arketing Managemen c, “Sty ssi00 1 - Pro ve Mix De“ 1c Value: A a xcanse ‘value. 1 an Smmonly accepts a for sale inthe marker, | 3 gmer Satists fopncept of Product ca," | 5) gysto * phe ty my wide concept. In its tenth os ‘ehological. cal or chemical characteristics yy” of getics OM als i; ect or physical obits. % Levels ike satisfying customer ;,. 423- yas f sl) avery Bi val its velity te Sd eee concept, a prog, brand is said to be a dif ee oon ani with vari ei sume mn ’ ge Fk, “Pros s suster of psyenotogical satisfactions Geo According W. Alderso® sa product is @ bundl features and accompanying services”: According © ee: le of utilities consisting of vara bundle of physical services aj ding to Philip Kotler, “a product is @ enolic 8 creed to yield satisfactions OT ‘benefits to the buyer”, manage the products. The of product managers to forecasting and marketing iis tee responsibilty 2, comprise of planning, oduct management activities CO) : Fr products or services at all staBes PF the product lifecycle. Broadly, itis «wit sare of activities carried-out to deliver & particular product in the market, Tt ba wel, 222. Characteristics of Product Se The key characteristics ofa product are as follows: Tey 1) Tere ‘A product can be perceived by sense of touch. It also i 2) Basic I features like to be seen, felt, etc. €.8.,car, computers, t-shirt, etc. pore be 2) Intangil il 3 7 " ) Intangible Ascbaes: nung products lack physical substance. ee sees sept It is in the form of services, e-8- repairing serv 1 fenpibie ee te Intangibility can also be an associated feature © 3) Expes Eien Sr Rete if a person provides free servicin® for! Pom ‘an intangible axtribute! Petar tangible product, whereas after sales se" i custo well az iota in a thatthe product offere is bos ne" ae 3) Associated Attril , tributes: The associ cust ae brand, etc, re features of a product ¢! 4) Ay is best known by the ee Hindustan Lever's ‘ss peckigiie Moccia iL, DAL! ar created such an image that all ‘ea vanaspath phe& sre oofnmagaiy ah ly known as DALD; A ghee.ui Decision 1 - Product and Pricing (Unit 2) a gxchange Value: A product either tar 4) axexchange value: It should be pabewe ea OF intangible in nature mast ha commonly acceptable price. le between the seller and! mee, ai, Consumer Satisfaction: A 8 A product si =“ The tyPe of Satisfaction experiences by a go stitng th Foy, 4 Product for 8 with the ex] « mark 9 Sem en ctak waeae targa gem = nsorship is a big busi Associate their products with the wea realise ee ee ace oy ora nih i ent Te, products a ents are time-| ies try to leverage their toe more years like Award functions, me based which are held in ae persons: Many marketers work as a public 9 Fim siars and sportsperson, Here, a film star ios feidortenient Agent for for the marketer. ‘This type of marketing is a 'sperson is a product i commonly known as celebrity Different places can be markete ; 7) Pee, ourism in Kerala was es ee een een tee County. igning it as God's Own ies are personal assets whi seesnae Properties: PS which are intangible ropetn form of real estate property (eg, Amby Valley sae i jic., shares and bonds (e.g., Maruti i a isations work acti ili ae the organi actively. For example, Philips uses a tagline “Let's 10) Information: Information also acts as a product, when produced tnarketed. Useful information can be provided as a product in different fos fike dictionaries, encyclopaedias, etc. Based on Consumer’s Intentions On the basis of consumer's intentions product can be classified into two calegories: 1) Consumer Products: The goods and services which are purchased by customers for personal consumption are known as “consumer products’. These products are classified as per the consumer’s buying habits/tastes/purchasing power, etc. Consumer products consist of unsought products, speciality products, shopping products ‘and convenience products. These products may vary from person to person and how the products are purchased and marketed. i) Convenience Products: The consumer goods which are easily available and frequently purchased by consumers with minimal efforts are known fs convenience goods. These are mainly household products such as wheat, vegetables, medicines, newspapers and_other_daily j_ supplies, Coriventence products are perishable in natir= “and mist be 8 svithtn few days. These goods are also known 08 Zone shot items’ 1» ity and style. Ifa er is a product then only he purchases it. These P! jucts differentiation ae mostly complex goods. They is a and have high unit value Tike cars, laptops. home etc,Premeeeeye TTT TT TTBet e> SHEE i E & ELaee” FFAgeE esd ye ey testis dl E Biczike zeBEEF £| TTI TTT ~| stTTII TIT | —_—_ Jam‘in terms of Qe i ‘Therefore, it nae sli \ . 2 itis ‘image Tro Son sera Stee product may eause inconvenience is is one of the major reasons of