Scribd Logo
Upload

Welcome to Scribd!

  • What Is A Product?

    Uploaded by

    Raj Gupta
    11 views11 pages
    A product is anything offered to a market that might satisfy a want or need, including physical objects, services, events, and ideas. A service specifically does not result in ownership and is intangible, like banking, hotels, or tax preparation. Products and services can exist on a spectrum from being a tangible good to an intangible service. Other aspects of a product include its core benefit, features, design, packaging, brand name, quality, and after-sale service. Products are also classified as consumer, industrial, or other marketable entities. Individual product decisions consider attributes, branding, labeling, and packaging.

    Original Description:

    Original Title

    Prod.classi

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PPT, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    A product is anything offered to a market that might satisfy a want or need, including physical objects, services, events, and ideas. A service specifically does not result in ownership and is intangible, like banking, hotels, or tax preparation. Products and services can exist on a spectrum from being a tangible good to an intangible service. Other aspects of a product include its core benefit, features, design, packaging, brand name, quality, and after-sale service. Products are also classified as consumer, industrial, or other marketable entities. Individual product decisions consider attributes, branding, labeling, and packaging.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as ppt, pdf, or txt
    11 views11 pages

    What Is A Product?

    Uploaded by

    Raj Gupta
    A product is anything offered to a market that might satisfy a want or need, including physical objects, services, events, and ideas. A service specifically does not result in ownership and is intangible, like banking, hotels, or tax preparation. Products and services can exist on a spectrum from being a tangible good to an intangible service. Other aspects of a product include its core benefit, features, design, packaging, brand name, quality, and after-sale service. Products are also classified as consumer, industrial, or other marketable entities. Individual product decisions consider attributes, branding, labeling, and packaging.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as ppt, pdf, or txt
    of 11

    What is a Product?

    A Product is anything that can be offered to a market for attention, acquisition, use, or consumption and that might satisfy a want or need. Includes:

    Physical Objects Services Events Persons Places Organizations Ideas Combinations of the above

    What is a Service?
    A Service is a form of product that consist of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything. Examples include:

    Banking Hotels Tax Preparation Home Repair Services


    2

    Products, Services, and Experiences


    Tangible Good Pure With Tangible Accompanying Good Services
    Hybrid Offer

    Service With Accompanying Minor Goods

    Pure Service

    Soap

    Auto With Airline Trip Accompanying Restaurant With Doctors Repair Accompanying Exam Services Snacks

    Levels of Product
    Augmented Product Installation Packaging Delivery & Credit Brand Name Quality Level

    Core Benefit or Service

    Features

    Design

    AfterSale Service

    Warranty Actual Product Core Product


    4

    Product Classifications Consumer Products


    Convenience Products
    Buy frequently & immediately

    Shopping Products
    Buy less frequently

    Low priced Mass advertising Many purchase locations i.e Candy, newspapers

    Higher price Fewer purchase locations Comparison shop i.e Clothing, cars, appliances

    Specialty Products
    Special purchase efforts

    Unsought Products
    New innovations

    High price Unique characteristics Brand identification Few purchase locations i.e Lamborghini, Rolex

    Products consumers dont want to think about these products Require much advertising & personal selling i.e Life insurance, blood donation
    5

    Product Classifications Industrial Products


    Materials and Parts Capital Items Supplies and Services
    6

    Product Classifications Other Marketable Entities


    Activities undertaken to create, maintain, or change the attitudes and behavior toward the following:

    Organizations - Profit (businesses) and nonprofit (schools and churches). Persons Politicians, entertainers, sports figures, doctors and lawyers. Places - Business sites and tourism. Ideas (social ideas marketing) public health campaigns, environmental campaigns, and others such as family planning, or human rights. 7
    Place Marketing:
    Va cation spots are the subject of most place marketing
    Cli k orp ress space bar to r t rn. c eu

    Individual Product Decisions


    Product Attributes Branding Labeling

    Packaging
    Product Support Services
    8

    Product Attributes
    Developing a Product or Service Involves Defining the Benefits that it Will Offer Such as:
    Product Quality
    Product Features Product Style & Design Ability of a Product to Perform Its Functions; Includes Level & Consistency Help to Differentiate the Product from Those of the Competition Process of Designing a Products Style & Function
    9

    Product Line Decisions


    Product Line Length
    Number of Items in the Product Line

    Stretching
    Lengthen beyond current range

    Filling
    Lengthen within current range

    Downward Two-Way Upward


    10

    Product Mix Decisions


    Width - number of different product lines

    Consistency

    Length - total number of items in product lines Depth - number of versions of each product

    Product Mix all the product lines & items offered

    11

    You might also like