: a set of human characteristics associated with the brand 16. Brand licensing : A agreement whereby one company allows its brand name or trademark to be used with products or services offered by another company for a royalty or fee. 17. Criteria for Picking a good brand name 18. Brand extension : The use of a current brand name to enter a completely different product class 19. Line extension: The use of a current brand to enter a new market segment in its product class 20. Branding strategies (fig. 10-6) Multiproduct branding : A branding strategy in which a company uses one name for all its products in a product class. 8
21. Packaging and labeling challenges and responses The continuing need to connect with customers Environmental concerns Health, safety, and security issues Cost reduction 22. Benefits of packaging Communication benefits Functional benefits: convenience, protection, storage Perceptual benefits 23. 7 P’S of services marketing Product (service ) o Branding Pricing o Affect consumer perceptions o To be used in capacity management Peak and off-peak pricing Place (distribution) Promotion People o Internal Marketing o Customer Experience Management (CEM) Physical environment –includes all the tangibles surrounds the services Process – refers to the actual procedures, mechanisms, and flow of activities by which the service is created and delivered 9
Chapter 11 – Pricing Products and Services 1. Different names for price and definition of price Price is the money or other consideration (including other goods and services) exchanged for the ownership or use of a good or service.
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