GROUP 6 MARKETING REVIEWER b.
Company name combined with
“PRODUCT AND ITS FEATURES” product name- COMPANY NAME is best
suited for marketing products that are
Variations on the Typical Life Cycle related in quality and use. Customers
1. The product gains wide acceptance after look for QUALITY PRODUCTS and MIND
an extended introductory period. SETTING FOR BRAND QUALITY is
2. Fads and fashion change in a short another objective of marketing
period f time. organization
3. Some products have longer life time c. Company Alone- Branding with the
period like canned goods and gasoline company alone places a great BURDEN
powered cars. ON PRODUCER’S REPUTATION FOR
QUALITY
Life Product Cycle Management
Sales and profit for a particular product 2) BRANDING FOR MARKET
can be controlled by the marketing SATURATION
organization. a. Introduction of Line Extension- brand
In some instances different marketing names are EXTENDED INTO NEW FORMS
organizations offering the same kind of AND SIZES of an existing brand
products can collectively change the category. This meets customer demands
shape of the market curve. for VARIETY and MORE SHELF SPACE for
middlemen
Cycle Management Strategies b. Introduction of Brand Extension-
1. Early to Rise Strategy extension of brand names into NEW OR
It is the strategy where the marketing MODIFIED PRODUCT CATEGORIES. It
firm plunges into the market at the early aims to penetrate the market easily with
stage or during the introductory period. NEW PRODUCT CATEGORIES and will
This strategy aims to build a dominant eventually develop PRODUCT
market position before any other RECOGNITION with LOW ADVERTISING
marketing organization enters into the COST
market. c. Introduction of Multi-Brands-
2. Delayed Strategy DIFFERENT BRAND NAMES are
This involves providing first the product introduced in the same product category
investment will pay off if the market is to capture consumer whose product
already proven to be profitable. preference changes over time. It
3. The Rising Market Status Strategy develops PRODUCT IDENTITY
The growth of the product in the market d. Introduction to new brand name-
should not be taken sitting down just NEW BRAND NAME IS ATTACHED TO A
counting the sales and profits. NEW PRODUCT CATEGORY. This is to
Managers have to devise strategic plans refocus customer attention to new
and programs that will sustain a bigger innovative products with new brand
market share. name & added benefits
4. Management Strategy at Maturity *Corporate Brand Acquisition- protects the
Stage existing brand that had reached its maturity
The age of maturity is investable. and declining stage.
It is at this period when the product has
to be modified, design a new promotion PACKAGING THE PRODUCT
strategy and add a new product features. Introduction
5. Survival Strategy in the Declining ~One critical aspect that must be designed
Stage properly to attract customers
It is at this stage when production must ~PACKAGE- container or wrapper of the
be more efficient and the marketing product. It also gives the significant and
program must sustain reasonable sales differential advantage over other products
to make an even market share. ~PACKAGING- business function that must not
Branding Strategies for producers and be taken for granted
middleman
-Different Strategies Used to Sell More Products VITAL PURPOSE OF PACKAGING
~partnership of producers and 1) To protect the product on its way to the
middlemen is a lifelong process of mutual customer – prevents tampering or
concern and cooperation for the development adulterating the product while in storage
of customer satisfaction. 2) To provide protection after the product is
1) BRANDING WITHIN A PRODUCT MIX purchased- packaged goods are more
a. Separate name for each product- also convenient, cleaner and less susceptible
termed as FAMILY BRANDING. It is to evaporation, spilling and spoilage
simple and less expensive for 3) It becomes part of the company’s trade
introduction of new products marketing program- must be packaged
to meet the needs of wholesaling and
retailing middlemen. STOCKING & TQM- Total Quality Management-
DISPLAYING attracts customers entails the development of specific procedures,
4) It becomes part of the company‘s policies and practices to meet demand.
marketing program- helps identify the Continuous Quality-Improvement
product & prevent substitution from the makes the product stay in the market
competitor’s product in the market. Optimal Quality- refers to a situation
SILENT SALESPERSON and that the product or service provides with an
communication link between middlemen experience that meets expectations
and salesperson
4) PRODUCT WARRANTEES –state where the
LABELING buyer is assured that the product meets the
Introduction specifications stated in the product labels.
a. Carries product information of its *Implied Warranty- interpreted by law
features and attributes to be intended to warrant quality of product
b. Requires managerial attention *Product Liability- legal action lodged
c. There’s a close relationship among by the affected consumer that resulted to
labeling, packaging and branding accidents caused by harmful or inadequate
precautions in product labels.
TYPES OF LABELS
1) BRAND LABEL- BRAND ALONE that is
applied to the product or package
2) A DESCRIPTIVE LABEL- OBJECTIVE
INFORMATION about product’s use/s,
construction, care, performance and
other pertinent features
3) GRADE LABEL- identifies the product
judge quality with letters, numbers or
words. It contains product expiry dates,
content values and other features. The
labels are operated by labeling laws.
FUNCTIONS OF LABELS
1) IDENTIFY the product or brand in the
market
2) DESCRIBE the product features and
uses
3) Serve as an ADVERTISING MEDIUM
with its colors and designs
4) Create LASTING IMPRESSION about
product quality
PRODUCT SATISFYING FEATURES
Introduction
-Product Patronage in the market is conditioned
by the strategies and policies employed by the
manufacturer and marketing organization on
the product’s attributes
PRODUCT SATISFYING FEATURES
1) DESIGN –elements that collectively form a
good or service that will satisfy customers
and gain competitive advantages
2) PRODUCT COLORS –customer’s
acceptance or rejection of the product.
Knowing the right color combination that
will appear to customers.
According to studies,
->darker value= richness or value
->Colorless products=perceived as plain water
->Transparent Products=purity and mildness
3) PRODUCT QUALITY –determine its ability
to satisfy human needs. It should be byword
to create a differential advantage.
