Lecture 2: Product and Brand Management 14 02 26
- Product: Anything that can be offered to a market…for use or consumption that might satisfy a want or need. It
can include physical objects, services, persons, places, organisations and ideas.
- Brand: A name, term, sign, symbol or design….or combination of these… that identifies the goods or services
of one seller or group of sellers and differentiates them from those of competitors.
Historical origins of
The most basic product is a natural ‘thing’ found in nature e.g. rice, wood, water
Most products today are the result of human activity modifying natural products e.g. wooden furniture, rice pudding
Products are things which generate utility (a theory form classical economics)
Generally products have physical characteristics…. But not necessarily; services are products, but they aren’t physical.
Were originally signifiers of ownership; I have a cat, you have a cat, you put a mark on it.
Moved on to be signifiers of origin
Moved on to be additions to products which added value to those products in a number of ways
Products and brands in our lives
We all live in ‘worlds’ that we construct for ourselves
To survive we have basic needs which can be satisfied by the acquisition and consumption of products and services
Our needs, wants and the types of things we need can vary (Maslow’s Hierarchy of needs)
The products and brands that we consume are often expressions of how we see ourselves.
We are surrounded by products and brands that we could consume, or not, as we choose.
Usually, we can adopt or reject these according to our own preferences
We ‘live’ in ‘Brandscapes’, think about the world in which you live (John Sherry)
Sometimes brands become ‘Lovemarks’ (Kevin Roberts)
Where does marketing fit in an organisational structure?