Product concept,
Product line,
Product Mix,
Attention,
Product is defined as Acquisition,
anything that can be
offered to a market Use or
for
Consumption
that might satisfy a want or need.
Physical objects,
Services,
Events, Products include
Persons,
more than just
Places,
Tangible goods
organisations,
i.e. they include:
ideas, or
mixes of these entities.
Product planners need to
think about products on
THREE LEVELS.
Three levels of
Products
Each level adds more
customer value.
The most basic is the
core benefit, which addresses the
question,
what is the buyer really buying?
At Level 1
When designing products, marketers
must first define the core,
problem-solving benefits
that consumer seeks.
Product and
At Level 2:
At the second level, Service features,
product planners
must Design,
turn the core benefit
into an actual
a Quality level, a
product.
They need to
Brand name and
develop
Packaging.
At Level 3
Product planners
must build an
Augmented
product around the
Core benefit and
Actual product by
offering
additional
consumer services
and benefits.
Products may be classified
into two broad classes
based on
PRODUCT
CLASSIFICATIONS
The types of consumers
that use the products.
Consumer products and
Classification
of Products
Industrial products.
Products bought by
Consumer Final consumers for
Products
Personal consumption.
Consumer Products are classified based on
how consumers go about buying them
Convenience Products
Shopping Product.
Specialty Product
Unsought Products
Industrial Products
Consumer products that the consumer
usually buys frequently, immediately, and
with a minimum of comparison and
buying efforts.
Convenience Examples: Soap, Newspapers, Fast food
etc.
Products
Convenience products are usually low
priced, and marketers place them in
many locations to make them readily
available when consumers need them.
Consumer good that the customer, in the process of selection
and purchase, characteristically compares on such bases as
Suitability,
Quality,
Shopping
Product Price and
Style.
Examples: Furniture, Clothing, Major appliances etc.
Specialty Product
Consumer product with
Unique characteristics or
Brand identification for which
A significant group of buyers is willing to make a special
purchase effort.
Examples: Specific brands of Cars, Designer clothes, Services of
Medical and Legal Specialists etc.
Unsought Products
Consumer product that the
CONSUMER EITHER DOES NOT KNOW ABOUT or
KNOWS ABOUT BUT DOES NOT NORMALLY
THINK OF BUYING.
Example, Insurance.
Industrial Products
u Products bought by
u Individuals and
u Organisations for
u further processing of for use in conducting a business.
Materials and parts,
Three groups
of industrial products
Capital items, and
include
Supplies and services.
Closely related because
They function in a similar manner,
Product line:
Are sold to the same customer groups,
A group of products
that are Are marketed through the same type of outlets, or
Fall within given price range.
Example, Nike produces several lines of athletic
shoes and apparel.
Product line length
The number of
items in the product
line.
The set of all product lines
and items that
Product mix
or
Product portfolio:
A particular seller offers for
sale.
Product mix width:
IT REFERS TO THE NUMBER OF DIFFERENT PRODUCT LINES THE COMPANY CARRIES.
It refers to the
Product mix TOTAL NUMBER OF ITEMS THE
length: COMPANY CARRIES
within the product lines.
Product mix depth
REFERS TO THE NUMBER OF VERSIONS OFFERED OF EACH PRODUCT IN THE LINE.
Refers to
How closely related
Consistency of The various product lines are in end use,
product mix
Production requirements,
Distribution channels, or some other way.
