Product and Brand Management:
 What is marketing?
Marketing is an organizational function and a set of processes for creating,
communicating, and delivering value to customers and for managing customer
relationships in ways that benefit the organization and its stakeholders. The process
through which VALUE is exchanged.
 What is a product?
Anything that can be offered to a market for attention, acquisition, use, or
consumption that might satisfy a need or want.
 Product Essentials:
• Product features and benefits
• Packaging
• Branding
• Warranties and guaranties
• Time to market
• Lifecycles

 Levels of product
 Core product
 Actual product
 Augmented product
 Product Items, Lines, and Mixes
 Product Item- a specific version of a product that can be designated as a distinct
offering among an organization’s products.
 Product Line- a group of closely related product items.
 Product Mix- all products that an organization sells.
 Product Strategy
Defines what the organization does and why it exists. It Involves creating a product
offering that is a bundle of physical (tangible), service (intangible), and symbolic
(perceptual) attributes designed to satisfy customer’s needs and wants. It Strives to
overcome commoditization.

 The Late majority represents another 34 percent. Frequently, these
individuals adopt a new product because they are forced to do so for either
economic or social reasons. They participate in community activities less than
the previous groups and only rarely assume a leadership role.
 Laggards comprise the last 16 percent of adopters. Of all the adopters, they
are the most “local.” They participate less in community matters than
members of the other groups and stubbornly resist change. In some cases,
their adoption of a product is so late it has already been replaced by another
new product.
 New Product Development:
The development of original products, product improvements, product modifications,
and new brands through the firm’s own R&D efforts Or New products can also come
from acquisition of other companies, patents, or licenses
 Idea Generation-Sales force, Customers, Employees, R&D specialists, The
competition, Suppliers, Retailers, Independent inventors.
 Screening-Screening separates ideas with commercial potential from those that
cannot meet company objectives.
 Business Analysis-The business analysis consists of assessing the new product’s
market potential, growth rate, likely competitive strengths, and compatibility
of the proposed product with organizational resources.
New Product Development Process
 Development-Converting an idea into a physical product Requires interaction
among many of the firm’s departments. Prototypes may go through many
changes.
 Test Marketing-Introduction of a trial version of a new product supported by
a complete marketing campaign to a selected city of television coverage.
 Commercialization- is stage, the firm establishes marketing strategies,
and funds outlays for production and marketing.
 Attributes Associated with a Product Offering
• What is Brand?

• Branding:
The purpose of branding is to transform a product. Transforming a commodity like
product into customer satisfying value added propositions is the essence of branding.
 BRANDING IS A:
A physical product is combined with something else- symbols, images and feelings to
produce an idea or concept. The two grow with and live on one another in a mutually
enhancing partnership.
• Branding is “emotional product development”.
Two routes of brand building:
1. from product advantage- intangible values
2. from values-products
• Promotion is the vehicle that allows us to access the consumer’s mind, to create
a perceptual inventory of imagery, symbols and feelings that come to define
the perceptual entity “we call a Brand.”
The Brand and Value
The brand is a focal point for all the positive and negative impressions created by
the buyer over time as he comes into contact with the brand’s products, distribution
channel, personnel and communication...
The value of a brand comes from its ability to gain an exclusive, positive and
prominent meaning in the minds of a large number of consumers” (Kapferer 1997,
pg. 25).
What is brand equity?
 The differential effect that brand knowledge has on consumer response to the
marketing of that brand.
 The unique “brain space” that your brand occupies in the minds of your
customers.
Brand equity is defined in terms of the marketing effects uniquely attributable to the
brand.

Brand image: A strong brand Image is created by marketing programs that link

Benefits
Benefits
Overall
Evaluation
(Attitude)
Overall
Evaluation
(Attitude)
Types of
Brand Associations
Types of
Brand Associations
Favorability,
Strength, and
Uniqueness of
Brand Association
Favorability,
Strength, and
Uniqueness of
Brand Association
Brand
Recognition
Brand
Recognition
Brand
Recall
Brand
Recall
Brand
Awaren