|
|
This is only a preview of the paper
Click here to register and get the full text.
Existing members click here to login
|
|
|
Chapter 10 Developing New Products and Services
Product a good, service or idea that consists of tangible attributes (physical characteristics) and intangible attributes (not perceived by the senses) that will satisfy consumers in exchange for money or something of value
Product Line a group of products that are closely related
o satisfy needs
o are used together
o sold to the same consumer group
o distributed to same type of channel
o fall within a given price range
o has its own marketing strategy
Product Item A specific product from a product line that is noted for its unique brand, size or price
Product mix number of product lines offered by a company
Classifying Products
o helps to develop similar marketing strategies on a variation of products
o two ways to classify products: Type of User and Degree of Tangibility
Type of User:
Consumer goods products purchased by the ultimate consumer
Business goods products that are bought in order to resell or to aid the business
Degree of Tangibility
Method of product classification
1. ...
The name of your brand should propose the benefits of the product
Should try to make the name unique, memorable and positive
The name should fit with the corporate culture of the company or product image
Make sure that the name has no legal or regulatory restrictions
Generally the name should be simple and emotional
Branding Strategies
When a company is deciding to develop a brand for a product they must choose from a few different branding approaches:
1.
Approximate Word count = 1188
Approximate Pages = 4.8
(250 words per page double spaced)
|
|
|
|
|
|