Prensented By:ashutosh Pratap Singh Rohitash Kalra

PRENSENTED BY:ASHUTOSH PRATAP SINGH ROHITASH KALRA

Basic Product Concepts A product is a goods, service, or idea Tangible Attributes Intangible Attributes Product classification Consumer goods Industrial goods

Product Types Buyer orientation Amount of effort expended on purchase Convenience Shopping Specialty

Brands Bundle of images and experiences in the

customer’s mind A promise made by a particular company about a particular product A quality certification Differentiation between competing products The sum of impressions about a brand is the Brand Image

What is a Brand?  It’s the company’s definition of what

they have to offer. A brand is a product that has a personality. A promise to the customer. What the customer knows about your specific product.  It’s your image.  How the company or product is perceived?

What is a Brand?  A set of product perceptions by the

consumer. It is a personality developed over time. A brand signifies a relationship with the customer.  It is the company’s most valuable asset.  It’s also the main differentiator, the best defense against price competition, and the key to customer loyalty.  Competitors can copy your features and benefits, but they can’t steal your brand. It’s a promise.  But it must be backed up by performance.

Product

vs.

Brand 

A product is

A brand is something

A product can be

that is bought by a customer A brand is unique.

something that is made in a factory   copied by a competitor. 

A product can be

quickly outdated.    

A successful brand is

timeless

Local Products and Brands Brands that have achieved success

in a single national market Represent the lifeblood of domestic companies Entrenched local products/brands can be a significant competitive hurdle to global companies

Global Products and Brands Global products meet the wants

and needs of a global market and is offered in all world regions Global brands have the same name and similar image and positioning throughout the world

Global Products and Brands A multinational has operations in different countries. A global company views the world as a single country. We know Argentina and France are different, but we treat them the same. We sell them the same products, we use the same production methods, we have the same corporate policies. We even use the same advertising—in a different language, of course. - Alfred Zeien Former Gillette CEO

What is a Brand? & Brand Identification A brand is much more than a name—it’s

a symbol, trademark, logo, term, sign, design or combination, which distinguishes a product from others. Sets a company’s products apart from competition. It’s the perception of the product in the minds of the consumers Your first opportunity is in the name. Easier to order and remember.   Most important is consistency—globally too. 

What is a Brand? & Brand Identification -2Examples: 1.    Mercedes promises well-built, prestigious, safety, performance.

2.    Co branding/Dual branding: "Intel inside."

What is a Brand? & Brand Identification -3More Examples: 4.    Need to keep it fresh. Look at Coca-Cola. Its image is as fresh today as when it started. It’s not luck. It’s careful nurturing and development of the brand. Can exploit brand equity with brand extensions, if there is value.

What is a Brand? & Brand Identification -4A brand can convey: Attributes + Benefits + Values + Culture + Personality

Seller’s promise to deliver a specific

set of features.

Brand equity is the value a brand

adds to the product.