The next unit of Marketing involves Product Development and Branding.  This unit expands on the previous Market Research Unit by applying the data collected to create new or improved current products.

Module Objectives and Intended Learning Outcomes:

The overall objective of this learning module is:

• Using information from the learning module, investigate the product development cycle, and create a product demonstrating branding and product development knowledge.

Each update will walk you through the process of obtaining the above-referenced objective. The steps you will take include:

• Explaining what a product is
• Understanding the four types of products
• Knowing how to apply the seven steps of Product Development to Marketing
• Understanding Branding and Brand Recognition
• Evaluating a Brand
• Combining branding into product development

Module Time Frame:

​The module will consist of six updates, posted once per week. The intended time-frame will be six weeks for completion. You may work at a slower pace if needed.

Materials Required:

• Computer with internet access
• Access to materials in prior units (for review)
• Drawing materials (optional)

Participation Requirements:

Comments:

• Review the videos and readings in the weekly “updates” and make a comment of 50 words or more on each of the discussion topics.
• Please read others’ comments, and feel free to interact with them, either below their comment or speaking to them via the @ button.

Updates:  

• Describe an idea or example based on the admin update prompt using 200 words or more. 
• Refer to at least one scholarly reference (peer-reviewed journal article or scholarly book) in each update and include proper citation. 
• Include at least one media element (e.g., images of figures or tables, embedded video with captioned source) and web links to relevant sources. 

Comment on peers’ updates:

• Comment on at least three other participants’ updates each week (15 in total).
• Write comments of 50 words or more to peer updates.
• Join others in discussion who may have already commented with @Name. Try to comment on different people’s updates each week.

 

Pre-course Survey

Before the course begins, please click on the following link and answer the questions. This survey will allow the instructor to assess your current understanding of Product Development and Branding.

Pre-Course Survey

What is a Product?

A product is an object or system made available for consumer use; it is anything that can be offered to a market to satisfy the desire or need of a customer.  The word "product" stems from the verb "produce," from the Latin prōdūce(re) “(to) lead or bring forth.”  Since 1575, the word "product" has referred to anything produced.

A product can be physical or virtual. Physical products include durable goods (such as cars, furniture, and computers) and nondurable goods (such as food and beverages). Virtual products are offerings of services or experiences (such as education and software). The chair you are sitting in is a product, but so is the web browser you are using as well as the internet service.

In retail, products are called merchandise. In manufacturing, products are purchased as raw materials and sold as finished goods. Commodities are usually raw materials such as metals and agricultural products, but the term can also refer to anything widely available in the open market.

What is a Product Line?

The video (MBN Video Dictionary, 2019) explains that a product line is a group of related products all marketed under a single brand name sold by the same company.

MBN Video Dictionary. (2019, February 6). What is a Product Line?

Add a Comment:  List three products you regularly use and explain what other items may be in the same product line.  Why do the products fit together? (Comment of 50 words or more)

Make an Update:  Choose one product from your list above and predict what kind of market research was done before this product was created.  Investigate the product's history and compare it to similar products from competitors.  At least 200 words, one scholarly reference, and one media element are required. Comment on three peers' updates.

Four Types of Products

There are four product type categories that we must consider.  Every product imaginable will fit into one of the following category types:

• Convenience
• Shopping
• Specialty
• Unsought

These four types of consumer products all have different characteristics and involve a different purchasing behavior by the consumer.  The types of consumer products differ in the way consumers buy them and, for that reason, how they should be marketed.

Read the following information about the four types of products or watch Professor Wolters' video at the bottom. You only need to choose one.

Convenience products

Among the four types of consumer products, the convenience product is bought most frequently.  A convenience product is a consumer product or service that customers usually buy often, immediately, and without great comparison or buying effort.  Examples include laundry detergents, fast food, sugar, magazines, etc.  Convenience products are usually low-priced and placed in many locations to make them readily available when consumers need or want them.

Shopping products

The second one of the four types of consumer products is the shopping product.  Shopping products are consumer products that the customer usually compares on attributes such as quality, price, and style in the process of selecting and purchasing.  A shopping product is usually less frequently purchased and more carefully compared.  Consumers spend much more time and effort in gathering information and comparing alternatives.  Examples of consumer products include furniture, clothing, used cars, airline services, etc.  Marketers usually distribute these types of consumer products through fewer outlets but provide more in-depth sales support to help customers in the comparison effort.

Specialty products

Number three of the types of consumer products is the specialty product.  Specialty products are consumer products and services with unique characteristics or brand identification for which a consumer is willing to make a special effort in purchasing.  The specialty product requires a special purchase effort but applies only to certain consumers.

Examples include specific cars, professional and high-price photographic equipment, designer clothes, etc.  A perfect example of these types of consumer products is a Lamborghini.  In order to buy one, a buyer would make a special effort, for instance by traveling great distances to buy one.  However, specialty products are usually less compared to each other.  

Unsought products

The final type of product is the unsought product.  Unsought products are those that a consumer either does not know about or knows about but does not consider buying under normal conditions. Consumers do not think about these types of products until they need them.  Most new innovations are unsought until consumers become aware of them.  Other examples of these types of consumer products are life insurance, pre-planned funeral services, etc.  Unsought products require much more advertising, selling, and marketing efforts than other types of consumer products.  

Professor Wolters. (2019, May 23). Types of Consumer Products & How to Sell Them

 

Add a Comment: Talk to an adult family member and give an example of each of the four types of products you or your family member has purchased. Where was each item purchased? (Comment of 50 words or more)

Make an Update: If all products fit into one of the four types above, think about how a company markets its products and to whom.  Investigate a few products from a single company.  Compare the products, their target market, and where they are typically sold.  The focus is to determine if products from the same company fall into the same category or can span different categories.  At least 200 words, one scholarly reference, and one media element are required. Comment on three peers' updates.

 

What is Product Development?

Product Development may involve modifying an existing product or its presentation or formulation of an entirely new product that satisfies a newly defined customer want or market niche.

Product development typically refers to all of the stages involved in bringing a product from concept or idea through market release and beyond. In other words, product development incorporates a product’s entire journey.

The Seven Steps of Product Development

Developing and eventually launching a product can often make or break a business, especially a startup business. Some businesses develop only one product, while others develop many. Product development steps vary based on the nature of the business and the management style, but most businesses follow seven main steps in the development process:

• Step 1: Generate Ideas
• Step 2: Screen Ideas
• Step 3: Develop a Business Plan
• Step 4: Develop the Product
• Step 5: Test-Market the Product
• Step 6: Introduce the Product
• Step 7: Evaluate Customer Acceptance

Flip through the Slide Presentation, read this Blog from Bit.Ai (2020), or watch the video below from
Jason Richea (2012) about the product development cycle. Note that the video's steps are not exactly the same as the presentation or blog, but the overall process is the same.

Jason Richea. (2012, November 14). Product - Development Stages

Add a Comment: Explain a product you may have found but no longer exists or was only available for a short period of time. What step in the development process would have caused this product to be unavailable today?  (Comment of 50 words or more)

Make an Update: Investigate a company or product's path through the steps of product development.  Research who came up with the idea, if a prototype was developed, and where it was test-marketed. Explain your findings.  At least 200 words, one scholarly reference, and one media element are required. Comment on three peers' updates.

Branding

Branding is the marketing practice of creating a name, symbol, or design that identifies and differentiates a product from other products. An effective brand strategy gives you a significant edge in increasingly competitive markets.

To make sure other companies can't use your brand, you need to get a trademark. A trademark is a recognizable sign, design, or expression that identifies a particular source's products or services from those of others, although trademarks used to identify services are usually called service marks.

A good brand will do the following for a company:

• Deliver a Clear Message
• Prove the brand’s creditability in today’s market
• Reach consumer emotionally about a product or service
• Motivate consumers to purchase products or services
• Create customer loyalty

Branding Confusion

According to the video, What is Branding (NorwichBSchool, 2011), Branding is much more than a logo, a nice color scheme, and trendy graphics.

 

NorwichBSchool. (2011, September 16). What is Branding?

Businesses brands are the most valuable intellectual property; it represents the businesses identity.

In an interview (Musto), Paige Musto, Act-On’s senior director for corporate communications said, “The brand is very important because it is the first touchpoint, the first exposure that a potential buyer, a potential partner, a potential influencer has with your brand and with your company.”

What is Brand Building?

The definition of brand building is to generate awareness about your business using strategies and campaigns with the goal of creating a unique and lasting image in the marketplace.

Positive image + standing out = brand success.

Branding can be broken down into three phases:

• Brand Strategy
• Brand Identity
• Brand Marketing

Brand Strategy will map out how the business is different, trustworthy, memorable, and likable by its ideal customer.  It will convey the business's purpose, promises, and how they solve problems for people.

This is THE first step a business must take when creating a brand from the ground up (whether just starting or already established).

Would you build a home without a blueprint or plans?  It’s the same with a business's brand.  You relate brand strategy to the blueprint for how the business wants the world to see them.  Brand strategy is a crucial and foundational piece for building a successful brand. Most businesses overlook one of the areas because they jump right into the design and marketing.

An effective and comprehensive brand strategy should include the following components as part of the process:

• Brand discovery
• Competitor research
• Target audience
• Brand voice
• Brand message & story

Brand Identity is how a business conveys this to the public with visuals, messaging, and experience. The brand strategy will influence how the business presents its identity and aligns it with its purpose for the most impact.

The elements of brand identity should be applied across all channels consistently. It’s the way that the business becomes recognizable.

This includes the business's logo, colors and fonts, website design, content, advertising, print or packaging, and more.

Brand Marketing s how businesses or organizations highlight and bring awareness to products or services by connecting values and voices to the right audience through strategic communication.

Today, businesses portray their brand image effectively through various digital marketing activities:

• User Experience (i.e., your website)
• SEO & Content Marketing
• Social Media Marketing
• Email Marketing
• Paid Advertising (PPC)

Together, these channels are essential to gaining brand awareness and growing the business.

Add a Comment: What brands stand out to you the most?  List three brands that you recognize and explain what makes the brand stick out versus other brands.  Make one reference to something listed in the video during your discussion. (Comment of 50 words or more)

Make an Update: Pick a company you have researched in prior updates or a new company and investigate its branding history.  Have the logos changed? Names changed?  Explain what you think was the cause of those changes based on the company's history.  At least 200 words, one scholarly reference, and one media element are required. Comment on three peers' updates.

This Week's Assessment:

This assessment aims to provide an opportunity for you to apply your learning practically.

Length of Activity: 3 weeks from project development to the final project revision completion. The first draft of the project must be turned in by Sunday 1:59 p.m. of Week 4.

Directions:

You are going to create an infographic covering a technology device. You are to choose a device that you love and research every device that was made. Then you will take the information you researched and turn it into an infographic. After your research, you will create what you think will be the next product for this company. You are to be creative and consider all the tasks when developing a new product for a company. You must include all the requirements listed below in your infographic.

Requirements:

1. Include every version of the product that has been made. That includes the first version made until the most recent model available for the public.
2. All the features of each product
3. Product Sales Information
4. Cost of Product
5. Pictures of all the devices
6. You are to create what you would like the next product to be. To create your preview, you must do one of the following:

• Draw on paper, Photoshop, Illustrator, Paint, or Google Docs or Slides.
• Create a 3-D image on www.tinkercad.com
• Use www.scratch.mit.edu to create a digital version of your product.
• Use any other website or application.

Then add the image to your infographic.  The infographic must be in a timeline format.

Check your work to this Rubric before submission. 

You will present your infographic and the new product you have created by recording a video of yourself explaining the infographic and the steps you took in developing the new product. Be prepared to explain in detail why you created the new product for this company. Questions to consider:

1. What is the new product? What are the new features?
2. What type of product is this? (Convenience, shopping, specialty, unsought)
3. What level of product is this? (Basic, Enhanced, Extended)
4. How does this help the brand?

To create the infographic, you may choose any platform you choose.  I suggest looking into Piktochart, Venngage, or Canva.  Of the three, I personally prefer Piktochart.  I have included two links on how to use Piktochart and how to create an infographic on Piktochart. 

Here are two examples of student's previous infographic submissions using Piktochart.

 

Evaluating Your Brand

It is essential with new products or services to also create a brand by researching, defining, and building it.  After creating a brand, the business must consider the following to make sure it is going to be successful:

• Does my brand relate to my consumers, and does it make sense?
• Does it reflect my business, products, and services?
• Is the brand unique, and is it important?
• Does my brand hold value, and does it represent the promise I am making to my consumers?

In the end, there are no right or wrong ways to evaluate a business's brand. There are several articles on the web that give effective advice in doing so. I have listed a few for your reference. In marketing, we must remember that our brand must portray what we are trying to sell, including products, the company's reputation, and how we want to be seen in the future. How we evaluate, this will be different for every company. For example, small businesses do not have the same resources as a large corporation and cannot fully assess every detail of their brand.

• 7 Questions to Evaluate Your Brand’s Health

• Eight Questions to Evaluate the Strength of Your Brand

• How do you evaluate your brand?

 

Add a Comment: Pick one of the articles listed above.  After reading, explain what questions or ways you think would be the most effective in brand evaluation. (Comment of 50 words or more)

Make an Update: On your own, investigate evaluating brands. Imagine you have started a small business and have been in business for one year. Sales are good, but not growing as fast as you'd like. Without spending the money to create a new product or improve a current product, in what ways would you evaluate your business and brand? Explain your thinking as well as what changes you could make. At least 200 words, one scholarly reference, and one media element are required. Comment on three peers' updates.

Assessment:

Peer review of another student's project from the previous week. Use the rubric and provide annotations and feedback on what could be revised before the final draft.

 

Product Development and Branding Combined

In the Silicon Valley Business Journal in December 2010, Elon Musk was quoted saying, "Brand is just a perception, and perception will match reality over time. Sometimes it will be ahead, other times it will be behind. But brand is simply a collective impression some have about a product."

Finding the right balance of branding and product development in their budget can be a real challenge for many business owners.  Like the yellow umbrella in the image below, we want our product and brand to stick out and be recognizable without sacrificing one or the other.  

We first need to distinguish between products and brands and how they impact one another. Successful products create value, and a strong brand tells a great story that communicates that value. Product managers typically focus on the design of products and the tangible use of features by users and customers. On the other hand, branding is more abstract and looks at the perception of how the public at large views a product and company.

How do these two come together? Effective brands tie the product benefits back to the company and help the company acquire new customers and build customer loyalty.  

If a business creates a product based upon what they assume their customers will love in terms of design and messaging, they're taking a risk that their brand won't resonate with its target market. And that won't help their product become a success. As marketers, we must take our market research into consideration and the business's target market to develop a successful product with effective branding. It all comes together in the end. The TV show, Shark Tank, is a perfect example of how new or small businesses use their products and developing brand to make a name for themselves and acquire the funds necessary to keep moving forward. I have included Shark Tank Season 12 Episode 5 for your reference. 

Add a Comment: Using the Shark Tank video above, choose one entrepreneur, and answer the following questions in your discussion:

1. What business did they create?
2. What is the product they developed?
3. In your opinion, what are the pros/cons of their product?
4. What step of the product development process is the company in?
5. What is their company’s brand?
6. Who is their competition?
7. Who are their primary customers?
8. Why do you think the sharks did or did not invest in their business?
9. In your opinion, what are two pros/cons of their branding?

(Comment of 50 words or more)

Make an Update: Research a successful product that debuted or was launched into success after appearing on Shark Tank. Analyze their success, personal journey, and how they applied the principles of branding and product development throughout that success? Make connections to the modules presented and cite one specific concept in your update.  At least 200 words, one scholarly reference, and one media element are required. Comment on three peers' updates.

Assessment:

Based on the peer review feedback and your own self-reflection in reviewing other projects, revise your original work, and produce a final draft. The final infographic and presentation should include ideas and strategies from the learning modules we have covered.