* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Download Product
Service parts pricing wikipedia , lookup
Marketing communications wikipedia , lookup
Green marketing wikipedia , lookup
Online shopping wikipedia , lookup
Target audience wikipedia , lookup
Perfect competition wikipedia , lookup
Planned obsolescence wikipedia , lookup
Integrated marketing communications wikipedia , lookup
Consumer behaviour wikipedia , lookup
First-mover advantage wikipedia , lookup
Neuromarketing wikipedia , lookup
Youth marketing wikipedia , lookup
Advertising campaign wikipedia , lookup
Food marketing wikipedia , lookup
Market penetration wikipedia , lookup
Celebrity branding wikipedia , lookup
Pricing strategies wikipedia , lookup
Visual merchandising wikipedia , lookup
Marketing strategy wikipedia , lookup
Global marketing wikipedia , lookup
Brand awareness wikipedia , lookup
Marketing channel wikipedia , lookup
Product placement wikipedia , lookup
Product lifecycle wikipedia , lookup
Brand equity wikipedia , lookup
Brand loyalty wikipedia , lookup
Predictive engineering analytics wikipedia , lookup
Personal branding wikipedia , lookup
Brand ambassador wikipedia , lookup
PRODUCT Andrea Encinas, Camila Jordan, Aisha Hazou, Jose Gomez | 11th LEARNING OBJECTIVES • Aspects of branding (AO2) • The importance of branding (AO3) • The importance of packaging (AO3) A product is anything that can be offered to the attention of the market for its acquisition, use or consumption, that satisfies a desire or a need; It includes physicists, services, people, places, organizations and ideas WHAT IS BRAND AND BRANDING? Brand: a symbol, name, image or trademark that distinguishes a product from its competitors. Branding: is the process of distinguishing one business’s product from anther and can add great value to a product. ASPECTS OF BRANDING Brand Awareness: extent to which a brand is recognized by potential customers and is correctly associated with a particular product –can be expressed as a percentage of the target market. ASPECTS OF BRANDING Brand Development: Measures the infiltration of a product’s sales, usually per thousand population; if 100 people in 1000 buy a product, it has a brand development of 10 ASPECTS OF BRANDING Brand Loyalty: the faithfulness of consumers to a particular brand as shown by their repeat purchases irrespective of the marketing pressure form competing brands. Brand Ambassadors: Consumers who will market a particular brand by talking positively about it among their colleagues, friends, or relatives. ASPECTS OF BRANDING Brand Value or Brand Equity: the premium that a brand has because customers are willing to pay more for it than they would for a non-branded generic product. THE IMPORTANCE OF BRANDING Well Known and recognized IS PACKAGING IMPORTANT? WHAT IS PACKAGING? ● Packaging refers to the design and production of the physical container or wrapper of a product. ● Help to distinguish one product from another. IMPORTANT FUNCTIONS: ❖ Protection(function) ❖ Attracting customers ❖ Promotion and information ❖ Differentiation and brand support ❖ Packaging-evaluation PROTECTION OR FUNCTION ● The purpose of product packaging is to protect the product from damage. ● Not only protects the product during transit from the manufacturer to the retailer, but it also prevents damage while the product sits on retail shelves. ● There are different ways to protect the product by having some form of packaging. Ex: - Milk - Apples ATTRACTING CUSTOMERS ❖ The key factor that attracts a consumer who may be undecided on which brand buy. ❖ So, for this reason, companies conduct extensive market research on different things like colour scheme, designs and materials to determine the most appealing package for consumers. PROMOTION AND INFORMATION ❖ IMPORTANT TO GIVE INFORMATION ABOUT THE PRODUCT! ❖ May contain directions on how to use or make the product. ❖ Support other promotional material by making references to advertisement in TV or other media. ❖ List ingredients and nutritional information about the product. ❖ This information can help to sell the product because it allows customers obtain information they need to make a decision. DIFFERENTIATION AND BRAND SUPPORT ❖ Differentiates one brand of product to another brand. ❖ Packaging can display companies name, logo, and colour scheme of its brand. ❖ If the product packaging changes, it may alter the brand perception of the company, does not mean that consumers will stop buying the product, but it may delay the purchase. PACKAGING -EVALUATION ❖ Needs to be fully integrated with the other elements so consumers gain a consistent message of the product. ❖ Needs to be environmental friendly. ❖ Most businesses are trying to balance the need to cut the volume and cost with the protection and ´emotional message´.