Chapter 10
Product and Brand Decisions
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Product and Brand Decisions - Global Economics - Lecture Slides, Slides of Economics
Product and Brand Decisions, Product Design, Foreign Products, Strategic Alternatives, New Product Issues, Basic Product Concepts, Tangible Attributes, Intangible Attributes, Consumer Goods, Industrial Goods. Its Global Economics lecture, i hope you like it.
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Chapter 10
Product and Brand Decisions
Introduction to Brands and
Products
Brand and product
concepts
Local, international,
and global brands
Product design issues
Attitudes toward
foreign products
Strategic alternatives
New product issues
Product Types
Buyer orientation
Amount of effort expended on purchase
Convenience
Preference
Shopping
Specialty
Brands
Bundle of images and experiences in the
customer’s mind
A promise made by a particular company
about a particular product
A quality certification
Differentiation between competing products
The sum of impressions about a brand is the
brand image
Brand Equity
The added value that accrues to a
product as a result of investments in
the marketing of the brand
An asset that represents the value
created by the relationship between the
brand and customer over time
Local Products and Brands
Brands that have achieved success in a
single national market
Represent the lifeblood of domestic
companies
Entrenched local products/brands can
be a significant competitive hurdle to
global companies
Global Products and Brands
Global products meet the wants and
needs of a global market and are
offered in all world regions
Global brands have the same name
and similar image and positioning
throughout the world
Global Products and Brands
A multinational has operations in different
countries. A global company views the world as
a single country. We know Argentina and France
are different, but we treat them the same. We
sell them the same products, we use the same
production methods, we have the same corporate
policies. We even use the same advertising—in a
different language, of course.
—Alfred Zeien Former Gillette CEO
Global Products and Brands
Global brands are
not the same as
global products
iPod = brand Mp3 player= product
Branding Strategies
Combination or tiered branding allows
marketers to leverage a company’s reputation
while developing a distinctive identity for a
line of products
Sony Walkman
Co-branding features two or more company
or product brands
NutraSweet and Coca-Cola Intel Inside
World’s Most Valuable Brands, 2006
- Coca-Cola
- Microsoft
- IBM
- GE
- Intel
- Nokia
- Toyota
- Disney
- Louis Vuitton
- Cisco
- Honda
- Samsung
- Merrill-Lynch
- Pepsi
- Nescafe
- Dell
- McDonald’s
- Mercedes-Benz
- Citi
- Marlboro
- Hewlett-Packard
- American Express
- BMW
- Gillette
Global Brand Development
Questions to ask when management seeks to
build a global brand
Does this move fit the company and/or its markets? Will anticipated scale economies materialize? How difficult will it be to develop a global brand team? Can a single brand be imposed on all markets successfully?