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Product Strategy and Classification Guide

This document discusses key aspects of setting product strategy in marketing management. It covers topics like classifying and differentiating products, building a product mix and lines, combining products through co-branding, and using packaging, labeling, warranties and guarantees as marketing tools. The document provides an overview of these concepts through definitions, examples, and discussion questions.

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Sahil
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686 views17 pages

Product Strategy and Classification Guide

This document discusses key aspects of setting product strategy in marketing management. It covers topics like classifying and differentiating products, building a product mix and lines, combining products through co-branding, and using packaging, labeling, warranties and guarantees as marketing tools. The document provides an overview of these concepts through definitions, examples, and discussion questions.

Uploaded by

Sahil
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd

MARKETING MANAGEMENT

12
Setting Product Strategy
Chapter Questions
 What are the characteristics of products and how
can they be classified?
 How can companies differentiate products?
 How can a company build and manage its
product mix and product lines?
 How can companies combine products to create
strong co-brands or ingredient brands?
 How can companies use packaging, labeling,
warranties, and guarantees as marketing tools?

12-2
Product

Anything that can be offered to a market to


satisfy a want or need.

12-3
Figure 12.2 Five Product Levels

 Core benefit
 Basic product
 Expected product
 Augmented product
 Potential product

12-4
Product Classification Schemes

 Durability
 Tangibility
 Use

12-5
Durability and Tangibility
 Nondurable goods
 Durable goods
 Services

12-6
Consumer Goods Classification

 Convenience
 Shopping
 Specialty
 Unsought

12-7
Industrial Goods Classification
 Materials and parts
 Capital items
 Supplies/business services

12-8
Product Differentiation
 Product form  Style
 Features  Design
 Performance  Ordering ease
 Conformance  Delivery
 Durability  Installation
 Reliability  Customer training
 Reparability  Customer consulting
 Maintenance
12-9
The Product Hierarchy
 Need family
 Product family
 Product class
 Product line
 Product type
 Item

12-10
Product Systems and Mixes
 Product system
 Product mix
 Product assortment
 Depth
 Length
 Width
 Consistency

12-11
Product Line Analysis
 Core product
 Staples
 Specialties
 Convenience items

12-12
Line Stretching
 Down Market Stretch
 Up-Market Stretch
 Two-Way Stretch

12-13
Product-Mix Pricing
 Product-line pricing
 Optional-feature pricing
 Captive-product pricing
 Two-part pricing
 By-product pricing
 Product-bundling pricing

12-14
Packaging: The 5th P

All the activities of designing and producing


the container for a product.

12-15
Packaging has been influenced by:

 Self-service
 Consumer affluence
 Company and brand image
 Innovation opportunity

12-16
Functions of Labels
 Identifies
 Grades
 Describes
 Promotes

12-17

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