Page 131 - DMGT408DMGT203_Marketing Management

Marketing Management/Essentials of Marketing Krishan Gopal, Lovely Professional University

Notes Unit 6: Products, Services and Brands:
Building Customer Value

CONTENTS

Objectives
Introduction
6.1 Product Concepts

6.2 Services
6.2.1 Characteristics of Services
6.2.2 Classification of Services
6.2.3 Extended Marketing Mix for Services

6.2.4 Service Quality and Differentiation
6.3 Brands
6.3.1 Brand Identity

6.3.2 Brand Equity
6.3.3 Brand Image
6.3.4 Types of Brands
6.3.5 Branding Strategies

6.4 Summary
6.5 Keywords
6.6 Review Questions

6.7 Further Readings

Objectives

After studying this unit, you will be able to:

Identify the levels of a product
State the product line and product mix decisions

Identify the distinct characteristic of services and classify the services
Discuss the extended marketing mix for services and the GAP Model
Explain the elements of branding like brand identity, brand equity, etc.

Realise various branding strategies
Introduction

The purpose of business is to create and retain a customer. Value in one’s product or service
should be and almost always is defined on customers’ terms. If your product or service is

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