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Transcript
The Tools of Marketing Product Price Distribution Marketing Communication Product * Design and Development * Branding * Packaging * Maintenance Distribution * Distribution channels *Market Coverage * Storage Four Elements of Marketing Price * Price Copy * Psychological Pricing * Price Lining * Value Determination Communication * Personal Selling * Advertising * Sales Promotion * Direct Marketing * Public Relations It is both the object of the advertising and the reason for marketing. What product attributes and benefits are important? How is the product perceived relative to competitive offerings? How important is service? How long should the product last? Customers view products as “bundles of satisfaction” rather than just physical things. What product name comes to mind when you picture a mobile phone? Do you think of a product name when you think of toothpaste? When you think of soy sauce, what product name occurs to you? The makers of products each one has mentioned, have advertised so successfully that their brand names become synonymous with the products themselves. Branding makes a product distinctive in the marketplace. A brand is a name, term, design, symbol that identifies the goods, services, institution or idea sold by a marketer. The brand name is the part of the brand that can be spoken such as words, letters or numbers. The brand mark, also known as the logo, is the part of the brand that cannot be spoken. (symbols, pictures, letterings, color combinations) When a brand name or brand mark is legally protected through registration (Intellectual Property Office), it becomes a trademark. Brand equity – reputation that a name or symbol connotes, synonymous with the company. Tangible Characteristics * Size * Features * Color * Durability * Package * Taste * Others The Product Message Strategy to Represent the Product Advertising Message Product Interpretation and Evaluation by Customer Intangible Characteristics * Style * Quality * Image *Prestige * Warranty * Brand Name *Others Activity Think of a brand (name, mark) for the product Identify its specific tangible and intangible characteristics. Be able to explain the rationale behind all these and present in class.
