Chapter 8 Product,services and branding
Principles of Marketing
Chapter 8
Product, Services, and Branding
Strategy
1
Product, Services, and Branding Strategy
Topic Outline
• What Is a Product?
• Product and Services Decisions
• Branding Strategy: Building Strong
Brands
• Services Marketing
2
What Is a Product?
Products, Services, and Experiences
Product is anything that can be offered in a market for attention, use, or consumption that might satisfy a need or want.
• Apple IPod, Toyota, Caffé Mocha at Starbucks
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
• Advice from your family Doctor, banking, hotel, airline
3
What Is a Product?
Products, Services, and Experiences
•
Product is the key element in the overall market offering. This offering becomes the basis upon which the company builds profitable relationships with customers. •
A company’s market offering often includes both tangible goods and intangible services •
To differentiate their offers, beyond simply making products and delivering services, they are creating and managing experience with their products or services. •
Experiences have always been important in the entertainment industry (Disney).
•
Companies that market experience realize that customers are really buying much more than just products and services. They are buying what those offers will do for them.
4
What Is a Product?
Levels of Product and Services
• Product planners need to think about products and services on three levels:
1. Core benefits
2. Actual product
3. Augmented product
5
What Is a Product?
Levels of Product and Services
1. Core benefits
–
–
–
•
•
The most basic level
Addresses the question what is the buyer really buying?
When designing products, marketers must first define the core, problem-solving benefits or services that consumer seek.
People who buy BlackBerry are buying more than a wireless mobile phone, e-mail and
Chapter 8
Product, Services, and Branding
Strategy
1
Product, Services, and Branding Strategy
Topic Outline
• What Is a Product?
• Product and Services Decisions
• Branding Strategy: Building Strong
Brands
• Services Marketing
2
What Is a Product?
Products, Services, and Experiences
Product is anything that can be offered in a market for attention, use, or consumption that might satisfy a need or want.
• Apple IPod, Toyota, Caffé Mocha at Starbucks
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
• Advice from your family Doctor, banking, hotel, airline
3
What Is a Product?
Products, Services, and Experiences
•
Product is the key element in the overall market offering. This offering becomes the basis upon which the company builds profitable relationships with customers. •
A company’s market offering often includes both tangible goods and intangible services •
To differentiate their offers, beyond simply making products and delivering services, they are creating and managing experience with their products or services. •
Experiences have always been important in the entertainment industry (Disney).
•
Companies that market experience realize that customers are really buying much more than just products and services. They are buying what those offers will do for them.
4
What Is a Product?
Levels of Product and Services
• Product planners need to think about products and services on three levels:
1. Core benefits
2. Actual product
3. Augmented product
5
What Is a Product?
Levels of Product and Services
1. Core benefits
–
–
–
•
•
The most basic level
Addresses the question what is the buyer really buying?
When designing products, marketers must first define the core, problem-solving benefits or services that consumer seek.
People who buy BlackBerry are buying more than a wireless mobile phone, e-mail and