productbrand

8/7/2019 productbrand

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product


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PRODUCT?

Product must satisfy consumers needs,

wants, & desire

1. NEED:- commuting Dadar churchgate2. Want:- choose taxi to travel

3. Desire:- A/C car is an desire


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WHAT IS A PRODUCT?

A product is anything that can be

offered to a market for Attention,

Acquistion, use or Consumption thatmight satisfy a want or need

Physical product:- zerox, Automobile,

ref. (Tangible)

Services:- courier , hospital,& hotel

(intangible)


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Product that are marketed include

Physical goods Automobile , books

Service Haircut, hotel, airlines

Person Sachin tendulkar,

Places Hawai

Organization American heart asso.

ideas Family planning, safe

driving


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Product component

Physical product

Or Functional Features

PriceQuality

packaging

Design feature

Style

Repairs & maintenance

Spare parts

Support service

component

Package

component


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Example of hotel

Core benefit:

In hotel night guest is buying Rest & Sleep

In drill, purchasing agent is buying Holes

Generic product: the marketer has to turn the

core benefit into generic product

Eg:-Hotel consists of bldg with Rooms & Rent

Expected product: set of attributes & conditions

that buyers normally expect & agree to whenthey purchase the product

Eg:-hotel guest expect a clean bed, soap &

towel


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Life insurance Need family : The core need

Security Product family: that can satisfy core need

Savings & income

Product class: a product within the product fly

Financial instrument Product line: a group of product within product class

Life insurance

Product type: those items within a product line that

shares one of several forms of product Term life

Brand: the name associated with one or more items inthe product line

prudential


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Product component

Physical characteristic or attribute are least

important because:-

1. Many products are simple

2. Service are simple

Difference are the perceived based on the Ability offirm to reflect some other qualities in its product or

services.

This usually entails the packaging or support

service component.

Customerbuying 2 wheelerbike does not buy

only for traveling purpose but with other hope.


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Consumers visualize image that are

different fm competitive product

Eg:-

Hero Honda Fuel Efficiency

YamahaHigh power & pick up

Kawasaki..High pick-up & sleek model

TVSSuzuki...Good value for money

smooth & troublefree

In addition to the packaging component support

service can also be used to reflect differences

in product & service


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Scope of product management

Product management look in marketing plan

3 cs i.e customer, company, competitor

Product planning & development Product life cycle

Brand planning / building


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In addition to the packaging

component , support service can

also be used to reflect difference inproduct and service.

These component makes the

product concept.


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objective

1. Design product strategy with respect tocustomer & competitor

2. To spot market opportunity

3. To seek growth thru new product development4. To plan strategy at each PLC

5. To consolidate the existing product

6. To push brand position.create brand,differentiation brand equity


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BRAND


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Brand

Brand is a combination of features

(what product is)

Customer benefit (the need & wants,the product need & value)

What the customer associate in the

product


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What does Product / Brand do?

PRODUCT: satisfyneeds,wants,& desire

BRAND: Forge a relation withconsumer & product

Adds value to product

Creates differentiation fmsimilar product.


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EXAMPLE

SOFT DRINK

PEPSI COKE THUMS-UP

YOUTH YOUTH YOUTH

YOUTH & MATURE

Tendulkar / Amitabh

Fun & entertainment

Thunda

Adult youth

Adventure

Grow up with

Thums-up

Perception & belief

Brand adds value to the product

Creates diff. Fm similar product


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How Brand plays a important role?

1. It helps to make efficient choice

fm alternative

2. The features, benefits, & valuethat brand offer are immediately

recognize3. The brand simplify consumer

decision making


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What brand can do?

Brands helps creates association in mind that

act as description

1. What it is?

2. What it does?

It provides entry barrier in that category

Thru time & use it becomes viable asset

Eg:- (Godrej Quality / safety)


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What are Brand?

Who am I ?

What do I do for you ?

What do I mean to you ?

How do I stand upon ?

1. Lifebuoy

2. Killing germs

3. Protects yourbody

4. Body odour


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saffola

Who am I? What do I do for you?

What do I mean to you?

What do I stand upon? I am a cooking oil

Reduce fight cholesterol & keep you healthy

Assurance of good health

Only 100% kardi oil in the market 1st & only

cooking oil for heart cholesterol related

problem


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What makes an outstanding brand

Outstanding brands havecharacteristics which are

built through carefulplanning and meticulous

nurturing over a period of

time


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There are ground rules that can enable

any marketer to build great brands

1. Credibility

2. Distinctiveness

3. Value

4. Contemporary

5. Trust

6. Association

7. Depiction


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credibility A brand is outstanding when the usercan relate to it.

The brand assumes the status of friend or a close relativewith whom the user shares a close bond

Positioning of the brand reflects the thougths, values &aspirations of the user

Eg:-Fair & lovely

embodies the dreams & aspirations of every young women She wants to be admired

She wants to be successful & highly regarded by the society

Eg:- Raymond

Shows middle aged man playing with his daughter or puppies

Eg:- Surf brand (with Lalitaji testimonial)

Explain how conscientious housewife makes purchases forher family

There was an instinct credibility established with the millionsof the housewives across India.


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Distinctiveness Distinct in form of:-

1. Communication2. Value proposition

3. Customer interaction

Eg:- Barista is no ordinary coffee shop

Place known for distinctive Dcor, ambience &innovative menu

This enables to charge premium over ordinarycoffee

Eg:- Britannia

Distinctive taste, packaging, communication (use offun & intrigue in advertisement)

New log & punch line Eat healthy, think betterSecret influence


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Value

Holds high value for the users

US Cigarette brand Camel

1. I d walk a mile for camel

2. Holds a high value for user, that they do not mind

going to any length to acquire it. Onida: image of high value TV showing that

neighbors would envy you if you owned the brand.

ADD Pen: Advertisement, school boy ask for add

gel refill unwilling to accept substitute.

Enhance the value of add Gel brand

Attribute can be used as an effective weapon to fight

counterfeiting of genuine brand.


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Contemporary (modern in style) An outstanding brand offers continued relevance

With the passage if time, the positioning of the brand comesunder threat DUE to changing social, environmental andtechnological changes.

Great brands reinvent an rejuvenate themselves

Eg:- Coca cola earlier known for headache, smartly

repositioned as a refreshment drink1. Uses cricketers, film stars to promote brands

2. All these endorsers are very contemporary and instantlymake impact with the target segment.

Eg:- LUX: using reigning silver screen heroines

1. To ensure that the brand is regarded as contemporary by thetarget segment

Eg:- Lifebuoy: was rejuvenated with a new formulation,packaging, positioning and started attacking a more attractivetarget segment.

1. Value proposition was changed toG

erm Fighting fromhealth


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Trust An outstanding brand is trustworthy and users are

assured that the brand will keep the promise it hasmade.

Eg:- ICICIhum hai na

1.It is an assurance to customers that the bank isempathetic to their needs and demands.

Eg:- Garnier & Lakme

1. Brand of facial cream needs to be trustworthy

enough to ensure that women do not fear damageto their skin when it is applied

2. The brand has to win the trust of users by

consistently keeping its promise.


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Association

An outstanding brand always ensures that it

has a right association

It keeps the right company and is not seen in

bad company

EG:- number of award functions are

sponsored by certain brands.

Eg:- LG & Samsung ensures that they

sponsor sports tournament that are of highestclass and are highly regarded by the audience


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Depiction (describe)

An outstanding brand is depictedin an attractive manner. This

include logo, colors, graphics,

layout of advertisment, packaging

, posters etc.

productbrand

Documents

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