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Kazi Adeeb Hasan
Id no. 10111101068
   23rd Intake (2)




                     presents…
A Presentation
            On


Products, Services and Brands:
   Building Customer Value
INTRODUCTION

The marketing process of creating value for
customers and build customer relationships to
capture value from customers in return is performed
by satisfying customers with various types of
products, services and brands.
What Is a Product?
       Products, Services, and Experiences
 Product is anything that can be offered in a market
  for attention, acquisition, use, or consumption that
  might satisfy a need or want
• Soap
• Toothpaste
What Is a Product?
       Products, Services, and Experiences
 Service is a form of product that consists of
  activities, benefits, or satisfactions offered for sale
  that are essentially intangible and do not result in
  ownership
• Doctor’s exam
• Financial services
What Is a Product?
       Products, Services, and Experiences
 Experiences represent what buying the product or
  service will do for the customer
• Disney
• American Girl
• Toys “R” Us
What Is a Product?
           Levels of Product & Services
 basic level is the core customer value. It represents
  what the buyer is really buying
 Second level is turning the core benefits into an
  actual product. It represents the design, brand
  name, and packaging that delivers the core benefit to
  the customer
 In the third stage building an augmented product by
  offering additional consumer services and benefits
Three Levels of Product

                     Augmented product

Delivery                                              After
 and                   Actual product                 sale
credit                                               service
           Brand                         Features
           name            Core
                         Customer
           Quality         value         Design
            level

Product                  Packaging
support                                             Warranty
What Is a Product?
   Product and Service Classifications

 There are two types of products:


 Consumer Products      Industrial Products
What Is a Product?
        Product and Service Classifications

Consumer products are products and
  services for personal consumption
• It is classified by how consumers buy them
                   Consumer Products




Convenience     Shopping        Specialty     Unsought
 Products       Products        Products      Products
What Is a Product?
       Product and Service Classifications
Convenience products
consumer products and services that the customer
  usually buys frequently, immediately, and with a
  minimum comparison and buying effort
• Newspapers
• Candy
• Fast food
What Is a Product?
        Product and Service Classifications

Shopping products
consumer products and services that the customer
  compares carefully on suitability, quality, price, and
  style
• Furniture
• Cars
• Appliances
What Is a Product?
        Product and Service Classifications
Specialty products
consumer products and services with unique
  characteristics or brand identification for which a
  significant group of buyers is willing to make a special
  purchase effort
• Medical services
• Designer clothes
• High-end electronics
What Is a Product?
       Product and Service Classifications
Unsought products
consumer products that the consumer does not
  know about or knows about but does not normally
  think of buying
• Life insurance
• Funeral services
• Blood donations
What Is a Product?
        Product and Service Classifications

 Industrial products are products purchased for
  further processing or for use in conducting a
  business
                       Industrial
                        Products


   Materials                               Supplies
                        Capital
     And                                     and
                         Items
    Parts                                  Services
What Is a Product?
      Product and Service Classifications

 Materials and parts include raw materials and
  manufactured materials and parts usually sold
  directly to industrial users
• Wheat
• Lumber
• Iron
• Cement
What Is a Product?
        Product and Service Classifications

 Capital items are industrial products that aid in the
  buyer’s production or operations
• Buildings
• Elevators
• Computers
What Is a Product?
       Product and Service Classifications
 Supplies and services include operating
  supplies, repair and maintenance items, and
  business services
What Is a Product?
    Organizations, Persons, Places, and Ideas

• Organizations-Profit (businesses) and Nonprofit
  (colleges, churches and museums)
• Persons –Entertainers, doctors, lawyers and
  architects
• Places-Tourist attracting sites, new
  residents, company offices and factories
• Social –Reduce smoking, drug abuse, family
  planning and human rights
Product and Service Decisions


INDIVIDUAL PRODUCT                     PRODUCT MIX
                       LINE DECISION
AND SERVICE DECISION                     DECISION
Product and Service Decisions
    Individual Product and Service Decisions


                                                   Product
 Product
                 Branding   Packaging   Labeling   Support
attributes
                                                   services
Product and Service Decisions
     Individual Product and Service Decisions

 Product attributes are the benefits of the product or
  service


                   Quality    Features


                         Styles
                           &
                         Design
Product and Service Decisions
     Individual Product and Service Decisions

 Product quality includes level and consistency
• Quality level is the level of quality that supports the
  product’s positioning
• Conformance quality is the product’s freedom from
  defects and consistency in delivering a targeted
  level of performance
Product and Service Decisions
    Individual Product and Service Decisions

 Product features are a competitive tool for
  differentiating a product from competitors’
  products

 Product features are assessed based on the value to
  the customer versus the cost to the company
Product and Service Decisions
     Individual Product and Service Decisions

 Style describes the appearance of the product

 Design contributes to a product’s usefulness as well
 as to its looks. It goes to the very heart of a product
Product and Service Decisions
     Individual Product and Service Decisions

 Brand is the name, term, sign, or design—or a
  combination of these—that identifies the maker or
  seller of a product or service
 Brand equity is the differential effect that the brand
  name has on customer response to the product and
  its marketing
Product and Service Decisions
    Individual Product and Service Decisions

 Packaging involves designing and producing the
  container or wrapper for a product
 The primary function of the package was to hold
  and protect the product
Product and Service Decisions
     Individual Product and Service Decisions

 Labeling identifies the product or brand, describes
  attributes, and provides promotion
Product and Service Decisions
     Individual Product and Service Decisions
 The label might also describe several things about
  the product-
• who made it
• where it was made
• when it was made
• its contents
• how it is to be used and
• how to use it safely
Product and Service Decisions
     Individual Product and Service Decisions

 Product support services augment actual products

Companies must continually:
• Assess the value of current services to obtain ideas
  for new ones
• Assess the costs of providing these services
• Develop a package of services to satisfy customers
  and provide profit to the company
Product and Service Decisions
               Product Line Decisions

 Product line is a group of products that are closely
  related because they function in a similar
  manner, are sold to the same customer groups, are
  marketed through the same types of outlets, or fall
  within given price ranges
Product and Service Decisions
                 Product Line Decisions

 Product line length is the number of items in the
  product line

                            Product Line Length




                                                     Line
             Line Filling
                                                  Stretching



Downward     Both Ways            Upward
Product and Service Decisions
               Product Line Decisions
• Line filling: adding more items within the present
  range of the line
 More profits
 Satisfying dealers
• Line stretching: when a company lengthens its product
  line beyond its current range
• Downward: add low-end products
• Upward: add prestige to the current products
• Both ways: achieve both goals of line filling and line
  stretching
Product and Service Decisions
              Product Mix Decisions

 Product mix consists of all the products and items
   that a particular seller offers for sale
• A company's product mix has four important
  dimensions
Product Mix
Product and Service Decisions
               Product Mix Decisions
 Width:
  total number of different product lines the company
  carries
 Length:
  total number of items the company carries within its
  product lines
 Depth:
  number of versions offered of each product in the line
 Consistency:
  how closely related the various product lines are in end
  use, production requirements, distribution channels or
  some other way
Branding Strategy: Building Strong Brands

 Brand represents the consumer’s perceptions and
 feelings about a product and its performance.


                    Brand Equity

 Brand equity is the positive differential effect that
  knowing the brand name has on customer response
  to the product or service.
Building Strong Brands
      Brand positioning
            Attributes
             Benefits
        Beliefs and values


     Brand name selection
            Selection
            Protection


      Brand sponsorship
      Manufacturer’s brand
         Private brand
           Licensing
         Co-branding


      Brand development
         Line extensions
        Brand extensions
           Multibrands
           New brands
Branding Strategy: Building Strong Brands
                 Brand Positioning

Brand positioning includes:
 Product attributes

 Product benefits

 Product beliefs and values
Branding Strategy: Building Strong Brands
               Brand Name Selection

Desirable qualities
1. Suggest benefits and qualities
2. Easy to pronounce, recognize, and remember
3. Distinctive
4. Extendable
5. Translatable for the global economy
6. Capable of registration and legal protection
Chp 8-1
Branding Strategy: Building Strong Brands
                     Brand Sponsorship
   Manufacturer’s brand:
•   A brand created and owned by a manufacturer of a product or
    service
   Private brand:
•   A brand created and owned by a reseller of a product or service
   Licensed brand:
•   license names or symbols previously created by other
    manufacturers, names of well-known celebrities, or characters
    from popular movies and books
   Co-brand:
•   Co-branding occurs when two established brand names of
    different companies are used on the same product
Branding Strategy: Building Strong Brands
                      Brand Development Strategies
                                          Product Category
                               Existing                      New


                                 Line                     Brand
Brand Name




               Existing
                              Extensions                 Extension


                New          Multibrands                New Brands
Branding Strategy: Building Strong Brands
            Brand Development Strategies
    Line extensions
•    occur when a company extends existing brand names to
     new forms, colors, sizes, ingredients, or flavors of an
     existing product category
    Brand extensions
•    extend a brand name to a new or modified product in a
     new category
    Multibrands
•     additional brands in the same category
    New brands
•    are used when existing brands are inappropriate for new
     products in new product categories or markets
Branding Strategy: Building Strong Brands
               Managing Brands

Requires:
 Continuous brand communication
 Customer-centered training
 Brand audits
Services Marketing
           Types of Service Industries

 Government

 Private not-for-profit organizations

 Business services
Services Marketing
   Nature and Characteristics of a Service
      Intangibility                      Inseparability
  Services cannot be                   Services cannot be
seen, tasted, felt, heard              separated from their
   or smelled before                        providers
        purchase


                            Services



      Variability                          Perishability
   Quality of services                  Services cannot be
depends on who provides                stored for later sale or
 them and when, where                           use.
       and how
Services Marketing
    Marketing Strategies for Service Firms

 In addition to traditional marketing
  strategies, service firms often require
  additional strategies
• Service-profit chain
• Internal marketing
• Interactive marketing
Marketing Strategies for Service Firms
          Service-profit chain
Services Marketing
     Marketing Strategies for Service Firms

 Service-profit chain links service firm profits with
  employee and customer satisfaction
• Internal service quality
• Satisfied and productive service employees
• Greater service value
• Satisfied and loyal customers
• Healthy service profits and growth
Marketing Strategies for Service Firms
    Three Types of Service Marketing

                   Company




  Employee                            Customers
              Interactive Marketing
Marketing Strategies for Service Firms
              Internal marketing

Orienting    and    motivating     customer-contact
employees and supporting service people to work as
a team to provide customer satisfaction
Marketing Strategies for Service Firms
            Interactive marketing

Training service employees in the fine art of
 interacting with customers to satisfy their needs
Marketing Strategies for Service Firms
                     External Marketing

     Product
                                              Price
      Variety
                                            List Price
      Quality
                                            Discounts
      Design
                                            Allowance
     Features
                                          Payment Period
    Brand name
                                           Credit terms
      service
    Packaging


                           4 P’S
                                              Place
   Promotion                                Channels
    Advertising                             Coverage
  Personal selling                         Assortments
  Sales Promotion                            Locations
  Public Relations                          Inventory
                                          Transportations
                                            Logistics
Marketing Strategies for Service Firms
              Major Marketing Tasks

Managing Service Differentiation
• creates      a    competitive     advantage   from     the
  offer, delivery, and image of the service
Managing Service Quality
Empower employees
 Responsibility
 Authority
 Incentive
Managing Service Productivity
• Train current or new employees
• Increase quantity by decreasing qualities technology

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Chp 8-1

  • 1. Kazi Adeeb Hasan Id no. 10111101068 23rd Intake (2) presents…
  • 2. A Presentation On Products, Services and Brands: Building Customer Value
  • 3. INTRODUCTION The marketing process of creating value for customers and build customer relationships to capture value from customers in return is performed by satisfying customers with various types of products, services and brands.
  • 4. What Is a Product? Products, Services, and Experiences  Product is anything that can be offered in a market for attention, acquisition, use, or consumption that might satisfy a need or want • Soap • Toothpaste
  • 5. What Is a Product? Products, Services, and Experiences  Service is a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in ownership • Doctor’s exam • Financial services
  • 6. What Is a Product? Products, Services, and Experiences  Experiences represent what buying the product or service will do for the customer • Disney • American Girl • Toys “R” Us
  • 7. What Is a Product? Levels of Product & Services  basic level is the core customer value. It represents what the buyer is really buying  Second level is turning the core benefits into an actual product. It represents the design, brand name, and packaging that delivers the core benefit to the customer  In the third stage building an augmented product by offering additional consumer services and benefits
  • 8. Three Levels of Product Augmented product Delivery After and Actual product sale credit service Brand Features name Core Customer Quality value Design level Product Packaging support Warranty
  • 9. What Is a Product? Product and Service Classifications  There are two types of products: Consumer Products Industrial Products
  • 10. What Is a Product? Product and Service Classifications Consumer products are products and services for personal consumption • It is classified by how consumers buy them Consumer Products Convenience Shopping Specialty Unsought Products Products Products Products
  • 11. What Is a Product? Product and Service Classifications Convenience products consumer products and services that the customer usually buys frequently, immediately, and with a minimum comparison and buying effort • Newspapers • Candy • Fast food
  • 12. What Is a Product? Product and Service Classifications Shopping products consumer products and services that the customer compares carefully on suitability, quality, price, and style • Furniture • Cars • Appliances
  • 13. What Is a Product? Product and Service Classifications Specialty products consumer products and services with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort • Medical services • Designer clothes • High-end electronics
  • 14. What Is a Product? Product and Service Classifications Unsought products consumer products that the consumer does not know about or knows about but does not normally think of buying • Life insurance • Funeral services • Blood donations
  • 15. What Is a Product? Product and Service Classifications  Industrial products are products purchased for further processing or for use in conducting a business Industrial Products Materials Supplies Capital And and Items Parts Services
  • 16. What Is a Product? Product and Service Classifications  Materials and parts include raw materials and manufactured materials and parts usually sold directly to industrial users • Wheat • Lumber • Iron • Cement
  • 17. What Is a Product? Product and Service Classifications  Capital items are industrial products that aid in the buyer’s production or operations • Buildings • Elevators • Computers
  • 18. What Is a Product? Product and Service Classifications  Supplies and services include operating supplies, repair and maintenance items, and business services
  • 19. What Is a Product? Organizations, Persons, Places, and Ideas • Organizations-Profit (businesses) and Nonprofit (colleges, churches and museums) • Persons –Entertainers, doctors, lawyers and architects • Places-Tourist attracting sites, new residents, company offices and factories • Social –Reduce smoking, drug abuse, family planning and human rights
  • 20. Product and Service Decisions INDIVIDUAL PRODUCT PRODUCT MIX LINE DECISION AND SERVICE DECISION DECISION
  • 21. Product and Service Decisions Individual Product and Service Decisions Product Product Branding Packaging Labeling Support attributes services
  • 22. Product and Service Decisions Individual Product and Service Decisions  Product attributes are the benefits of the product or service Quality Features Styles & Design
  • 23. Product and Service Decisions Individual Product and Service Decisions  Product quality includes level and consistency • Quality level is the level of quality that supports the product’s positioning • Conformance quality is the product’s freedom from defects and consistency in delivering a targeted level of performance
  • 24. Product and Service Decisions Individual Product and Service Decisions  Product features are a competitive tool for differentiating a product from competitors’ products  Product features are assessed based on the value to the customer versus the cost to the company
  • 25. Product and Service Decisions Individual Product and Service Decisions  Style describes the appearance of the product  Design contributes to a product’s usefulness as well as to its looks. It goes to the very heart of a product
  • 26. Product and Service Decisions Individual Product and Service Decisions  Brand is the name, term, sign, or design—or a combination of these—that identifies the maker or seller of a product or service  Brand equity is the differential effect that the brand name has on customer response to the product and its marketing
  • 27. Product and Service Decisions Individual Product and Service Decisions  Packaging involves designing and producing the container or wrapper for a product  The primary function of the package was to hold and protect the product
  • 28. Product and Service Decisions Individual Product and Service Decisions  Labeling identifies the product or brand, describes attributes, and provides promotion
  • 29. Product and Service Decisions Individual Product and Service Decisions  The label might also describe several things about the product- • who made it • where it was made • when it was made • its contents • how it is to be used and • how to use it safely
  • 30. Product and Service Decisions Individual Product and Service Decisions  Product support services augment actual products Companies must continually: • Assess the value of current services to obtain ideas for new ones • Assess the costs of providing these services • Develop a package of services to satisfy customers and provide profit to the company
  • 31. Product and Service Decisions Product Line Decisions  Product line is a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price ranges
  • 32. Product and Service Decisions Product Line Decisions  Product line length is the number of items in the product line Product Line Length Line Line Filling Stretching Downward Both Ways Upward
  • 33. Product and Service Decisions Product Line Decisions • Line filling: adding more items within the present range of the line  More profits  Satisfying dealers • Line stretching: when a company lengthens its product line beyond its current range • Downward: add low-end products • Upward: add prestige to the current products • Both ways: achieve both goals of line filling and line stretching
  • 34. Product and Service Decisions Product Mix Decisions  Product mix consists of all the products and items that a particular seller offers for sale • A company's product mix has four important dimensions
  • 36. Product and Service Decisions Product Mix Decisions  Width: total number of different product lines the company carries  Length: total number of items the company carries within its product lines  Depth: number of versions offered of each product in the line  Consistency: how closely related the various product lines are in end use, production requirements, distribution channels or some other way
  • 37. Branding Strategy: Building Strong Brands Brand represents the consumer’s perceptions and feelings about a product and its performance. Brand Equity  Brand equity is the positive differential effect that knowing the brand name has on customer response to the product or service.
  • 38. Building Strong Brands Brand positioning Attributes Benefits Beliefs and values Brand name selection Selection Protection Brand sponsorship Manufacturer’s brand Private brand Licensing Co-branding Brand development Line extensions Brand extensions Multibrands New brands
  • 39. Branding Strategy: Building Strong Brands Brand Positioning Brand positioning includes:  Product attributes  Product benefits  Product beliefs and values
  • 40. Branding Strategy: Building Strong Brands Brand Name Selection Desirable qualities 1. Suggest benefits and qualities 2. Easy to pronounce, recognize, and remember 3. Distinctive 4. Extendable 5. Translatable for the global economy 6. Capable of registration and legal protection
  • 42. Branding Strategy: Building Strong Brands Brand Sponsorship  Manufacturer’s brand: • A brand created and owned by a manufacturer of a product or service  Private brand: • A brand created and owned by a reseller of a product or service  Licensed brand: • license names or symbols previously created by other manufacturers, names of well-known celebrities, or characters from popular movies and books  Co-brand: • Co-branding occurs when two established brand names of different companies are used on the same product
  • 43. Branding Strategy: Building Strong Brands Brand Development Strategies Product Category Existing New Line Brand Brand Name Existing Extensions Extension New Multibrands New Brands
  • 44. Branding Strategy: Building Strong Brands Brand Development Strategies  Line extensions • occur when a company extends existing brand names to new forms, colors, sizes, ingredients, or flavors of an existing product category  Brand extensions • extend a brand name to a new or modified product in a new category  Multibrands • additional brands in the same category  New brands • are used when existing brands are inappropriate for new products in new product categories or markets
  • 45. Branding Strategy: Building Strong Brands Managing Brands Requires:  Continuous brand communication  Customer-centered training  Brand audits
  • 46. Services Marketing Types of Service Industries  Government  Private not-for-profit organizations  Business services
  • 47. Services Marketing Nature and Characteristics of a Service Intangibility Inseparability Services cannot be Services cannot be seen, tasted, felt, heard separated from their or smelled before providers purchase Services Variability Perishability Quality of services Services cannot be depends on who provides stored for later sale or them and when, where use. and how
  • 48. Services Marketing Marketing Strategies for Service Firms  In addition to traditional marketing strategies, service firms often require additional strategies • Service-profit chain • Internal marketing • Interactive marketing
  • 49. Marketing Strategies for Service Firms Service-profit chain
  • 50. Services Marketing Marketing Strategies for Service Firms  Service-profit chain links service firm profits with employee and customer satisfaction • Internal service quality • Satisfied and productive service employees • Greater service value • Satisfied and loyal customers • Healthy service profits and growth
  • 51. Marketing Strategies for Service Firms Three Types of Service Marketing Company Employee Customers Interactive Marketing
  • 52. Marketing Strategies for Service Firms Internal marketing Orienting and motivating customer-contact employees and supporting service people to work as a team to provide customer satisfaction
  • 53. Marketing Strategies for Service Firms Interactive marketing Training service employees in the fine art of interacting with customers to satisfy their needs
  • 54. Marketing Strategies for Service Firms External Marketing Product Price Variety List Price Quality Discounts Design Allowance Features Payment Period Brand name Credit terms service Packaging 4 P’S Place Promotion Channels Advertising Coverage Personal selling Assortments Sales Promotion Locations Public Relations Inventory Transportations Logistics
  • 55. Marketing Strategies for Service Firms Major Marketing Tasks Managing Service Differentiation • creates a competitive advantage from the offer, delivery, and image of the service Managing Service Quality Empower employees  Responsibility  Authority  Incentive Managing Service Productivity • Train current or new employees • Increase quantity by decreasing qualities technology