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PRINCIPLES OF

MARKETING-2
PRODUCT DECISION
-MRINAL
GAUTAM
3rd sem

What is a product
.-anything that is capable of satisfying a need

or a want is a product.
Anything that can be offered to a market for
attention, acquisition, use or consumption
that might satisfy a need or a want. It includes
physical objects , services, persons, places,
organizations and ideas.

The product and the product mix


--PRODUCT
1.PHYSICAL GOODS
2.SERVICES
3.EXPERIENCES
4.EVENTS
5.PERSON
6.PLACES
7.PROPERTIES
8.ORGANIZATIONS
9.INFORMATIONS
10.IDEAS

COMPONENTS OF MARKET OFFERING

value-based prices

Product
features
& quality

Attractivenes
s of the
market
offering
Services
mix and
quality

Product levels
Potential product
Augmented product
Expected product
Basic product

Core
benefit

Product hierarchy
--Need family
--Product family
--Product class
--Product line
--Product type
--Item

The Product Classification


Durability and Tangibility
*Non durable goods
*Durable goods
*Services

The Product Mix


--Product mix has a certain:
*Width
*Length
*Depth
*Consistency

Product-Mix Width and Product-Line


Length for PROCTOR & GAMBLE products
Detergent
s

Toothpast
e

Disposabl
e Bar
Soap

Diapers

Ivory
Snow
(1930)

Gleem
(1952)

Ivory
(1979)

Pampers Charmin
(1961)
(1928)

Crest
(1955)

Kirks
(1855)

Luvs
(1976)

PRODUCT Dreft
(1933)
LINE
LENGTH

Paper
Tissue

Puffs
(1960)

Tide
(1946)

Lava
(1893)

Banner
(1982)

Cheer
(1950)

Camay
(1926)

Summit
(1992)

Line stretching
Line-market stretch

--the company may notice strong growth opportunities


as mass retailers attract a growing number of shoppers
--the company may wish to tie up lower end
competitors who might other wise try to move up market
--the company may find that the middle market is
stagnating or declining

Up-market stretch
Two way stretch

The product and product


mix
--Line Filling
Just-noticeable difference

--Line Modernization
Featuring and pruning

Services
Services are economic activities offered one

party to another. Often time-based


performances bring about desired results to
recipients, objects or other assets for which
purchasers have responsibility.

Sale of marketing entities


Sugar
Soft Drink
Mobiles
Automobiles

Restaurants

Restaurants
Train
Advt. Agencies

Airlines
Teaching

Service Characteristics
INTANGIBILITY
Services cannot
be seen ,seen
tasted, felt,
heard, or smelled
before purchase

INSEPARABILITY
Services cannot
be separated
from their
providers
services

VARIABILITY
Quality of
services
depends on who
provides them
and when,
where, and how

PERISHIBALITY
Services cannot
be stored for later
sale or use

Marketing strategies for


service firms
Service companies face three tasks

--Competitive differentiationBetter & fast delivery


--Service qualityExchange perceived value vs
expected value
--Productivity enhance human skills,

increase the quality


of service without surrendering quality, industrialize the service, give
customers with incentives to substitute their own labour for company
labour and Harness the power of technology to give better service and
make service workers more productive

Five Determinants of Service


Quality
--Reliability
--Responsiveness
--Assurance
--Empathy
--Tangibles

THANK YOU

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