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Chapter 11: Product, branding, and packaging decisions. When you finish this chapter, you should: Describe the components of a product, identify the types of consumer products, explain the difference between a product mix’s breadth and a product line’s depth, identify the advantages that brands provide firms and consumers,. | product, branding, and packaging decisions eleven Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 1 LEARNING OBJECTIVES LO 11-1 Describe the components of a product. LO 11-2 Identify the types of consumer products. LO 11-3 Explain the difference between a product mix’s breadth and a product line’s depth. LO 11-4 Identify the advantages that brands provide firms and consumers. LO 11-5 Explain the various components of brand equity. LO 11-6 Determine the various types of branding strategies used by firms. LO 11-7 Distinguish between brand extension and line extension. LO 11-8 Indicate the advantages of a product’s packaging and labeling strategy. 2 Complexity of Products Michael Blann/Digital Vision/Getty Images 3 Types of Products Customers show such a strong preference that they will expend considerable effort to search. Wedding Gowns College Apparel Antiques Consumer is willing to | product, branding, and packaging decisions eleven Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 1 LEARNING OBJECTIVES LO 11-1 Describe the components of a product. LO 11-2 Identify the types of consumer products. LO 11-3 Explain the difference between a product mix’s breadth and a product line’s depth. LO 11-4 Identify the advantages that brands provide firms and consumers. LO 11-5 Explain the various components of brand equity. LO 11-6 Determine the various types of branding strategies used by firms. LO 11-7 Distinguish between brand extension and line extension. LO 11-8 Indicate the advantages of a product’s packaging and labeling strategy. 2 Complexity of Products Michael Blann/Digital Vision/Getty Images 3 Types of Products Customers show such a strong preference that they will expend considerable effort to search. Wedding Gowns College Apparel Antiques Consumer is willing to spend minimum effort to evaluate prior to purchase. Can goods Shampoo Candy Consumers will spend a fair amount of time comparing alternatives Shoes Appliances Cellphones Consumers either do not normally think of buying or do not know about. Fire extinguishers Dictionary Medical supplies Consumer products are products and services used by people for their personal use. Marketers further classify these products by the way they are used and purchased. 4 Explain the three components of a product. What are the four types of consumer products? 5 Product Mix and Product Line Decisions Source: Kellogg’s 2010 annual report, http://annualreport2010.kelloggcompany.com/innovation.htm. Product Lines Ready-to-Eat Cereal Toaster Pastries and Wholesome Portable Breakfast Snacks Cookies and Crackers Natural, Organic, and Frozen Kellogg’s Corn Flakes All-Bran Apple Jacks Cocoa Krispies Frosted Mini-Wheats Mueslix Kellogg’s Raisin Bran Froot Loops Kashi Special K Rice Krispies Nutri-Grain Special K .
