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Slide 1 To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 2 What is a Product? • “ … the need satisfying offering of a firm …” Translation • what you buy, that satisfies what you want to be able to do Page 299 9th edition Page 255 10th edition To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 3 What is a Product? • what you buy, that satisfies what you want to be able to do • it can be “good feeling” cause you bought some cosmetics and someone said you looked pretty • it could be a happy stomach cause you bought a meal that tasted great • it could be easier homework cause you bought new software for your computer To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 4 What is a Product? • “Most customers think about product in terms of the total satisfaction …” • this can lead to statements such as “we don’t sell cars, we sell safety ! “ • we don’t sell houses, we sell homes Page 256 To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 5 “… A product’s ability to satisfy a customer’s needs or requirements …” Quality is often tied in to comparison with what the competitor does at the same price - always important to remember the “Competitive Page 256 Environment” To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 6 Page 257-258 To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 7 Goods - things you can touch “tangible” Services - things you can’t touch - but you can see their effect “intangible” “… services are not physical, they are intangible…” To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 8 Service A Service is a type of a product. “… a deed performed by one party for another…” Discussions about the marketing of goods apply to services as well. Services have special characteristics that make them different than products. To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 9 Service A product without physical characteristics; a bundle of performance and symbolic attributes designed to produce consumer want satisfaction. Not in the text To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 10 Tangible / Intangible Attributes • Tangible – touch – see – taste – smell • Intangible – can’t see – can’t touch – can’t smell – can’t taste Not in the text To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 11 Goods and Services: Scale of Elemental Dominance To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created Not in the text and Copyright by Tim Richardson Slide 12 4 Characteristics of Services 1. Intangibility - “u can’t touch this” 2. Production (or performing the service) and Consumption (using the service) happens at the same time 3. Heterogeneity - services are not always delivered the same way 4. Perishability - cannot be put in inventory or stored for later use ie. You can’t buy 2 haircuts To accompany Not in the text Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 13 Characteristics of Services 1. Intangibility - “u can’t touch this” • Services cannot be stored • Services cannot be protected through patents - therefore a really great travel package and service can be copied a really great physical object can be patented, and NOT allowed to be copied Not in the text To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 14 Characteristics of Services 1. Intangibility - “u can’t touch this” • Hard to explain and display Services if you can’t see them • Prices are difficult to set - depends on customers expectations Not in the text To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 15 Characteristics of Services 1. Intangibility - “u can’t touch this” Marketing Strategies • stress tangible cues, eg. Smiling face • use personal information, sources, references • use word-of-mouth • contact customers after they buy to stimulate continued enthusiasm and hope they “talk it up” Not in the text To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 16 Characteristics of Services 2. Inseparability of Production (or performing the service) and Consumption (using the service) - happens at the same time • Many people involved in delivering a service • mass production of services is hard to do Not in the text To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 17 Characteristics of Services 2. Inseparability of Production (or performing the service) and Consumption (using the service) - happens at the same time Marketing Strategies • Emphasize how much you train your people - so their ability to give you good service will be high • Have many locations so customers can get to you Not in the text • ie. Insurance sales come to your home To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 18 Characteristics of Services 3. Heterogeneity - services are not always delivered the same way It is very difficult to standardize services eg. A machine can make ice cream cones a standard size 100% of the time A person filling an ice cream cone with a scoop cannot do it the same amount each time, unless you use a machine to dispense the ice cream Not in the text To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 19 Characteristics of Services 3. Heterogeneity - services are not always delivered the same way It is very difficult to standardize services eg. A Taxi driver cannot drive you to the office in exactly the same time each day because the traffic patterns change eg. A travel agent can sell you a vacation package - but cannot guarantee you will like the trip exactly the same way another tourist Not in the text did. To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 20 Characteristics of Services 4. Perishability - cannot be put in inventory or stored for later use ie. You can’t buy 2 haircuts Demand fluctuates and changes, sometimes depending on the season, or weather eg. Taxi in the rain, vacation in summer Not in the text To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 21 Product Mix / Product Lines • “a product assortment (mix) is all the product lines … that the company sells…” Page 260 10th edition Page 235 9th edition Page 302 8th edition To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 22 Product Mix / Product Lines Product Mix • The assortment of product lines and individual offerings available from a company. • the combination of product lines offered by the manufacturer To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 23 Product Mix / Product Lines Product Line • A series of related products • a group of products that are physically similar in performance, use or features and intended for a similar market • “… a set of products that are closely related …” To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 24 Product Lines Brands • shoes Nike, addidas, reebok, fila, new balance, british knight, brooks, converse, vans, asic, puma • notebooks toshiba, nec, TI, compaq, IBM, DELL • Apple, HP, Hitachi, Mitsubishi, Matsushita, To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 25 Service Providers service providers have product lines and product mixes as well examples • Mastercard • insurance • telephone services • cable services • ISPs - internet service providers Not in the text • airlines, first class, economy class • banks To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 26 Larkhill Group • Larkhill Clothing Manufacturing Inc. example of a company, and its product line Not in the text To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 27 L arkhill C lothing M anufacturing I nc. Azure-Dee Lingerie Promises Lingerie Night Fever Camisoles Camisoles G-strings Gowns Gowns bra/panty sets Robes Robes thongs Teddies the different product lines = the product mix of the whole company Tap pants To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 28 The Canada Packers Product Mix Width of Assortment Depth of Assortment Meats Groceries Nonedible Fresh meats Bacon Pepperoni Wieners Bologna Canned ham Poultry Kolbassa Garlic sausage Peanut butter By-products Mincemeat Soap Canned pumpkinHides Cheese Pharmaceutical raw Lard materials Shortening Not in the text To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 29 Cannibalization • Situation involving one product taking sales from another offering in a product line (Text) • Cannibalization occurs when sales of a new product cut into (reduce) the sales of a firm’s existing products. Not in the text To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 30 Industrial = Business To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 31 Consumer Goods and Services - are for consumers, the final customer Industrial Goods and Services - are used in making consumer goods and services Page 236 in 9th edition Industrial = Business To accompany Page 303 in 8th edition Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 32 Consumer Goods Classification of: 1. Convenience 2. Shopping 3. Specialty 4. Unsought Products Page 261 10th edition To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Consumer Goods Classification of: Slide 33 Different Classes • Convenience goods and services • things consumer wants to buy frequently • minimum effort, low risk • small amount of money, not much time • Shopping goods and services • “stuff” people buy after they “shop & compare” • Speciality goods and services • jewellery, special clothing • special entertainment • Unsought • things people don’t want to buy, but have to eg. Auto insurance, funeral plan To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 34 Classes of Consumer Products 14-1 Goods POP Convenience Shopping Specialty Impulse Products ATM Services $ $ Not in the text To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Consumer Goods Classification of: Slide 35 Different Classes • Convenience goods and services • things consumer wants to buy frequently • minimum effort, low risk • small amount of money, not much time To accompany three types 1. Staples - bought routinely 2. Impulse products - unplanned purchases 3. Emergency products - bought immediately Basic Marketing, Shapiro, 10th Cdn Ed. Page 261 ppt slides created and Copyright by Tim Richardson Consumer Goods Classification of: Slide 36 Different Classes • Shopping goods and services • “stuff” people buy after they “shop & compare” • they have the time to compare prices • Homogenous - stuff that is the same simply pick the lowest price eg. Condensed milk, • Heterogeneous - stuff that is different, so the customer will take time to compare features and prices - “some retailers carry competing brands” To accompany Page 261 Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Consumer Goods Classification of: Slide 37 Different Classes • Speciality goods and services • jewellery, special clothing • special entertainment • “Willingness to search, not extent of searching, makes it a specialty product” • if people are willing to look and look at different products, before they commit, it is a specialty item To accompany Page 261 Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Consumer Goods Classification of: Slide 38 Different Classes • Unsought • things people don’t want to buy, but have to eg. Auto insurance, funeral plan • the only way to sell this is to convince people of the benefit because the benefit is not easily seen by the average person. To accompany Page 261 Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 39 To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 40 Industrial Market / BUSINESS PRODUCTS “Individuals and organizations that acquire goods and services to be used, directly or indirectly, in the production of other goods and services or to be resold.” Beckman TEXT “People who buy stuff to make other things.” W.T.G.R. To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 41 - producers and manufacturers - trade industries (wholesalers and retailers) - governments Not in the text To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 42 • producers and manufacturers Those who transform goods and services, through production, into other goods and services • manufacturing firms (eg. Auto parts, computers) • farms • mining and forest industries • construction and building companies • service companies (trucking, air, rail) Not in the text • public utilities, banks, insurance companies To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 43 • Trade Industries (gong ye maoyi) • Organizations such as wholesalers and retailers that buy things for resale to customers • examples - lumber dealers, fabric wholesalers, building materials • metal and electrical products Not in the text To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 44 • Governments (zheng fu) • Federal Ministries and Crown Corporations, Provincial Ministeries and Crown Corporations, Municipal governments and agencies • examples: Dept. of Defense buying trucks from GM, Dept. of Revenue buying computers, Royal Canadian Mint buying paper and • Provincial agencies buy services such as snow clearance, Not in the text cellular phone service …... To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 45 1. Derived Demand means the demand is derived (or caused by, or linked to) demand for a consumer item - demand for lithium is “derived” from the demand for lithium batteries, which is in turn “derived” from the demand for cell phones - demand for wood pulp is derived from the demand for paper, which is derived from the increase in people printing on paper To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 46 2. Joint Demand means the demand is related to the demand for other industrial things eg. The demand for printer cartridges is linked to the demand for printer paper for services, the demand for Netscape 4.05 - is linked to the demand for an ISP account Not in the text To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 47 Classifying Industrial Products 1. Installations - major assets, factories, heavy machinery 2. Accessory Equipment - used in production - short-lived items eg. tools 3. Raw Materials 4. Component Parts and Materials - finished units which, when assembled, make the complete product 5. Maintenance, Supplies (MRO Items) - maintenance,- cleaning fluids 6. Professional Services - accounting firms,Shapiro, law firms To accompany Basic Marketing, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 48 Categories of Industrial Products 1. Capital Items Page 264 things that last a long time, and become less and less in value over time 2. Expense Items Page 264 - things that are used within a short period of time - some types of raw materials, office supplies, materials in production To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 49 Categories of Industrial Products 1. Capital Items ex - car - office building - machinery and equipment 2. Expense Items ex - gas for the car - washing the windows for the building - parts for the machinery To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 50 Categories of Industrial Products •Depreciation • The accounting concept for charging a portion of the cost of a capital item as a deduction against the company’s revenue - eg. 486 DX2 Office computer bought in 1995 - deduct $750 in 1995 - deduct $750 in 1996 etc. Not in the text To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 51 Various Classes of Consumer and Industrial Goods and Services G o o d s a n d S e r vic e s Consumer Goods Consumer Services Convenience Goods Shopping Goods Specialty Services Convenience Services eg. Mac's Milk eg. clothing eg. banking eg. fast foods eg. newspaper eg. groceries eg. travel raw material grain, steel Industrial Goods Industrial Services Production Goods Support Services component parts materials nuts, bolts accessory equipment tools, computers installations eg. buildings eg. circuit board eg. wiring harness Not in the text To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 52 Brand Trademark Brand Name Generic Name Page 314 To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 53 Page 269 To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 54 Brand A name, term, sign, symbol, or design (or some combination thereof) used to identify the products of one firm and to differentiate them from competitive offerings. Something used to show customers that one product is different than the products of another manufacturer. WTGR To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 55 Brand Name Words, letters, or symbols that make up a name used to identify and distinguish the firm’s offerings from those of its competitors. To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 56 Trademark Page 273 A brand that has been given legal protection and has been granted solely to its owner. “… words, symbols or marks that have been legally registered..” To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 57 Branding • Originally helped trace the source of the guild producer • In modern era, makes it easier to identify all the products from a particular company • Makes shopping easier • helps the companies launching new products To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 58 •Brand Familiarity (Recognition) Equity •Brand Preference / Loyalty •Brand Insistence __________________ •Brand Awareness •Brand Association Page 271 To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 59 Page 271 • Brand Recognition - awareness, loyalty, quality, emotion “customers remember the brand” • Brand Preference / Loyalty - the degree to which customers are committed to further purchases eg. “choose the brand over other brands” • Brand Insistence - “willing to search for it..”, andif they do not find the brand they want, WILL NOT but a substitute To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 60 Page 271 • Brand Equity - “… the value of a brand’s overall strength in the market …” To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 61 Most Valuable Global Brands Brands Brand value Not in the text 14-2 Coca Cola Marlboro $ 36 $ 33 Billion Billion Nescafe Kodak $ 11 $ 10 Billion Billion Microsoft Budweiser Kellogg's Motorola Gillette Bacardi $ 9.8 $ 9.7 $ 9.3 $ 9.2 $ 8.2 $ 7.1 Billion Billion Billion Billion Billion Billion To accompany Basic Marketing, Shapiro, 10th Cdn Ed. Source: Financial World ppt slides created and Copyright by Tim Richardson Slide 62 • Brand Awareness -your product is the first that comes to mind in a certain product category eg. Snapple ice tea, jeans-Levi’s, walkman SONY Not in the text To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 63 • Brand Association - the link to favourable images, celebrities, geographic regions ie. Red Strip - Jamaica, VW - Germany, Screech - NFLD Bailey’s - Eire • Paul Hogan - Subaru • James Earl Jones (voice of CNN) • Chihuahua - Taco Bell • Jordan - Nike • Julia Louis Dryfuss - Nice and Easy • Candice Bergen - Sprint Canada To accompany Not in the text Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 64 Brand Association - the link to favourable images, celebrities, geographic regions • white diamonds - liz taylor • BMW Z3 - 007 • roots hats - olympics • fubu - urban trend / hip hop • right guard - Sir Charles • Ru Paul - MAC Cosmetics • Seinfeld - AMEX Not in the text To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson • Brand Awareness -your product is the first that comes to mind in a certain product category eg. ice tea = Snapple, running shoes = Nike Slide 66 Terms brand trademark logo To accompany copyright Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 67 Terms page 273 Trademark • a brand that has been given exclusive legal protection - name and the design “… legal protection against any other company using a trademark that might be confused with its own …” To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 68 Terms copyright • music, or words that are given legal ownership by the author Not in the text To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 69 Manufacturer / National Brand Dealer / Private Brand Generic Name Brand Generic Goods Page 275 To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 70 Manufacturer / National Brand products that carry the name of the manufacturer “… brands created by the manufacturers…” ie. Maxwell House coffee ie. Philadelphia cream cheese To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 71 Dealer / Private Brand products that carry the name of the seller, not the manufacturer “… brands created by middlemen…” - brands used by the dealers that sell the products ie. MasterChoice coffee ie. IGA cream cheese To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 72 Generic Name Brand A brand name over which the original owner has lost exclusive claim because all offerings in the associated class of products have become generally known by the brand name (usually that of the first or leading brand in that product class). • names for product categories ie. Velcro is the brand “hooked fabric fastener” is the generic name ie. Xerox is the company “photocopy” is the generic name, - other examples???????? “rollerblades, Styrofoam” , Jello, Vaseline, Q-tips, Kleenex To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 73 Examples of the 3 differences between a 1. manufacturer/national brand, 2. a private brand and a 3. generic brand • Philadelphia Cream Cheese • IGA Cream Cheese • No Name brand cream cheese To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Packaging Slide 74 • An Important Part of the Product • • • • convinces people to buy protects the contents when shipped and handled adds to the value describes features, advantages and benefits of using product • contains Warranty Information • cautions and warnings about contents and misuse • UPC code and tax information (cigarettes) To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson Slide 75 PAGE 280 To accompany Basic Marketing, Shapiro, 10th Cdn Ed. ppt slides created and Copyright by Tim Richardson