g4 Marketing Report Product

BOOKBLEND DRIPS
LESSON 11
PRODUCT
Table Of Content
4PS AND 4ES
PRODUCT DEFINED
LEVELS OF A PRODUCT
CLASSIFICATION OF A PRODUCT
NEW PRODUCT DEVELOPMENT
PRODUCT LINE
PRODUCT LIFE CYCLE
MARKETING STRATEGIES FOR
SERVICE FIRMS
4PS AND 4ES
The 4Ps of the Marketing Mix was
introduced by E. Jerome McCarthy in 1960.
The 4Ps refer to Product, Price, Placement,
and Promotion.
In 2009, Brian Fetherstonhaugh of Ogilvy

and Mather, a well-known marketing
agency, introduced the 4Es as a way of
updating the 4Ps. The 4Ps refer to
Experience, Everyplace, Exchange, and
Evangelism.
4Ps and 4Es
PRODUCT TO EXPERIENCE PLACE TO EVERYPLACE
Discover and map out the full Develop your knowledge of new
Customer Journey on your own media and channels the way a
brand – in your own country. chef masters new ingredients. Try
new things.
PRICE TO EXCHANGE PROMOTION TO EVANGELISM

Appreciate the value of things, not Find the passion and emotion in
just the cost. Start by calculating the your brand. Inspire your customers
value of your customers – and what and employees with your passion.
their attention, engagement and
permission are worth to you.
PRODUCT DEFINED
Products are tangible objects that a company sells to customers for
their use or consumption. These products are expected to satisfy
customers' needs and wants.
Like products, services are also sold by a company to a set of

customers. However, unlike products, services tend to be
intangible; they are directly delivered to the customers by the
company's employees.
These services and products all contribute to the

customer's overall experience with a company.
CORE PRODUCT
This refers to the benefit that a customer
Levels of a
can gain from using the product. It can thus
be the main reason for purchasing a
Product
product.
ACTUAL PRODUCT
Sales professionals use product This corresponds to the tangible
levels to assess and assign how characteristics of a product, including its
exactly a product can meet the features and packaging.
customers’ various demands, needs,
and wants. Businesses can
AUGMENTED PRODUCT
accomplish this by adjusting and
This level refers to the service-based
adding products that appeal to
add-on that customers are entitled to
clients at multiple value levels and
upon purchasing a product.
categories.
Classification of Products
CONSUMER GOODS
- are products and services purchased by
customers for their own use, and are thus
frequently purchased.
INDUSTRIAL GOODS
- are purchased by businesses and are used in the
creation of new product which shall be eventually
be sold to others.
Industrial Goods includes:
CAPITAL GOODS
- goods that are used in producing other goods,
rather than being bought by consumers.
RAW MATERIALS
- the basic material from which a product is made
which are further processed or modified in order to
become a new product
Guess the Logo
(Food Edition)
Guess the Logo (Food Edition)
Pringles
Sprite
Pizza Hut
KFC
Domino's
Coca-Cola
Oreo
Pepsi
McDonald's
Krispy
Kreme
New Product Development
New product development is a process that
involves the conceptualization and creation of
innovative products that will catch the
attention of customers and ensure their
loyalty to a particular brand.
Seven stages in the process of developing new products
(1) IDEA GENERATION

In this first stage, the company searches for and
surveys new ideas to be used in developing a
product.
This can involve the company's sales and executive
teams to generate ideas based on market trend
research. Scientists can also contribute to the
generation of ideas.
(2) IDEA SCREENING

This is the stage when the ideas generated by the
company's sales and science experts are
carefully scrutinized to retain only those ideas
which have the potential for a successful sales
performance, and eliminate those which may fail.
(3) CONCEPT DEVELOPMENT AND

SCREENING
It is assumed at this stage that the product has
at least a hypothetically high chance of
succeeding in the market
(4) MARKET AND BUSINESS PLANNING

After the concept for the new product is
developed, the next step is to plan how it will be
marketed.
(5) PRODUCT DEVELOPMENT

At this stage, the concept is developed into a
product prototype. This stage involves the
efforts of both the marketing and research
departments of companies.
Product Prototype Example
(6) TEST MARKETING

Once a product prototype is developed, its
marketability is tested with a particular group of
customers in a specific location.
(7) COMMERCIALIZATION
After the product prototype has been tested, the
company or firm will make its final decision on
launching the product.
SOFT LAUNCH FULL-SCALE LAUNCH

The product will be tested Serves as the official
with a limited number of launching of the product
customers.
PRODUCT LINE
Product line is a group of similar products offered by the
same company under the same brand.
Marketing a product line attracts more customers as they

have varying preference and needs
Marketers are expected to closely monitor the

performance of each product in the product line.
Product Life Cycle
The product life cycle is defined as the period of time a product is introduced, sold, and
eventually removed from the market.
INTRODUCTION GROWTH
This is the stage when the product
Is the stage when the product is
gains acceptance in the market,
launched in the market.
and the profits for the firm or
company start to increase.
MATURITY DECLINE
At this stage, the product has This is the stage when the profits
been in the market for a long and the sales for the product
period and competition has also continue to decrease
increased
SELECTING AND TRAINING THE
Marketing
EMPLOYEES
Strategies for ASSOCIATING EFFECTIVE CUSTOMER

SERVICE WITH EMPLOYEE
Service Firms MOTIVATION
Services are considered a different

type of purchase; they involve DELIVERING HIGH QUALITY
SERVICE
contact between the customer and
an employee who provides the
service. BUILDING A STRONG AND
LOYAL CUSTOMER BASE
THANK YOU
DIRECTOR:
Louella Erica Cortes
ASSOCIATES:
Christine Joy Ibañez
Princess Hillary Campomanes Jobelle Villanueva
Mariland Cristobal Perfo Bolante
Christian Lorenz Sabaldica Princess Joanna Santiago
REFERENCES:
Product Levels - https://www.davidpaulcarter.com/2017/04/24/4ps-
4es/#:~:text=The%20four%20%E2%80%9CP's%E2%80%9D%20of%20marketing,%2C%20Exchange%2C%20Ev
eryplace%2C%20Evangelism.
The 4Ps Are Out, The 4Es Are In - https://www.davidpaulcarter.com/2017/04/24/4ps-
4es/#:~:text=The%20four%20%E2%80%9CP's%E2%80%9D%20of%20marketing,%2C%20Exchange
%2C%20Everyplace%2C%20Evangelism.

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BOOKBLEND DRIPS

In 2009, Brian Fetherstonhaugh of Ogilvy

PRICE TO EXCHANGE PROMOTION TO EVANGELISM

Like products, services are also sold by a company to a set of

These services and products all contribute to the

(1) IDEA GENERATION

(2) IDEA SCREENING

(3) CONCEPT DEVELOPMENT AND

(4) MARKET AND BUSINESS PLANNING

(5) PRODUCT DEVELOPMENT

(6) TEST MARKETING

SOFT LAUNCH FULL-SCALE LAUNCH

Marketing a product line attracts more customers as they

Marketers are expected to closely monitor the

Strategies for ASSOCIATING EFFECTIVE CUSTOMER

Service Firms MOTIVATION

Services are considered a different

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