Dr.

Subhadip Roy

What is a Product?
A product is anything that can be offered to a market

to satisfy a want or need.

Includes: physical goods, services, experiences, events,
persons, places, properties, organizations, information,
and ideas.

Product Levels

Product Classification Schemes

Durability

Tangibility

Convenience

Shopping

Specialty

Unsought

Use

Product Classifications
Materials and Parts
Manufactured
materials
Raw materials

Supplies and
business Services

Industrial-Goods
Capital Items
Installations

Equipment

New Product Development

The New Product Challenge

Give me five uses of the

product shown to you

other than its traditional
use:

Did you know?

Sugarcane is under examination for alternative fuels?

Fluoride paste could be used as a cleaner for certain

metals and also anti burn aid?

Mobile phones are being used in rural India to start
pumps remotely?
Some rural innovations: Bicycle weed sprayer, Floating
soap, Modified hand pump with tap and attachment
for filling animal trough, Tin can stove, Milking
Machine, Gas Iron, Bamboo Lathe, and it goes on..

The Product Life Cycle (PLC)

Diffusion of Innovation

PLC Strategy
PLC Stage

Introduction

Growth

Maturity

Decline

How to Differentiate?
Product form

Style

Features

Design

Performance

Ordering ease

Conformance

Delivery

Durability

Installation

Reliability

Customer relations

Reparability

Maintenance

Product Hierarchy
Need Family
Thirst

Product Family
Product Class
Product Line
Product Type

Soft Drink

Carbonated

Cola
Vanilla
Cola

Can

Item/SKU

Product Mix
Width

Consistency

Product
Mix

Depth

Length

Example

Product Pricing
Traditional ways (cost +, markup)
Optional-feature pricing (Residential Flats, Cars)
Captive-product pricing (Razor Blades)
Two-part pricing (Digital TV, Pub)

By-product pricing (Sugarcane)

Product-bundling pricing (Furniture Sets)

Packaging
Identify the brand
Aid product consumption
Convey information

Facilitate product

transportation and
protection
Assist at-home storage

Thank You