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Setting Product Strategy
Marketing Management, 13th ed
12
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Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 12-2
What is a Product?
A product is anything that can be
offered to a market to satisfy a want or
need, including physical goods,
services, experiences, events, persons,
places, properties, organizations,
information, and ideas.
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Figure 12.1 Components of the
Market Offering
Attractiveness
of the market
offering
Value-based prices
Product
features
and quality
Services
mix and
quality
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Figure 12.2 Five Product Levels
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Product Classification Schemes
Durability
Use
Tangibility
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Durability and Tangibility
Nondurable
goods
Services
Durable
goods
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Consumer Goods Classification
Convenience
Unsought
Shopping
Specialty
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Product Differentiation
• Product form
• Features
• Customization
• Performance• Conformance
• Durability
• Reliability• Repairability
• Style
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Service Differentiation
• Ordering ease
• Delivery
• Installation
• Customer training
• Customer consulting
• Maintenance and
repair • Returns
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Design Differentiation
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Maintenance and Repair
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Product Systems and Mixes
• Product system
• Product mix
• Product assortment• Depth
• Length
• Width
• Consistency
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Product-Mix Width and Product-Line Length for Proctor&
Gamble Products
PRODUCT-
LINELENGTH
Product-Mix Width
Detergents Toothpaste DisposableBar Soap
Diapers Paper Tissue
Ivory Snow(1930)
Dreft (1933)
Tide(1946)
Cheer (1950)
Gleem (1952)
Crest (1955)
Ivory(1879)
Kirk’s (1885)
Lava(1893)
Camay(1926)
Pampers(1961)
Luvs(1976)
Charmin(1928)
Puffs(1960)
Banner (1982)
Summit(1992)
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Line Stretching
Down-Market StretchDown-Market Stretch
Up-Market StretchUp-Market Stretch
Two-Way StretchTwo-Way Stretch
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Two-Way Product-Line Stretch:
Marriott Hotels
QualityEconomy Superior Standard Good
P r
i c e
P r
i c e
High
Aboveaverage
Average
Low Fairfield Inn
(Vacationers)
Courtyard(Salespeople)
Marriott(Middle
managers)
MarriottMarquis
(Topexecutives)
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Product Line Pricing
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What is the Fifth P?
Packaging, sometimes called the
fifth P, is all the activities of
designing and producing the
container for a product.
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Factors Contributing to the
Emphasis on Packaging
Self-serviceSelf-service
Consumer affluenceConsumer affluence
Company/brand imageCompany/brand image
Innovation opportunityInnovation opportunity
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Packaging Objectives
• Identify the brand
• Convey descriptive and persuasive
information
• Facilitate product transportation and
protection
• Assist at-home storage• Aid product consumption
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Functions of Labels
Identifies
Grades
Describes
Promotes
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