PRODUCT

Is a mix of both tangible and intangible

elements that offer a bundle of attributes
such as features, functions, benefits and
uses.

It exists for the purpose of being exchanged

in order to satisfy individual or organization
objectives.

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 ESSENTIAL ATTRIBUTES OF THE PRODUCT

1. QUALITY The ability of the product to perform

its expected functions, its conformity to
standards, and its “fitness for use”.

2. FEATURES Are tools for differentiation: what

the product has that sets it apart from other
products.

3. DESIGN Beyond just style, design involves

how the product’s physical form contributes to
its overall usefulness.
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 THE BASIC LEVELS OF A PRODUCT

1. CORE PRODUCT The real reason why a

person purchases this product.

2. ACTUAL PRODUCT This is what you see or

actually get. These include the quality, style,
features, the brand itself, and even its
packaging.

3. AUGMENTED PRODUCT Additional services

or value-added benefits that are included over
and above the actual product itself.
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 THE BASIC LEVELS OF A PRODUCT

3. AUGMENTED PRODUCT Additional

services or value-added benefits that are
included over and above the actual product
itself.

These include the warranties, free

installation services, free delivery, and
money back guarantees.

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 CLASSIFYING PRODUCTS BY DURABILITY

1. NON-DURABLE GOODS

Are consumables such as fresh food,

canned goods, supermarket items,
newspapers, and personal care products.

These are products with short lifespans,

which means that a consumer usually
purchases these items on a regular basis.

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 CLASSIFYING PRODUCTS BY DURABILITY

2. DURABLE GOODS

Are generally more expensive, more

permanent items such as television sets,
automobiles, computers or eve a house.

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 CLASSIFYING PRODUCTS BY TYPE OF
CONSUMER GOOD
1. Convenience Goods
These are products that are bought regularly or
spontaneously with minimal effort and can
usually be considered as low-involvement
items.

These include staple goods like rice, canned

goods, catsup, soaps, and alcohol; impulse
goods such as candies, magazines and
cigarettes; and emergency goods such as
batteries and umbrellas.
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 CLASSIFYING PRODUCTS BY TYPE OF
CONSUMER GOOD
2. Shopping Goods
These are products that are high-
involvement and require a certain
level of searching on the part of the
market. These include clothes, shoes, and
expensive items such as computers.

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 CLASSIFYING PRODUCTS BY TYPE OF
CONSUMER GOOD
3. Specialty Goods

These products benefit their customers by

their very uniqueness or distinction. Some
branded clothes and shoes are specialty
goods because there is no perceived
substitute for this product and consumers
will go out of their way to buy these.

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 PRODUCT LINE
Is a set of product offerings along a particular
product category.

Procter and Gamble may have a line of hair care

products

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 BRAND
Is a name, term, sign, symbol or design or a
combination of these, intended to identify the goods
or services of one seller or group of seller and to
differentiate them from those of the competition.

Brand, also communicate messages to consumers,

as well as function as legal property.

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 ELEMENTS OF BRAND
A brand includes the actual brand name, logos,
symbols, fonts, mascots, slogans, website URLs,
music jingle, colors, packaging and signage.

BRAND EQUITY

The value of the brands.

The repository of value.
These include product uniqueness, history and
legacy (durability), asset potential or investability,
distinction and difficulty of imitation and imperfect
substitutability.
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 SKU

Stock Keeping Units

It represents an item that you have for sale.
It is how retailers keep track of their kinds of
inventory.

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 TAPPING GLOBAL MARKETS
A business operates on a global scale, go through
five (5) stages of development:

1. Domestic The focus of the business is primarily on local

markets.
2. International The business has expanded it marketing,
manufacturing or other activities
3. Multinational The business begins to realize that
international markets require their own business
strategies to flourish.
4. Global The business is either actively engaged in
global marketing campaigns with local production
supplying a global market.
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