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Product Decision All Chapter
Product Decision All Chapter
decision
Presentation By
Narendra Mishra
GovindBallabh Dugrakoti
CONCEPT OF PRODUCT
• In marketing, a product is anything that
can be offered to a market that might
satisfy a want or need.
• A product is a physical good, service, idea,
person or place that is capable of offering
tangible and intangible attributes that
individuals or organisations regard as so
necessary, worthwhile, or satisfying that they
are prepared to exchange money, patronage or
some other unit of value in order to acquire it.
Customer value hierarchy
PRODUCT CLASSIFICATION
§ ON THE BASIS OF
CHARACTERSTICS OF PRODUCT
•Durable products
•Non-durable products
•Service products
Goods and services
Maturity
Decline
Growth slump-maturity
pattern
x axis-time, y axis-sales
introduction stage
Rollout
takes time
Promotional expenditure /sales
is highest 1)inform potential
customer
•2)Induce product trial
•
Marketing strategies
qProduct
qPrice
qDistribution – selective
q
qPromotion - brand awareness.
early adopters
q
Growth stage
Rapid climb in sales
• Marketing strategies
Product
Price
Distribution
Promotion
•
•
Maturity stage
qExists for longer period
• three stages
• 1. growth
• 2. stability
• 3. decline
q competition
Decline stage
qTechnological
advancement
•
qConsumer taste
•
qCompetition
•
Marketing strategies
Weed out weak products
Focus on potential products
Research and development
Investments
PRODUCT MIX
The sum of all the products and variants offered
by an organisation.
The product mix can be split into the following:
• Product lines.
• Product mix width.
• Product line length
• Product line depth.
• Product consistency
•
Product-Mix Width
• DETERGENTS TOOTHPASTE BAR SOAP DISPOSABLE
PAPER
• DIAPERS
PRODUCT
•
Lack
Poor
Distinct Foreign
ive Langua
ge
Meanin
gs Easy
to:
Sugges Sugges Pronou
t t nce
Product Product Recogn
Qualitie Benefit ize
s s Remem
ber
packaging
All
activities that are aimed at
designing and producing
container for products
objectives
Identify the brand
Convey information
Transportation and protection
Aid product consumption
As marketing tool
Self service
Customer affluence
•
a formal assurance that certain conditions
will be fulfilled, especially that a product
will be of a specified quality
refrences
Marketing management: Philip kotlar, kelvin
lane keller (12edition,2006)
• Pearson prentice hall
Ø Marketing by Zikmund &d”Amico
Ø www.wikipedia.com
•
Any
querries
?
•
•
Thank you