Description
PROJECT ON BRAND MANAGEMENT SERVICES
BRAND MANAGEMENT SERVICE
Design | Development | Marketing
WHAT IS A PRODUCT?
A product is any offering by a company to a market that serves to satisfy customer needs and wants. It can be an object, service, idea,etc.
Design | Development | Marketing
NEW PRODUCT DEVELOPMENT
Most new product development is an improvement on existing products Less than 10% of new products are totally new concepts.
Design | Development | Marketing
SUCCESS RATE OF NEW PRODUCTS
The success rate of new products is very low – less than 5%. ‘You have to kiss a lot of frogs to find a prince.” Product obsolescence is rapid with improvements in technology Shorter PLCs
Design | Development | Marketing
PRODUCT DEVELOPMENT STAGES
Idea generation Idea screening Concept development and testing Concept testing Conjoint analysis – to find out the best valued attributes by consumers
Design | Development | Marketing
BUSINESS ANALYSIS
The most customer appealing offer is not always the most profitable to make Estimate on costs, sales volumes,pricing and profit levels are made to find out the optimal price – volume mix. Breakeven and paybacks Discounted cash flow projections
Design | Development | Marketing
MARKET TESTING
Test markets Test periods What information to gather? What action to take?
Design | Development | Marketing
COMMERCIALIZATION
When? (Timing) Where? (Which geographical markets) To whom? (Target markets) How? (Introductory Marketing strategy)
Design | Development | Marketing
PRODUCT LEVELS
Customer value hierarchy Core benefit Basic product Expected product Augmented product Potential product
Design | Development | Marketing
CUSTOMER DELIGHT
When you exceed customer expectations
Design | Development | Marketing
PRODUCT HIERARCHY
Need Product family Product class Product Line Product type Brand Item
Design | Development | Marketing
PRODUCT CLASSIFICATION
Durable Non – durable Services
Design | Development | Marketing
CONSUMER GOODS CLASSIFICATION
Convenience goods Shopping goods Specialty goods Unsought goods
Design | Development | Marketing
INDUSTRIAL GOODS CLASSIFICATION
Materials and Parts - raw materials - manufactured materials and parts Capital items Supplies and business services
Design | Development | Marketing
PRODUCT MIX The assortment of products that a company offers to a market Width – how many different product lines? Length – the number of items in the product mix Depth – The no. of variants offered in a product line Consistency – how closely the product lines are related in usage
Design | Development | Marketing
PRODUCT LINE DECISIONS
Product rationalization Market rationalization Product line length too long – when profits increase by dropping a product in the line too short – when profits increase by adding products to the product line Line pruning – capacity restrictions to decide
Design | Development | Marketing
BRAND
A name becomes a brand when consumers associate it with a set of tangible and intangible benefits that they obtain from the product or service It is the seller’s promise to deliver the same bundle of benefits/services consistently to buyers
Design | Development | Marketing
BRAND EQUITY
When a commodity becomes a brand, it is said to have equity. The premium a brand can command in the market The difference between the perceived value and the intrinsic value
Design | Development | Marketing
LEVELS OF MEANING
Attributes Benefits Values Culture Personality Users
Design | Development | Marketing
BRAND POWER
Customer will change brands for price reasons Customer is satisfied. No reason to change. Customer is satisfied and would take pains to get the brand Customer values the brand and sees it as a friend Customer is devoted to the brand
Design | Development | Marketing
BRAND EQUITY – COMPETITIVE ADVANTAGES
Reduced marketing costs Trade leverage Can charge a higher price Can easily launch brand extensions Can take some price competition
Design | Development | Marketing
MANAGING BRAND EQUITY
Brand Equity needs to be nourished and replenished. We must not flog the brand for equity to be diluted or dissipated Store brands
Design | Development | Marketing
ADVANTAGES OF BRANDING
Easy for the seller to track down problems and process orders Provide legal protection of unique product features Branding gives an opportunity to attract loyal and profitable set of customers It helps to give a product category at different segments, having separate bundle of benefits It helps build corporate image It minimises harm to company reputation if the brand fails
Design | Development | Marketing
BRAND PARITY
Consumers buy from a set of acceptable/ preferred brands
Design | Development | Marketing
UMBRELLA BRAND
Products from different categories under one brand Dangerous to the brand if the principal brand fails Sometimes the company name is prefixed to the brand. In such cases the company name gives it legitimacy. The product name individualises it.
Design | Development | Marketing
NAMING THE BRAND
Product benefits Product qualities Easy to pronounce Should be distinctive Should not have poor meanings in other languages and countries
Design | Development | Marketing
BRAND STRATEGY
Line extension – existing brand name extended to new sizes in the existing product category Brand extension – brand name extended to new product categories Multibrands – new brands in the same product category New brands – new product in a different product category Cobrands –brands bearing two or more well known brand names
Design | Development | Marketing
BRAND REPOSITIONING
This may be required after a few years to face new competition and changing customer preferences
Design | Development | Marketing
PACKAGING
Includes the activities of designing and producing the container for a product Packaging is done at three levels - primary - secondary - shipping
Design | Development | Marketing
PACKAGING AS A MARKETING TOOL
Self service Consumer affluence Company and brand image innovation
Design | Development | Marketing
DESIGNING PACKAGING
Packaging concepts Technical specifications Engineering tests Visual tests Dealer tests Consumer tests Packaging innovations Environmental considerations
Design | Development | Marketing
LABELS
Identification Grade classification Description of product Manufacturer identity Date of mfg., batch no. Instructions for use Promotion
Design | Development | Marketing
LABELS AS A MARKETING TOOL
Labels need to change with time or packaging changes to give it a contemporary and fresh look
Design | Development | Marketing
CONTACT US
http://marketing.clicksbazaar.com/internet-reputation-managementhttp://clicksbazaar.com | [email protected]
Design | Development | Marketing
doc_617270994.ppt
PROJECT ON BRAND MANAGEMENT SERVICES
BRAND MANAGEMENT SERVICE
Design | Development | Marketing
WHAT IS A PRODUCT?
A product is any offering by a company to a market that serves to satisfy customer needs and wants. It can be an object, service, idea,etc.
Design | Development | Marketing
NEW PRODUCT DEVELOPMENT
Most new product development is an improvement on existing products Less than 10% of new products are totally new concepts.
Design | Development | Marketing
SUCCESS RATE OF NEW PRODUCTS
The success rate of new products is very low – less than 5%. ‘You have to kiss a lot of frogs to find a prince.” Product obsolescence is rapid with improvements in technology Shorter PLCs
Design | Development | Marketing
PRODUCT DEVELOPMENT STAGES
Idea generation Idea screening Concept development and testing Concept testing Conjoint analysis – to find out the best valued attributes by consumers
Design | Development | Marketing
BUSINESS ANALYSIS
The most customer appealing offer is not always the most profitable to make Estimate on costs, sales volumes,pricing and profit levels are made to find out the optimal price – volume mix. Breakeven and paybacks Discounted cash flow projections
Design | Development | Marketing
MARKET TESTING
Test markets Test periods What information to gather? What action to take?
Design | Development | Marketing
COMMERCIALIZATION
When? (Timing) Where? (Which geographical markets) To whom? (Target markets) How? (Introductory Marketing strategy)
Design | Development | Marketing
PRODUCT LEVELS
Customer value hierarchy Core benefit Basic product Expected product Augmented product Potential product
Design | Development | Marketing
CUSTOMER DELIGHT
When you exceed customer expectations
Design | Development | Marketing
PRODUCT HIERARCHY
Need Product family Product class Product Line Product type Brand Item
Design | Development | Marketing
PRODUCT CLASSIFICATION
Durable Non – durable Services
Design | Development | Marketing
CONSUMER GOODS CLASSIFICATION
Convenience goods Shopping goods Specialty goods Unsought goods
Design | Development | Marketing
INDUSTRIAL GOODS CLASSIFICATION
Materials and Parts - raw materials - manufactured materials and parts Capital items Supplies and business services
Design | Development | Marketing
PRODUCT MIX The assortment of products that a company offers to a market Width – how many different product lines? Length – the number of items in the product mix Depth – The no. of variants offered in a product line Consistency – how closely the product lines are related in usage
Design | Development | Marketing
PRODUCT LINE DECISIONS
Product rationalization Market rationalization Product line length too long – when profits increase by dropping a product in the line too short – when profits increase by adding products to the product line Line pruning – capacity restrictions to decide
Design | Development | Marketing
BRAND
A name becomes a brand when consumers associate it with a set of tangible and intangible benefits that they obtain from the product or service It is the seller’s promise to deliver the same bundle of benefits/services consistently to buyers
Design | Development | Marketing
BRAND EQUITY
When a commodity becomes a brand, it is said to have equity. The premium a brand can command in the market The difference between the perceived value and the intrinsic value
Design | Development | Marketing
LEVELS OF MEANING
Attributes Benefits Values Culture Personality Users
Design | Development | Marketing
BRAND POWER
Customer will change brands for price reasons Customer is satisfied. No reason to change. Customer is satisfied and would take pains to get the brand Customer values the brand and sees it as a friend Customer is devoted to the brand
Design | Development | Marketing
BRAND EQUITY – COMPETITIVE ADVANTAGES
Reduced marketing costs Trade leverage Can charge a higher price Can easily launch brand extensions Can take some price competition
Design | Development | Marketing
MANAGING BRAND EQUITY
Brand Equity needs to be nourished and replenished. We must not flog the brand for equity to be diluted or dissipated Store brands
Design | Development | Marketing
ADVANTAGES OF BRANDING
Easy for the seller to track down problems and process orders Provide legal protection of unique product features Branding gives an opportunity to attract loyal and profitable set of customers It helps to give a product category at different segments, having separate bundle of benefits It helps build corporate image It minimises harm to company reputation if the brand fails
Design | Development | Marketing
BRAND PARITY
Consumers buy from a set of acceptable/ preferred brands
Design | Development | Marketing
UMBRELLA BRAND
Products from different categories under one brand Dangerous to the brand if the principal brand fails Sometimes the company name is prefixed to the brand. In such cases the company name gives it legitimacy. The product name individualises it.
Design | Development | Marketing
NAMING THE BRAND
Product benefits Product qualities Easy to pronounce Should be distinctive Should not have poor meanings in other languages and countries
Design | Development | Marketing
BRAND STRATEGY
Line extension – existing brand name extended to new sizes in the existing product category Brand extension – brand name extended to new product categories Multibrands – new brands in the same product category New brands – new product in a different product category Cobrands –brands bearing two or more well known brand names
Design | Development | Marketing
BRAND REPOSITIONING
This may be required after a few years to face new competition and changing customer preferences
Design | Development | Marketing
PACKAGING
Includes the activities of designing and producing the container for a product Packaging is done at three levels - primary - secondary - shipping
Design | Development | Marketing
PACKAGING AS A MARKETING TOOL
Self service Consumer affluence Company and brand image innovation
Design | Development | Marketing
DESIGNING PACKAGING
Packaging concepts Technical specifications Engineering tests Visual tests Dealer tests Consumer tests Packaging innovations Environmental considerations
Design | Development | Marketing
LABELS
Identification Grade classification Description of product Manufacturer identity Date of mfg., batch no. Instructions for use Promotion
Design | Development | Marketing
LABELS AS A MARKETING TOOL
Labels need to change with time or packaging changes to give it a contemporary and fresh look
Design | Development | Marketing
CONTACT US
http://marketing.clicksbazaar.com/internet-reputation-managementhttp://clicksbazaar.com | [email protected]
Design | Development | Marketing
doc_617270994.ppt