PRODUCTS Things / services that are produced for sale.

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

PRODUCT LINES

- groups of related products made by the same company

- in different sizes, models

PRODUCT MIX

combination of all products

PHYSICAL PRODUCTS CAN BE SUPPORTED BY

CUSTOMER ADVICE DELIVERY CREDIT FACILITIES WARRANTY (GUARANTEE) MAINTENANCE AFTER – SALES SERVICE

BRAND

name symbol logo design packaging

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)

CUSTOMERS

loyal customers

brand switchers

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?