Explain the five decisions one has to make about individual product marketing - Product Attribute, Branding, Packaging, Labeling/ logos and Product Support services?
-Product Attribute: developing a product or service involves defining the benefits it will offer such as quality, features, and style/design
>Product Quality: the characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs; two dimensions are level and consistency
>Product Features: a competitive tool for differentiating the company's product; need to assess the value of each potential feature
>Product Style and Design: style is simply the appearance of the product; design goes to to the very heart of a product and begins with observing customers, understanding their needs, and shaping their product-use experience
-Branding: a name, term, sign, symbol, or design, or combination of these, that identifies the products or services of one seller or group of sellers and differentiates them from those of competitors.
> helps consumers identify products, represent product quality and consistency, provide sellers advantages, and it is the basis on which the whole story can be built about a product's special qualities
-Packaging: the activities of designing and producing the container or wrapper for a product
> creates immediate brand recognition and boost sales
-Labeling/Logos: label identifies the product or brand, describes several things about the product, and promotes the brand and engage costumers
>companies must take care when changing brand symbols because customers may react strongly to change
-Product Support Services: important part of customer's overall brand experience
> need to send out surveys to assess value; use mix of phone, email, online, social media, mobile, and interactive voice and data technologies to provide support services
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