Marketing Management: The Big Picture

chapter eight

PRODUCT

“…but as their pieces are made for sale, they say, and it is very true, that the players would not purchase them, if they were of any other stamp: so that the author is fain to accommodate himself to the demand of the actor, who pays him for his work.”

Cervantes, Saavedra, M. de. (1793).

The history and adventures of the renowned Don Quixote. 6th ed. corr. London: Printed for A. Law, W. Miller, and R. Cater. Vol. 1, p. 400.

After studying this chapter you should be able to:

1. Describe where product fits within the executional plan
2. Differentiate between products and brands
3. Describe the product and brand life cycle
4. Define the most important aspects of the product portfolio
5. Describe how to use product attributes to establish brand value
6. Integrate product with other elements of the Big Picture

The Impact of Product Performance on Brand Perceptions

Major product failure can have a significant negative impact on the associated umbrella brand or brands. Consumers usually form immediate negative associations with the salient brand name, regardless of whether that company actually contributed to the failure. Once that damage has been done, information that tries to correct any misunderstanding is often ineffective, particularly if the true culprit is obscured by a more heavily branded component. Two recent examples illustrate.

Toyota, the global automaker based ...