This document discusses key concepts related to products, services, and branding. It defines a product as anything that can satisfy a want or need and be offered for acquisition or consumption. Services are described as intangible activities or benefits offered for sale. Products and services are categorized as either consumer or industrial. The document outlines several characteristics of services, including intangibility, simultaneous production and consumption, and perishability. It also discusses three levels of products and services - core customer value, actual product, and augmented product. Finally, the summary discusses branding, including the definition of a brand as a name, symbol, or design that identifies a specific product. It notes there are decisions around brand positioning, name selection,

1. Product Equity
Advanced Marketing Management
Maribel C. Tubera
DBA Student

2. What is a product?
• It is anything that can be offered to a market
for attention, acquisition, use or consumption
that might satisfy a want or a need.

3. Service
• An activity, benefit, or satisfaction offered for
sale that is essentially intangible and does not
result in the ownership of anything.

4. 2 categories of products
1. Consumer products
2. Industrial products or Business products

5. Product and Service Classifications
1. Consumer products
a)
b)
c)
d)
Convenience products
Shopping products
Specialty products
Unsought products
2. Industrial Products or business products
a)
b)
c)
Materials and parts
Capital items
Supplies and services

6. Nature of a service
1. Service intangibility
2. Service variability
3. Service perishability

7. Service Characteristics
•
•
•
•
•
Intangibility
Simultaneous production and consumption
Perishability
Heterogeneity
Client-based relationship

8. 3 Levels of Product and Services
1. Core customer value
2. Actual product
3. Augmented product

9. Other market offerings
•
•
•
•
Organizations
Persons
Places
ideas

10. Individual Product Decisions
Product
Attributes
Branding
Packaging
Labeling
Product support
services

11. 4 ways to increase a business
1.
2.
3.
4.
Add new product line
Lengthen its existing product lines
Add more versions of each product
Pursue more product line consistency

12. Service profit chain
•
•
•
•
•
Internal service quality
Satisfied and productive service employees
Greater service value
Satisfied and loyal customers
Healthy service profits and growth

13. 3 types of service marketing
1. Internal marketing
2. External marketing
3. Interactive marketing

14. Stages in new product development
1.
2.
3.
4.
5.
6.
7.
8.
Idea generations
Idea screening
Concept development and testing
Marketing strategy development
Business analysis
Product development
Test marketing
Commercialization

15. 6 strategic options related to the newness of products
1.
2.
3.
4.
5.
6.
New-to-the World products
New product lines
Product line extensions
Improvements or revisions of existing products
Repositioning
Cost reductions

16. •
•
•
•
Customer-centered new product development
Team-based new product development
Systematic new-product development
new-product development in turbulent times

18. Brand Strategy

19. Brand
• A combination of name, symbol, term, and or
design that identifies a specific product.
2 parts of a brand
1. Brand name
2. Brand mark

21. Issues in branding strategy
• Manufacturer versus private label brands
• Brand loyalty – has 3 degrees
– Brand recognition
– Brand preference
– Brand insistence
• Brand equity – the value of a brand
• Brand alliances

22. Advantages of Branding
Overall advantages of branding
• Product identification
• Comparison shopping
• Shopping efficiency
• Risk reduction
• Product acceptance
• Enhanced self-image
• Enhanced product loyalty
Unique advantages of selling private
label (store) brands
•Less competition
•Total control
•Merchant loyalty
Unique advantages of selling
manufacturer ( Name) brands
•
•
•
•
•
Reduced costs
Built-in loyalty
Enhanced image
Lower inventory
Less risk

24. Major brand strategy decisions
Brand Positioning
Brand name selection
Attributes
Benefits
Beliefs and values
Selection
Protection
Brand sponsorship
Manufacturer’s brand
Private brand
Licensing
Co-branding
Brand development
Line extension
Brand extension
Multi brands
New brands

25. Brand Development
1.
2.
3.
4.
Line extensions
Brand extensions
Multibrands
New brands

26. Product life-cycle strategies
1.
2.
3.
4.
5.
Product development
Introduction
Growth
Maturity
Decline

28. END