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Setting
Product Strategy
How can companies use packaging, labelling, warranties, and guarantees as marketing tools
Factors contributing to growing use of packaging as a marketing tool
• Self-service– growing number of products
• Consumer affluence– pay a little more for overall impression
• Company and brand image– Instant recognition Ex: Garnier fructis
• Innovation opportunity– benefit to both consumer and producer
E; resealable spouts
Objectives of Packaging
Packaging must achieve a number of objectives:1. Identify the brand. 2. Convey descriptive and persuasive
information. 3. Facilitate product transportation and
protection. 4. Assist at-home storage. 5. Aid product consumption
Objectives of labelling
• Identifies the product/brand – ex: Arctic apples
• Describes the product – ex: virgin oil, mfg. date etc
• Promotes the product
Warranties
• Formal statements of expected product performance by the manufacturer
• Legally enforceable
Why Guarantees?
• Guarantees reduce the buyer's
perceived risk.
• They suggest that the product is of high quality and the company and
its service performance are dependable.
When Guarantees?
• When the company or product is not well known
or
• when the product has superior quality to that of competitors.
Why guarantees and warranties?
• Increase in sales by promoting the product
• Win customer loyalty and good will• Helps in creating a brand
CreditsBackground
www.flickr.com
7 krazyclippers.comwww.arcticapples.comwww.walmart.com
5 www.creativeguerrillamarketing.com
9 www.simplyglas.co.ukwww.foundationrepairservices.comwww.unifiedav.com
11 swift-publishing.comwww.scoreguarantee.inwww.roofingandroofers.com
Based on Chapter 12 of Marketing Management by Kotler Keller Koshy Jha 14th edition Disclaimer"Created by Vishnupriya Aryabhumi, IITMadras, during an internship by
Prof. Sameer Mathur, IIMLucknow.www.IIMInternship.com"