Product services place_strategy
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Product services place_strategy
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Product services place_strategy
- 1. Product and Services Strategy Place Strategy
- 9. Levels of Product Core benefit or service Augmented product Actual Product (features) Core Product (benefits) Installation Warranty After-sale service Delivery and credit Packaging Brand name Features Quality level Design Figure 8-1
- 16. Brand Equity Brand association Brand loyalty Brand awareness Perceived quality Source: Reprinted with permission of The Free Press, a Division of Simon & Schuster Adult Publishing Group, from Brand Leadership, by David A. Aaker and Erich Joachimsthaler, p. 17. Copyright © 2000 by David A. Aaker andErich Joachimsthaler. 10-11 Brand Equity
- 19. Characteristics of Services Intangibility Cannot be seen, tasted, felt or smelled before purchasing Variability Service quality depends on who provides and under what conditions Inseparability Production and, consumption, and from the provider Perishability Cannot be stored, for resale or later use Figure 8-5
- 23. Break
- 26. New Product Adoption Rates Time of adoption of innovations 2.5% Innovators 34% Early majority 34% Late majority Early adopters 13.5% 16% Laggards Source: reprinted with permission of the Free Press, a Division of Simon & Schuster, from Diffusion of Innovations, Fourth Edition, by E.M. Rugers, 1983. Figure 6-5
- 28. Product Life-Cycle Strategies Profits Sales Development Introduction Growth Maturity Decline Sales Profit ($) Loss ($) Figure 9-2
- 29. Summary of PLC/Marketing Mix Table 9-2
Notas do Editor
- Now that we have learned about overall strategy – ,determined a business opportunity, selected target markets and a positioning we will delve into the marketing mix and look at the tactical tools that marketers use to implement their strategies.
- Handout and explain revised course contract. Take attendance. Ask them how they feel about this and try to make them feel positive about being successful.
- BE is the positive differential effect that knowing the brand name has on customer response to the to the product/service. A measure of equity ti the extent to which a customer is willing to pay more for the product. Brand valuation can be an asset on a Balance sheet Coca cola estimated to be worth $69 billion US Brand equity is an intangible asset, which must be carefully managed to protect its value Used for product and line extensions Brand equity is also based on: Patent protection Trademark copyrights – need to register in every country Channel relationships
- Brand marketers must develop all five factors to make a brand robust. Consumers are becoming more value sensitive. When they buy on price they do so as they Feel there is little difference in the lower and higher priced products. To command a higher price you need to create and communicate value though features, style and added benefits. Don’t forget the 3 kinds of buyers – only 2 types are value conscious The strictly price conscious The buyer who will pay a little more for better quality or service but up to a limit The buyer who wants the best quality and service Source: According to Kotler
- The other level is rejection
- Canada is a service economy – about 70% of our GDP and growing So need to market differently Intangible – need to send signals about service quality – e.g. storefront, uniforms. Logo etc Insparablity – provider and customer interaction Variability – training, consistency procedures Perishability- off season process
- Answers: Intangibility – advertising, signs, uniforms, the planes décor Perishability – lower fares for non peak times Inseparabiltiy – well trained and motivated staff who are committed to giving customers a great service- employee ownership Variablity – extnsive trainng, procedures manuals
- Services marketing involves a lot of internal marketing.