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In the Spotlight
Figure 9.1 Marketing strategies define and support the product life cycle and brand, such as Peloton’s approach to bundling fitness products and online classes. (credit: modification of work “Woman Riding Exercise Bike” by onthegosports.com.au/SportsFanati...
Key Terms
actual product product available for purchase augmented product product having unseen aspects essential to customers brand an intangible asset with tangible value; made up of promotion efforts and customer meaning brand engagement measure of how deeply ...
References
1. “Compare Bikes: Which One Is Right for You?,” Peloton, accessed February 1, 2022, https://www.onepeloton.com/bikes/compare; “Tread Specs: Take a Closer Look,” Peloton, accessed February 1, 2022, https://www.onepeloton.com/tread/specs. 2. Marc...
Closing Company Case
Ramblewood In 2018, husband and wife duo Zach and Riley McDonald began getting a flood of requests to help with events. Each of them individually had significant talents. They were great foodies, and they understood good food both in taste and in presentati...
Marketing Plan Exercise
Complete the following information about the company and products/services you chose to focus on as you develop the marketing plan throughout the course. You may need to conduct research in order to obtain necessary information. Instructions: Using the Market...
What Do Marketers Do?
A product manager is the keeper of a brand. Their job is to develop the product strategy—the what, where, when, and how much of a product. Then, a product manager coordinates a cross-functional team of professionals from marketing, development, finance, legal,...
Building Your Personal Brand
Can you honestly say that you “own” who you are? Do your habits and mannerisms belong to you? Are you comfortable in your skin? In her TED Talk, Harvard professor Amy Cuddy discusses how body language impacts how others perceive you. Our nonverbals give other...
Critical Thinking Exercises
1. Brainstorm purchases that you have made this week. Classify each into convenience products, shopping products, specialty products, or unsought products. 2. Explain the product life cycle. How and why might it change based on certain crite...
Applied Marketing Knowledge: Discussion Questions
1. Think of a product that you have used recently. What are the core, actual, and augmented products? 2. How would you promote a shopping product differently than a specialty product? 3. Look at the Oreo product line. Why are th...
Chapter Summary
Products are the consumer offering. They are the reason that the customer is making a value exchange. Products and services differ but are inextricably linked through experiences. Consumer products are classified in four ways based on consumer behavior, price,...
9.1 Products, Services, and Experiences
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Differentiate between products, services, and experiences. 2 Describe how consumer and business/industrial products are classified. 3 Identify the four levels of a product. Pro...
9.9 Ethical Issues in Packaging
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Explain ethical issues with respect to product packaging. 2 Discuss product safety and ethical packaging trends. The Importance of Ethics in Product Packaging In addition to co...
9.8 Environmental Concerns Regarding Packaging
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Describe environmental concerns with respect to product packaging. 2 Discuss strategies that are being used to address environmental concerns. Environmental Concerns in Product ...
9.7 Creating Value through Packaging and Labeling
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Describe how an organization creates value through packaging and labeling. 2 Explain how packaging is used as a marketing tool. Creating Value through Packaging and Labeling If...
9.6 Forms of Brand Development, Brand Loyalty, and Brand Metrics
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Identify branding strategies. 2 Describe degrees of brand loyalty. 3 Discuss metrics that can be used to measure brand strength and value. Brand Development New products can b...
9.5 Branding and Brand Development
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Define branding and discuss its benefits. 2 Discuss ways in which an organization can build strong brands. Branding A brand is an intangible asset with tangible value. We canno...
9.4 Marketing Strategies at Each Stage of the Product Life Cycle
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Discuss marketing strategies in the introduction stage of the product life cycle. 2 Classify marketing strategies used in the growth stage of the product life cycle. 3 Characterize ma...
9.3 The Product Life Cycle
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Define the product life cycle. 2 List and describe the stages of the product life cycle. The Product Life Cycle Have you ever wondered what happens after a new product launch? ...
9.2 Product Items, Product Lines, and Product Mixes
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Define product items, product lines, and product mixes. 2 Describe product line length and depth. 3 Discuss product line filling and product line stretching. Product Line Lengt...
In the Spotlight
Figure 10.1 A new product’s success is dependent on the product development cycle and why consumers adopt new products. New product development involves a process of stages. (credit: “Chandelier” by Drew Coffman/flickr, CC BY 2.0) Chapter Outline ...