MKT 305
Elements of
Product Planning
for Goods and
Services
Chapter 8
John Weiss
Learning
Objectives
• Know the basic concepts
associated with
“product.”
• Understand how
products and services
differ.
• Look into why branding is
so important in product
strategy.
• Examine product class
use in marketing strategy
Product Decisions for Marketing
Strategy Planning (Exhibit 8-1)
Chapter 9
Chapter 8 Elements of
Product Management
Product Planning for
and New-Product
Goods and Services
Development
Product Product
Branding Packaging
idea classes
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instructor use in the classroom.
The Core Product – The benefits it
provides
The Actual Product – The tangible
The Product and specific features
Components
The Augmented Product – Intangible
parts of the product offering, such a
warranties, delivery time, etc.
Examples of Product Assortment,
Product Line and Individual Product
(Exhibit 8-2)
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The Product/Services Continuum
Restaurant
Canned soup, meal, cell Satellite radio,
steel pipe, phone, hair styling,
paper towels automobile postal service
tune-up
100% 100%
physical service
good emphasis
emphasis Blend of
physical
good and
service
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instructor use in the classroom.
Differences of Services vs.
Goods
• Intangible
• Inseparable
• Perishable
• Services added to Goods can
Differentiate the Product Offering
What Can a
Brand Include?
• Name
• Term
• Design
• Color
• Symbol
• Any Other Identifying Feature
(Ex: Shape of a Package)
Conditions Favorable to Branding
Product
quality and
Easy to best value Dependable,
label and widespread
identify availability
Key
Issues
Favorable
shelf or Market price
display space can be high
Economies
of scale
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instructor use in the classroom.
Recognized Trademarks and Symbols
Help in Promotion (Exhibit 8-5)
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Achieving Brand Familiarity is Not Easy
Brand
Insistence
Brand
Preference
Brand
Recognition
Brand Non-
Recognition
Brand Rejection
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instructor use in the classroom.
Brand Familiarity?
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instructor use in the classroom. ©Jessica Kirsh/Shutterstock RF
Characteristics of a Good
Brand Name (Exhibit 8-6)
• Short and simple • Suggestive of product benefits
• Easy to spell and read • Adaptable to packaging/labeling
needs
• Easy to recognize and remember • No undesirable imagery
• Easy to pronounce • Always timely (does not go out
of date)
• Can be pronounced in only one • Adaptable to any advertising
way medium
• Can be pronounced in all • Legally available for use (not in
languages (for international use by another firm)
markets)
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instructor use in the classroom.
Different Types of Branding (Exhibit 8-7)
Family brand Licensed brand
What kind of brand Individual brand
to use?
Generic brand
Branding
questions
Manufacturer
Who should do the brands Battle of
branding? the
Dealer brands Brands
(private brands)
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instructor use in the classroom.
What Can
Packaging Do?
• Promote the Product
• Protect the Product
• Enhance the Product
Consumer Product Classes
Staples
Convenience
Impulse
Products
Emergency
Homogeneous
Shopping Products
Heterogeneous
Specialty Products
New Unsought
Unsought Products
Regularly Unsought
