Skip to main content

Brand is not product

 How do we contrast a brand and a product? A product is anything we can offer to a market for
attention, acquisition, use, or consumption that might satisfy a need or want. 

Thus, a product may be a physical good like a cereal, tennis racquet, or automobile; or a service such as an airline, bank, or insurance company. 

A product could also be a retail outlet like a department store, specialty store, or supermarket; a person such as a political figure, social media celebrity, entertainer, or professional athlete; an organization like a nonprofit, trade organization, or arts group; or a place including a city, state, or country; or even an idea like a political or social cause.

Learn more at Ransford online school

 

 LEVELS OF PRODUCT

We can define five levels of meaning for a product:

1. The core benefit level is the fundamental need or want that consumers satisfy by consuming
the product or service.

2. The generic product level is a basic version of the product containing only those attributes
or characteristics absolutely necessary for its functioning but with no distinguishing features.
This is essentially a stripped-down, no-frills version of the product that adequately performs
the product function.

3. The expected product level is a set of attributes or characteristics that buyers normally expect
and agree to when they purchase a product.

4. The augmented product level includes additional product attributes, benefits, or related services
that distinguish the product from competitors.

5. The potential product level includes all the augmentations and transformations that a product
might ultimately undergo in the future. 

Learn more at Ransford online school

Comments

Post a Comment

Popular posts from this blog

Is Liberalism under attack?

I believe the answer may be yes. It's yes because two powerful states in Asia: China and Russia have consolidated authoritarian regime, that the end points may not be visible soon.  These two forces are working tirelessly to globalize oligarchy and authoritarianism. Their gospels has been noised abroad. Their influences influences have been displayed in some nations (with pseudo democracy) in the global south,  In Africa, liberal democracy have been badly weaken by the character of people in leadership: abuse of offices, stealing of public funds without questions and necessary punishments, plus rigging of presidential elections, leading to changing fortunes ànd quagmires. Beside, the curent hyper-inflation in Nigeria is blamed on the recent resurgence of Adams Smith and liberal economics doctrines (and partly by loyalty to Washington consensus: policies and insititios designed by the US government to globalize capitalism and it's associated cultural systems). The market is now
Post a Comment
Read more

Sweet Spot

How do you create a digital strategy that involves customers in an energized social community?  How do you create an engaged, active “go-to” website?   Prophet's David Aaaker says, You must change the orientation of marketing from selling the offering, the brand, and firm to becoming an active partner with a shared interest program around a customer’s “sweet spot.” A sweet spot reflects customers’ “thinking and doing” time, beliefs and values, activities and passions, possessions or places they treasure. Ideally, it would be a part of, if not central to, their self-identity and lifestyle and reflect a higher-order value proposition, much beyond the benefits provided by the offering. To illustrate, Pampers went beyond diapers by creating the Pampers Village community that provides a “go to” place for all issues relating to babies and child care. Its five sections – pregnancy, newborn, baby, toddler, and preschooler – all have a menu of topics. Its online commu
Post a Comment
Read more

You can Create New Business Subcategory by altering an establish business category, competes in the pacific northwest, united states, turning the conventional idea of an original category upside down Like Umpqua Bank.

 Umpqua Bank competes in the pacific northwest, united states, turns the conventional idea of brand category upside down. Most consumers would never describe  a bank transaction a soul-satisfying, but Oregun-based  Umpqua Bank   become affiliated with cafe/retail categories in order to establish points-of-difference between itself nd other banks. Its stores offer music, coffee, wifi access, and of course, banking service. About a decade ago,  Umpqua  trailed U.S bank and Well-fargo in market share but later decided to go into new territory: Think bank across with your local Starbucks. No longer called bank or branches, “Umpqua Stores  were designed to stimulate cozy connection between customers, and feature computer cafe with wifi access and branded merchandise, including Umpqua’s own blend of coffee - must-have in the Northwestern United states, a coffee obsessed region. ”  Like starbucks,  Umpqua Bank  made musics part of its product mix. Working with portland’s Rumblefish,
Post a Comment
Read more