding
Brand
Name
Brand
Mark
Brand
Equity
That part of a brand that can be spoken,
including letters, words, and numbers
The elements of a brand that
cannot be spoken
The value of company and brand names
Global
Brand
A brand where at least a third of the
earnings come from outside its home
country
4
http://www.bing.com/videos
/search?q=value+of+brand
s&view=detail&mid=97E4F
FDD7148013F925497E4F
FDD7148013F9254&first=0
&FORM=NVPFVR
Brand Logos
Name the brand?
Eat Fresh
Im loving it
Finger lickin good
Have a break, have a .
Lifes good!
Keep calm and carry on
Make tomorrow better
http://www.youtube.com/wa
tch?v=FrHkKXFRbCI
Benefits of Branding
Product
Identification
Repeat Sales
New Product
Sales
4
Branding Strategies
Manufacturers
Brand
Private
Brand
The brand name of a
manufacturer.
A brand name owned by a
wholesaler or a retailer. Also
known as a private label or store
brand.
Captive
A brand manufactured by a third
party for exclusive retailer,
without evidence of a that
retailers affiliation.
4
Coles Private Label
Mercedes Captive Brand
Individual Brands Versus
Family Brands
Individual
Brand
Family
Brand
Using different brand
names for different
products.
Marketing several different
products under the same
brand name.
4
Cobranding
Ingredient
Branding
Cooperative
Branding
Complementary
Branding
Types of
Cobranding
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http://www.youtube.com/wa
tch?v=prImvDVHzTM
Apple and Intel
Trademarks
A Trademark is the exclusive right to
use a brand.
Many parts of a brand and associated
symbols qualify for trademark protection.

Trademark right comes from use rather than
registration.

To renew the trademark, the company must
prove use of the mark.

Rights continue for as long as the mark is
used.

Trademark law applies to the online world.
4
Coca-Cola Packaging
Functions of Packaging
Contain and Protect
Promote
Facilitate Storage, Use,
and Convenience
Facilitate Recycling
5
Global Issues in Packaging

Aesthetics

Global
Considerations
for Packaging

Climate
Considerations

Labeling
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Labeling
Persuasive labeling
Informational labeling

GREENWASHING
http://www.ifyoucare.com/
Global Issues in Branding

Adaptations &
Modifications

Global Options
for Branding
One Brand Name
Everywhere

Different Brand
Names in Different
Markets

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Product Warranties
Warranty
Express
Warranty
Implied
Warranty
A confirmation of the quality or
performance of a good or service.
A written guarantee.
An unwritten guarantee that the good
or service is fit for the purpose for
which it was sold.
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Product Concepts: Lamb, Hair, Mcdaniel 2012-2013

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