INDUSTRIAL PRODUCT = A product bought by individuals and organizations for

further processing or for use in conducting a business.

Materials and parts include
- Raw materials consist of farm products (wheat, cotton, livestock, fruits, vegetables)
and natural products (fish, lumber, crude petroleum, iron ore).
- Manufactured materials and parts consist of component materials (iron, yarn,
cement, wires) and component parts (small motors, tires, castings).
Capital items
- Installations consist of major purchases such as buildings (factories, offices) and
fixed equipment (generators, drill presses, large computer systems, elevators).
- Accessory equipment includes portable factory equipment and tools (hand tools,
lift trucks) and office equipment (computers, fax machines, desks).
Supplies include operating supplies (lubricants, coal, paper, pencils) and repair and
maintenance items (paint, nails, brooms)
Business services include maintenance and repair services (window cleaning,
computer repair) and business advisory services (legal, management consulting,
advertising)
- PRODUCT QUALITY = The characteristics of a product or service that
bear on its ability to satisfy stated or implied customer needs.
- PRODUCT FEATURES are a competitive tool for differentiating the
company’s product from competitors’ products.
- PRODUCT STYLE AND DESIGN = Style simply describes the appearance
of a product. Good design contributes to a product’s usefulness as well as
to its looks.
BRANDING = A name, term, sign, symbol, design, or a combination of
these, that identifies the products or services of one seller or group of
sellers and differentiates them from those of competitors.
PACKAGING = Companies are realizing the power of good packaging to
create immediate consumer recognition of a brand
LABELS and brand logos can support the brand’s positioning and add
personality to the brand.
PRODUCT SUPPORT SERVICE  Customer service
Product line
A group of products that are
closely related because they
function in a similar manner,
are sold to the same
customer groups, are
marketed through the same
types of outlets, or fall
within given price ranges.
Product mix (or product portfolio) = The set of all product lines and items
that a particular seller offers for sale.
- width refers to the number of different product lines the company
carries. “Colgate World of Care” includes a fairly contained prod-uct
mix, consisting of personal and home care products
- length refers to the total number of items a company carries within its
product lines. For example, its personal care line includes Softsoap
liquid soaps and body washes, Irish Spring bar soaps, Speed Stick
deodorant, and Skin Bracer and Afta aftershaves.
- depth refers to the number of versions offered for each product in the
line. Colgate toothpastes come in 16 varieties,
- consistency of the product mix refers to how closely related the
various prod-uct lines are in end use, production requirements,
distribution channels, or some other way
Brand name selection
(1)It should suggest some-thing about the product’s
benefits and qualities
(2)It should be easy to pronounce, recognize, and
remember
(3)The brand name should be distinctive
(4)It should be extendable
(5)The name should translate easily into foreign languages.
(6)It should be capable of registration and legal protection.
The product may be launched as a national
brand (or manufacturer’s brand), as when Sony and Kellogg
sell their output under their own brand names (Sony Bravia
HDTV or Kellogg’s Frosted Flakes).
Or the manufacturer may sell to resellers who give the
product a private brand (also called a store brand or
distributor brand).
Although most manufacturers create their own brand names,
others market licensed brands.
Finally, two companies can join forces and co-brand a
product.
LINE EXTENSION
Extending an existing brand name to new forms, colors, sizes,
ingredients, or flavors of an existing product category.
BRAND EXTENSION
Extending an existing brand name to new product categories.
MULTIBRANDS. Companies often market many different
brands in a given product category. Multibranding offers a
way to establish different features that appeal to different
customer segments, lock up more reseller shelf space, and
capture a larger market share.