New Products and Services
Chapter 10
Product
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“A good, service, or idea consisting of a
bundle of tangible and intangible
attributes that satisfies consumers and is
received in exchange for money or some
other unit of value.”
Consumer Goods
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Consumer v. industrial goods
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Consumer goods
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Convenience goods
Shopping goods
Specialty goods
Unsought goods
Products
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Product item

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Product line
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Nike shoes
Product mix
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Nike Air Jordan
Nike shoes and clothes
Product width
Product depth
Source: http://nike-guidesntips.blogspot.com
Brands
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Branding
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Brand name
Trade name
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Brand personality
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Trademarks
Examples:
Brand equity
Benefits of Branding

Product identification
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Brand equity

Brand loyalty
More on Brand Equity
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The Value of Brand Equity

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Intangible assets
Licensing
Naming the Brand

What characteristics should it have?
Branding Strategies
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Manufacturer Branding
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Multiproduct branding
Multibranding
Private Branding Strategy
Mixed Branding Strategy
Generic Branding Strategy
Manufacturer Branding
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Multiproduct Branding
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Advantages
Disadvantages
Subbranding
Brand Extension
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Co-branding
Manufacturer Branding
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Multibranding
Strategy

Each product gets its
own name
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P&G
Advantages
Disadvantages
Source: http://retail-guru.com
Private Branding

Manufactures product but sells under the brand
name of the retailer or wholesaler
Source: http://mypbrand.com
Mixed Branding Strategy

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Mix of manufacturer and private branding
Examples:
Generic Branding

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No identification other
than contents
Less than 1% of
grocery purchases are
generic
Source:
http://influentia.typepad.com/blog/2007/12/whythe-generic.html
Packaging and Labeling
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Packaging v. Label
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Benefits of Packaging
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Greenwashing
Warranties
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Express warranty
Limited-coverage warranty
Full warranty
Implied warranty