May 292015
 

Brand equity is a financial valuation of the firm’s brand contribution to profit. Most brand equity valuation firms – such as Millward Brown (as discussed in the link below) – look at brand equity on economic use basis. So what is an economic use basis? Economic use in the brand Read full article…

May 222015
 

Selecting a brand name One of the key decisions when bringing a new product to market, particularly if it is going to be under the umbrella of a new brand, is the brand name selection. There are two approaches to brand name selection. The first approach is to have a Read full article…

May 222015
 

Definition of a brand A brand can be defined as a name, sign, logo, or design of a product/ service or a firm designed to identify ownership and to differentiate the offering in the marketplace. What are brand elements? Most products and/or firms will have some sort of brand identity Read full article…

May 222015
 

 Product labeling decisions Product labels refers to the information attached to the packaging that helps describe the product in a little bit more detail. It is important to note that labeling is more information focused, as opposed to packaging itself (please refer to the separate article) which is more marketing Read full article…

May 222015
 

Packaging decisions in marketing When we think of packaging, we tend to think about packaging’s role of being recognized and attracting attention inside a store. While this is a key goal of packaging, there are actually many other goals of packaging which need to be considered within packaging design. These Read full article…

May 222015
 

In modern-day marketing, brand equity is generally highly sought-after. Brand equity can deliver financial benefits to the firm – primarily through greater market share, price premium, and increased customer loyalty. There are multiple decisions to be made however, when introducing a new product into the marketplace. This particular article provides Read full article…

May 212015
 
Product mix example

The overall product mix for a firm is the complete range of products that they offer in the marketplace. It is also sometimes referred to as their product assortment. There are multiple decisions to make in regards to an overall product mix for a company. Product mix decisions are quite Read full article…

May 212015
 
Product mix decisions

What is a product mix? A product mix is also referred to as a product assortment. It is the full range of products offered by a firm. As discussed in another article on this website, firms will have sets of products in what is known as a product line. Large Read full article…

May 212015
 

What is a product line? A product line can be defined as a set of products offered by a company that are similar in function and benefit. These sets of products are also usually sold through the same distribution channels to the same target market at a relatively similar price Read full article…

Feb 192015
 

Just in the same way that consumer products can be classified into similar categories of products, business or industrial products can also be classed together. These classification schemes are helpful for marketers to understand the fundamental marketing challenges of the products that they manage. In both sets of classification schemes Read full article…

Feb 192015
 

A key opportunity to differentiate a product in the marketplace is by augmenting the product. This principle as highlighted in the product levels model of marketing, which highlights that a product should be considered on the basis of the following levels: The core benefit The actual product The expected product Read full article…

Feb 192015
 
Five product levels in marketing

Most marketing textbooks will show the products as having three distinct levels, namely the core benefit or need, the actual product itself, and the augmented product. Please note that there is a separate article on this website that discusses the three product level model. However, in some more advanced marketing Read full article…

Feb 192015
 

In marketing textbooks, consumer products are often shown classified into one of four classes – namely, convenience products, shopping products, specialty products, and unsought products. This is a very old marketing model that is still current and relevant today. There are several articles on this website discussing the specific marketing Read full article…

Feb 172015
 

In marketing textbooks, when discussing the product mix, the consumer product classification system is usually discussed. Please note that there are several articles on this website relating to the consumer product classification system, such as how products are classified, examples of the different classes, and why this classification system is Read full article…