5_Brand_Products - Product Brand Krzysztof Chmielewski...

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Product/ Brand Krzysztof Chmielewski Department of Marketing [email protected]
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Agenda 1 Anatomy of a Product 2 Product Lifecycle 3 Product Mix 4 Brand 5 Developing existing brands 6 Brand names 7 Logo
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What is a Product head2right a product is a physical good, service, idea, person or place that is capable of offering tangible and intangible attributes that individuals or organizations regard as so necessary, worthwhile or satisfying that they are prepared to exchange money, patronage or some other unit of value in order to acquire it
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Different products
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Anatomy of a product (example from the car market) Potential Augmented Expected Where value is added Beyond quality and reliability to customised cars and … ? Core What the customer expects Today’s customer expects quality and reliability that yesterday’s customer could only dream about What the customer buys We have moved on from the days of Henry Ford “Any colour you like as long as it’s black”
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Anatomy of a product - financial services II
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Product classification Durable products (last for many years and over a long period) Non-durable products (used once or a few times) Service products (intangible products comprising things which are not embodied in physical goods)
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Characteristics of Service Markets Intangibility Intangibility Intangibility Lack of Perishability Service Product Intangibility Intangibility Inseparability Heterogeneity ownership
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Special characteristics of Service Markets I Lack of ownership (no goods change hands, therefore no transfer of ownership or anything) Intangibility (difficult to use senses like touch, smell etc.) Perishability (service cannot be manufactured and stored either before or after the experience)
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Special characteristics of Service Markets II Inseparability (customer often comes into direct contact with the service provider) Heterogeneity (service experience is likely to be different and it is difficult to standardize the service experience)
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