Product & Its Analysis

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Product & Its Analysis

  1. 1. Marketing Essentials - A Presentation OnProduct & Consumer Buying Decisions By Pranay Chandra Reddy & Abhilash Manikanta Yadav
  2. 2. C I. Different Levels Of ProductONT II. Classification Of ProductsEN III. Consumer Buying DecisionsTS
  3. 3. Definition Of A Product  A good, idea, method, information, object or service created as a result of a process and serves a need or satisfies a want. It has a combination of tangible and intangible attributes (benefits, features, functions, uses) that a seller offers a buyer for purchase.
  4. 4. I. Different Levels Of Product 
  5. 5. Different Levels Of Product  Three levels of product Core benefit Actual product Augmented product
  6. 6. Different Levels Of Product  Five levels of product Core benefit Generic product Expected product Augmented product Potential product
  7. 7. PLC
  8. 8. Classifications/Types Of Products 
  9. 9. Classifications Of Product  Products are classified into two types Consumer products Industrial products
  10. 10. Consumer Products  Def. of Consumer products : Those are the products and services bought by final consumers for personal consumption.ζ They are sub-classified as ζ Convenience products ζ Shopping products ζ Specialty products ζ Unsought products
  11. 11. Industrial Products  Def. of Industrial products : Those are products purchased for further processing or for use in conducting a business.ζ They are sub-classified on basis of purpose 4r which de product is purchased ζ Materials and parts ζ Capital items ζ Supplies and services
  12. 12. Mark Envi
  13. 13. Consumer Buyer Behavior & Consumer Markets 
  14. 14. Consumer Buyer Behavior  Def. of Consumer buyer behavior : It refers to the buying behavior of final consumers – individuals and households who buy goods and services for personal consumption
  15. 15. Buyer Behavior Model 
  16. 16. Factors InfluencingConsumer Behaviour 
  17. 17. Consumer Buying Decision Process Needrecognition • Can be triggered by internal or external stimuli. Needs become wants, which lead to behavior •Sources of information: Internal Sources, Personal Sources, External Sources •Time, effort and expense dedicated to information search depends on: Degree of risk involved inInformation search the purchase, Amount of expertise with the product category, Actual cost of the search. • Customers evaluate products as bundles of attributes, Customers place different levelsEvaluation of of importance on attributes.alternatives • Purchase intention and the act of buying are distinct concepts, Potential intervening Purchase factors between intention and buying, Key issues in the purchase decision stage. decision Post- • Four possible outcomes in the post-purchase stage purchase behavior

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