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Chapter 14 - Chapter 14 THE MARKETING INSTRUMENTS Oxford...

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Chapter 11: Strategic Leadership Chapter 14 © Oxford University Press Southern Africa, 2008. All rights reserved. THE MARKETING INSTRUMENTS
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Chapter 11: Strategic Leadership CHAPTER CONTENT Opening case: New Balance Introduction The key to the market Product decisions Price decisions Distribution decisions Marketing communication decisions © Oxford University Press Southern Africa, 2008. All rights reserved.
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Chapter 11: Strategic Leadership THE KEY TO THE MARKET
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Chapter 11: Strategic Leadership PRODUCT DECISIONS A product is described as a composition of tangible and intangible need-satisfying utilities offered to consumers by a business, so that the consumers can take note of them, procure them, and use them. A consumer product consists of the: Core product Formal product Need-satisfying product Product image Total product
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Chapter 11: Strategic Leadership CLASSIFICATION OF CONSUMER PRODUCTS Consumer products are intended for immediate use by households or consumers. We can distinguish between durable and non-durable consumer products Consumer products can be classified according to consumer buying habits: Convenience products (milk, sweets) Shopping products (clothes, furniture) Specialty products (expensive cameras, luxury items)
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Chapter 11: Strategic Leadership THE MEANING OF BRANDS A brand is a mark that is unique to the product items or ranges produced and marketed by a particular business and that is chosen to distinguish them from similar competing products. The brand name is a word, a letter or a group of words (KFC or Samsung). Brands offer many advantages from both the consumer and marketers perspective.
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Chapter 11: Strategic Leadership BRAND LOYALTY Brand loyalty occurs when consumers show a loyalty to a certain brand. Three phases of loyalty can be identified: Brand recognition Brand preference Brand insistence Brand loyalty is the result of building and maintaining a long-term relationship with the customer.
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Chapter 11: Strategic Leadership MANUFACTURER, DEALER OR GENERIC BRANDS
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