Sunday, November 11, 2012

Chapter 10 Product Concepts




What is a Product -  A product is everything, both favorable and unfavorable, that a person receives in an exchange. A product can be defined as a tangible good, services or ideas or a combination of these. The types of consumer products include, convenience products, shopping products, speciality products and unsought products.


Disney's Consumer Products -



Consumer Product - A product bought to satisfy an individuals personal wants.

Disney's consumer products includes speciality products. A speciality product is a particular item that the consumers search extensively for and are very reluctant to accept substitutes. To market speciality products status-conscious advertising is used to maintain the product's exclusive image. Brand names and quality of service are very important for speciality products. Disney products can be considered speciality products because of the company's exclusive image. Disney's merchandise is inspired by the popular characters from their animated films which produce toys, apparel, home decor and books.

Disney's Product Line and Product Mix

A product line is a group of closely related product items. An example of Disney's many product lines is their Cinderella line for all ages after the release of Cinderella The Diamond Edition. The collection of products includes toys, fashion, makeup, nail polish and home decor which are available at department and speciality retailers nationwide.





Product Mix- A product mix is all the products that an organization sells. All of Disney's apparel , television shows, toys and theme parks constitute its product mix
Repositioning- The change of consumers' perception of a brand. Disney typically targets to younger kids but in 2010 Disney repositioned by changing the family friendly movie Alice in Wonderland 19 years later to a dark live action adventure. The new look of Alice in Wonderland now targeted 12-22 years old with their merchandise in Hot Topic aimed at Gothic style.


Branding
A brand is a name, term, symbol, design or a combination that identifies a seller's product and sets them apart from competitors products. Disney's most famous brand symbol is their Mickey Mouse character. The benefits of branding is product identification, repeat sales, and new product sales. The Disney company has relatively high brand equity which is the value of company and brand names. Disney is a global brand that is very well known and wants to continue expanding "the Disney experience". Disney has also achieved brand loyalty which is the consistent preference of one brand over others. Their history and success of being a family brand has resulted in children favoring Disney products the most in comparison to other brands. The popular character Mickey Mouse is also one of Disney's trademarks. A trademark is the exclusive right to use a brand or part of a brand.

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