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MARKETING MANAGEMENT12th edition
12 Setting Product
Strategy
Kotler Keller 12-2
Chapter Questions
• What are the characteristics of products and how can they be classified?
• How can companies differentiate products?• How can a company build and manage its
product mix and product lines?• How can companies combine products to create
strong co-brands or ingredient brands?• How can companies use packaging, labeling,
warranties, and guarantees as marketing tools?
12-3
At the heart of a great brand is a great product
12-4
Product
Anything that can be offered to a market to satisfy a want or need.
12-5
Figure 12.1 Components of the Market Offering
12-6
Figure 12.2 Five Product Levels
12-7
Product Classification Schemes
Durability
Use
Tangibility
12-8
Durability and Tangibility
Nondurablegoods
ServicesDurablegoods
12-9
Consumer Goods Classification
Convenience
Unsought
Shopping
Specialty
12-10
Industrial Goods Classification
Materials and parts
Supplies/ business services
Capital items
12-11
Product Differentiation
• Product form• Features• Performance• Conformance• Durability• Reliability• Reparability
• Style• Design• Ordering ease• Delivery• Installation• Customer training• Customer consulting• Maintenance
12-12
Dunkin’ Donuts’ Differentiation
12-13
Design Differentiation
12-14
Maintenance and Repair
12-15
The Product Hierarchy
Need family
Product family
Product class
Product line
Product type
Item
12-16
Product Systems and Mixes
• Product system• Product mix• Product assortment• Depth• Length• Width• Consistency
12-17
Product Line Analysis
Convenience items
Core product Staples
Specialties
12-18
Figure 12.3 Product-Item Contributions to a Product Line’s Total Sales and Profits
12-19
Figure 12.4 Product Map
12-20
Line Stretching
Down-Market Stretch
Up-Market Stretch
Two-Way Stretch
12-21
Line Filling
12-22
Product-Mix Pricing
• Product-line pricing• Optional-feature pricing• Captive-product pricing• Two-part pricing• By-product pricing• Product-bundling pricing
12-23
Product Line Pricing
12-24
Two-Part Pricing
12-25
Co-branding
12-26
Ingredient Branding
12-27
Packaging: The 5th P
All the activities of designing and producingthe container for a product.
12-28
Packaging has been influenced by…
Self-service
Consumer affluence
Company/brand image
Innovation opportunity
12-29
Innovations in Packaging
12-30
Functions of Labels
Identifies
Grades
Describes
Promotes
12-31
Warranties and Guarantees
12-32
Marketing Debate
With products, is it form or function?
Take a position:1. Product functionality is the key to brandsuccess.2. Product design is the key to brand success.