MKT 201 Chapter 10

CHAPTER 10

Product, Branding, and Packaging Concepts

OVERVIEW:

This chapter covers fundamental concepts relating to
(1) definition of a product,
(2) consumer and business product classification schemes,
(3) product mix and product line concepts,
(4) product life cycles, and
(5) product adoption processes.
We provide definitions and we examine the basic relationships necessary for understanding the role of products in the marketing mix. Students often believe that products are related more to production than to marketing. We also explore branding, packaging, and labeling. Brand equity, types of brands (manufacturer, private distributor, and generic), and brand name selection are discussed. We also deal with methods of protecting brands, covering such issues as trademarks and protecting a brand from becoming generic. This section also examines branding policies such as individual branding and family branding. The strategies of brand extensions and co-branding and their advantages and disadvantages are also discussed. Next, we examine major packaging issues including the functions of packaging, packaging strategies, and various types of packaging. The chapter ends with a discussion of labeling.

OBJECTIVES:

1.Understand the concept of a product and how products are classified.

2.Explain the concepts of product item, product line, and product mix, and understand how they are connected.

3.Understand the product life cycle and its impact on marketing strategies.

4.Describe the product adoption process.

5.Explain the value of branding and the major components of brand equity.

6.Recognize the types of brands and how they are selected and protected.

7.Identify two types of branding policies, and explain brand extensions, co-branding, and brand licensing.

8.Describe the major packaging functions and design considerations and how packaging is used in marketing strategies.

9.Understand the functions of labeling and selected legal issues.

Class Prep:

Read Chapter 10