Product, Services, and Branding Strategy
Previewing the Concepts—Chapter Objectives
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 companies 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.
Discuss two additional product issues: socially responsible product decisions and
international product and services marketing.
In many ways, this chapter provides the information required to truly understand
marketing. It focuses on the definition of what products and services are, and it provides
details about branding.
After defining what a product is, the chapter goes on to detail the necessary attributes of
products and services, as well as the branding, packaging, labeling, and product support
decisions that marketers must make. There is information regarding product line and
product mix decisions, and how to effectively manage both.
The section on branding provides a description of brand equity and the steps a company
can take to build strong brands. Brand decisions such as positioning, name selection,
sponsorship, and brand development are illustrated through use of examples.
Services marketing is differentiated from product marketing in that services are
intangible, inseparable from the provider, highly variable, and perishable. As a result,
services marketers face additional challenges that product marketers do not. The service-
profit chain, which links service firm profits with employee and customer satisfaction,
has five key links that include internal service quality; satisfied and productive service
employees; greater service value; satisfied and loyal customers; and healthy service
profits and growth.
Finally, the social issues that affect product decisions are detailed, as well as the
requirements for international product and services marketing.