Product Element Product Mix n Product mix is

+ Product Element

+ Product Mix n Product mix is the total assortment of products that a company makes and/or sells n Example : ü Nike has an extensive assortment of equipment in several sports such as tennis, hockey, basketball, baseball, etc).

+ Product Mix - Example Kraft Canada

+ Kraft Canada

+ Why do companies sell more than one product? n Security of sales n Prevents dependence on one product n Diversity among customers

+ Product Mix n Product mix has three key components: • Product line – a group of closely related products or services sold by a company (e. g. , Nike’s line of golf equipment would be a product line). • Packaging – an important element that may influence sales by emphasizing ease of use, consumer attractiveness, environmental friendliness, etc. • Brand – the name, symbol, word design, or combination of theses elements that identifies a product, service or company. The brand represents the company’s reputation of quality, reliability and status in the market place.

What is a Branding? n When an organization uses a name, phrase, or symbol to distinguish its products from the competition. n Creates value and influence.

Parts of a Brand name – consists of words, numbers, or letters that can be spoken n Logo – the picture, design, or graphic image that is associated with a brand n Slogan – the phrase or sentence that summarizes some of the essential aspects of the product.

+ Most Valuable Global Brands Brand Value Apple Google $154. 3 Billion $82. 5 Billion Microsoft $75. 2 Billion Top 10 Most Valuable Brands

+ Most Valuable Brands in Canada n Most Valuable Brands in Canada

What is Meant By Brand Personality? n Successful brands take on a “brand personality” – Attaching human traits to a brand name. n Nike with professional athletes endorsing their products has a “winning” personality.

What is Meant By Brand Personality? n Harley-Davidson: ü masculinity ü defiance ü rugged ü rebel

What is Brand Identity? n. A consistent image or feeling that consumers recognize when encountering the brand.

Fixed Brand Identity n Having a consistent brand identity can lead to focused marketing - but it can also limit your market. n Potential to alienate family audiences with films dealing with controversial issues. What do you do?

Establish Another Company/Brand n Touchstone Pictures

+ Branding Activity n Great a one-page Company Collage that identifies the following: Ø Corporate/company name Ø Product mix Ø All product lines including: ü Brands ü Logos ü Slogans ü Selection of product images