Product and Brands Development by Dany Herrera

danyhegon — 2018-09-04 21:41:37 UTC

According to the market concept, the social and economic justification for an organization’s existence is the satisfaction of customer wants and needs while meeting organizational objectives. This refers to the main exchange of value that customers and companies should establish in order to create a more solid bond.

For example, the main idea of Starbucks was to approach cafeteria employees to customers by a personalized attention that was built by simple things, like putting their name on the cup or asking the clients how their day was.

STARBUCKS CASE

danyhegon — 2018-09-04 21:42:34 UTC

“Starbucks provides you the experience to make you feel part of something with the ambiance that they create at their coffee shops using coffee as a conductor to be relaxed, while the customer exchange money that will lead the company to a more profitable panorama”.

It is important that companies get to know their customers, so they can know how they are perceived as a brand, because “PERCEPTION IS REALITY”

The previous examples can lead us directly to three key terms that integrates the marketing concept by being orientated to the customer wants and needs:

· FOCUS on the market target

· INTEGRATION as a company to generate value for consumers

· LONG-TERM RELATIONS are the main goal

SUCCESS KEY is based on knowing your market (segmentation, niche of market, targeting) and your competition.

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Have you ever think about the repercussion that building a brand could have? A brand is more than a name, it is an experience and the identity that customers can perceive, but this is a tricky part, because maybe a company pretends to project something and the public receives a different message, that is why the process of creation and adaptation to the market is the most important part on the future of a company.

In other order of ideas, the innovation that a brand can project is also a key chain on the success or failure that they could have.

An example of this can be found on the epic marketing myopia of “Blockbuster” that stayed with the rental movies part and left behind the real necessities that its consumers and left the door open to online platforms like Netflix to gain the market share that belonged to them.

So, What does a strong brand needs?

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· To be Recognizable

· Define the business DNA

· Motivate consumers and employees

· Represent a promise

· Create an emotional connection.

KEY CONCEPTS

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· Brand Development: Process of create and strength a professional service brand

· Marketing Inbound: The customer connects to a brand by entering to the internet and asking questions about the performance of some good or service.

· Branding: Start and build a brand

· BRIEF:The basic information that a company or an agency would give to start working a project.

Publicity vs Advertisement

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Thinking Our of the Box

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“Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and form managing customers relationships in ways that benefit the organization and its stakeholders”.

(American Mkt Association, Official definition of Mkt, adopted in 2004)

Consumer FOCUS

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"As societies changes marketing should to, in order to give new and fresh innovations that create more value for the customer"

The 4'P? WHAT?!

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The BRAND MEANING different perceptions

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1) Customers: Quality perception

2) Seller: How do you offer a product emphasizingon the main characteristicsor differencesamong competitors. It CLAIMS the difference.

3) Manufacturers: It exalt the process of manufacturing the products. It is organic or it has fair trade.

4) Marketing Managers: Develops strategies to make the product different from others.

Product DIMENSIONS

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Have you ever asked yourself what you are really buying?

Why is it important to Develop New Products?

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For Countries:

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"It activates the economy and provides jobs for the population".

For Companies:

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"The opportunity to develop new products can lead them to increase their profits and take advantages on the market"

For Customers

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"They can covered their needs in a different and creative way, fact that would lead them to have more satisfaction"

Novelty levels on NPD:

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1) Imperceptible (cost reduction, you don’t notice it)

2) Repositioning (the same product with <> format)

3) Existing product improvement

4) Adding lines to existing products

5) New lines of products

6) New products in the market where a company operates

7) New products world wide

danyhegon — 2018-09-04 23:04:57 UTC

"Exchange"

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Known as the CORE CONCEPT of marketing, because it is a value-creating process that benefits all the parties involved.

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Marketing Types of Entities

danyhegon — 2018-09-04 23:07:26 UTC

Marketers are involved in different types:

1) Goods
2) Services
3) Events
4) Experiences
5) Persons
6) Places
7) Properties
8) Organizations
9) Information
10) Ideas

Products Demand

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Levels of Demand

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1) Negative Demand: Your target do not like and seek for the product.
2) Nonexistent Demand: Consumers do not know about the product existence.
3) Latent Demand: The market necessity is present but there are not available products to satisfy it.
4) Declining Demand: Your sales are dropping and people are losing interest on your value proposition.
5) Irregular Demand: The products are only demanded at one point of the year, like Christmas trees that are hard to maintain alive in august on a 40 degree beach.
6) Full Demand: Consumers are happily buying the products offered.
7) Overfull Demand: Like Kylie Jenner and her cosmetics they are not enough or the people demanding them.
8) Unwholesome Demand: They might be dangerous but smokers in France are multiple.

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B2B

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"Sell to other businesses"

B2C

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"Sell to a consumer"

Call to Action

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"Text, link, button, image or link that encourages the web visitor to visit a landing page"

Inbound Marketing

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"It pretends to earn customers attention by making easy to find a website and creating interest"

Key Performance Indicators

danyhegon — 2018-09-04 23:29:17 UTC

"Measurement that helps companies to evaluate an employee's or activity's impact"

Leads

danyhegon — 2018-09-04 23:30:45 UTC

"The consumer will pass from knowing the product to be really engaged"

Worth-of-Mouth

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"Passing Information from person to person"

Profitability

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"Quality of affording gain or benefit or profit"

Deadline

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"The final point that indicates that something must be completed"

Forecasting

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"A statement made about the future"

Market Research

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"Research that pretends to gathered and analyse information about the moving of good or services from producer to consumer"

Advertise

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Billboard

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Client-base

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"A specific type of people that regularly buy Company ́s product".

Copy

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"Text used in promotional or marketing pieces"

Endorsement

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"When someone famous uses their own image to help promote a particular product"

Jingle

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Product Placement

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Slogan vs Tag Line

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"A tagline should represent your business, while a slogan represents a single product"

danyhegon — 2018-09-07 02:03:46 UTC

danyhegon — 2018-09-07 02:04:08 UTC

"On the brands fields it focuses mainly on the distinctive of the Augmented Product"

Pepsi vs Coke does it sound familiar?

MARKETING STRATEGY

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Add value for your consumers!

+ 3 P's

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People: Participants among the entire line of value share.
Process: Service, design, sell-service technologies
Physical evidence: Service environment, sound, sight, smell, taste, touch

CLIENTS = PRODUCT

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COST = PRICE

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COMMUNICATION = PROMOTION

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CONVENIENCE = PLACE

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PRODUCT CLASSIFICATION

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Company Orientations Toward the Marketplace

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United Colors of Benetton

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Cirque Du Soleil

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