Class Intro 8

From AlexBrownRacing

Product Decisions and Marketing Planning

Old Notes 1 Old Notes 2

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 (Wikipedia: Brand Equity)

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