Individual product decisions

This week I would like to write about the decisions relating development and marketing of individual products. Focusing on the decisions about product attributes, branding, packaging, labelling and product-support services.

Product quality
The ability of a product to perform its functions and how durable a certain product is. The reliability, precision, ease of operation and repair.

Product features
A product can be offered with variety of features, the company van create more features by adding higher-level models. Features are a competitive tool for differentiating the company’s products from the competitors products. Being the first producer to introduce a needed and valued new feature is one of the most effective ways to compete.

Product style and design
Another way to add customer value is through product design. Some companies have reputations for outstanding style and design. This could be the colour, material, shape, and etc.

Branding
Consumers view a brand as an brand as an important part of a product, branding adds value to a brand. It maintains, protects and enhances the product.

A brand is a name, term, sign, symbol, design or a combination of these, which are used to identify the goods or services.

A brand can deliver up to four levels of meaning:
1. Attributes
2. Benefits
3. Values
4. Personality

Brand name selection
Selecting the right name is very important, a good name can add to great success to a products.

It should include the benefits and the qualities of the product, it should also be recognisable for the consumers. Short names are easy to remember as well such as Dove (Soap).

The brand name should be distinctive, but easy to translate. And once chosen the brand name it must be registered with the appropriate Trade Marks Register, giving the owner property rights and preventing competitors from using the same name.