Chapter 09 - Chapter Nine Product, Services, and Brands:...

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Chapter 9 - slide 1 COMM 224 / DR. K. Büyükkurt Chapter Nine Product, Services, and Brands: Building Customer Value
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Chapter 9 - slide 2 COMM 224 / DR. K. Büyükkurt Decisions Regarding the Elements of the Marketing Mix (Designing Marketing Strategy) With Chapter 9 we begin to examine the elements of the marketing mix ( 4 P’s ): a) Product (Chapters 9 and 10) b) Pricing (Chapter 11) c) Place (Channel Decisions, Chapter 12) d) Promotion (Advertising, Sales Promotion, Public Relations, Personal Selling, Direct Marketing, and Integrated Marketing Communications: Chapters 14, 15, and 16) Considered jointly, the decisions concerning the above constitute the marketing strategy of a firm.
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Chapter 9 - slide 3 COMM 224 / DR. K. Büyükkurt Product, Services, and Branding Strategy Define product Major classifications of products and services. Discuss decisions regarding individual products and services, product lines, and product mixes. Discuss branding strategy Identify the four characteristics that affect the marketing of a service Objectives
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Chapter 9 - slide 4 COMM 224 / DR. K. Büyükkurt What is a Product? Take a cosmetic as an example. What is a cosmetic? A) Oils, chemicals, fragrances in a container? or B) An item with image, promise (“hope to be beautiful”), An item with specific ingredients, brand name, unique package and color, logo, . An item that expresses a life style and provides an opportunity for self-expression An item that has associations in consumers’ minds such as achievement, success, status, exclusivity, romance, passion, glamour, fantasy. Our definition includes services and experiences as products. Organizations, persons, places, and ideas may also be marketed as “Products”.
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Chapter 9 - slide 5 COMM 224 / DR. K. Büyükkurt Three Levels of Product Product designers need to think about products and services at three levels: Core product: – Problem solving services or benefits that consumers purchase the product for – “We want to produce holes, but we buy drills and bits.” “In the factory we make cosmetics, in the store we sell hope.” Actual product Augmented product Figure 10.1
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Chapter 9 - slide 6 COMM 224 / DR. K. Büyükkurt What Is a Product? Product and Service Classifications
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Chapter 9 - slide 7 COMM 224 / DR. K. Büyükkurt What Is a Product? Industrial products are products purchased for further processing or for use in conducting a business Classified by the purpose for which the product is purchased Materials and parts Capital Raw materials Product and Service Classifications
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Chapter 9 - slide 8 COMM 224 / DR. K. Büyükkurt Marketing Considerations for Types of Consumer Products: Table 9.1
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Chapter 9 - slide 9 COMM 224 / DR. K. Büyükkurt Person marketing consists of activities undertaken to create, maintain, or change attitudes and behaviour of target consumers toward particular people Organizations, Persons, Places, and Ideas as Products that are Marketed
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Chapter 09 - Chapter Nine Product, Services, and Brands:...

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