What is productWhat is product Need satisfactory entity is called product e.g.. Need satisfactory entity is called product e.g.. Book, TV, program on TV, news paper. Book, TV, program on TV, news paper. A product is not mere object .a product is not A product is not mere object .a product is not more assemblage of matter. It means something more assemblage of matter. It means something more than physical commodity. more than physical commodity. The commodity as such is but one component The commodity as such is but one component of product. personality. It’s various features and of product. personality. It’s various features and functions are-functions are-

What is productWhat is product

The brand name ,the package ,labeling ,the The brand name ,the package ,labeling ,the guarantees ,the price label the manufactures guarantees ,the price label the manufactures name. All go into personality of product.name. All go into personality of product.

Products are almost always combination of Products are almost always combination of tangible and intangible.tangible and intangible.

Product is total package of benefit for the Product is total package of benefit for the customers services when buys it.customers services when buys it.

Components of product personalityComponents of product personality

The core or basic constituentsThe core or basic constituents The associated featuresThe associated features The brand name and logoThe brand name and logo The package and labelThe package and label Price and terms of sales Price and terms of sales

The channel used, the positioning, Promotion The channel used, the positioning, Promotion and corporate image Contribution to product and corporate image Contribution to product personality .personality .

Core or basic constituentCore or basic constituent

Core or basic constituent of product is the first Core or basic constituent of product is the first component in it’s total personality .e.g. Mysore component in it’s total personality .e.g. Mysore Sandal Soap. The fragrance of sandal oil, the oval Sandal Soap. The fragrance of sandal oil, the oval shape, the sandal color, the brand name, price, the shape, the sandal color, the brand name, price, the positioning as luxury soap, everything had gone into positioning as luxury soap, everything had gone into the product personality built up. The basic product the product personality built up. The basic product constituents has to be good for the total product constituents has to be good for the total product personality to be effective.personality to be effective.

Associated FeaturesAssociated Features

A product contains several associated features A product contains several associated features besides the core constituents . e.g. Mysore besides the core constituents . e.g. Mysore Sandal soap. The fragrance of Sandal oil ,Oval Sandal soap. The fragrance of Sandal oil ,Oval shape, the sandal color etc.shape, the sandal color etc.

The additional features contributes to total The additional features contributes to total personality of product .Marketers compete by personality of product .Marketers compete by providing more and more specialized product providing more and more specialized product features and functions to the basic products.features and functions to the basic products.

Brand NameBrand Name

Brand name is defined as name ,terms, symbol ,design or a Brand name is defined as name ,terms, symbol ,design or a combination of them which is intended to identify the goods and combination of them which is intended to identify the goods and services of one seller and to differentiate them from these of services of one seller and to differentiate them from these of competitors. competitors.

A trademark is a product that has been given legal protection A trademark is a product that has been given legal protection thus ensuring its use exclusively by one seller. Trademark is thus ensuring its use exclusively by one seller. Trademark is legal term brand name is marketing term. legal term brand name is marketing term.

In marketing brand name is a major selling tool and one of the In marketing brand name is a major selling tool and one of the most important component .e.g. Colgate, Close up, Crocin, most important component .e.g. Colgate, Close up, Crocin, Bisleri. Bisleri.

The brand image developed through advertising and other The brand image developed through advertising and other

promotional measurespromotional measures..

Package and LabelPackage and Label Package is powerful promotional tool.Package is powerful promotional tool. 1) Protective 2) Aesthetic and sales appeal1) Protective 2) Aesthetic and sales appeal Package material,colour,shape,size of Package material,colour,shape,size of

package,finish,labelling on it.package,finish,labelling on it. Label-Part and parcel of packageLabel-Part and parcel of package Provide written information-about product. Labeling Provide written information-about product. Labeling

helps the buyer to understand the nature of product helps the buyer to understand the nature of product composition and it’s performance.composition and it’s performance.

Types-a) Grade Label- Product classified on std. of Types-a) Grade Label- Product classified on std. of qualityquality

b) Descriptive Label-Details about attribute b) Descriptive Label-Details about attribute and qualities. and qualities.

Product classificationProduct classification

1.Durability and tangibility.1.Durability and tangibility.

2.consumers goods2.consumers goods

3.Industrial goods.3.Industrial goods.

1.Durability and tangibility1.Durability and tangibility

a) Nondurable goods-are tangible goods a) Nondurable goods-are tangible goods consumed in one or a few uses .e.g. Beer, consumed in one or a few uses .e.g. Beer, Soap. These are consumed quickly and Soap. These are consumed quickly and purchased frequenly.The appropriate strategy purchased frequenly.The appropriate strategy is to make them available in many is to make them available in many locations. .advertise heavily to induce trial and locations. .advertise heavily to induce trial and build performance. build performance.

1.Durability and tangibility1.Durability and tangibility

b) Durable goods- are tangible goods that normally b) Durable goods- are tangible goods that normally service many uses: refrigerators, machine service many uses: refrigerators, machine tools,clothing.e.g.Durable product normally require tools,clothing.e.g.Durable product normally require more personal selling and services, command higher more personal selling and services, command higher margin and require more sells guaranteesmargin and require more sells guarantees

c) Services-are intangible ,inseparable ,variable and c) Services-are intangible ,inseparable ,variable and perishable products. As a result they normally require perishable products. As a result they normally require more quality control ,supplies credibility and more quality control ,supplies credibility and adaptibility.e.g. haircuts, legal advice and appliance adaptibility.e.g. haircuts, legal advice and appliance repairs.repairs.

2.Consumers Goods2.Consumers Goods

1)Convience Goods-1)Convience Goods- Consumer purchase frequently Consumer purchase frequently immediately and with a minimum of effort. e.g. immediately and with a minimum of effort. e.g. Tobacco products ,soaps and newspapers.Tobacco products ,soaps and newspapers.

a) Staples goods: Goods consumers purchase on a a) Staples goods: Goods consumers purchase on a regular basis.e.g.toothpaste,toothpowder,hair oil.regular basis.e.g.toothpaste,toothpowder,hair oil.

b) Impulse goods: Goods core purchased without any b) Impulse goods: Goods core purchased without any planning or search effect.e.g. Candy bars, magazines.planning or search effect.e.g. Candy bars, magazines.

c) Emergency goods: Purchased when need is c) Emergency goods: Purchased when need is urgent.e.g. Umbrella,medicine.urgent.e.g. Umbrella,medicine.

2.Consumers Goods2.Consumers Goods

2)2) Shopping goods-Shopping goods- Selection and purchase Selection and purchase characteristically compare on basis of characteristically compare on basis of suitability ,quality, price and style.e.g. furniture, suitability ,quality, price and style.e.g. furniture, clothing, used cars, major appliances.clothing, used cars, major appliances.

a) Homogeneous shopping -goods are similar in a) Homogeneous shopping -goods are similar in quality but different enough in price to justify quality but different enough in price to justify shopping comparisons.shopping comparisons.

b) Heterogeneous shopping goods –differ in product b) Heterogeneous shopping goods –differ in product feature and service that may be important than price. feature and service that may be important than price. These require well trained sales people to inform and These require well trained sales people to inform and advise customers.advise customers.

2.Consumers Goods2.Consumers Goods

3) Specialty goods-3) Specialty goods- have unique characteristics have unique characteristics or brands identification for which a sufficient or brands identification for which a sufficient numbers of buyers are willing to make a numbers of buyers are willing to make a special purchasing effect e.g. Cars, men's suits. special purchasing effect e.g. Cars, men's suits. A Mercedes is a specially goods because A Mercedes is a specially goods because interested buyers will travel for to buy one. interested buyers will travel for to buy one. Here no comparisons. dealer location not Here no comparisons. dealer location not important.important.

2.Consumers Goods2.Consumers Goods

4) Unsought Goods-4) Unsought Goods- Are those the consumer dose Are those the consumer dose not know about or dose not normally think of buying not know about or dose not normally think of buying e.g. Life insurance, encyclopedia.e.g. Life insurance, encyclopedia.

3.Industrial Goods3.Industrial Goods

A) Material and parts-A) Material and parts- One goods that enter the One goods that enter the manufacturer’s product completely.manufacturer’s product completely.

1) Raw material: 1) Raw material:

a) Farm product e.g. Wheat,cotton,fruits,vegetablesa) Farm product e.g. Wheat,cotton,fruits,vegetables

b) Natural product: e.g. fish, crude petroleumb) Natural product: e.g. fish, crude petroleum

2) Manufactured material and parts-2) Manufactured material and parts- a) Component material e.g. iron, wiresa) Component material e.g. iron, wires

b) Components parts e.g. small motors, tiresb) Components parts e.g. small motors, tires

3.Industrial Goods3.Industrial Goods

B) Capital terms: are long lasting goods that B) Capital terms: are long lasting goods that facilitate developing or managing the finished facilitate developing or managing the finished products.products.

1) Installation- consist of building and heavy 1) Installation- consist of building and heavy equipments e.g. generator ,drill presses, equipments e.g. generator ,drill presses, mainframe computers,elevators.Installation are mainframe computers,elevators.Installation are major purchase. Advertisement is less major purchase. Advertisement is less important than personal selling.important than personal selling.

3.Industrial Goods3.Industrial Goods

2) Equipments- comprises portable factory 2) Equipments- comprises portable factory equipments and tools, hand tools, lift trucks equipments and tools, hand tools, lift trucks and office equipments (personal computer, and office equipments (personal computer, desks) These types of equipments do not desks) These types of equipments do not become part of a finished product. become part of a finished product. quality,features,prices,and services are major quality,features,prices,and services are major considerations. considerations.

3.Industrial Goods.3.Industrial Goods.

3.Supplies and business services -3.Supplies and business services - These are short term goods and services that These are short term goods and services that

facilitate developing or managing finished products.facilitate developing or managing finished products. a) Supplies-a) Supplies- 1) Maintaince and repair items (paints,nails,brooms) 1) Maintaince and repair items (paints,nails,brooms) 2) Operating supplies e.g. lubricants,coal,writing 2) Operating supplies e.g. lubricants,coal,writing

paperpaper b) Business services-Include maintaince and repair b) Business services-Include maintaince and repair

services (window cleaning, copier repair) and services (window cleaning, copier repair) and business advisory services (legal ,management business advisory services (legal ,management consulting,advertising)consulting,advertising)