PRODUCT

ITS NATURE AND SUSTAINABILITY

 Product Description
1. Cite the uniqueness of the
product over the existing
product in terms of
CHARACTERISTICS, VARIATIONS
and the like.
2. Use layman's term in describing
the product or service.
 Product Description
1. Illustrate the usefulness of the
product/ service.
2. Present the nature including the
content of raw materials that
will be used in the proposed
product, and what is the source
and where to find it.
 Levels of Product
TANGIBLE PRODUCTS
- the basic physical appearance which can be a
service or idea having the precise
specifications and is offered under a given/
specific description or model number.
Ex. house and lot 400 square meters
Honda Brio model _________
 Levels of Product
AUGMENTED PRODUCT
- Includes the image and service feature of
a certain entity. It gives emphasis on the
intangible benefits that the costumer
will be getting from buying the product.
Ex. car insurance, medical and dental
benefits, fire insurance
 Levels of Product
GENERIC PRODUCT
- Emphasizes the impact of the product to
the costumer, not the seller. This will
signify the purpose of existence and the
primary objective in creating the
product.
Ex. prestige, professional image
 Types of Product

GOODS
- Sale of the physical products
from the manufacturer to the
consumer
 GOODS
1. DURABLE GOODS
- Are products that are used over a
long period of time.
Ex. appliances, steel, stainless
 GOODS
2. NON- DURABLE GOODS
- Quickly and easily consumed or
worn out, become obsolete,
unfashionable or no longer popular.
Ex. products made with plastic
 Types of Product

SERVICES
- Intangible products
 SERVICES
1. RENTED- GOODS
SERVICES
- Are the consumer rented facility
of the sellers in a certain period
of time
Ex. car rental
 SERVICES
2. OWNED- GOODS
SERVICES
- Are the repair and maintenance
services rendered by the sellers
to the products of the customers.
- Ex. laundry business, car wash
 SERVICES
3. NON- GOODS SERVICES
- Is a personal service on the part
of the seller
- Ex. teacher as tutor, accountant as
bookkeeper, lawyer as consultant
 CHARACTERISTICS OF SERVICES
1. Intangibility is the services that cannot be
displayed, transported, stored, packaged or
inspected before buying.
2. The credibility of the service provided most
of the time counts.
3. Inseparability is the service provider and
services that cannot be separated.
4. Variability is when the service is difficult to
standardize because it varies upon the
performance of the provider.
 CONSUMER PRODUCTS

These are goods and services destined/

produced for the final consumer for
personal, family, or household use.
 CONSUMER PRODUCTS

CONVENIENCE PRODUCTS
are purchased with the minimum or
less effort because the buyer has
knowledge of product characteristics
prior to shopping.
CONVENIENCE PRODUCTS
1. STAPLES
- Are low priced items that are
routinely purchased on a regular basis
and are products that are used
everyday.
Ex. rice, soap, toothpaste
CONVENIENCE PRODUCTS
1. impulse
- Products that the consumer does not
plan to buy. The customer was
attracted to buy the product or some
reasons.
 CONSUMER PRODUCTS

SHOPPING PRODUCTS
Are products that the consumer
acquire through further knowledge and
information in order to make final
purchase decision
 SHOPPING PRODUCTS
1. Attribute-
based
- Provide customers with information
and evaluated product features,
performance, options, warranties and
other factors
 SHOPPING PRODUCTS
1. Price- based
- judge product attributes to be the
same and look around for the least
expensive items.
 CONSUMER PRODUCTS

SPECIALTY PRODUCTS
are items with particular brands and
stores to which consumers are loyal.
They are willing to make a significant
effort to acquire the brand and will pay
higher the price.