2.5: Individual Product and Service Decisions
Business decisions regarding product attributes, branding, packaging, labeling, and product support services are crucial in marketing. They help shape the consumer's perception of a product and influence their purchasing decisions.
Product attributes, including quality, features, design, and performance, are how customers differentiate between products. For example, Apple consistently focuses on innovation and superior design in its product attributes, which helps it stand out in the market.
Branding is vital for creating a unique image and identity for a product in the consumer's mind. Coca-Cola, for instance, has built a strong brand around happiness and positivity, which resonates with its target audience.
Packaging and labeling protect the product and serve as an essential marketing tool. Effective packaging and labeling can attract customers and provide helpful information about the product. For example, Nestle uses simple yet distinctive packaging and labeling for its KitKat chocolate bars, making them easily recognizable.
Product support services, like after-sales or warranties, enhance the value proposition and build customer trust. For instance, Amazon's easy return policy and efficient customer service significantly contribute to its strong customer relationships.
These decisions help marketers build a competitive advantage and satisfy customer needs better, leading to increased sales and customer loyalty.
