Md. Mahadi Hasan ID: 151-006-0-451Md. Rajibur Rahman ID: 151-008-0-451

Mostafa-Rashid Al-Farabi ID: 151-009-0-451Sajjad Hossain ID: 151-025-0-451

Md.Saifuzzaman Khan ID:151-005-0-451

PRODUCT

• ANYTHING OFFERED TO MARKET• TO SATISFY A WANT OR NEED• Goods, services,

experiences, events, persons, places, properties, organizations, information, ideas

• MOST IMPORTANT ELEMENT OF MARKETING MIX

the Product

Components of Market Offering

Attractiveness of the market offering

Value-based Prices

Product features and quality

Services mix and quality

Product characteristics and classification• Product Levels

• Core benefit – the service or benefit the customer is really buying

• Basic product• Expected product – a set of attributes

and conditions buyers normally expect when they purchase the product

• Augmented product – exceeds customer expectations

• Potential product – encompasses all possible augmentations and transformations Figure 1. Product Levels

5 Product Levels

• Core Benefit : Transportation from one place to another.

• Actual Product : Brand of the car, looks and design of the car.

5 Product Levels

• Expected Product : Decent mileage, proper engine, inflated tires.

• Augmented Product : After-sale services, insurance policy.

5 Product Levels

• Potential Product : May run more smoothly as it wears off a little.

Product characteristics and classificationClassification Types of Products Kotler Example Local Example Medical Application

Durability and Tangibility

Nondurable goods Beer and shampoo Fruit juice, bread Face masks, micropore

Durable goods Refrigerator, machine tools, clothing

Printers, television MRI and CT scan machines

Services Haircuts, legal advice, appliance repairs

Massage, pest control Consultation services

Consumer Goods

Convenience goods Soft drinks, soaps, newspapers Canned goods Medications

Shopping goods Furnitures, clothing, major appliances

Shoes, rugs, kitchen utensils

Crutches and canes

Specialty goods Mercedes Broadband connection Prostethic devices

Unsought goods Smoke detectors, life insurance, cemetery plots, gravestones

CCTV cameras Health insurance

Industrial-Goods

Materials and parts Farm products, iron, yarn, cement, wires

Tires, seat covers BP cuff

Capital items Generators, drill presses, hand tools, lift trucks

Tow trucks, escalators Dialysis machines

Supplies and business services

Paint, nails, brooms, lubricants, coal, writing paper, pencils

Ink, whiteboard markers Batteries for penlights and other tools

There are many product differentiations in the market namely the products’ form, features, customization, performance quality, conformance quality, reliability, repairability, durability, style & design.

form

features

customization

performance quality

conformance quality

durability

reparability

style & design

reliability

Product and services differentiationProduct Differentiation Kotler Example Local example Medical Application

Form Aspirin Ballpens Most medications

Features None Cellular phone Xray machines

Customization Levi’s and Land’s End Flower arrangements Personalized treatments

Performance quality Mercedes-Benz Rubber shoes Infectious disease control

Conformance quality Porsche 911 Fastfood restaurants (BOOMERS CAFE, PIZZA HUT, KFC)

Treatment guidelines

Durability Vehicles, kitchen appliances Entertainment appliances (television, radio, video players)

Diagnostic machines

Reliability Maytag Home appliances Wheelchairs, patient beds

Repairability Computer hardware or software

Cellular phone hardware and software

Diagnostic machines, Ventilators

Style Apple computers, Godiva chocolates

Vehicles Medications

Product and services differentiationServices Differentiation Kotler Example Local example Medical Application

Ordering Ease Baxter Healthcare supplies

Lazada, oshopping Appointment booking

Delivery Pizza delivery Fedex, DHL Laboratory results

Installation None Broadband connection Ventilator settings

Customer Training General Electric, McDonald’s

Foreign exchange stock holders

Asthmatics using nebulizers

Customer Consulting IBM, Oracle BPO industries Medical representatives

Maintenance and repair Hewlett-Packard Epson Diagnostic machines

Returns None Cellular phones Medications

Product Hierarchy

Item

(PRUDENTIAL RENEWABLE TERM LIFE INSURANCE)

Product Type

(TERM LIFE INSURANCE)

Product Line

(LIFE INSURANCE)

Product Class

(FINANCIAL INSTRUMENTS)

Product Family

(SAVINGS & INCOME)

Need Family

(SECURITY)

PRODUCT SYSTEMS & MIXES PROCTOR & GAMBLE

PRODUCT-MIXWIDTH

DETERGENTS TOOTHPASTE BAR SOAP DISPOSABLEDIAPERS

PAPER PRODUCTS

PRODUCT LINELENGTH

Ivory Snow (1930)

Tide (1946)

Gleam (1952)

Crest (1955)

Ivory (1879)

Camay (1926)

Zest (1952)

Safeguard (1963)

Oil of Olay (1993)

Pampers (1961)

Luvs (1976)

Charmin (1928)

Bounty (1965)

• Design is the totality of features that affect how a product looks, feels, and functions to a consumer. • Design offers a potent way to differentiate and position a company’s

products and services • Design offers functional and aesthetic benefits and appeals to both our

rational and emotional sides • Examples:• Kotler example: Hewlett-Packard PCs• Local Example: Magnum Cafe• Medical application: GE healthcare electronics

Product design

PACKAGING, LABELING, WARRANTIES &GUARANTEES

PACKAGING

• All activities of designing and producing the container for a product.

• 3 LEVELS OF MATERIALS1. Primary Package2. Secondary Package3. Shipping Package

OBJECTIVES OF PACKAGING

1. IDENTIFY THE BRAND2. CONVEY DESCRIPTIVE & PERSUASIVE INFORMATION3. FACILITATE PRODUCT TRANSPORTATION &

PROTECTION4. ASSIST AT-HOME STORAGE5. AID PRODUCT CONSUMPTION

MARKETING TOOL

• COMPANY & BRAND IMAGE• Ex. Garnier Fructis -

bright green hair care packaging

• INNOVATION OPPORTUNITY• Ex. Heinz EZ Squirt

ketchup & upside-down bottle

LABELING

1. IDENTIFIES PRODUCT

2. DESCRIBE PRODUCT3. PROMOTE PRODUCT

WARRANTIES & GUARANTEES

• All sellers are legally responsible for buyer’s normal or reasonable expectations.•WARRANTIES• Formal statements of expected product

performance by manufacturer.• Products can be returned to

manufacturer for repair, replacement, or refund.

WARRANTIES & GUARANTEES

• EXTENDED WARRANTIES• Best Buy & Circuit City

• GENERAL & SPECIFIC GUARANTEES• P&G - product returned if customer satisfaction not met• CROSS - pens & pencils guaranteed for life

SUMMARY

1. PRODUCT CHARACTERISTICS2. 5 PRODUCT LEVELS3. DURABILITY & TANGIBILITY4. PRODUCT DIFFERENTIATION5. SERVICE DIFFERENTIATION

SUMMARY

6. PRODUCT HIERARCHY7. PRODUCT SYSTEMS & MIXES8. PACKAGING 9. PACKAGING AS MARKETING TOOL 10.WARRANTIES & GUARANTEES