MARKETING 17e Hult Pride Ferrell 2014 Cengage Learning All Rights Reserved This edition is intended for use outside of the US only with content that may be different from the US Edition May not be scanned copied duplicated or posted to a publicly accessible website i ID: 670651
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Slide1
Part 4Product Decisions
MARKETING17eHult • Pride • Ferrell
© 2014
Cengage
Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide2
14-2
10: Product Decisions11: Strategic Product Management12: Services Marketing
13: Strategic Management of Branding and Packaging
© 2014
Cengage
Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide3
ObjectivesTo explain the value of branding
To understand brand loyaltyTo analyze the major components of brand equityTo recognize the types of brands and their benefits
To understand how to select and protect brands
To examine three types of branding strategies
To understand co-branding and brand licensing
To describe the major packaging functions and design considerations and how packaging is used in marketing strategies
To examine the functions of labeling and describe some legal issues pertaining to labeling
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3
© 2014
Cengage
Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide4
Branding A brand
is a name, term, design, symbol or other feature that identifies one seller’s product as distinct from those of other sellersA brand name is the part of a brand that can be spoken, including letters, words and numbersA
band mark
is the part of a brand that is not made up of words, such as a symbol or design
A
trademark
is a legal designation of exclusive use of a brand
A
trade name
is the full legal name of an organization
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4
© 2014
Cengage
Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide5
Discussion PointThe apple is a familiar brand mark initiated, owned and protected by Apple Inc.
14-5
Can you name some other iconic brand marks?
© 2014
Cengage
Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide6
Value of BrandingBuyers benefit from branding in the following ways:
Brands identify specific products and without them product selection would be randomBrands can be a form of self-expressionHelps buyers evaluate quality
Brands reduce a buyer’s perceived risks
There may be a psychological reward from owning a brand that symbolizes status
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6
© 2014
Cengage
Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide7
Value of BrandingThe value of branding for sellers are:Brands identify products, making repeat purchases easier
Branding helps when introducing new products because buyers are familiar with the nameFacilitates promotional efforts because the promotion of one branded product indirectly promotes all similarly branded products
Fosters brand loyalty and a certain level of market share and price stability
When marketers increase their brand’s value, they also raise the total value of the organization
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7
© 2014
Cengage
Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide8
Brand LoyaltyBrand loyalty is a customer’s favorable attitude toward a specific brand
Three degrees of brand loyaltyBrand recognition – the degree of brand loyalty in which a customer is aware that a brand exists and views the brand as an alternative purchase if their preferred brand is unavailable
Brand preference –
the degree of brand loyalty in which a customer prefers one brand over competitive offerings
Brand insistence –
the degree of brand loyalty in which a customer strongly prefers a specific brand and will accept no substitute
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8
© 2014
Cengage
Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide9
Brand InsistenceSome consumers are brand insistent about their deodorant
When they find just the right brand that works with their body chemistry, they keep buying the same brand14-9
© 2014
Cengage
Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide10
Discussion PointIdentify two brands for which you are brand insistent
How did you begin using these brands?Why do you no longer user other brands?Will you travel out of your way to get the ‘correct’ brand?
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10
© 2014
Cengage
Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide11
Brand EquityBrand equity is the marketing and financial value associated with a brand’s strength in a market
Four major elements underlie brand equity:Brand-name awarenessBrand loyalty
Perceived brand quality
Brand associations
An organization may buy a brand from another company at a premium price because it may be less expensive and less risky
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11
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide12
Major Elements of Brand Equity
14-12
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide13
Discussion PointGeico uses the gecko as a trade character to stimulate favorable brand associations
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Can you think of other companies who use an animal as a brand association?
© 2014
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide14
World’s Most Valuable Brands
14-14
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide15
Types of BrandsManufacturer brands are initiated by producers to ensure that producers are identified with their products at the point of purchase
Private distributor brands are initiated and owned by a resellerAlso called private brands, store brands or
dealer brands
Generic brands
are brands indicating only the product category
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15
© 2014
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide16
Discussion Point
14-16Which of these private label products do you purchase? Do you purchase them because of price? Or for other reasons?
© 2014
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide17
Consumers’ Perceptions Consumers’ Perceptions of Store and Manufacturers’ Brands for Selected Product Groups
14-17
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Private BrandsSears has initiated and developed several private brands, using Kenmore as a private brand for appliances, Craftsman for tools and DieHard for automotive batteries
14-18
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide19
Selecting a Brand NameMarketers consider several factors when selecting a brand name
The name should be easy for customers to say, spell and recallThe name should indicate the product’s major benefits and suggest a product’s uses and special characteristicsThe brand should be distinctive
If the brand name will be used for a product line, it must be compatible with other products in the line
Should be designed to be used and recognized in all types of media
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19
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide20
Selecting a Brand NameWords, numbers and letters are used to create some brand names
To avoid negative connotations, marketers sometimes use fabricated wordsBrand names can be created internally either by department, by committee or suggested by individuals
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20
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide21
Selecting a Brand NameBranding a service has some additional dimensions
The service brand and company name are usually the samePerceived by customers as having one brand name even if they offer several productsFrequently a service marketer uses a symbol along with a name to make the brand distinctive
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21
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide22
Protecting a BrandA marketer should design a brand that can be easily protected through registration
A series of court decisions has created a broad hierarchy of protection based on brand typeFrom most protectable to least protectable:Fanciful – Exxon
Arbitrary – Dr. Pepper
Suggestive – Spray ‘n Wash
Descriptive – Minute Rice
Generic, not protectable– aluminum foil
Surnames and descriptive, geographic or functional names are difficult to protect
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22
© 2014
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide23
Protecting a BrandA company must ensure a brand is not likely to infringe upon any brand already registered with the U.S. Patent and Trademark Office
Infringement is determined by the courtsA marketer must guard against allowing a brand name to become a generic termExamples: aspirin, escalator and shredded wheat
Congress enacted the Trademark Law Revision Act in 1988, strengthening trademark protection
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© 2014
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide24
Protecting a BrandA U.S. company trying to protect a brand in a foreign country frequently encounters problems
In many countries, the first firm to use a brand automatically has the rights to itSome companies have had to buy their own brands from those in a foreign country who first used itMarketers trying to protect their brands must also contend with brand counterfeiting
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© 2014
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide25
Protecting a BrandCompanies try to protect their brands by using certain phrases and symbols in their advertisementsNote the term “brand” after Kool-Aid, and the use of the ® symbol
14-25
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide26
Discussion PointThe brand name Xerox is sometimes used generically to refer to photocopiers
Kleenex is used to refer to facial tissuesHow can manufacturers protect their brand names?Why would they want to do so?
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© 2014
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide27
Branding StrategiesAn organization can use one or more of the following branding strategies:
Individual branding is a branding strategy in which each product is given a different nameFamily branding is branding all of a firm’s products with the same name or part of a name
A
brand extension
is when an organization uses one of its existing brands to brand a new product in a different product category
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27
© 2014
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide28
Co-BrandingCo-branding is using two or more brands on one product
Effective co-branding capitalizes on the trust and confidence customers have in the brands involvedCo-branding can help a company differentiate its products from those of competitors
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28
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide29
Co-BrandingSandwich Combos is a co-branded product consisting of Oscar Mayer and Kraft products
14-29
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide30
Discussion PointFor each of the following product categories, choose an existing brand
Then, for each selected brand, suggest a co-brand, and explain why the co-brand would be effectiveCookiesPizzaChips
Sports drink
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30
© 2014
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide31
Discussion PointGatorade Goes for “G” BrandingGatorade single-handedly pioneered the sports drink category nearly 50 years ago
Now, Gatorade’s marketers are fighting for higher sales with new branding initiatives for specific target markets and redesigned packaging to grab customers’ attentionWhat are the marketing advantages and disadvantages of emphasizing “G” as the primary element in the Gatorade brand?For competitive reasons, do you think Gatorade should consider co-branding to build on the equity of another major brand name as it seeks higher sales?
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31
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide32
Brand LicensingBrand licensing is an agreement whereby a company permits another organization to use its brand on other products for a licensing fee
Royalties range from 2% of wholesale revenues to 10% or higherThe licensee is responsible for all manufacturing, selling and advertising
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide33
Packaging Packaging involves the development of a container and a graphic design for a product
Like a brand, a package can influence a customers’ attitudes toward a product and affect their purchase decisionsA package can be a vital part of a product, making it:More versatile
Safer
Easier to use
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33
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide34
Packaging FunctionsFour functions of packaging:
Protects and preserves the product, prevents damage or may even prevent tampering or shopliftingOffers convenience to the customer with such things as individual servings or packaging sized and shaped for easier storageThe packaging can promote the product by showing its features, uses, benefits or image
Packaging can be used to evoke an emotional response
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34
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide35
Packaging ConsiderationsIn developing packages, marketers must take many factors into account
Cost – packaging costs vary greatlyRegulations – the Food and Drug Administration’s packaging regulations may require a tamper-resistant packageConsistency – how much consistency is desirable among an organization’s package designs
Family packaging
is using similar packaging for all of a firm’s products or packaging that has one common design elements
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35
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide36
Packaging ConsiderationsFactors affecting packaging decisions
Promotional role – packaging can create desirable images and associations by choice of color, design, shape and texturePackaging must meet the needs of resellers – wholesalers and retailers consider packaging for transportation, storage and handlingEnvironmentally responsible packaging – marketers must carefully balance society’s desire to preserve the environment against customers’ desire for convenience
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36
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide37
Packaging and Marketing StrategiesPackaging can be a major component of a marketing strategy
Good packaging of a new product helps it gain market recognition quicklyWhen considering the strategic uses of packaging, marketers must analyze the cost of packaging and package changes
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37
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide38
Packaging SpendingCompanies That Spend the Most on Packaging
14-38© 2014
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Packaging StrategiesMarketers sometimes alter a package becauseThe existing design is no longer in style compared to competitive products
New product features need to be highlighted New packaging materials have become availableA marketer may want to reposition a productNew packaging may make a product safer or more convenient to use
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39
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide40
Packaging Strategies
Secondary-Use Packaging
Customers see added value in a package that can be reused
Category-Consistent Packaging
A product is packaged in line with the packaging practices for that product category, such as peanut butter
Innovative Packaging
Unusual or unique packaging makes the product stand out from competitors
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40
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide41
Discussion PointThe individual sized package shown here is squeezable and also designed for dipping
14-41Is this packaging an improvement over the plastic pouches used previously?
Why do you think they changed the packaging?
© 2014
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide42
Packaging StrategiesMultiple PackagingOffering products in twin packs, tri-packs, six-packs or other forms is useful for some products as it may increase consumption but does not work for all products
Handling-Improved PackagingMaking a package easier to handle in the distribution channel
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42
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide43
Discussion PointLike other marketers of consumer products, Pillsbury has set up a website to inform and entertain consumers
Catering to the appeal of its most popular product spokesperson, Pillsbury has given its Dough Boy his own siteWhat branding strategy does Pillsbury seem to be using with regard to the products it presents on this site?
How does the Pillsbury site promote brand loyalty?
What degree of consistency exists in Pillsbury’s packaging of its products displayed on the website?
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43
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide44
Criticisms of PackagingWhile there have been improvements in packaging, there are still some problems Some packages suffer from functional problems and simply do not work well
Flour and sugar bags leak and tearCritics focus on packages safety issuesSharp edges and breakable glass Packaging may be viewed as deceptive
Inconsistent size designations confuse customers
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44
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide45
Discussion PointPackaging provides Product protection
Customer conveniencePromotion of imageKey features and benefitsIdentify a product and evaluate the effectiveness of the package for one of these functions
Identify a package you believe is inferior
Explain why you think the package is inferior
Discuss your recommendations for improving the packaging
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45
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide46
Labeling Labeling is providing identifying, promotional or other information on package labelsVery closely interrelated with packaging; information on the label may include:
Brand name
Trademark
symbol
Package size and content
Product features
Nutritional information
Presence of allergens
Type and style
of product
Number of servings
Care instructions
Directions for use
Safety precautions
Manufacturer
name/address
Expiration
dates
Seal of approval
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46
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide47
Discussion Point“Made in…” Labels
The country of origin affects customers’ perceptions of the product14-47
If given a choice of two identical products, would you choose the one with the ‘Made in the USA’ label over the other?
© 2014
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide48
Perceived QualityPerceived Quality and Value of Products Based on Country of Origin
14-48© 2014 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide49
Labeling Many labels contain a Universal Product Code (UPC) – a series of electronically readable lines identifying a product and containing inventory and pricing information
Federal laws and regulations specify information that must be included on labels of certain productsThe Nutrition Labeling Act of 1990 requires the FDA to review food labeling and packaging
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide50
Questionable Labeling PracticesDespite legislation, questionable labeling practices persist
Truth in labeling such as “strawberry frozen yogurt bars” that contain strawberry flavoring but no real strawberries“green labeling” or “greenwashing” where misleading claims play on customers’ concern for the environmentWhat constitutes when a product is really “made in the U.S.A.”?
Label guidelines continue to evolve from the Federal Trade Commission
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide51
Discussion Point100 Years of Product Innovation at Chevrolet
General Motors’ Chevrolet brand celebrated its 100th anniversary in 2011Over the years, it has transitioned from an American icon into a worldwide brand known for its quality and durabilityDespite numerous ups and downs, including the recent bankruptcy and bailout, Chevrolet is still going strong
How has GM managed product innovation to sustain the Chevrolet brand for over 100 years?
What are some future challenges for the Chevrolet brand?
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Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.Slide52
Discussion PointNew Belgium Brews Up Strong Brand Loyalty
The overall craft-brewing industry has done well in recent years, but New Belgium Brewing has done even betterNew Belgium’s mission is: “To operate a profitable brewery which makes our love and talent manifest”What has New Belgium Brewing done to increase brand recognition and brand preference?
How is New Belgium Brewing using packaging to support its brand image?
Assess New Belgium’s brand equity in terms of awareness, quality, associations and loyalty
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© 2014
Cengage
Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.