marketing chapter 33

marketing chapter 33 - Chapter 7 Product, Services, and...

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Chapter 7 Product, Services, and Branding Strategy Previewing the Concepts—Chapter Objectives 1. Define product and the major classifications of products and services. 2. Describe the decisions companies make regarding their individual products and services, product lines, and product mixes. 3. Discuss branding strategy—the decisions companies make in building and managing their brands. 4. Identify the four characteristics that affect the marketing of a service and the additional marketing considerations that services require. 5. Discuss two additional product issues: socially responsible product decisions and international product and services marketing. J UST THE B ASICS Chapter Overview 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. 156
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Chapter Outline 1. Introduction a. Everything about FIJI Water contributes to a “Taste of Paradise” brand experience—from its name, packaging, and label to the places that sell and serve it, to the celebrities that endorse it. Skillful marketing people build the brand’s ultra-chic image. b. Could any bottled water be worth $10 a bottle? Apparently so! FIJI is scrambling to keep up with surging demand. More and more people are buying into FIJI’s “Taste of Paradise” brand promise, despite the high price—or maybe because of it. Clearly, water is more that just water when FIJI sells it. c.
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This note was uploaded on 03/24/2012 for the course ECON 201 taught by Professor Kovak during the Winter '09 term at Air Force Academy.

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marketing chapter 33 - Chapter 7 Product, Services, and...

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