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Product Strategy
Topic
List
Product
Characteristics
Group-Wild
Stone
Differentiation and
Design
Luxury Products
and Environment
Classification of products :
Product refers to anything that can be offered to a marketer for
attention,
acquisition, use or consumption that might satisfy a want or need. A
product is a set of tangible and intangible attributes, which may include
packaging, colour, price, quality, brand and sellers services and
Product Classifications and Types:
reputations.
1. Consumer product:Product bought by final consumer for
personal consumption.
1. Convenience Product : Customer usually buys frequently,
immediately, & with a minimum of comparisons and buying effort.
e.g. tooth paste
2. Shopping Product: Customer purchase after the process of
selection
e.g. clothing
3. Speciality Product: Consumer product with unique
characteristics or brand
identification
4. Unsought product : Consumer either does not know about or do
not want
to think normally before buying.
2. Industrial Product : Product bought by individuals and
organization for further processing or for use in conducting a
business.
1. Materials and parts
DIFFERENTIATION
WHY ?
PRODUCT
DIFFERENTIATION
SERVICES
DIFFERENTIATION
ORDERING EASE
FEATURES
DELIVERY
PERFORMANCE QUALITY
INSTALLATION
CONFORMANCE QUALITY
CUSTOMER TRAINING
DURABILITY
RELIABILITY
RETURNS
STYLE
CUSTOMIZATION
Design
Totality of features that affect the way a product looks, feels
and functions to a consumer
Design
Leaders
Power of
Design
Approaches to
Design
In a crowded
marketplace, aesthetics is
often the only way to
make a product stand
out.
Green Marketing
Green marketing takes into account the importance of an
action by the company in the nature preserve.
By doing green marketing campaignthe company
automatically becomes unique that could be the main
attraction for consumers since A majority of polls indicate
that consumers favor green products, and are willing to pay
more for them
Some popular examples of Green Marketing are :
Starbucksbranding itself as a promoter of sustainable
coffee-growing practices, paying a premium price to
encourage farmers to adopt more environmentally-friendly
practices
Timberlandrates each of the shoes it sells based upon its
environmental impact. Additionally, it redesigned its stores to
use 30 percent less energy than before.
Need Family
Core need of a
product family
Product family
Product classes
satisfying core needs
effectively
Product Class
Functional inheritance
to a group of products
within product family
Product Line
Product Systems
and
Mixes
Product
Width
DownStret
ching
Line Filling
Line Modernization
,featuring and
Pruning
UpStretchin
g
1.Modernizing the
product lines.
2.Helps the growth
in product
development in
emerging markets.
3.Improvements
planning and timing
plays a crucial role
featuring
Product Mix-Pricing
Product Line
Pricing price steps to
Incremental
Optional-Feature
Pricing
the options in order to
Pricing
Product
The Captive
captive product
pricing
allowsPricing
us to be captivated after
the purchase of the main
product whereby the additional
pricing on conditions are
applicable with captivated
product.
Ex:Printer and Printer catridges
Concept of Co-Branding
Two-Part Pricing
Two-Part Pricing
Product-Bundling
Product bundling involves
Pricing
bundling of mixed
bundling of mixed
products/services as tied in
sales which gives the whole is
less than sum of individual
prices in their category.Ex:Offer
of two trousers in 2000 with
individual trousers priced at
1050
PACKAGING
The objectives of packaging are:
Identify the brand
Convey descriptive and persuasive information
Facilitate product transportation and protection
Assist at-home storage
Aid product consumption
Engineering Test
Visual Test
Dealer Test
Consumer Test
Labelling
Functions of a label:
Identifies the product or brand.
Grade the product.
Describe the product.
Promote the product
Thank You