Product and Service Strategy and Brand Management
AFTER READING THIS CHAPTER YOU SHOULD BE ABLE TO: 1. Explain the offering concept and offering mix portfolio. 2. Describe how the marketing manager modifies the offering mix. 3. Identify and describe the stages in the new-offering development process. 4. Identify and describe the stages in the product life cycle. Slide 5-2
AFTER READING THIS CHAPTER YOU SHOULD BE ABLE TO: 5. Explain the types of positioning strategies. 6. Define the concepts of brand and brand equity. 7. Describe how brand equity is created as well as its value to organizations. 8. Explain the types of branding and brand growth strategies. Slide 5-3
OFFERING STRATEGY FRAMEWORK
The profitability of an organization depends on its product or service offering(s) and the strength of its brand(s).
Marketers face three offering-related strategy decisions: Modifying the Offering Mix Positioning Offerings Branding Offerings Slide 5-4
CHAPTER 5: PRODUCT AND SERVICE STRATEGY AND BRAND MANAGEMENT
THE OFFERING PORTFOLIO
THE OFFERING CONCEPT
An offering consists of the benefits or satisfaction provided to target markets by an organization. It consists of the following elements: Tangible product/service Related services
(delivery, setup, etc.) (a physical entity)
Packaging Other Features
THE OFFERING MIX
Offering Mix/ Portfolio
The totality of an organization’s offerings is known as its product or service. Groups of offerings similar in terms of usage, buyers marketed to, or technical characteristics. A specific product or service noted by a brand, size, or price. Slide 5-7
THE OFFERING MIX
Offering mix decisions concern the:
The number of offering lines.
The number of items in each line. The...