Copy Variable and System Channel Insertion

Elements that make up a product include at ributes, branding, packaging,

labeling, and product support services. Certain decisions along these lines are often made concerning the development and marketing of individual products.

Each of these elements applies to al categories of products. However, the

way marketers handle them can vary significantly from one product to another.

Actual y, one of the primary goals of marketers is to differentiate their product from competing ones by developing unique strategies for each product element.

We shal be taking a closer look at each of these elements.

3.3.1 PRODUCT ATTRIBUTES

The development of a product necessarily involves the consideration of the

benefits that the product wil offer. Such benefits are communicated and

delivered by product at ributes like quality, features and design. The degree of

consideration given to these attributes has far reaching implications on consumer's acceptance of the product.

3.3.1.1 PRODUCT QUALITY

Quality is one of the marketing manager's strategies of placing the product in the mind of the prospect or the consumer (i.e. positioning). Whenever a product

is being developed, the issue of quality comes under two dimensions: level

and consistency. In the first case, the marketing manager must choose a quality of a product to perform its functions, such as overal durability, reliability,

precision, ease of operation, and repairs, as well as other valued at ributes.

The second consideration for quality is in respect of consistently delivering the targeted level of quality to consumers. Hence, there should be no defects in the products being offered to the market. In addition, no variations should be spot ed in them.

It is realization of the need for high levels of quality consistency that firms

At up quality control units. General y, good quality control measures involve

preventing defects before they occur, through bet er product design and improved manufacturing process.

In recent times, many business enterprises have embraced "Total Quality

Management (TQM) as an important tool to constantly improve product and process

quality in every facet of their activities. Such companies are gradual y turning quality into a

potent strategic weapon of gaining an edge over competitors by offering products and services that bet er serve customers' need and preferences for quality.

3.3.1.2 PRODUCT FEATURES

Another important product at ributes are the features a particular product processes. A product can be offered with varying features. A model without any extras (a "stripped - down" model) is usual y the starting point. The company can simultaneously create higher-level models by adding more features. Consider automobile-manufacturing plant for example. A "stripped-down" model of the vehicles being produced wil contain no extra features like air-conditioners, head rests, al oy rims, car stereo etc. However, the higher models which contain any one or combinations of these extras features are fast becoming a

competitive tool for differentiating the company's products from competitors'. What is

general y needed here is some high degree of innovativeness backed with a sound and ef icient marketing research unit.

3.3.1.3 PRODUCT DESIGN

The process of designing a product's style and function concerns creating that is attractive,

easy, safe, and inexpensive to use and service. It should also be simple and economical to produce and distribute.

Just like product features, product design can be one of the most powerful competitive weapons in a company's marketing arsenal.

For instance, good designs can at ract at ention, improve product perfonnance, cut production costs, and give the product a strong, competitive advantage in the target market.

3 . 3 . 2 B R A N D I N G

A forward-looking marketing manager wil usual y consider the issue of branding, as part of his strategic plans. But what is a brand?

A brand is a name, term, sign, symbol or design, or a combination of these, which is intended to identify the products or services of one sel er or group of sellers and to differentiate them from those of competitors. Therefore, a brand identifies the maker or sel er of a product. It is a sel er's promise to deliver consistently, a specific set of features, benefits, and services to buyers.

We must observe that the term branding includes brand names, brand marks and

trademarks.

Brand name is narrower in meaning and is concerned with that part of a brand

which can be vocalized (i.e. utterable or pronounceable). A brand name is defined as a

brand or part of a brand consisting of a word, let er, group of words or let ers,

comprising a name, which identifies the goods or services of a sel er or group of sel ers and distinguishes them from competitors. Examples here include Coca Cola, Pepsi Cola,

Peugeot, Toyota, Panadol, Bacchus.

Brand mark is that part of a brand which can be recognized but is not ut er able

or pronounceable, such as symbols, designs or distinctive colouring or let ering. Examples. Lion head (for Peugeot).

A trademark is a brand or part of a brand that is given legal protection because it is capable of exclusive appropriation. A trademark usually protects the seller's

exclusive rights to use the brand name and/or brand mark.

Branding is now an important issue in product strategy that can be viewed

from two sides. On the one hand, developing a branded product requires a great deal of long-term marketing investment, especially for advertisement,

promotion and packaging. Hence, some manufactures usually find it conve- nient and cheaper to make the product and let others do the brand building.

This strategy is common with Taiwanese manufactures who make substantial

proportion of the world's clothing, consumer electronics, and computers that

are sold under non-Taiwanese brand names.

On the other hand, many manufacturers have come to realize that the power

lies with the companies that control the brand names. For example, brand name clothing, electronics, and computer companies can replace their Taiwanese

manufacturing sources with cheaper sources in Malaysia. It is however

regret able that the Taiwanese producers can do very little to prevent the loss

of sales to less expensive suppliers.

General y, branding adds value to consumers and society since it leads to higher

and more consistent product quality. It also increases the degree of

innovativeness in the business world by giving producers some incentives to

look for new features that cannot be easily copied by competitors. In this

sense, branding can be said to result in more product variety and choice for

consumers. Final y, branding increases shoppers' efficiency by providing sufficient information about products and where to find them.

Apart from the above, branding has been observed to confer specific advantages

on both the buyer and the seller.

In document High-level synthesis and rapid prototyping of asynchronous VLSI systems (Page 52-56)