strategic brand mgt wk6a chp5-1

strategic brand mgt wk6a chp5-1 - v Strategic Brand M...

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v 12/08/2000 v Strategic Brand Management
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v 12/08/2000 Overview v Product Strategy v Pricing Strategy v Channel Strategy v Private Labels (bonus)
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v 12/08/2000 Developing Marketing Plans v Based on 4 P’s of marketing o Product, Place, Promotion, Price v Not every P may perfectly apply, but still…. .
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v 12/08/2000 Product Strategy Perceived Quality and Value v Perceived Quality Customers’ perception of the overall quality or superiority of a product or service relative to relevant alternatives and with respect to its intended purpose
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v 12/08/2000 Product Strategy Perceived Quality and Value v Need to understand what quality means to the customer o Perceived quality may be different from actual quality o Quality may be centered on a dimension the consumer does not think is important o Consumers rarely use all the information available to judge quality o Consumers may not know how to judge quality
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v 12/08/2000 Product Strategy Perceived Quality and Value v Perceived Quality o Performance o Features o Conformance quality o Reliability o Durability o Serviceability o Style and design
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v 12/08/2000 Product Strategy Perceived Quality and Value
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v 12/08/2000 Product Strategy Perceived Quality and Value
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v 12/08/2000 Product Strategy Perceived Quality and Value
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v 12/08/2000 Product Strategy Perceived Quality and Value v Quality Function Deployment (QFD) v Total Quality Management (TQM) o Quality must be perceived by customers o Quality must be reflected in every company activity, not just in company products o Quality requires total employee commitment o Quality requires high quality partners o Quality can always be improved o Etc.
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v 12/08/2000 Product Strategy Perceived Quality and Value v Quality Function Deployment (QFD) v Total Quality Management (TQM) v Warning: be aware of becoming myopic v “Answer:” Return on Quality (ROQ)
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v 12/08/2000 Product Strategy Perceived Quality and Value v Perceived Value Combination of quality and cost perceptions o monetary costs o opportunity cost of time, energy, and psychological involvement
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v 12/08/2000 Pricing Strategy What does price communicate?
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v 12/08/2000 Pricing Strategy Consumer Price Perceptions v Price 1. Economic costs 1. Quality signal
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strategic brand mgt wk6a chp5-1 - v Strategic Brand M...

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