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    POM CYS-Chapter 6

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    POM CYS-Chapter 6

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    something uni

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    6. POM CYS-Chapter 6

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    something uni

    Copyright:

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    Download as pptx, pdf, or txt
    2 views22 pages

    POM CYS-Chapter 6

    Uploaded by

    duaarif3282
    something uni

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 22

    Chapter 6

    Products, Services, and Brands


    Building Customer Value

    Principles of Marketing
    by Philip Kotler and Gary Armstrong
    PEARSON
    What Is a Product?
    Product anything offered to a market for
    attention, acquisition, use or consumption
    Which satisfy a want or need
    Nike+ offers Nike Coach
    Provides advice and training routines
    To help prepare for competitive races
    Nike remains the world’s largest sports apparel
    company
    NIKE: Building Deep-Down
    Brand-Customer Relationships
    Services
     A form of product
     Consists of activities, benefits, or satisfactions
    offered for sales that are essentially intangible
     Do not result in the ownership of anything
    Products, Services, and Experiences
     Products are a key element in the overall market offering.
     Marketing mix planning begins with building an offering
    that brings value to target customers.
     This offering becomes the basis on which the company
    builds profitable customer relationships.

    • Today, as products and services become more commoditized, many


    companies are moving to a new level in creating value for their
    customers.
    • To differentiate their offers, beyond simply making products and
    delivering services, they are creating and managing customer
    experiences with their brands or company.
    Experiences

    “Third place”—away from home and away from


    work
    Experiences
    Levels of Product and Services

    Product planners need to think about products


    and services on three levels.
    Most basic level ─ core customer
    What is the buyer really buying?

    Second level ─ actual product

    They need to develop product and service features, a design,


    a quality level, a brand name, and packaging.

    Third level ─ augmented product


    Around the core benefit and actual product by offering
    additional consumer services and benefits
    Three Levels of Product

     1. What is the buyer really buying?


     Problem-solving benefits
     2. Turn core benefit into an actual
    product
     3. Offering additional consumer services
    and benefits
    Product and Service Classifications

    Two
    classes

    Consumer Industrial
    products products
    Individual Product and Service
    Decisions

    Fig 8.2
    Product Quality
    Performance Quality----the product’s ability to
    perform its functions
    “Quality is when our customers come back and
    our products don’t”-Siemens company

    Conformance quality----freedom from defects


    and consistency in delivering a targeted level of
    performance.
    High levels of quality consistency
    All companies should strive for high levels of
    conformance quality
    Product Features competitive tool for
    differentiating
    Features that customers value highly
    Should be added
    Product Style –appearance of product
    Can be eye-catching
    DESIGN
    Design- it is a larger concept than style
    It begins with observing customers,
    Deeply understanding their needs
    Shaping their product-use experience
    Good design contributes to a product’s usefulness
    as well as to its looks
    Branding
    Name, term, sign, symbol, or design or a combination
    of these
    Defines the maker or seller of the product
    Branding can add value to the customer’s purchase
    Branding help sellers to segment markets
    Example: Toyota
    CAMRY

    Corolla

    Lexus
    Packaging
    Hold and protect the product
    Brand positioning
    Create immediate consumer recognition
    Over-packaging creates waste
    Environmentally responsible
    Packaging
    Branding
     A name, term, sign, symbol, or design, or a combination of
    these,
     Differentiates them from those of competitors
     Help consumers identify products that might benefit them
     Brands also say something about product quality and
    consistency ─ buyers who always buy the same brand know
    that they will get the same features, benefits, and quality each
    time they buy
    Building Strong Brands

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