Unidad 3. Vídeo 6. flipped EIE. Marketing Mix I: El producto

Summary

This video explains the key concepts of marketing, focusing on the marketing mix and the four Ps: product, price, communication, and distribution. It delves into product classification, emphasizing the differences between goods and services, as well as their various attributes like design, quality, and branding. The video also covers branding strategies, including the importance of selecting a strong brand name, and discusses different types of branding approaches, such as single, multiple, second, and private label brands. It highlights how these strategies impact the market and customer perception, providing a comprehensive overview of marketing fundamentals.

Takeaways

• 😀 Marketing involves a set of techniques aimed at maximizing sales. One popular strategy is the marketing mix, focusing on four key variables: product, price, communication, and distribution.
• 😀 The marketing mix is often referred to as the 4 Ps: Product, Price, Promotions, and Place.
• 😀 A product is anything offered in the market for use or consumption, and it can be categorized as either goods or services.
• 😀 Goods are tangible products (e.g., a car or washing machine), while services are intangible (e.g., haircuts or vehicle repairs).
• 😀 Goods can be classified as durable or non-durable, with durable goods being used multiple times (e.g., computers) and non-durable goods consumed once (e.g., food).
• 😀 Products are differentiated by attributes such as design, quality, quantity, packaging, brand, and augmented product features.
• 😀 Design is crucial as it makes the product user-friendly, safe, comfortable, or unique compared to competitors, often shaping the product's personality.
• 😀 The quality of a product refers to how well it meets customer needs and expectations, making it more or less suitable for its intended use.
• 😀 The brand is a critical element that distinguishes a product in the market and can significantly influence customer perceptions and loyalty.
• 😀 When selecting a brand name, it should be brief, easy to pronounce, memorable, and have a positive meaning. It could also involve creativity or emotional appeal.
• 😀 Companies can use various techniques for brand names, including functional names, invented names, metaphorical names, and acronyms, each serving to connect with customers in different ways.
• 😀 Companies can use single-brand strategies, where all products are sold under the same brand, or multiple-brand strategies, where different brands are used for different product lines or market segments.

Q & A

What is the definition of marketing according to the video?

Marketing is defined as a set of techniques aimed at achieving the highest possible number of sales.

What are the four variables analyzed in the marketing mix strategy?

The four variables analyzed in the marketing mix are product, price, communication, and distribution.

Why is the marketing mix also known as the 'four P's'?

The marketing mix is also known as the 'four P's' because, in its original English form, these variables are referred to as Product, Price, Promotions, and Place.

What is the difference between goods and services in marketing?

Goods are tangible products that can be touched and seen, such as a car or a washing machine. Services, on the other hand, are intangible and cannot be physically touched, like a haircut or vehicle repair.

How are goods classified in terms of durability?

Goods are classified as either durable or non-durable. Durable goods are those that can be used more than once, like a computer or bicycle, while non-durable goods are consumed after one use, such as food items.

What are the key attributes that differentiate products from one another?

Key attributes that differentiate products include design, quality, quantity, packaging, brand, and the extended product (such as after-sales services, warranties, or delivery options).

What are some of the characteristics that a good product design should have?

A good product design should allow for easier, safer, and more comfortable use, while also helping to differentiate the product from its competitors.

What is the importance of a brand in marketing?

A brand is important because it serves as a name, symbol, or design that distinguishes a company's products in the market. It is often the first message a customer receives about the company and plays a significant role in consumer attraction.

What are some techniques for creating a brand name?

Techniques for creating a brand name include using real or fictional names (like Gillette or Xerox), functional names that describe the business (like Telepizza), invented names, or even names based on metaphors or customer experiences.

What is the strategy of using multiple brands, and what are its subcategories?

The strategy of using multiple brands involves a company using different names for different products. Subcategories include differentiated brands for each product, different brands for related product lines, and second brands to target different market segments.