BUSI 406_Feb 22

BUSI 406_Feb 22 - Product and Branding Strategy BUSI 406...

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Product and Branding Strategy BUSI 406 Session 12 Feb 22 2010
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7-2 BUSI 406 Spring 2010 Define  product  and the major classifications  of products and services. Describe the decisions companies make  regarding their individual products and  services, product lines, and product mixes. Discuss branding strategy—the decisions  firms make in building and managing their  brands. Identify the four characteristics that affect  the marketing of a service and the  additional marketing considerations that  services require. Rest Stop:   Previewing the Concepts
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7-3 BUSI 406 Spring 2010 What Is a Product? Anything that can be offered to a market for attention,  acquisition, use, or consumption and that might satisfy a  want or need. Includes physical objects, services, events, persons, places,  organizations, ideas, or some combination thereof. What Is a Service? ny activity or benefit that one party can offer to another  that is essentially intangible and does not result in the  ownership of anything. E.g.,  banking, hotel, airline, retail, tax preparation, home repairs.
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7-4 BUSI 406 Spring 2010 Total Product Concept What the consumer is buying Brand name, features, design, packaging and quality Delivery, credit, instructions, installation, warranty and service
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7-5 BUSI 406 Spring 2010 Types of Products  Industrial Industrial – materials and parts, capital items, supplies and  services Consumer Convenience – frequent, low price, mass advertising and  availability – candy, soda selling, selective distribution – clothing, electronics, cars exclusive distribution – Rolex, Lamborghini Unsought – little product awareness, negative interest, requires  aggressive advertising- insurance, blood donation
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BUSI 406 Spring 2010 Other Market Offerings Organization:  Profit (businesses) and nonprofit (schools and  churches) Person:  Politicians, entertainers, sports figures, doctors, and  lawyers Place:  Create, maintain, or change attitudes or behavior  toward particular places (e.g., tourism)
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BUSI 406_Feb 22 - Product and Branding Strategy BUSI 406...

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