Philip Kotler's experience Essay Example | Topics and Well Written Essays - 2250 words

Philip Kotlers experience - Essay ExampleDepending on the grocery store and point of intersection characteristics, the competition takes place at one of the product levels.Six levels of product hierarchy with relation to definite other products are described and few possible classifications of the products listed. A notion of product mix, or assortment, is introduced and specify as a combination of all the products offered by a particular market player to its customers. It is characterized by the width, length, and consistency.Product line decisions are important for the product strategy and should be based on product-line and market analysis, considering optimal product-line length and issues of modernization, featuring and pruning.The second part of the chapter is devoted to the bulls eye and denounce decisions. Brand is a multifactorial symbol it identifies sure products and distinguishes them from the competition in the mind of the customer and in the marketplace. Buildin g brand individuation is extremely important as it allows the company to increase the differentiation of its products and receive price premiums. Building brand identity requires decisions on the brands name, logo, colors, tagline, and symbol. Brand strategy decision includes choice between functional, image and experiential brand, and brand development and repositioning. Packaging and labeling are also important parts of the overall product strategy.This chapter is devoted to the selling and management of divine operate. ... Services can be classified as equipment-based or people-based requiring clients presence or not targeting personal or business need based on the type of the service provider.Four briny characteristics of the services are intangibility, inseparability, variability, and perishability. They influence significantly the development and implementation of the marketing strategies for the service firms and pose certain challenges. Marketing strategy elements for the services, besides traditional four Ps, include also people, physical evidence and process. triple main tasks the marketing of services should fulfill are differentiation of the offer from the competition, effective management of the service quality, and improving the employees productivity. For goods-producing companies marketing of services is important while they sell not only the physical products and the product support services as well. The company should manage its products life-cycle cost, and meet or exceed the customers expectations. The offered services may be of several types facilitating services (e.g. installation, financing, training), value-augmenting services (e.g. product warranties, trade-in allowances), postsale services (maintenance, repair etc.). The recent trends in the product support service include service unbundling, accumulation of the maintenance services and outsourcing them to the third gear parties, increasing role of call centers and customer ser vice representatives, and extended warranties.Chapter 16 Developing price strategies and programsThis chapter looks in deep into price element of the marketing mix. It is of high importance