PRODUCT MANAGEMENT Product Branding, Packaging and Labeling

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PRODUCT MANAGEMENTProduct Branding, Packaging
and Labeling
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I. Branding Decisions
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A. Branding Terms

• Brand - a name, phrase, symbol or design, or some
  combination of these used to identify a product
  and set it apart from its competition.
• Trademark a brand that has been registered with
  the Patent and Trademark Office and is given
  legal protection, preventing others from using
  it.
• Brand Equity the added value a given brand name
  gives to a product beyond the functional benefits
  provided.
• Psychological benefits
• Social benefits
• Time benefits

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B. Selecting a Good Brand Name

• Suggests products benefits or uses
• Distinctive, memorable, and positive
• Simple, easy to pronounce
• Fits the company or product image
• Has no legal or regulatory restrictions

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Brand Name Activity

• Come up with a brand name for a frozen dinner
  that features country cooking and man-sized
  helpings. The meal contains either country-fried
  steak, fried chicken, or pork barbecue. Each
  meal contains two vegetables, such as baked
  squash, fried sweet potato, butter beans or fried
  apples.

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C. Branding Strategies

• Family branding
• Individual branding
• Private branding
• Mixed Branding

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II. Packaging and Labeling

• Packaging the design and production of the
  container or wrapper for a product.
• Labeling identifies the product or brand, who
  made it, where and when it was made, how it is to
  be used, and contents.
• Benefits of Packaging and Labeling
• containment, storage, and convenience
• consumer protection
• brand recognition
• information

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VI. Product Warranty

• Warranties indicate the liability of the
  manufacturer for product deficiencies and are an
  important element of product and brand
  management.
• Affect a consumers product evaluation