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Chapter 9 Lecture Notes

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Ryerson University
MKT 504
Laila Rohani

Chapter 9 Lecture Notes Product, Branding, and Packaging Decisions What is a product? - A product is the item offered for sale. A product can be an item or service there is more to its physical shape or basic service function What is product for marketers? - Product is anything that can be offered to a market to satisfy a need or want. For example; physical goods, services, experiences, events, people, places Complexity of products - What is the relationship between products and the notion of complexity? • We as marketers must see ourselves as benefit providers when making products Types of products - Four types: specialty, shopping, convenience and unsought - Unsought products; consumers don’t know about or don’t normally think of buying, example smoke detectors, web camera, etc. Change Product Mix Breadth - Increase breadth – true religion brand jeans now are a lifestyle brand with apparel, belts, swimwear and fragrances - Decrease depth – mccormick spices eliminates dozens of products each year Branding - A brand can use: name, logo symbols, characters, slogans, jingles, and even distinctive packages What is a brand - Name, term, sigh, symbol, or design or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition - Simply put, braind is a promise. By identifying and authenticating a product or service it can deliver - Brand elements: brand name, URLS, logos and symbols, characters, slogans, jingles and sounds Value of branding for customer and marketer - Value branding: brands facilitate purchasing, brands establish loyalty, brands protect from competition, brands reduce
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