THEORETICAL APPROACH TO THE CONCEPTS OF PRODUCT, BRAND, PACKAGING AND LABEL
YAKUP DURMAZ *
Faculty of Economics Administrative and Social Sciences, Hasan Kalyoncu University, Şahinbey, Gaziantep, Turkey.
YUSUF KILIC
Hasan Kalyoncu University, Doctorate Student, Turkey.
*Author to whom correspondence should be addressed.
Abstract
The product is the first component of the marketing mix and the reason businesses exist. The most important factor that can transform a business into a world brand is the product or service it offers. The priority of the components of the marketing mix is the product. Then, the price determined for the product, the promotional activities to be applied to the product or service, and the supply chains or distribution channels decisions that will be used to deliver the product to the consumer are listed. In this case, marketing managers and companies should primarily determine their product decisions. Product decisions play a crucial role in marketing strategies and components. In the globalizing business world, where competition is getting harder day by day, innovative philosophy and the products or services that come with this innovation are essential for businesses to increase their competitiveness with their competitors. In this theoretical study, which was conducted with a wide literature review, the product concept and product decisions were investigated.
Keywords: Marketing, marketing mix, product, product decisions