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Product-Brand-Strategy.ppt

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  PRODUCT AND BRAND STRATEGY Dr. Close  McGraw-Hill/Irwin©2009 The McGraw-Hill Companies, All Rights Reserved  Elements of Product Strategy  McGraw-Hill/Irwin©2009 The McGraw-Hill Companies, All Rights Reserved  Three Perspectives of a Product    Tangible product    –   Physical entity or service offered    Extended product    –   Tangible product along with   whole cluster of services that accompany it    Generic product    –   Essential benefits the buyer   expects to receive from the product ……Avoid Marketing myopia    –   Executives who view   their company’s product too narrowly by   overemphasizing the physical object itself   McGraw-Hill/Irwin©2009 The McGraw-Hill Companies, All Rights Reserved  Product Definition and   Classification    Product    –   The sum of the physical, psychological,   physiological, and sociological satisfactions the   buyer derives from purchase, ownership and   consumption    Two basic criteria for product classification    End use or market    Degree of processing or physical transformation
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