75007 Product Management
Upcoming SlideShare
Loading in...5
×

Like this? Share it with your network

Share
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
    Be the first to like this
No Downloads

Views

Total Views
1,959
On Slideshare
1,959
From Embeds
0
Number of Embeds
0

Actions

Shares
Downloads
31
Comments
0
Likes
0

Embeds 0

No embeds

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide

Transcript

  • 1. Amity Business School Marketing & Sales Programme, IInd Semester Product & Brand Management Varsha Khattri
  • 2. What is a Product? A PRODUCT is anything that can be offered to a market for attention, acquisition, use, or consumption and that might satisfy a want or need.
  • 3.
    • Includes:
      • Physical Objects
      • Services
      • Events
      • Persons
      • Places
      • Organizations
      • Ideas
      • Combinations of the above
  • 4. What is a Service?
    • A SERVICE is a form of product that consist of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything.
  • 5.
    • Examples include:
      • Banking
      • Hotels
      • Tax preparation
      • Home repair services
  • 6. PRODUCT LEVELS Core Benefit Augmented Potential Expected Basic
  • 7. Product Levels
    • Core Benefit
    • Basic Product
    • Expected Product
    Fundamental service or benefit that the customer is really buying Containing only those attributes or characteristics absolutely necessary for its functioning but with no distinguishing features A set of attributes & conditions buyers normally expect when they purchase the product
  • 8. Exceeds customer expectations
    • Augmented Product
    • Potential Product
    Encompasses all possible augmentations & transformations the product might undergo in future
  • 9. Product Hierarchy Need Family Product Family Product Class Product Line Product Type Brand Item
  • 10. 7 Levels of Product Hierarchy
    • Product Need — to satisfy a need
    • Product Family — all the product classes that can satisfy a core need with reasonable effectiveness
    • Product Class — a family of products having similar function
    • Product Line — a group of products with closely related functions, are sold to the same customer groups, are marketed through the same channels, or fall within given price ranges
  • 11.
    • Product Type — products within a line having similar form
    • Brand — a name representing a product or line
    • Item (Stock Keeping Unit or Product Variant) — a unit within a brand or product line distinguishable by size, price, appearance or some other attribute