Class Intro 8
From AlexBrownRacing
Product Decisions and Marketing Planning
Product: needs satisfying offering of a firm.
Product: Good versus Service, or blend of both.
Product assortment: Product item; product line
example Proctor and Gamble (P&G)
Branding: Trademarks (History of trademarks)
Domain name issues.
Conditions favorable for branding: Easy to label and identify; maintain consistent quality; dependable and widely available; price makes branding profitable; economies of scale; display space available
Brand Familiarity: Rejection; Non recognition; Recognition; Preference; Insistence
Characteristics of a good brand name: short and simple; easy to spell read and recall; easy to pronounce; suggests product benefits; works with packaging / labeling; timely; adaptable to multiple media; legally available
Lanham Act: protecting your brand
iPad brand in China
Brand Equity: Wells Fargo
Family brand, Licensed brand, Individual Brand, Generic brand
Manufacturer brands versus Dealer (private) brands
Side: Personal branding: vanity search, facebook
Packaging
Enhance the product; protect the product; ease of distribution; UPC and product information
FDA labeling requirements
Social responsibility: environmental impact; Federal Fair Packaging and Labeling Act
Warranties: Magnuson-Moss Act
Product Classes
Consumer product versus Business product
Consumer:
Convenience Products: > Staples; Impulse; emergency
Shopping Products: > Homogeneous; heterogeneous
Specialty Products
Unsought Products: > New Unsought; Regularly Unsought
Business: > derived demand; inelastic industry demand; tax treatments
Classes: Installations; Accessories; Raw materials; Component parts & materials; MRO supplies; Professional services
