Ch6_F11_sv(2) - MKT313 PersonalSelling&Buying Processes...

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Processes MKT 313 Product Strategy
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On to Product Strategy… Professional Selling Landscape
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Product Strategy Defined “The product strategy is a well-conceived plan that  emphasizes becoming a product expert, selling  benefits, and configuring value-added solutions.”
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Selling Solutions Mutually shared answers to recognized customer  problems More encompassing  than specific products Provide measurable  results Requires a greater  effort to define and                                              diagnose the                                        customer’s  problems
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Explosion of Product Options Domestic and global markets overflowing More than 30,000 consumer products turned out  each year The good news: buyers have a choice  The bad news: with more choices, buying process is  more complicated
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Buyers are increasingly informed Buyers … are looking for more than just information want salespeople to add value “trusted advisor” expect salespeople to have done their homework
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Knowledge Framework Customer  Industry  Competition
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         The Total Product Concept
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What is a Brand? A distinctive identity that differentiates a relevant,  enduring, and credible  promise of value  associated  with a product, service, or organization and indicates  the source of that promise. Not to be confused with Product: “Something that offers a functional  benefit”  (Farquhar, 1989) Or Elements: distinguishing name, sign, symbol, or design (or some  combination of them) that identifies the goods or services of one  seller .   HBR , July-Aug 1999. The fundamental character       (or culture) of a product
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Brand Is A Promise Of Value Holt, Douglas B. (2003), “Brands and Branding,” Harvard Business School. Reputation Value
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Ch6_F11_sv(2) - MKT313 PersonalSelling&Buying Processes...

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