Product Mix Decisions and Branding
Product Mix Decisions and Branding
Product Mix Decisions and Branding
Marketing Concepts
Product - function, appearance, packaging, service, warranty, etc Price - list price, discounts, financing, and other options such as leasing Place (distribution) - market coverage, channel member selection, logistics, and levels
of service
Product
Place
Target Market
Price
Promotion
Product
Anything that can be offered to a market to satisfy a want or need Physical goods Services Experiences Events Persons Places Properties Organizations Information Ideas
Product Levels
Marketer has to turn core benefit into basic product Bank accounts like savings account, current account Encompasses all possible augmentation and transformations The the product might undergo in future fundamental service or product the customer is buying Anywhere banking, ATM sharing, CRM In a priority banking, portfolio management bank the customer is looking for security of his money
A product that exceeds customer expectations A set of attributes and conditions the buyers A bank can offer facilities like ATM/Debit expect when they buy the product cards, Telebanking, Internet Banking and The bank customer would expect a cheque book, also other financial services locker and other deposit products like FD, RD
Product hierarchy
Stretches from basic needs to particular items that satisfy those needs (Audio System) Need family entertainment Product family audio entertainment Product class audio systems Product line stereos, mini systems Product type basic, mid range, premium Brand Phillips PowerHouse Item (product variant) V220
Product Mix
Product mix has a certain
Width Length
Depth
Consistency
Case Study
Product-Mix Width and Product-Line Length for PepsiCo India Product-Mix Width Beverages Pepsi Mountain Dew Aquafina Mirinda 7-Up Dukes Soda Dukes Mangola Slice Juice Tropicana Orange Nature Sweet Apple Grape Pineapple Tomato Mixed Fruit Snacks Lays Cheetos Lehar Numkeens Nutyumz Kurkure
Product-line Length
Case Study
The Times Group
Net
Entertainment
Retail
GROUP SITES
Times Music
Radio Mirchi MT Mumbai Times
Planet M
Collapse
Cutting the deadwood 2. GROSS MARGIN, SALES & PROMOTION a. Core Product
b. Staples
c. Specialties d. Convenience items
1. Line Stretching
a. Down market Stretch b. Up market Stretch c. Two way stretch
2. Line Filling
Just-noticeable difference
Branding
Definition: A brand is a name, Term, Sign, Symbol, Brand or combination of them intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors. - American Marketing Association
Whether to use Line extensions, Brand Extensions, Multi Brands, New Brands or Cobrands
Brand Equity
Brand awareness Brand acceptability Brand preference
Five levels of customer attitude:
The customer will change brands, especially for price reasons. No brand loyalty. Customer is satisfied. No reason to change brands. Customer is satisfied and would incur cost by changing brand. Customer values the brand and sees it as a friend. Customer is devoted to the brand.
Case Study
THE BRAND NAME - HCL INFINITI
PAST:
Previously known as The Calculator Company. Started its operation 28 years ago. Decided to put brand name on the self manufactured P.Cs as: HCL-Infiniti Tied up with HP for their servers.The brand name was modified to HCL-HP Corporate decision to break the tie up with HP
BRAND EXTENSION
HCL-Infiniti range of servers launched under the flagship of HCL Infiniti Brand name. HCL-Infiniti range of both managed and unmanaged switches launched again branded as HCL-Infiniti. Active and Passive components in networking launched and branded as HCLInfiniti Storage hardware as JBOD launched under HCL Brand name.
BRAND REPOSITIONING HCL Infiniti Challenger (Workstation) repositioned in high end graphics market for video streaming and CAD/CAM applications. HCL-Infiniti Strata Z (Vertical and Horizontal Mount slimline P.Cs) repositioned in corporate segment.
BRAND QUALITY DECISION Quality Improvement: ISO 9001:2000 Quality is continuously improved by our H.O. Product team and R&D Centre. Quality Maintenance: Quality of all the HCL manufactured products is maintained under strict QC norms as Drop Test,Rigorous tests, etc.
Thank you