Professional Documents
Culture Documents
Management of Products and Services
Management of Products and Services
Management ofof
Products
Products and
and Services
Services
Product: its nature
Anatomy of a Product Core Offering: value
it offers to the customer Tangible
Specifications: Physical dimensions, other
tangibles
Augmentation:support. Image: brand,
manufacturer; ease of availability etc.
What is a Product?
The total product
Primary characteristics
Auxiliary dimensions
Core & Augmented
Product
Augmented
product AUXILIARY
CHARACTERISTICS
Core
product
Primary
Characteristics
Managing of the Product
• Handling the issues related to the product
• Co ordination with the field force to assess the demand
product design to ensure suitability in the marketplace
production/ manufacture to ensure availability
Thus it is at the hub of the organisation
Changing Environment
• Environment in a state of Constant flux
• Single Product
• Product Range
• Multiple Product/Range
Perspective on New
Domestic Competition
• Emergence of Rural • New Product Variants
Markets • Identifying and capturing
New segments, sub
• Competition for segments
Channels • Improving Distribution&
Service
• Regional Brands
• Dealing with new
• Value for Money competition
segments
• Niche Players
Emerging Focus from Global
Competition
• Well known Brands • Expanding Range
• Focus on Quality and Service • New Product Development
• High end Technology • Up gradation; moving to
New Product Categories premium segments
•
• Financial muscle of MNCs • Strengthen Distribution
• Catering to New Segments • Concentrate on Core
competencies
• Optimum, creative use of
Marketing Resources
Types of Products
Convenience Shopping Specialty
Convenience Specialty
Products Shopping Products
Products
Effort expended
Product Lines & Product
Mixes
Product item
Product line
Product class
The Product Portfolio
?
Market growth rate
High PROBLEM
CHILD STAR
Low
Low High
Market share
Brand, What is it?
• A Brand is a distinguishing name and/or symbol, logo,
trademark or package design) intended to identify the
goods or services of a seller, and to differentiate these
from those of competitors. A brand thus signals to the
customers the source of the product, and protects both
sides from the competitors who would attempt to provide
products apparently identical.
Relevance and Logic of
BRANDING
• Aims to segment the market
• Starts with a big idea
• Has an enduring value
• Tries to protect the innovation
• Is a living memory
• Should sustain even though the product may die
Successful Brands :
criteria
• At Product level: Should deliver benefits
• Should offer intangibles besides tangible
benefits
• Benefits on offer should be consistent with
the personality
• Benefits offered must be relevant to the
customer
Need for Success: Product
Quality
• Performance: How well does a washing m/c clean
• Features: How many channels on TV
• Conformance with specs: Level of defects
• Reliability: Will the mixer work early in the morning
• Durability: How many years will the DVD last
• Serviceability: Efficient, competent & convenient
• Fit & finish: Feel of Quality
Need for Success:
Service Quality
• Tangibles: Facilities, equipment & personnel
• Reliability : Will the accounting work be done
dependably and accurately
• Competence: Does the service staff have the
required knowledge and skills, do they generate
trust and confidence
• Responsiveness: Is the staff willing to help
• Empathy: Does the bank provide caring
,individualized attention to the customers
Predicting Success (Delta
Habit Factor)
Changing duration of consumption
• Evolving new occasions for use
• Changing sharing habits
• Changing buying habits
• Doing something new
• Changing the frequency of the consumption
•
• A combination of these
Effects of extending
a brand to a new product
Brand
Recall
Brand
Recognition
Unaware of the
Brand