DEFINITION:

• A product is goods service or idea design to fill a consumer need or

want.
Reference: Marketing by
William Pride

• A product or anything that can be offered to a market for attention, use

or consumption and that might satisfy want or need.
Reference: Marketing an Introduction by
Philip Kotler
 CLASSIFICATION OF
PRODUCT
1. Consumer Products
2. Business Products.

1. Consumer Products:
Product purchase to satisfy personal and family needs.
2. Business Products:
Products bought to use in an organization’s operations to
resale or to make other products.
 PRODUCT
LIFECYCLE:
The progression of a product through five stages;

1. Product Development
2. Introduction
3. Growth
4. Maturity
5. Decline
1. Product Development:
Begins when the company finds and develop a new product idea.
During product development, sales are zero and the company’s investment costs
mount.
2. Introduction:
It is a period of slow sales growth as the product is introduced in the
market. Profits are non-existent in this stage. Because of the heavy expenses of
product introduction.
3. Growth:
Is a period of rapid market acceptance and increasing profits.
4. Maturity:
It is a period of slowdown in sales growth because the product has
achieved acceptance by most potential buyers. Profits level off against the
competition.
5. Decline:
It is a period when sales fall off and profit drop.
 PROCESS OF
PRODUCT:
There are 2 process of product;

1. Adaptation Process
2. Diffusion Process

1. Adaptation Process:
The adaptation process is defined as the mental process
through which an individual passes from first time learning about innovation
to final adaption. The stages of the adaption process are as follows;
i. Awareness:
The buyer become aware of the product.
ii. Interest:
The buyer seeks information and it’s respective to learning about the
product.
iii. Evaluation:
The buyer consider the producers benefit and decides whether to try
it.
iv. Trial:
The buyer examine taste or price the product to determine if it meet
his/her needs.
v. Adaption:
The buyer purchase the product and can be accepted to use it again
whenever the need for this general type of product arises.
2. Diffusion Process:
The manner in which different member of the target offer accept and
purchase a product. The stage of the diffusion process are as follows;
i. Innovators:
First adaptors of new product. They try new ideas at some risk.
ii. Early Adaptors:
Careful choosers of new products.
iii. Early Majority:
Individuals who adopt a new product just prior to the average
person.
iv. Late Majority:
Skeptical who adopt a new product.
v. Laggards:
Laggards are the tradition bound they are suspicious of changes and
adopt the innovation only when it has become something of a tradition itself.
PRODUCT
LINE
 DEFINITION:
➢ A product line is a group of closely related product items that are
consider to be a unit because of marketing, technical and use
consideration.
Reference: Marketing by
William Pride

➢ A group of product that are closely related because they function in a

similar manner and are sold to same customer groups and marketed
through the same type of outlets or fall within given price ranges.
Reference: Marketing an Introduction by
Philip Kotler
PRODUCT
MIX
 DEFINITION:
➢ A product mix is the composite or total group of products
that an organization makes available customer. For Example;
All the health care, beauty care, launder care, cosmetics, food
and beverage, product that proctor and gamble manufactures
constitute its product mix.
Reference: Marketing by
William Pride

➢ Product mix consist of all product lines and items that a

particular sales offers a sale.
Reference: Marketing an Introduction by
Philip Kotler
 The development of original products, product improvement, product
modification and new through firms on research on development efforts.

MAJOR STAGES IN NEW PRODUCT

DEVELOPMENT:
1. Idea Generation
2. Idea Screening
3. Concept Development and testing
4. Marketing Strategy Development
5. Business Analysis
6. Product Development
7. Test Marketing
8. Commercialization
1. IDEA GENERATION:
The systematic search for new product ideas a
company typically has to generate many ideas in order to find a few good
ones.
2. IDEA SCREENING:
Screening new product ideas in order to spot
good ideas and drop poor ones as soon as possible.
3. CONCEPT DEVELOPMENT AND TESTING:
Testing new product concept with a group of
target consumers to find out if the concept has strong consumer appeal.
4. MARKETING STRATEGY DEVELOPMENT:
Designing an initial marketing strategy for a
new product based on the product concept.
5. BUSINESS ANALYSIS:
A review of the sales, cost and profits projections
for a new product to find out whether these factors satisfy the company’s
objective.
6. PRODUCT DEVELOPMENT:
Developing the product concept into a physical
product in order to ensure that the product ideas can be turned into a
workable product.
7. TEST MARKETING:
The stage of new product developing in which
the product development in which the product and marketing program
are tested in more realistic market setting.
8. COMMERCIALIZATION:
Introducing “new product” into the market.
 DEFINITION:
• A name, term, sign, design, or other feature that identify a seller
products and differentiate them from competitor’s product.
Reference: Marketing by
William Pride

• A name, term, sign, design, symbol or a combination of these intended

to identify the goods or service of one seller or group of sellers and to
differentiate them from those of competitors.
Reference: Marketing an Introduction by
Philip Kotler
BRAND NAME:
The part of a brand that
can be spoken including letters,
words and numbers such as; 7up,
1st Step, etc.

BRAND MARK:
The part of a brand not
made up of words such as; a
symbol or design.
TRADE MARK:
A trade mark is a legal designation
indicating that the owner has exclusive use
of a brand.

TRADE NAME:
A trade name is the full legal name of an organization
such as Ford Motor Company rather than the name of a specific product.
TYPES OF BRAND:
There are 3 types of brand;

1. Manufacturer Brand
2. Private Distributor Brand
3. Generic Brand.
1. MANUFACTURER BRAND:
Manufacturer brands are initiated by producers
and ensure that producers are identified with their products at the point of
purchase. For Example; Green Giant, Dell Computer, and Levi’s jeans.
A manufacturer brand usually requires a producer to become involved in
distribution, promotion, and to some extent, pricing decisions.
2. PRIVATE DISTRIBUTOR BRAND:
Private distributor brands (also called private
brands, store brands, or dealer brands) are initiated and owned by resellers –
wholesalers or retailers. The major characteristic of private brands is that the
manufacturers are not identified on the products.
Private distributor brands give retailers or wholesalers freedom to
purchase products of a specified quality
at the lowest cost without disclosing the
identities of the manufacturers.
Retailer brand names include
Target’s Archer Farms and Up and Up.
Walmart’s Great Value, and
Whole foods’ 365 Everyday Value.
3. GENERIC BRAND:
Generic brands indicate only the product category
and do not include the company name or other identifying terms. These
items are typically staples that would be marketed using an
undifferentiated strategy because they lack special features, such as;
Sugar, Salt, or Aluminum foil.

Reference: Marketing by
William Pride
PACKAGING
 DEFINITION:
• The activities of designing and producing the container or
wrapper for a product.
Reference: Marketing an Introduction by
Philip Kotler

• Packaging involves the development of a container and a

graphic design for a product.
Reference: Marketing by
William Pride
 FUNCTIONS OF
PACKAGING:
There are three functions;

1. Packaging Material
2. Convenience to Consumer
3. Promote a Product by Communicating.
1. PACKAGING MATERIAL:
Serve the basic purpose of protecting the
product and maintain its functional form such as milk, orange, orange
juice, and hair spray need packaging that preserve and protect.
2. CONVENIENCE TO CONSUMER:
Small aspects packaging individual size or
plastic bags that contain liquids and do not required refrigeration strongly
appeal to children and young adults with active lifestyle.
3. PROMOTE A PRODUCT BY COMMUNICATING:
A third function of packaging is to promote a
product by communicating its features, uses, benefits and images.
 MAJOR PACKAGING
CONSIDERATION:
1. One major consideration is cost.
2. Varity of packaging material.
3. Food and Drug Administration packaging regulation.
4. Preprinted use UPC Code. (Universal Product Code)
5. Need to consider consistency among package design.
6. Need to inform potential buyers of new product content, features,
uses and advantages.
LABELLING
 INTRODUCTION:
Labels may range from simple tags attached to product to
complex graphics that are part of package at the very least, the identified
the product or brand, such as the name, Sunkist stamp or oranges.

Reference: Marketing an Introduction by

Philip Kotler

DEFINITION:
Labeling providing identifying promotional or other information on package labels.

Reference: Marketing by
William Pride
 FILL IN THE BLANKS
1. A ___________ is goods service or idea design to fill a consumer need or want.
2. ___________ is a period of rapid market acceptance and increasing profit.
3. ___________ is a period when sales fall off and profit drop.
4. ___________ Process is defined as the mental process through which an
individual passes.
5. A ______________ is the composite or total group of product than an
organization makes available customer.
6. The part of a ___________ that can be spoken including letter, word and marks.
7. There are _________ types of brand.
8. Private distribution brands also called ________ brands.
9. A _________ name is the full legal name of an organization.
10. ___________ providing identifying promotional or other information on
packaging labels.