WEEKS SEVEN, TOPIC 7: Product; based on chapters SEVEN By the end of this topic, you should be able to: · Define a product and describe the three levels of a product; core, actual and augmented . Describe the four main classifications of consumer products · Describe the decisions organisations make regarding their individual products and services; . Describe the brand strategy companies use to build and manage their brands. . Identify the four characteristics that affect the marketing of a service Contents Tutorial Class One. 1 Three Levels of Product. 1 Consumer Products 2 Brand Identity. 2 Brand Equity. 3 Brand Positioning. 4 Brand Name Selection. 5 Tutorial Class Two 6 Brand Sponsorship 6 Branding 6 Packaging. 7 Ethics in Branding 7
Tutorial Class One Three Levels of Product 1. Form a pair. Collectively, describe the likely i. Core (define two different ones, each based on a different target market (eg. youth, elderly). ii. actual and iii. augmented (aspects of) products for a suburban gymnasium (ie. health club). Think of as many aspects as possible. Consumer Products 2. Consumer products are products and services bought by final consumers for personal consumption. Marketers usually classify these products and services further based on how consumers go about buying them. Consumer products include · convenience products, · shopping products, · specialty products and · unsought products. These products differ in the ways consumers buy them and, therefore, in how they are marketed (see Chart 10, Table 7.1). Briefly describe each of these with an example.
How can a well-known brand name help a company? Brand Identity 3. Brand Identity: Write down the first five brand names you think of and complete the table. What do you associate with each brand such as: cheap, reliable or cool? FIVE objectives that a good brand will achieve: · Delivers your company's message clearly · Confirms your credibility · Connects to your prospects emotionally · Motivates the buyer or seller · Creates and maintains customer loyalty Find an example below. Brand Design (Shape (Coke Bottle), , Graphics (Burberry plaid), Colours (McDonalds), etc) Brand Logo/Symbol Brand Name Brand Slogan Association Example: McDonald's The "M" Red, yellow and black I'm lovin' it Cheap and consistent Why recalled? Most Gen Ys will be regular customers.