marketing - Chapter 10 Brand and Product Decisions in...

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Chapter 10 Brand and Product Decisions in Global Marketing Introduction to Brands and Products *Brand and product concepts *Local, international, and global brands *Product design issues *Attitudes toward foreign products *Strategic alternatives *New product issues Basic Product Concepts *A product is a good, service, or idea *Tangible attributes *Intangible attributes *Product classification *Consumer goods *Industrial goods Product Types *Buyer orientation *Amount of effort expended on purchase *Convenience *Preference *Shopping *Specialty Brands *Bundle of images and experiences in the customer’s mind *A promise made by a particular company about a particular product *A quality certification *Differentiation between competing products *The sum of impressions about a brand is the brand image Brands Brand Equity *The added value that accrues to a product as a result of investments in the marketing of the  brand *An asset that represents the value created by the relationship between the brand and customer  over time Local Products and Brands *Brands that have achieved success in a single national market *Represent the lifeblood of domestic companies *Entrenched local products/brands can be a significant competitive hurdle to global companies
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International Products and Brands *Offered in several markets in a particular region *Euro brands Global Products and Brands *Global products meet the wants and needs of a global market and are offered in all world  regions *Global brands have the same name  and similar image and positioning throughout the world Global Products and Brands A multinational has operations in different countries. A global company views the world as a single country. We know Argentina and France are different, but we treat them the same. We sell them the same products, we use the same production methods, we have the same corporate policies. We even use the same advertising—in a different language, of course. —Alfred Zeien Former Gillette CEO Global Brand Characteristics *Quality signal—allows a company to charge a premium price in a highly competitive market *Global myth—marketers can use global consumer culture positioning to link the brand identity  to any part of the world *Social responsibility—shows how a company addresses social problems Global Products and Brands *Global brands are not the same as global products *iPod = brand *Mp3 player=  product Branding Strategies *Combination or tiered branding allows marketers to leverage a company’s reputation while  developing a distinctive identity for a line of products *Sony Walkman *Co-branding features two or more company or product brands *NutraSweet and Coca-Cola *Intel Inside Brand Extension *Brand acts as an umbrella for new products
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This note was uploaded on 11/07/2010 for the course MKTG BA511 taught by Professor Dick during the Spring '10 term at Andrew Jackson.

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marketing - Chapter 10 Brand and Product Decisions in...

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