Poma PPT Slides-Chapter 8-171868

Principles of Marketing: An Asian
Perspective
Instructor Supplements
Created by Geoffrey da Silva
Product, Services, and Branding Strategy
2012 Principles of Marketing: An Asian Perspective
Chapter 8 Outline
8.1
8.2
8.3
8.4
What is a Product?
Product Decisions
Branding Strategy: Building Strong Brands
Services Marketing
Opening Case
LOral: Brand Building in India
LOrals India strategy is

explained as follows: to
recruit more faithful
customers to our brands
through innovative
products and categories.
Our aim is to
continuously provide
something new to our
customers (while) helping
each of our brands attain
leadership positions in
the respective segments.
8.1
What is a Product?
8.1
8.1 What is a Product?
A product is anything that can be offered to a market for attention,

acquisition, use, or consumption that might satisfy a want or need.
Broadly defined, products also include services, events, persons,

places, organizations, ideas, or mixes of these.
Product
Tangible
GOODS
Intangible
SERVICES
Services
Services are a form of product

that consists of activities,
benefits, or satisfactions
offered for sale that are
essentially intangible and do
not result in the ownership of
anything.
10 2012 Principles of Marketing: An Asian Perspective
Products, Services, and Experiences
A companys market offering often includes both tangible goods and

services.
At one extreme, the offer may consist of a pure tangible good, such
as soap or toothpaste.
Products, Services, and Experiences
At the other extreme are pure services, for which the offer consists
primarily of a service.
To differentiate their offers, marketers are creating and managing

customer experiences with their brands or company.
The Product Experience
When you buy an iPad, you are buying

more than the physical product. You are
also buying the experience of using it,
as well as the emotion associated with
it.
The Serving Experience
Keeping in touch with

changing trends,
McDonalds in Malaysia
differentiates itself from
other fast-food restaurants
by providing an
atmosphere that
encourages people,
especially youngsters, to
spend time there while
enjoying the restaurants
food.
(www.mcdonalds.com.my)
Three Levels of Products
Levels of Products
Product planners need to think about products and services on three

levels.
Core customer value, which addresses the question, What is the
buyer really buying?
Actual product.
Augmented product, which is created around the core benefit and
actual product by offering additional consumer services and
benefits.
Levels of Products
People who buy an iPhone are buying more than

a wireless mobile phone, email and Webbrowsing device, or personal organizer. They are
buying freedom and on-the-go connectivity to
people and resources.
Levels of Products
When developing products, marketers first must identify the core

customer value that consumers seeks from the product.
They must then design the actual product and find ways to augment
it in order to create this customer value and the most satisfying
customer experience.
Types of Products
Consumer products
Industrial products
Industrial products
are those purchased
for further processing
or for use in
conducting a business.
Consumer products are

products and services
bought by final consumers
for personal consumption.
Convenience Products
Convenience
products are consumer
that customers usually
buy frequently,
immediately, and with a
minimum of comparison
and buying effort.
Shopping Products
Shopping products
are less frequently
purchased consumer
that customers
compare carefully on
suitability, quality,
price, and style.

Specialty Products
Specialty products are consumer products and

services with unique characteristics or brand
identification for which a significant group of buyers
is willing to make a special purchase effort.

Unsought Products
Unsought products
are consumer products
that the consumer
either does not know
about or knows about
but does not normally
think of buying

Marketing Considerations for Consumer Products

Industrial Product

Raw Materials/Parts
Materials and parts include

raw materials and
manufactured materials
and parts.

Capital Items
Capital items are
industrial products that
aid in the buyers
production or
operations, including
installations and
accessory equipment.

Supplies/Services
Supplies and services
include operating
supplies and
maintenance and repair
services

Organization Marketing
Companies such as Tsingtao Beer and Speedo

have used sports personalities like Kobe Bryant
and Michael Phelps to endorse their products;
drawing attention to their brands..

Organization Marketing
Haier advertises that it wants to go

Haier and Higher.

Person Marketing
Person marketing
consists of activities
undertaken to create,
maintain, or change
attitudes or behavior
toward particular
people.

Place Marketing
Place marketing
involves activities
undertaken to create,
maintain, or change
attitudes or behavior
toward particular
places.

Place Marketing
Hong Kong and Shanghai are promoting

themselves as fun cities to attract the creative
elite.

Social Marketing
Social marketing is
the use of
commercial
marketing concepts
and tools in
programs designed
to bring about social
change.

Social Marketing
With smoking among female teens on the rise in

Malaysia, its Ministry of Health started an
antismoking campaign targeted at educating
youths about the harms of smoking.
(www.infosihat.gov.my/TakNak.html)

Reviewing the Key Concepts
Define product and the major classifications of products and services.
8.2
Product Decisions
8.2
8.2 Product Decisions
Individual Product Decisions
Product attributes
Quality
Features
Design
Product and Service Attributes
Developing a product or service involves defining the benefits that it

will offer. These benefits are communicated and delivered by
product attributes such as quality, features, and style and design.
Product Quality
Product Quality is creating customer value and satisfaction.
Total quality management (TQM) is an approach in which all the

companys people are involved in constantly improving the quality
of products, services, and business processes.
2 Dimensions of Product Quality
Product quality has two dimensions: level and consistency.
The quality level means performance quality or the ability of a

product to perform its functions.
Quality conformance means quality consistency, freedom from

defects, and consistency in delivering a targeted level of
performance.
Product Features
Product Features are a competitive tool for differentiating the

companys product from competitors products.
The company should periodically survey buyers who have used the
product and ask these questions: How do you like the product?
Which specific features of the product do you like most? Which
features could we add to improve the product?
Product Features
This green Teaflavored Coke contains

antioxidants called catechins, and targets healthconscious women in their 20s and 30s.
Product Style and Design

Product Style and
Design is another way
to add customer
value.
Style describes the
appearance of a
product. Design
contributes to a
products usefulness
as well as to its looks.
Product Style and Design:

Samsung versus LG
Design is the battleground that Samsung and

Lg are facing off on. Both are using design to
keep them within the top three of the global
mobile phone market. Formerly, Lg generally
concentrated on originality, sometimes being
quite eccentric, while Samsung focused on
understated minimalism. However, of late,
Samsung has been placing more emphasis on
style and fashion. Its galaxy S and Tab have been
lauded and met with success. This orientation
towards design has extended to consumer
durables. Lg revamped its frost-free refrigerators
to include stylish diamond cuts, sleekly-designed
handles, a dual-tone finish, and linear colors
Branding
A brand is a name, term, sign, symbol, or design, or a combination
of these, that identifies the maker or seller of a product or service.
Benefits of Branding to Customers

Brand
names help consumers identify products that might benefit
them.
Brands
say something about product quality and consistency.
Benefits of Branding to Sellers

The
brand name becomes the basis on which a whole story can be

built about a product.
The
brand name and trademark provide legal protection for unique

product features.
The
brand name helps the seller to segment markets.
Advantages of Branding
Advantages of Branding
The Japanese minimalist clothing chain, Muji, has

attained a cult status as a brandless brand.
Improving Brand Image
To improve its image, China

launched a Made in China,
Made with the World campaign
to change perceptions that its
products are unsafe.
Packaging
Packaging involves
designing and producing
the container or wrapper
for a product.
Innovative Packaging
This can give a company an advantage over

competitors and boost sales. When Heinz
inverted the good old ketchup bottle, sales grew
at three times the industry rate the following
year.
Labeling
Labels perform several functions.
The
label identifies the product or brand.
The
label describes several things

about the product.
The
label promotes the brand.
Labeling
I LOHAS stands for I Lifestyle of Health and

Sustainability. This mineral water bottle by
Coca-Cola promotes environmentalism.
Support services
Support services
Companies
must continually assess the value of current services to obtain

ideas for new ones. They also need to develop a package of services to satisfy
customers and provide profit to the company.
Next,
the company can take steps to fix problems and add new
services that will both delight customers and yield profits to the
company.
Support services
Samsung goes the extra mile in services for its

high-end products.
Support services
Many companies are now
using a sophisticated mix of
interactive technologies to
provide support services that
were not possible before. For
example, at the Scion Web
site, clicking the Scion Chat
button puts you in real-time
touch with someone who can
answer your questions or help
you design your own
personalized Scion.
(www.scion.com)
Product Line Decisions
Product Line/Mix
A product line is a
group of products
that are closely
related because they
function in a similar
manner, are sold to
the same customer
groups, are marketed
through the same
types of outlets, or
fall within given price
ranges.
Product width/length
PRODUCT LINE LENGTH
PRODUCT MIX WIDTH
Product Lines
Product
line length is the number of items in the product line.
Product
line filling involves adding more items within the present

range of the line.
Product
line stretching occurs when a company lengthens its product

line beyond its current range.
Product Lines
BrANDS has a long product
line for different needs BrANDS
essence of Chicken with Cordyceps for
energy; BrANDS essence of Chicken
with ginseng for stamina; BrANDS
essence of Chicken with Lingzhi and
BrANDS essence of Chicken with
Tangkwei for general well-being;
BrANDS Sesamin with Schisandra for
liver health; BrANDS Calcium Plus
and BrANDS glucosamine for bones
and joints; among others.
Reasons for
Product Line Decisions
Product Line Stretching

Companies
located at the upper end of the market can stretch their lines
downward.
Companies
located at the lower end of the market can stretch their

product lines upward.
Companies
located in the middle range of the market can stretch their

lines in both directions.
Product Line Stretching
Marriot offers a full line of

hotel brands, each aimed
at a different target
market.
Product Line Filling
Eversoft Infinite fills the

needs of a young
segment who wants
anti-ageing products. To
differentiate this from its
existing products,
eversoft used
Charmaine Sheh, a
mature but youthfullooking celebrity, to
endorse the product.
Product Mix Decisions

Product
mix (or product portfolio) consists of all the product lines

and items that a particular seller offers for sale.
A
companys product mix has four dimensions: width, length,

depth, and consistency.
Product Mix Dimensions

1.Product
mix width refers to the number of different product lines the company
carries.
2.Product mix length refers to the total number of items the company carries
within its product lines.
3.Product mix depth refers to the number of versions offered of each product in the
line.
4.Product mix consistency refers to how closely related the various product lines
are in end use, production requirements, distribution channels, or some other way.
Product Mix Depth
Colgate toothpaste
comes in many
varieties.
(www.colgate.com)
A company can increase its business in four ways in terms of its product
mix:
It
can add new product lines, widening its product mix.
It
can lengthen its existing product lines.
It
can add more versions of each product, deepening its product mix.
It
can pursue more product line consistency.

Describe the decisions companies make regarding their individual
products, product lines, and product mixes.
8.3
Branding Strategy: Building Strong Brands
8.3
8.3 Branding Strategy: Building Strong Brands
Some analysts see brands as the major enduring asset of a

company.
Brands are thus powerful assets that must be carefully developed

and managed.
Brand equity
Brands are more than just names and symbols. They are a key
element in the companys relationships with consumers.
Brands represent consumers perceptions and feelings about a

product and its performanceeverything that the product or service
means to consumers.
The real value of a strong brand is its power to capture consumer

preference and loyalty.
Brand equity
Brands vary in the amount of power and value they have in the
marketplace.
Some brandssuch as Apple, Nike, Harley-Davidson, and Disney
become larger-than-life icons that maintain their power in the
market for years, even generations.
These brands win in the marketplace not simply because they deliver
unique benefits or reliable service.
Rather, they succeed because they forge deep connections with
customers.
Brand equity
Brand Equity is
the differential
effect that
knowing the
brand name has
on customer
response to the
product and its
marketing
Brand equity
A brand has positive brand equity when consumers react more

favorably to it than to a generic version of the same product. It has
negative brand equity if consumers react less favorably than to an
unbranded version.
Brands vary in their power and value in the marketplace. Not only do
strong brands like Coca-Cola, Google, YouTube, Apple, and Wikipedia
deliver unique benefits, they forge deep connections with customers.
Brand equity
Consumers respond to the brand; they know about and understand

it.
That familiarity leads to a strong, positive consumerbrand

connection (see Real Marketing 8.1).
Brand equity
Brand equity
3D screens by LG at the IFA

consumer electronics show IFA
2009 in Berlin.
Brand evaluation
Brand valuation is the process of estimating the total financial value
of a brand.
Samsung has shed its image as a low-quality

brand to one with inspiring designs and high
quality
Competitive advantages of a strong brand equity:

High brand equity provides a company with many competitive
advantages.
1. High
level of consumer brand awareness and loyalty

2. More leverage in bargaining with resellers
3. More easily launch line and brand extensions
4. Defense against fierce price competition
5. Forms the basis for building strong and profitable customer
relationships
Customer Equity
The fundamental asset underlying brand equity is customer equity

the value of the customer relationships that the brand creates.
A powerful brand is important, but what it really represents is a
profitable set of loyal customers.
The proper focus of marketing is building customer equity, with
brand management serving as a major marketing tool.
Says one marketing expert, Companies need to be thought of as
portfolios of customers and not portfolios of products.
Building Strong Brands
Major Brand Strategy Decisions
Brand Positioning
Marketers can position brands at any of three levels.
1.They
can position the brand on product attributes.

2.They can position the brand with a desirable benefit.
3.They can position the brand on beliefs and values.
Brand Positioning
The strongest brands go beyond

attribute or benefit positioning.
Nintendos Wii engages customers
on a deeper level, touching
universal emotions.
Brand Positioning
Procter & gamble understands

that especially to Chinese
parents, a babys brain
development is important. Thus,
it associated this concern with
sleep, a benefit that its Pampers
provide. Babies wearing
Pampers sleep longer than
babies who dont.
Brand positioning- mission, vision and promise

When
positioning a brand, the marketer should establish a mission for

the brand and a vision of what the brand must be and do.
A brand is the companys promise to deliver a specific set of features,
benefits, services, and experiences consistently to the buyers.
The brand promise must be simple and honest.
A motel, for example, offers clean rooms, low prices, and good
service but does not promise expensive furniture or large bathrooms.
In contrast, The Grand Hyatt offers luxurious rooms and a truly
memorable experience but does not promise low prices.
Good Brand Name
SUGGEST BENEFITS
EASY TO SAY/SPELL/READ
DISTINCTIVE
EXTENDABLE
WORKS WORLDWIDE
CAN BE LEGALLY PROTECTED
Good Brand Name

Desirable qualities for a brand name include the following:
1.It should suggest something about the products benefits and
qualities.
2.It should be easy to pronounce, recognize, and remember.
3.The brand name should be distinctive.
4.It should be extendable.
5.The name should translate easily into foreign languages.
6.It should be capable of registration and legal protection.
Challenges of using global brands in foreign countries:

Suzuki
sounds like lose all your money in Hokkien, a Chinese
dialect.
Hyatt
does not translate easily and confers no meaning in China. So

the company used the name Yue ( ) which means Imperial, an
identification which many Chinese aspire to be aligned with. It then
came up with courtly variations to match its sub-brands: Kai Yue (
), Jun Yue ( ), and Bo Yue ( ) for the Regency, Grand, and
Park Hyatt respectively
Brand Name Selection
The Modern Toilet restaurant in Hong Kong has a distinctive and

arresting name. The restaurant has its chairs and cutlery in the form of
toilet amenities. But what does one think of eating with sanitary wares?
Brand Name Protection

Once
chosen, the brand name must be protected.

A brand name cannot be registered if it infringes on existing brand
names.
In China, Starbucks successfully won the copyright battle against a
Chinese chain, Shanghai Xingbake Coffee Company ( ),
which copied its logo and name. Xing Ba Ke sounded phonetically
similar to the pronunciation of Starbucks in Chinese.
Xing means star in Chinese and Ba Ke is the phonetical
equivalent of bucks. Shanghai Xingbakes green-and-white logo was
also very similar to the Starbucks design
Because of lax brand name protection, some

Indian vendors played on the name google to
brand their ice candy gogola.
Brands becoming generic
Many firms try to build a brand name that will eventually become
identified with the product category.
Brand names such as Kleenex, Levis, Scotch Tape, and Ziploc have
succeeded in this.
However, their very success may threaten the companys rights to

the name.
Brands becoming generic

Many
originally protected brand namessuch as cellophane, aspirin,

nylon, kerosene, yo-yo, trampoline, escalator, and thermosare now
generic names that any seller can use.
To
protect their brands, marketers present them carefully using the

word brand and the registered trademark symbol, as in BAND-AID
Brand Adhesive Bandages.
Care in naming brands in Asia

Previously,
Citibank had two different Chinese names. In China and

Taiwan, Citibank is , meaning Bank of Flower Flag.
This
is the old name of the American flag because it has lots of stars,
stripes, and colors, and looks like a flower.
In
the 20 century, the American flag placed at each Citibank branch

was recognized by the Chinese as the symbol of Citibank, and hence
the name Bank of Flower Flag.
th
Care in naming brands in Asia

In
Hong Kong, Singapore, and other

Chinese communities like greater
New York, Citibanks Chinese name
was .
This name is the direct translation of
International Banking Corporation,
one of the predecessors of Citibank.
In 2001,Citibank unified its Chinese
names to .
Brand Sponsorship
Brand Sponsorship
A manufacturer has four sponsorship options.
1. The
product may be launched as a manufacturers brand (or national

brand).
2. The manufacturer may sell to resellers who give it a private brand
(also called a store brand or distributor brand).
3. The manufacturer can market licensed brands.
4. Two companies can join forces and co-brand a product.
Manufacturers Brands versus Private Brands
Manufacturers brands have long dominated the retail scene.
In recent times, an increasing number of retailers and wholesalers

have created their own store brands (or private brands).
Recent tougher economic times have created a store-brand boom.
Private Brands
Hong Kongs Watsons convenience
store chain has branded bottled
water, swabs, tissue paper, and
other sundries under its own
name.
Battle of the Brands

In the battle of the brands between national and private brands,
retailers have many advantages.
a) Retailers
often price their store brands lower than comparable

national brands.
b) Store brands yield higher profit margins for the reseller.
c) Store brands give resellers exclusive products that cannot be bought
from competitors.
Licensing
Most manufacturers take years and spend millions to create their

own brand names.
However, some companies license

names or symbols previously created
by other manufacturers, names of
well-known celebrities, or characters
from popular movies and books.
For a fee, any of these can provide
an instant and proven brand name.
Co-branding
Co-branding occurs when established brand names of two different

companies are used on the same product.
For example, American Express co-branded with Singapore Airlines
to create a card for the latters
Singapore-based PPS Club members.
In most co-branding situations, one
company licenses another companys
well-known brand to use in combination
with its own.
Advantages of Co-branding
The combined brands create broader consumer appeal and greater

brand equity.
Co-branding also allows a company to expand its existing brand into

a category it might otherwise have difficulty entering alone.
Limitations of Co-branding
Such relationships involve complex legal contracts and licenses.
Co-branding partners must carefully coordinate their advertising,

sales promotion, and other marketing efforts.
Each partner must trust the other will take good care of its brand.
Brand Development Strategy
A company has four choices when it comes to developing brands
Brand Development Strategies

1. Line
extensions occur when a company extends existing brand

names to new forms, colors, sizes, ingredients, or flavors of an
existing product category.
2. Brand extensions extend a current brand name to new or modified
products in a new category.
3. Multi-branding introduces additional brands in the same product
category.
4. New brands
Line Extension Strategy
There are many different types of CocaCola available. Visit

www.virtualvender.coca-cola.com to
find out which types are being sold in
various regions around the world.
Brand Extension Strategy
Giorgio Armani has

extended its brand to
bookshops carrying
childrens books, like
this one located in
Hong Kong.
Multi-brands
Companies often introduce additional brands
in the same category. Thus, Procter & Gamble
markets many different brands in each of its
product categories. Multibranding offers a way
to establish different features and appeal to
different buying motives. It also allows a
company to lock up more reseller shelf space.
LOral markets at least 14 different brands in
China, grouping them in various pricing bands.
Limitations of Multi-branding Strategy
A major drawback of multi-branding is that each brand might obtain

only a small market share, and none may be very profitable.
The company may end up spreading its resources over many brands
instead of building a few brands to a highly profitable level.
These companies should reduce the number of brands they sell in a

given category and set up tighter screening procedures for new
brands.
Managing Brands- Positioning
Companies must manage their brands carefully.
The brands positioning must be continuously communicated to

consumers.
Major brand marketers often spend huge amounts on advertising to

create brand awareness and to build preference and loyalty.
Managing Brands and Internal Staff
A brands positioning will not fully take hold unless everyone in the
company lives the brand.
Therefore, the company needs to train its people to be customercentered.
Better yet, the company should carry on internal brand building to

help employees understand and be enthusiastic about the brand
promise.
Managing Brands and Internal Staff
Many companies go a step further

by training and encouraging their
distributors and dealers to serve
their customers well.
Isetan and Singapore Airlines have

succeeded in turning their employees
into enthusiastic brand builders.
Managing Brands The Brand Audit
Companies need to periodically audit their brands strengths and

weaknesses. They need to examine the following:
Does our brand excel at delivering benefits that consumers truly
value?
Is the brand properly positioned?
Do all of our consumer touch points support the brands
positioning?
Do the brands managers understand what the brand means to
consumers?
Does the brand receive proper, sustained support?
Managing Brands The Brand Audit
The brand audit may reveal brands that need more support, brands
that need to be dropped, or brands that must be rebranded or
repositioned because of changing customer preferences or new
competitors.
Re-branding
Re-branding may also be required when major corporate

developments such as mergers and acquisitions occur, as shown by
the following example about SoftBank
Re-branding
SoftBank launched a rebranding

campaign after its takeover of
Vodafone.

Discuss branding strategythe decisions companies make in building
and managing their brands.
8.4
Services Marketing
8.4
8.4 Services Marketing
Four Service Characteristics
Service Characteristics
1. Service
intangibility means that services cannot be seen, tasted,

felt, heard, or smelled before they are bought.
2. Service
inseparability means that services cannot be separated

from their providers, whether the providers are people or machines.
Because the customer is also present as the service is produced,
provider-customer interaction is a special feature of services
marketing
Service Characteristics
3. Service
variability means that the quality of services depends on

who provides them as well as when, where, and how they are
provided.
4. Service
perishability means that services cannot be stored for

later sale or use.
Service-Profit Chain
GROWTH AND
PROFIT
SATISFIED LOYAL
CUSTOMERS
GREATER SERVICE
VALUE
PRODUCTIVE
EMPLOYEES
INTERNAL SERVICE
QUALITY
Service Profit Chain (consists of five links)

1. Internal
service qualitysuperior employee selection and training, a

quality work environment, and strong support for those dealing with
customers, which results in...
2. Satisfied
and productive service employeesmore satisfied, loyal,

and hardworking employees, which results in...
3. Greater
service valuemore effective and efficient customer value

creation and service delivery, which results in...
Service Profit Chain (consists of five links)

4. Satisfied
and loyal customerssatisfied customers who remain loyal,

repeat purchase, and refer other customers, which results in...
5. Healthy
service profits and growthsuperior service
Service Profit Chain: Satisfied and productive service

employees
Four Seasons Hotel Amman prides

itself on making its employees
satisfied. It believes that happy
employees make for happy
customers.
Service Marketing Strategies

Service marketing requires internal marketing and interactive
marketing.
Internal Marketing
Internal marketing
means that the
service firm must
orient and motivate
its customer-contact
employees and
supporting service
people to work as a
team to provide
customer satisfaction.
Interactive Marketing
Interactive marketing
means that service quality
depends heavily on the
quality of the buyer-seller
interaction during the service
encounter.
3 Key Services Marketing Tasks

Service Differentiation
Service Quality
Service Productivity
Managing Service Differentiation

Service
companies can differentiate their service delivery by having

more able and reliable customer-contact people, by developing a
superior physical environment in which the service product is
delivered, or by designing a superior delivery process.
Service
companies can work on differentiating their images through

symbols and branding.
Service Differentiation
The Westin Hotel in Kuala Lumpur offers

complimentary refreshing drinks in its lobby as a
courtesy to its guests.
Managing Service Quality

Service
quality is harder to define and judge than product quality.
Service
quality will always vary, depending on the interactions

between employees and customers.
Good
service recovery can turn angry customers into loyal ones.
Managing Service Productivity

Service firms are under great pressure to increase service productivity.
a)They can train current employees better or hire new ones who will
work harder or more skillfully.
b)They can increase the quantity of their service by giving up some
quality.
c)They can harness the power of technology.
Balancing Service Quality and Service Productivity
It is important to strive for service

quality without pushing productivity
too hard.

Identify the four characteristics that affect the marketing of services
and the additional marketing considerations that services require.
Thank
you

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Principles of Marketing: An Asian

Product, Services, and Branding Strategy

2012 Principles of Marketing: An Asian Perspective

2012 Principles of Marketing: An Asian Perspective

LOrals India strategy is

2012 Principles of Marketing: An Asian Perspective

2012 Principles of Marketing: An Asian Perspective

8.1 What is a Product?

2012 Principles of Marketing: An Asian Perspective

8.1 What is a Product?

A product is anything that can be offered to a market for attention,

Broadly defined, products also include services, events, persons,

2012 Principles of Marketing: An Asian Perspective

8.1 What is a Product?

2012 Principles of Marketing: An Asian Perspective

8.1 What is a Product?

Services are a form of product

8.1 What is a Product?

Products, Services, and Experiences

A companys market offering often includes both tangible goods and

11 2012 Principles of Marketing: An Asian Perspective

8.1 What is a Product?

Products, Services, and Experiences

To differentiate their offers, marketers are creating and managing

12 2012 Principles of Marketing: An Asian Perspective

8.1 What is a Product?

The Product Experience

When you buy an iPad, you are buying

8.1 What is a Product?

The Serving Experience

Keeping in touch with

8.1 What is a Product?

Three Levels of Products

15 2012 Principles of Marketing: An Asian Perspective

8.1 What is a Product?

Product planners need to think about products and services on three

16 2012 Principles of Marketing: An Asian Perspective

8.1 What is a Product?

People who buy an iPhone are buying more than

17 2012 Principles of Marketing: An Asian Perspective

8.1 What is a Product?

When developing products, marketers first must identify the core

18 2012 Principles of Marketing: An Asian Perspective

8.1 What is a Product?

Consumer products are

8.1 What is a Product?

8.1 What is a Product?

8.1 What is a Product?

Specialty products are consumer products and

8.1 What is a Product?

8.1 What is a Product?

24 2012 Principles of Marketing: An Asian Perspective

8.1 What is a Product?

25 2012 Principles of Marketing: An Asian Perspective

8.1 What is a Product?

Materials and parts include

26 2012 Principles of Marketing: An Asian Perspective

8.1 What is a Product?

27 2012 Principles of Marketing: An Asian Perspective

8.1 What is a Product?

28 2012 Principles of Marketing: An Asian Perspective

8.1 What is a Product?

Companies such as Tsingtao Beer and Speedo