Kotler Chapter Assignment - Chapter 12   Setting Product Strategy
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Kotler Chapter Assignment - Chapter 12 Setting Product Strategy

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Marketing Management Kotler Chapter Assignment

Marketing Management Kotler Chapter Assignment

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  • 1. http://patricklimreyes.blogspot.com / Setting Product Strategy Patrick L. Reyes October 7, 2013
  • 2. http://patricklimreyes.blogspot.com / A Marketer… 1. Addresses Product Levels 2. Classifies Products 3. Differentiates Products and/or Services 4. Identifies Levels of Product Hierarchy 5. Analyzes Product Lines, Product Systems and Mix 6. Delivers with Packaging, Labeling, Warranties, and Guarantees At the heart of a great brand is a great product.
  • 3. http://patricklimreyes.blogspot.com / Product - 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. It’s the Product Stu-dent!
  • 4. http://patricklimreyes.blogspot.com / Chapter focus: the Product Components of Market Offering Attractiveness of the market offering Value-based Prices Product features and quality Services mix and quality
  • 5. http://patricklimreyes.blogspot.com / 1. Core Benefit 2. Basic Product 3. Expected Product 4. Augmented Product 5. Potential Product 1. Address 5 Product Levels of Customer Value
  • 6. http://patricklimreyes.blogspot.com / 1. Durability and Tangibility 1. Durable – tangible, many use 2. Non-Durable – tangible, one or a few use 3. Services – intangible, variable, perishable 2a. How Marketers Classify Products
  • 7. http://patricklimreyes.blogspot.com / 2. Use – Consumer or Industrial 1. Consumer – habits 1. Convenience – frequent, minimal effort 2. Shopping – compares quality, price, style 3. Specialty – unique or brand identification 4. Unsought – not normally think of buying 2b. How Marketers Classify Products
  • 8. http://patricklimreyes.blogspot.com / 2. Use 2. Industrial 1. Materials and Parts 1. Raw – processed further 1. Farm – produced 2. Natural – limited supply 2. Manufactured – 1. Component Materials – fabricated further 2. Component Parts – used as is 2c. How Marketers Classify Products
  • 9. http://patricklimreyes.blogspot.com / 2. Industrial 2. Capital Items 1. Installation – major $ 2. Equipment 3. Supplies and Business Services 1. Maintenance and Repair 2. Operating 3. Business Services 2c. How Marketers Classify Products
  • 10. http://patricklimreyes.blogspot.com / 3a. Differentiating Products (Some) Product Differentiators 1. Form – size, shape, physical 2. Features – specifications 3. Customization 4. Performance Quality 5. Conformance Quality - consistency 6. Style
  • 11. http://patricklimreyes.blogspot.com / Services Differentiators 1. Ordering ease 2. Delivery 3. Installation - required 4. Customer Training 5. Customer Consulting 6. Maintenance and Repair 7. Return Policy 3b. Differentiating Services
  • 12. http://patricklimreyes.blogspot.com / Need family Product family Product class Product line Product type Item 1. Need family – core need 2. Product family – all product classes, satisfy core need 3. Product class – group of products within product family 4. Product line – group of products within product class 5. Product type – group of items within product line 6. Item – distinct unit 4. Identify 6 Levels of Product Hierarchy Financial Instruments Life Insurance Term Life Insurance
  • 13. http://patricklimreyes.blogspot.com / Product System – diverse but related items (product & accessories) Product Mix – assortment, all products 1. Width – how many product lines 2. Length – total items in the mix 3. Depth – how many variants in each product line 4. Consistency – how closely related the product lines are 5a. Analyze Product Lines, Product Systems and Mixes
  • 14. http://patricklimreyes.blogspot.com / 5b. The Product Systems and Mixes
  • 15. http://patricklimreyes.blogspot.com / Product Line Analysis – basic platform 1. Sales and Profits 2. Market Profile – versus competitors 3. Product Line Stretching 5c. Analyzing Product Lines, Product Systems and Mixes
  • 16. http://patricklimreyes.blogspot.com / 5d. Sales & Profits Analysis
  • 17. http://patricklimreyes.blogspot.com / Company X 5e. Market Profile
  • 18. http://patricklimreyes.blogspot.com / 5f. Line Stretching
  • 19. http://patricklimreyes.blogspot.com / Packaging – 5th P, advertising tool, instant recognition, identity Labeling – provide info, required by law Warranties and Guarantees – provide peace of mind to some, perception of performance and dependability “Food must look good, because even if it doesn’t taste good, it’s too late” 6. Packaging, Labeling, Warranties, Guarantees
  • 20. http://patricklimreyes.blogspot.com / Explore and exploit… 1. Product Levels 2. Product Classification 3. Products and/or Services Differentiation 4. 6 Levels of Product Hierarchy 5. Product Systems and Mix 6. Perception with Packaging, Labeling, Warranties, an d Guarantees At the heart of a great brand is a great product.
  • 21. http://patricklimreyes.blogspot.com / Setting Product Strategy Patrick L. Reyes October 7, 2013