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Marketing Management, 12/eA South Asian Perspective
12Setting Product Strategy
Kotler Koshy
Keller Jha
12-2
Chapter Questions What are the characteristics of products and how
can they be classified? How can companies differentiate products? How can a company build and manage its
product mix and product lines? How can companies combine products to create
strong co-brands or ingredient brands? How can companies use packaging, labeling,
warranties, and guarantees as marketing tools?
12-3
Product
Anything that can be offered to a market to satisfy a want or need.
12-4
Figure 12.2 Five Product Levels
Core benefit Basic product Expected product Augmented product Potential product
12-5
Product Classification Schemes
Durability Tangibility Use
12-6
Durability and Tangibility
Nondurable goods Durable goods Services
12-7
Consumer Goods Classification
Convenience Shopping Specialty Unsought
12-8
Industrial Goods Classification
Materials and parts Capital items Supplies/business services
12-9
Product Differentiation
Product form Features Performance Conformance Durability Reliability Reparability
Style Design Ordering ease Delivery Installation Customer training Customer consulting Maintenance
12-10
The Product Hierarchy
Need family Product family Product class Product line Product type Item
12-11
Product Systems and Mixes
Product system Product mix Product assortment Depth Length Width Consistency
12-12
Product Line Analysis
Core product Staples Specialties Convenience items
12-13
Line Stretching
Down Market Stretch Up-Market Stretch Two-Way Stretch
12-14
Product-Mix Pricing
Product-line pricing Optional-feature pricing Captive-product pricing Two-part pricing By-product pricing Product-bundling pricing
12-15
Packaging: The 5th P
All the activities of designing and producingthe container for a product.
12-16
Packaging has been influenced by:
Self-service Consumer affluence Company and brand image Innovation opportunity
12-17
Functions of Labels
Identifies Grades Describes Promotes
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