Products and brands, marketing, advertising

Product and Brands

A product is anything that can be offered to a market that might satisfy a want or need.This means that
services, leisure activities, people and organizations can also be considered as products. Most
manufacturers divide their products into product lines – groups of closely related products, sold to the
same customer groups, and marketed through the same outlets.
Most products offered for sale by retailers are branded. A brand is a name, or a symbol, or a logo that
distinguishes products and services from competing offerings, and makes costumers remember the
company, product or service.The key objective of branding is to create a relationship of trust.
Customers have an image of the brand in their minds, combining knowledge about the product and
their expectations of it. By way of extensive advertising, companies can achieve brand recognition
among the general public, including millions of people who are not even interested in the products.
Branding is used for B2B (Business-to- Business) marketing of materials and components, as well as
for consumer goods in B2C (Business-to- Consumer) marketing.
Some companies include their name in all their products (corporate branding. Other companies do
individual branding. and give each product its own brand name, so the company name is less well-
known than its brands ( compare the name Procter @ Gamble with its individual brand names
Pampers, Pringles, Duracell and Gillette). Some companies have a multi-brand strategy which allows
them to fill up space on supermarket shelves, leaving less room foe competitors. Brand value largely
comes from customer loyalty: the existence of customers who will continue to buy the products.
Outlets

- places of business for selling goods to customers

Products mix

- all the differrent products, brands and items that a company sells

Retailers

- businesses that sell goods or merchandise to individual consumers

Logo

- a graphic image or symbol specially created to identify a company or a product

Packaging

- wrappers and containers used to enclose and protect a product

Brand recognition

- the extent to which consumers are aware of a brand and know its name

Shelves

- surfaces ina store on which goods are displayed

Market share

- the sales of a company expressed as a percentage of total sales in a given market

Brand-switchers
consmuers who buy various competing products rather than being loyal to a particular brand
Marketing
The first few words that usually pop into a person`s heads are marketing equals sales. Marketing is not
just personal selling or even just advertising . Most people define marketing in a very limited way.
Marketing includes activities such as public relations, sales promotion, advertising, social media,
pricing, distribution and many other functions. Companies have increased their marketing budget
dramatically. For example, it is estimated that companies spend over 15 billion dollars annually on
marketing to just kids. This is an increase of over 2,5 times more than they were spending in 1992.
The cumulative function of marketing is to communicate deliver and create value to the consumer . In
addition, companies must take into consideration their employees, stakeholders and society. The most
successful companies engage in very consumer oriented marketing. They spend enormous amounts of
time, money and resources examining the everyday lives of their customers and then create products to
fill a need .

A product can be either a / physical product or a service. Place is where the product is
purchased. Price is the amount the customer / pays for the product and promotion consist of /
communication tools used to effectively get the company`s message out. The official
definition of marketing is it is a philosophy / that`s main focus is providing customer
/satisfaction. Marketing is the activity set of institutions and processes for creating
communicating, / delivering and exchanging, offerings that have value for customers, /
clients, partners and society at large. So included in the definition are all of the activities that
help businesses reach / their target market effectively. The ultimate / outcome for marketing is
when a successful exchange occurs.
Distribution channel

- all the companies or individuals involved in moving goods or services from producers to
consumers
Wholesaler

- an intermediary that stocks manufacturers’ goods or merchandise, and sells itt o retailers and
proffessional buyers
Market segmentaion

- dividing a market into distinct groups of buyers who have different requirement or buying
habits
Product differentaion

- making a product different from similar products offered by other sellers, by product
differences, advertising, packaging
Market opportunities

- pssibilites of filling unsatisfied needs in sectors in which a company can profitably produce
goods or services
Market skimming

- setting a high price for a new product, to make maxium revenue before competing products
appear ont he market
Sales representatives

- someone who contacts existing and potential customers, and tries to persuade them to buy
goods or services
Product features

- the attributes or characteristics of a product, such as size, shape, quality, price, reliability

Price elasticity

- the exttent to which supply or demand of a product responds to changes of price

Market penetration

- the strategy of setting a low price to try to sell a large volume and increase market share

Advertising

Advertising informs consumers about the existence and benefits of products and services.
Advertising attempts to persuade consumers to buy products and services.
Most companies use adverising agencies to produce their advertising for them.
The agency creates advertisements and develops a media plan
The agency develops a media plan specifying which media will be used and in which
proportions.
It is always difficult to konw how much to spend on advertising.
Increased ad spending can increase sales, but many companies just spend a fixed percentage
of current sales ravenue.
Advertising is widely considered to be essential for launching new consmuer products.
The traditional advertising does not reach always reach the target customers.
The best form of advertising has always been word-of-mouth advertising.
Viral marketing allows companies to inform and persuade , so that an idea spreads very
quickly.
Viral marketing allows companies to inform and persuade so that an idea spreads very
quickly, at very little cost.

Advertising agencies

- companies that design advertising for clients

Avertising campaign

- the advertising of a particular product or service during a particular period of time

Brief

- the statement of objectives that a client works out with an adertising agency

Target customers

- a defenied set of customers whose needs a company plans to satisfy

Adv. budget
 - the amount of money a company plans to spend in developing its advertising and buying
media time pr space
Media plan

- the choice of where to advertise in order to reach the right people

Comperative-priority method

- choosing to spend the same amount on advertising ans one’s competitors

Free sample

- a small amount of a product given to customers to encourage them to try it

Word of mouth advertising

- free advertising, when satisfied customers recommend products to their friend

Viral marketing

- trying to get consumers to forward an online marketing message to other people