productlines & brands, brand equty[1]

7/29/2019 ProductLines & Brands, Brand Equty[1]

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MANAGING PRODUCTLINES & BRANDS


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PRODUCT:

A product is anything that can be offeredto a market to satisfy a want or need.


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CLASSIFICATION OF PRODUCT:

Based on Durability & Tangibility

Non-durable goods (tangible) Consumedin one or few uses Eg: beer & soup.

Durable goods (tangible) Long survivalgoods

Services (intangible)


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Continues.,

Consumer goods Classification Convenience goods tobacco products, soaps,

news papers

Shopping goods Customer select & purchasesuitability, quality, price & style Ex: furniture,clothing, used cars, etc.

Specialty goods goods with unique characteristicsor brand identifications. Ex: cars, stereo components,

photographic equipment etc. Unsought goods goods that the consumers does

not know about or normally does not think of buying.Ex: life insurance, Health insurance etc.


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Continues.,

Industrial goods classification

Materials & parts

Capital items installations & equipments

Supplies & business services -Lubricants, coal, paper, pen, and paints.


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PRODUCT MIX

It is the set of all products and items thata particular seller offers for sale.

Product width

Product length

The Depth

The Consistency


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Product width:

Product width of a product mix refers tohow many different product lines thatcompany carries. (soaps, powders,

shampoos, etc)


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Product length:

Total number of items in the mix. (total ofall product and product lines, i.e., above100 products of HLL)


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The Depth:

How many variants are offered of eachproduct in the line. (i.e., how many brandsare in shampoo line,)


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The Consistency

The refers to how closely related thevarious product lines are in end use,production requirements, distribution

channels or some other way.


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What is a brand?

A brand is a name, term, sign, symbol ordesign, or a combination of them,intended to identify the goods or services

of one seller or group of sellers and todifferentiate them from those ofcompetitors. The best brands convey a

warranty of quality.


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Brand Equity


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Five distinguished levels of customer

attributes towards their brand fromlowest to higher.

Not known by buyers

High degree of brand awareness High degree of brand acceptability

High degree of brand preference

High degree of brand Loyalty.


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1. Customer will change brands,

especially for price reasons nobrand loyalty.

2. Customer is satisfied, no reason

to change the brand.3. Customer is satisfied and would

incur costs by changing brand.

4. Customer values the brand andsees it as a friend.

5. Customer is devoted to the brand.


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Brand Equity

Brand equity is high related to how manycustomers are in classes 3,4 and 5. it isalso related to the degree of brand

name recognition, perceived brand quality,strong mental and emotional association,and other assets such as patents,

trademarks and channel relationships.


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Branding Decision:

Once a company decides on its brandname strategy, it faces the task ofchoosing a specific brand name.


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A company may choose:

The name of a person Honda, Ford,Muniandi vilas, T.V.S.

Location American Airlines, Chetinadfoods.

Life style Life style, Healthy choice, Highlook T. shirts

Artificial name Kodak, Miyami


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BRANDING DECISION

PROCESS


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1. BRAND DECISION

a) Brand or

b) No Brand


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2. Brand-Sponsor Decision

1. Manufacturer Brand

2. Distributor (Private) Brand

3. Licensed Brand


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3. Brand-Name Decisions

1. Individual Brands

2. Blanket Family Names

3. Separate Family Names4. Company trade name combined with

individual product name (Kelog-

Confliks)


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5. Brand-repositioning Decisions

1. Repositioning (7up) one of the softdrink to alternative to Cola, asrefreshing. (or)

2. No-repositioning


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DESIRABLE QUALITIES OF A

BRAND NAME: It should suggest something about the

products benefits, eg: Beauty-rest, Fair &Lovely etc.,

It should suggest product qualities such

as action or colour Ex: Jet Airways It should be easy to pronounce,

recognize & remember Ex: Bata, etc It should be distinctive Ex: Kodak, Xerox

It should not carry poor meanings inother countries or in other languages,(Ex: Nova is a poor name of a car in Spanish-speaking countries, it meansdoesntgo)


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BRAND STRATEGY DECISION:

Line Extension (Existing brand nameextended to new sizes or flavors in the existingproduct category.

Brand Extensions (Brand names extended to

new-product categories). Multi brands (New brand names introduced

in the same product category). New Brands (New brand name for new

category products). Co-Brands (Brands bearing two or more well-

known brand names. Ex: Hero-Honda.


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PACKAGING:

It includes the activities of designing andproducing the container for a product.

Primary Package

Secondary Package

Shipping Package


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ADVANTAGES OF PACKAGING:

Self-Service

Impulse purchase

Attracts attention Describe the products feature

Create consumer confidence

Favourable overall impression


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Continues.,

Consumer affluence Convenience

Appearance

Dependability

Prestige of better package

Company & Brand Image (Packagescontributes instant recognition of

company & brand). Innovation opportunity (change may

give increase in sales).


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LABELING:

A label performs several functions:

Label helps to identify the product or brand,

Grade the brand (ISI, ISO 9000)

Describe the product Who made it?

Where it was made?

When it was made?

What it contains?

How it is to be used? and

How to use it safely?

Finally the label might promote the product through itsattractive graphics.


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Thank You

productlines & brands, brand equty[1]

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