PRODUCTS Things / services that are produced for sale.
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Transcript of PRODUCTS Things / services that are produced for sale.
WHAT IS A PRODUCT?
physical objects services leisure activities people (politicians, sportsmen, actors) places (holiday resources) organizations (hospitals, colleges) ideas
FOR SALE
PHYSICAL PRODUCTS CAN BE SUPPORTED BY
CUSTOMER ADVICE DELIVERY CREDIT FACILITIES WARRANTY (GUARANTEE) MAINTENANCE AFTER – SALES SERVICE
BRAND NAME
Type of product manufactured by a particularcompany
1. Corporate branding the name of the company on all products 2. Individual branding various products under individual brand names (multi-brand strategy)
Usual working day
Wake upSony-Ericsson, Colgate, Nescafe, Danone, OrbitRenault, Compaq, Sony-Ericsson, Sony-Ericsson, Sony-EricssonMcDonalds, Coca-Cola, OrbitCompaq, Sony-Ericsson, Sony-Ericsson, Sony-Ericsson, RenaultTuborgTuborgTuborg-Tuborg-TuborgSony-Ericsson....Sony-EricssonDurexColgateDay is over
BRANDADVERTISING
B2B (Business-to-Business) –
materials, components
B2C (Business-to-Consumers)
consumer goods
ADVANTAGES OF BUILDING UP A BRAND
brands encourage customer loyalty customers are willing to pay higher prices good brands are worth a lot of money you can do brand stretching (extend to a new type of product, break into a crowded market) you can take a brand down-market (introduce new products at lower prices to capture a broader market)
A company’s market value =
the combined price of all its shares
BRAND VALUE =
market value + customer loyalty
1. MK: p: 61, Vocabulary
2. What lines of products does “Kraš” produce?
________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
3. FILL IN THE GAPS:
brand identity, brand recognition, generic products, brand image, brand
A _______ is a name a company gives to its products so they can be easily
recognized. Brand awareness or __________________is how much people
recognize a brand. The ideas people have about a brand is its __________.
Branding is creating brands and keeping them in customers’ minds through
advertising, packaging, etc. A brand should have a clear _____________so
that people think of it in a particular way in relation to other brands. Products
that are not branded, those that do not have a brand name, are
________________or generics.
(taken from: Bill Mascull: Business Vocabulary in Use)
http://www.youtube.com/watch?v=vOT07BUo9jY&feature=fvwrel
4. Answer the following questions:
1. What is a brand?
2. What do you need to know to develop a successful brand?
3. What factors help your customers “see” your products?
4. What does the word “brand” include?
5. What are brand values?
6. What does “demographic” refer to?
7. What does the word “tangible“ refer to in marketing?
8. What are intangible benefits?
9. What is a focus group?
10. What is brand awareness?
11. What is brand recognition?
12. What is a trademark or logo? What can be trademarks?
13. What is a company’s corporate identity?
14. What can these visual elements include?