MEANING & CLASSIFICATION OF

PRODUCTS

BY-ABHINAV DAYAL
M.B.A. (II SEM)
 WHAT IS PRODUCT?
• A product is anything that can be offered to a market to
satisfy a want or need including-
• Physical goods
• Services
• Persons
• Places
• Properties
• Organizations
• Information
• Ideas.
FIVE PRODUCT LEVELS

CORE BENEFIT

BASIC PRODUCT

EXPECTED PRODUCT

AUGMENTED PRODUCT

POTENTIAL PRODUCT
• CORE BENEFIT:-The service or benefit the
customer is really buying.

• BASIC PRODUCT:-It is about what specifically

the actual product is.

• EXPECTED PRODUCT:-A set of attributes and

conditions buyers normally expect when they
purchase this product .
• AUGMENTED PRODUCT:-The augmented
product is the result of voluntary
improvements brought about by the
manufacturer in order to enhance the value of
the product.

• POTENTIAL PRODUCT:-All the possible

augmentations and transformations the
product or offering might undergo in the
future.
 PRODUCT CLASSIFICATIONS
• Durability & Tangibility

• Consumer-goods

• Industrial-goods
 DURABILITY & TANGIBILITY
• Nondurable goods:-Tangible goods normally
consumed in one or a few uses.

• Durable goods:-Tangible goods that normally

survive many uses.

• Services:-Intangible ,inseparable ,variable and

perishable products.
 CONVENIENCE-GOODS

CONVENIENCE GOODS

STAPLES IMPULSE GOODS EMERGENCY GOODS

 CONSUMER-GOODS CLASSIFICATION

1. Staples:-Goods consumers purchase on

regular basis.

2.Impulse goods:-Goods purchased without any

planning or search effort.

3.Emergency goods:-Goods purchased when a

need is urgent.
 SHOPPING GOODS

SHOPPING GOODS

HETEROGENEOUS SHOPPING
HOMOGENEOUS SHOPPING GOODS
GOODS
1. Homogeneous shopping goods:-Goods
similar in quality but different enough in
price to justify shopping comparisons.

2. Heterogeneous shopping goods:-Goods differ

in product features and services that may be
more important than price.
• Specialty goods:-Goods that have unique
characteristics or brand identification for
which a sufficient number of buyers are willing
to make a special purchasing effort.

• Unsought goods:-Goods that the consumer

does not know about or does not normally
think of buying.
 INDUSTRIAL-GOODS CLASSIFICATION

INDUSTRIAL GOODS

MATERIALS & BUSINESS

CAPITAL ITEM SUPPLIES
PARTS SERVICES
 MATERIALS & PARTS

RAW MATERIALS MANUFACTURED MATERIALS & PARTS

FARM PRODUCTS NATURAL PRODUCTS COMPONENT MATERIALS COMPONENT PARTS

 CAPITAL ITEMS

INSTALLATIONS EQUIPMENT
 SUPPLIES

MAINTENANCE & REPAIR ITEMS OPERATING SUPPLIES

 BUSINESS SERVICES

MAINTENANCE & REPAIR BUSINESS ADVISORY

SERVICES SERVICES
 REFERENCES
• MARKETING MANAGEMENT
PHILIP KOTLER
K.L.KELLER
ABRAHAM KOSHY
MITHILESHWAR JHA
• www.google.com
THANK YOU!