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ProductProduct

What is a product?What is a product?How can company built & manage its productHow can company built & manage its product

mix & product lines?mix & product lines?How can a company make better brandHow can a company make better branddecisions?decisions?How can packaging & labeling be used asHow can packaging & labeling be used asmarketing tool?marketing tool?

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ProductProduct P roduct is anything that can be offered to marketP roduct is anything that can be offered to marketfor attention, acquisition, use or consumptionfor attention, acquisition, use or consumptionthat might satisfy a need or a want.that might satisfy a need or a want.

P roduct that can be marketed includeP roduct that can be marketed include -- P hysical goods.P hysical goods. - - Services.Services.

-- P ersons.P ersons. - - P laces.P laces.-- Organizations.Organizations. - - Ideas.Ideas.

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Five leve ls of productFive leve ls of product C ore benefitC ore benefit fundamental service or benefit thatfundamental service or benefit that

the customer is really buying.the customer is really buying.Generic productGeneric product basic version of the product.basic version of the product.Expected productExpected product a set of attributes & conditionsa set of attributes & conditionsthat buyers normally expect & agree to.that buyers normally expect & agree to.

Augmented product Augmented product additional services &additional services &benefits that distinguish the company offer frombenefits that distinguish the company offer fromcompetitors.competitors.

P ackagingP ackaging servicesservices advertisingadvertising customer advicecustomer advice financingfinancing delivery arrangementdelivery arrangement warehousing & other warehousing & other things that people value.things that people value.

P otential productP otential product possible evolution.possible evolution.

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Product h ie rarchyProduct h ie rarchy N eed familyN eed family The core need that underlies theThe core need that underlies theproduct familyproduct family transportation.transportation.P roduct familyP roduct family All the product classes that can All the product classes that cansatisfy a core need with reasonablesatisfy a core need with reasonableeffectivenesseffectiveness air, water, road.air, water, road.P roduct classP roduct class A group of products within the A group of products within theproduct family recognized as having certainproduct family recognized as having certainfunctional coherencefunctional coherence LCV , H CV .LCV , H CV .P roduct linesP roduct lines A group of products within the A group of products within the

product class that are closely related becauseproduct class that are closely related becausethey function in a similar manner or are sold tothey function in a similar manner or are sold tothe same customer groups, are marketedthe same customer groups, are marketedthrough same type of outlets or fall within giventhrough same type of outlets or fall within given

price rangeprice range two & three wheelers.two & three wheelers.

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P roduct typeP roduct type those items within product linethose items within product linethat share one of the several possible forms of that share one of the several possible forms of the productthe product scooter, motorcycle.scooter, motorcycle.BrandBrand The name associated with one or moreThe name associated with one or moreitems in the product line.items in the product line.ItemItem A distinct unit within brand or product line A distinct unit within brand or product linedistinguishable by size, price, appearance,distinguishable by size, price, appearance,

attributes.attributes.

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Product class if icat ionProduct class if icat ion I.I. According to their durability or tangibility According to their durability or tangibility

N on durableN on durable DurableDurable Service.Service.II.II. C onsumer goods classificationC onsumer goods classification

C onvenience goodsC onvenience goods goods usually boughtgoods usually boughtfrequently, immediately with minimum efforts.frequently, immediately with minimum efforts.StapleStaple ImpulseImpulse Emergency.Emergency.Shopping goodsShopping goods goods that the customer ingoods that the customer inprocess of selection & purchaseprocess of selection & purchasecharacteristically compares on suitability,characteristically compares on suitability,

quality, price & style.quality, price & style.Specialty goodsSpecialty goods goods with uniquegoods with uniquecharacteristics or brand identification for whichcharacteristics or brand identification for whichsignificant group of buyers are habitually willingsignificant group of buyers are habitually willing

to make special purchasing efforts.to make special purchasing efforts.

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U nsought goodsU nsought goods goods that consumer do notgoods that consumer do notknow about or knows about but does notknow about or knows about but does notnormally think of buying.normally think of buying.

III.III. Industrial goods classificationIndustrial goods classification Materials & partsMaterials & parts goods that enter thegoods that enter themanufacturers product completely.manufacturers product completely.Raw materialRaw material FarmFarm N atural.N atural.Manufacture materials & partsManufacture materials & parts

C omponent materialC omponent material component parts.component parts.C apital itemsC apital items Long lasting goods that facilitateLong lasting goods that facilitatedeveloping & or managing finished product.developing & or managing finished product.-- Installation.Installation.Supplies & servicesSupplies & services short lasting goods thatshort lasting goods thatfacilitate developing or managing finishedfacilitate developing or managing finishedproductproduct operating suppliesoperating supplies maintenance &maintenance &

repair itemsrepair items services.services.

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Product m ix d e c is ion or product assortm e nt.Product m ix d e c is ion or product assortm e nt.It is the set of all product lines & items thatIt is the set of all product lines & items that

particular seller offers for sale to buyers.particular seller offers for sale to buyers.WidthWidth L e ngthLe ngth D e pthDe pth Cons ist e ncy.Cons ist e ncy.Product l in e d e c is ionsProduct l in e d e c is ions It is a group of products that are closely relatedIt is a group of products that are closely relatedbecause they function in similar manner are soldbecause they function in similar manner are soldto the same customer groups are marketed toto the same customer groups are marketed tothe same type of outlets or fall within given pricethe same type of outlets or fall within given pricerange.range.P roduct line analysisP roduct line analysis

P roduct line sales & profits.P roduct line sales & profits.P roduct line market profile with competitors productP roduct line market profile with competitors productline.line.

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P roduct line lengthP roduct line length Line stretching decisions.Line stretching decisions.DownwardDownward U pwardU pward Two way stretch.Two way stretch.Line filling decisions.Line filling decisions.

Line modernization decision.Line modernization decision.Line featuring decisions.Line featuring decisions.Line pruning decisions.Line pruning decisions.Ind ivi dual product d e c is ionsInd ivi dual product d e c is ions decisions ondecisions onproduct attributes, branding, packaging &product attributes, branding, packaging &labeling & other marketing decisions such aslabeling & other marketing decisions such aspricing, distribution advertising, promotion.pricing, distribution advertising, promotion.P roduct attribute decisionsP roduct attribute decisions

P roduct quality.P roduct quality.P roduct features.P roduct features.P roduct design.P roduct design.

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B rand d e c is ionsB rand d e c is ions a.a. B randB rand a name, term, sign, symbol or design or a name, term, sign, symbol or design or

combination of them, which is intended to identify thecombination of them, which is intended to identify the

goods or services of one seller or group of sellers & togoods or services of one seller or group of sellers & todifferentiate them from those of competitors.differentiate them from those of competitors.

b .b . B rand nam e B rand nam e that part of a brand which can bethat part of a brand which can bevocalized or utter able.vocalized or utter able.

c.c. B rand markB rand mark that part of brand which can bethat part of brand which can berecognized but is not utter able such as symbol,recognized but is not utter able such as symbol,design, distinctive color or lettering.design, distinctive color or lettering.

d.d. Trad e markTrad e mark a brand or part of a brand that is givena brand or part of a brand that is givenlegal protection because it is capable of appropriation.legal protection because it is capable of appropriation. A trade mark protects the sellers exclusive right to use A trade mark protects the sellers exclusive right to usebrand name or brand mark.brand name or brand mark.

e .e . Copyr ightCopyr ight the exclusive legal right to reproduce,the exclusive legal right to reproduce,publish & sell the matter, literary, musical work.publish & sell the matter, literary, musical work.

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B rand con ve y up to s ix leve ls of m e an ingB rand con ve y up to s ix leve ls of m e an ing -- Attributes Attributes -- Benefits.Benefits.-- C ulture.C ulture. - - V alues.V alues.-- P ersonality.P ersonality. - - U ser.U ser.B rand ing ad vantag e sB rand ing ad vantag e s

Helps seller to process orders & trace downHelps seller to process orders & trace downproblems.problems.Legal protection, protects unique features &Legal protection, protects unique features &coping with competitors.coping with competitors.

Attracting loyal & profitable set of customers. Attracting loyal & profitable set of customers.Segmenting the market.Segmenting the market.

To build corporate image.To build corporate image.

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B rand eq u ity conc e ptB rand eq u ity conc e pt Brand awarenessBrand awareness acceptabilityacceptability preferencepreference loyalty.loyalty.

Brand equity is a higher, higher the brandBrand equity is a higher, higher the brandloyalty, name awareness, perceived quality,loyalty, name awareness, perceived quality,strong brand association & other assets such asstrong brand association & other assets such aspatents, trade marks & channel relationship.patents, trade marks & channel relationship.B rand d e c is ionsB rand d e c is ions Should a brand developed for a product.Should a brand developed for a product.BrandBrand no brand.no brand.

B rand sponsor e r d e c is ionB rand sponsor e r d e c is ion Who should sponsor the brand?Who should sponsor the brand?ManufacturersManufacturers P rivateP rivate Mixed brand.Mixed brand.

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B rand d e c is ionsB rand d e c is ions Should each product be individually or familyShould each product be individually or familybranded?branded?

IndividualIndividual Blanket familyBlanket family Separate familySeparate family C ompany or individual names.C ompany or individual names.

Brand ex te ns ion d e c is ion

Brand ex te ns ion d e c is ion

Should other product given same brand name?Should other product given same brand name?Brand extensionBrand extension Line extensionLine extension N o brand lineN o brand lineextension.extension.

M ult i b rand d e c is ionsM ult i b rand d e c is ions Should two or more brand be developed in sameShould two or more brand be developed in sameproduct category?product category?

One brand or more than one brandOne brand or more than one brand new brand.new brand.

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Packag ing & la b e ling d e c is ionsPackag ing & la b e ling d e c is ions P ackaging is a activity of designing & producing theP ackaging is a activity of designing & producing thecontainer or wrapper for a product.container or wrapper for a product.-- P rimary package.P rimary package. - - Secondary package.Secondary package.-- Shipping package.Shipping package. - - Labeling.Labeling.P ackaging uses as a marketing toolP ackaging uses as a marketing tool -- Self service.Self service. - - C onsumer affluence.C onsumer affluence.

-- C ompany & brand image.C ompany & brand image.-- Innovational opportunities.Innovational opportunities.Developing an effective packageDeveloping an effective package -- Establishing the packaging concept.Establishing the packaging concept.

-- Decision on packet design.Decision on packet design.-- P utting through test.P utting through test.

oo Engineering test.Engineering test.oo V isual test.V isual test.oo Dealer test.Dealer test.oo C onsumer test.C onsumer test.

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Lab

e lingLab

e ling

It identifies the product or brand.It identifies the product or brand.It grades the product.It grades the product.

It describes several things for product.It describes several things for product.It might promote product.It might promote product.