Product

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Product

  1. 1. PRODUCT Aravind LEADCollege of Management
  2. 2. Definision• Product is a need satisfying offering of a firm .” Anything that can be offered to market for attention , acquisition , use , or consumption that might satisfy a want or need , include physical objects, services, persons, organisation and idea is called product “• Product makes to satisfy one or more physiological and / or psychological need of the market at a given moment .
  3. 3. • A PRODUCT IS MORE THAN A PHYSICSAL ENTITITY ; IT HAS A PERSONALITY
  4. 4. Way of defining a product• Product variety• Quality• Design• Features• Brand name• Packaging• Size• Services• Warranties
  5. 5. Product Differentiation• Form - Size, shape, etc• Features• Performance quality• Conformance quality• Durability• Reliability• Reparability• Style
  6. 6. Product attains different level• GENERIC PRODUCT• BRANDED PRODUCT• DIFFERENTIATED PRODUCT• CUSTOMISED PRODUCT• AUGMENTED PRODUCT• POTENTIAL PRODUCT
  7. 7. 1. THE GENERIC PRODUCT Unbranded product Does not have identity through a name Not linked to any one maker or ownerEg :- Rice, bread, atta
  8. 8. 2. BRANDED PRODUCTHave identity through a nameHave packing
  9. 9. 3. DIFFERENTIATED PRODUCT Enjoys distinction from other similar products/brands in the market . Endorse the brand with some special attribute/qualities and claims uniqueness Differentiation may be tangible Maggi, detol soap(PIC)
  10. 10. 4. CUSTOMISED PRODUCT A product that is adapted to the requirements of the individual customer Eg :- Caller tune Bufor car :- Kula-Lumpur produces only 300 of these cars an year . One has to book and wait .Price stars from $ 250,000 , 900 man-hours
  11. 11. 5. AUGMENTED PRODUCTS Improved with value additionGoes beyond the expectation the customerExtra features
  12. 12. 6. POTENTIAL PRODUCT Tomorrow’s product Eg : Resent Auto expo , Honda motor company displayed the humanoid robot called ASIMO ,it will replace the chauffeur in Honda cars .
  13. 13. Components of product personalityA. CORE PRODUCTThe Core product = Basic product (no other associated features) Other components are superimposed on this basic product to constitute the total personality of the product
  14. 14. NO FIRM CAN BUILT A GOOD PRODUCTPERSONALIY WHEN THE BASIC CONSTITUENT OF THE PRODUCT IS SUB-STANDARD
  15. 15. LessonTHE BASIC PRODUCT CONSTITUENT HAS TO BE GOOD , IF THE TOTAL PRODUCT PERSONALITY HAS TO BE EFFECTIVE .
  16. 16. Components of product personality ,Ctn…B. ASSOSIATED FEATUREBasic feature = SoapAdditional features = Size ,shape, colour , smellEvery additional feature is intended to enhance the personality of the product .
  17. 17. Product features Vs. Product benefit Hush puppies (Bata)Product features Customer benefit• Cow leather uppers • Suppleness and soft comfort• Form padding on uppers • Quilted and caressed comfort• Leather sock lining • Natural feel and breathable comfort• Latex foam • Shock absorbing comfort• Polyurethane sole • Light weight comfort
  18. 18. C. Brand Name Name , term , symbol ,design , or a combination of themHelps to identify the goods and services of one seller from another .
  19. 19. D. Logo It supports the brand effectively It is a brand mark / symbol Communicate easily It is Mnemonic ( Memory aid)
  20. 20. E. Packaging• For consumer product• Giving protection to the product• Giving information about the product• Adding aesthetics and sales appelLabel :- Provides written information about the product Helps to understand the nature of the product , distinctive features , its composition
  21. 21. PRODUCT MIX
  22. 22. Product mixWhich is larger entity , denotes the complete set of all products offered for sale by a company
  23. 23. Product line A group of closely related product constitutes a product line . The product mix of a company is composed of all product line Product Mix Oral care Hair care Toilet product Line 1 Line 2 Line 3
  24. 24. WidthNumber of product line it carries Width Orel care Health care Beauty care Life styleProduct A Product A Product A Product AProduct B Product B Product B Product B Product C Product C Product C Product D Product D Product E Product F
  25. 25. LengthLength of product line is decided by the number of different product/brands in the line , in terms of variants ,shades, models ,pack size ,etc Personal care Product A Product B Length Product C
  26. 26. DepthThe total number of items under each brand in the line , in terms of variants, shades, models, pack size etc 25gm Pink 50gm 75gm White Lux 25gm Black 50gm 75gm
  27. 27. • Line strechingThe aim is enter a new price slot and a new market segment, which is not covered b existing offers of the firm (eg :philips-Power house and Powerplay )1.Up ward stretching – high price2. Downward stretching - price less ( Hul ,surf is in high price slot Rs40/kg ,Introduce Sunlight Rs.26/kg and wheel low price Rs.10/kg)
  28. 28. Thank you

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