product & service strategy & brand management

PRODUCT & SERVICE STRATEGY

BRAND MANAGEMENT

prepared by Selahattin CİRİTCİAdana Science and Technology University

Entrepreneurship Postgraduate26-10-2016

TYPES OF CONSUMER AND BUSINESS PRODUCTS

Consumer Products;

Business Products;

THE PRODUCT PORTFOLIOConsists of Product Lines and Mixes

Product Line – closely related product offeringsProduct Mix or Portfolio – total group of products offered by the firm

Strategic DecisionsVariety – number of product lines offeredAssortment – depth of each product line

PROCTER AND GAMBLE’S PORTFOLIO OF HOUSE AND HOME PRODUCTS

UNIQUE CHARACTERISTICTS OF SERVICES

• IntangibilitySimultaneous Production and ConsumptionPerishabilityHeterogeneityClient-Based Relationships

LIFE CYCLE CONCEPTThere are FOUR main stages:

• Introduction• Growth• Maturity (Saturation)• Decline

STAGES OF PRODUCT LIFE CYCLE

• Introduction emphasis on stimulating trial• Growth repeat purchase and modification• Maturity standardization of operations and marketing mix more

aggressive competition • Decline modifiye or eliminate offering

POSITINING OFFERINGS & STRATEGIES

• By attribute or benefit• By use or application• By product or service user• By product or service class• Against competitors• By price and quality dimensions

BRAND OFFERINGS AND EQUITY• BRAND EQUITY (THE OVERALL VALUE OF A BRAND) provides a competitive advantage consumers are offer willing to pay a higher price for a product or service with brand equity

• BRANDING DECISIONS to assign a brand name to all offerings or to each line of offering to supply an intermediary with its own brand

BRAND GROWTH STRATEGIES

• New Product – a new product is developed with a series of new brand ideas and meanings to the consumer.

• Flanker Brand – a new brand is introduced into a category where the organization already has established products.

• Line Extension – a current brand name is introduced into a category where the organization already has established products.

• Franchise Extension – a familiar brand is taken to a product category where it is unknown.

THANK YOU.