A product is defined as:
"Anything that is capable of satisfying customer needs"
This definition includes both physical products (e.g. cars, washing machines, DVD
players) as well as services (e.g. insurance, banking, private health care).
The process by which companies distinguish their product offerings from the
competition is called branding.
For most companies, brands are not developed in isolation they are part of a
A product group (or product line) is a group of brands that are closely related in terms
of their functions and the benefits they provide (e.g. Dell's range of personal
computers or Sony's range of televisions).
There are two main types of product brand:
(1) Manufacturer brands
(2) Ownlabel brands
Manufacturer brands are created by producers and use their chosen brand name.
The producer has the responsibility for marketing the brand, by building distribution
and gaining customer brand loyalty. Good examples include Microsoft, Panasonic
Ownlabel brands are created and owned by distributors. Good examples include
Tesco and Sainsbury's.
The main importance of branding is that, done well, it permits a busi