06. product strategy
Upcoming SlideShare
Loading in...5
×
 

06. product strategy

on

  • 726 views

Product strategy by Tharaka Dias

Product strategy by Tharaka Dias

Statistics

Views

Total Views
726
Views on SlideShare
726
Embed Views
0

Actions

Likes
0
Downloads
91
Comments
0

0 Embeds 0

No embeds

Accessibility

Categories

Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    06. product strategy 06. product strategy Presentation Transcript

    • THARAKA DIAS MBA(USA), BBA(USA), Dip in Mgt, ACIM(UK),FAEA(Dip in AEA-UK), FinstSMM(UK), CPM(Asia), MSLIM
    • What are the characteristics of productsand how do marketers classify products?How can companies differentiateproducts?How can a company build and manage itsproduct mix and product lines? AOT - www.tharakadias.com 2
    • How can companies combine products tocreate strong co-brands or ingredient brands?How can companies use packaging, labeling,warranties, and guarantees as marketingtools? AOT - www.tharakadias.com 3
    • AOT - www.tharakadias.com 4
    • A product is anything that can be offered to a market to satisfy a want or need, includingphysical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas. AOT - www.tharakadias.com 5
    • YouTube - McDonalds FUNNY AD.mp4 3455.wmvAOT - www.tharakadias.com 6
    • Value-based prices Attractiveness of the market offeringProduct Servicesfeatures mix andand quality quality AOT - www.tharakadias.com 7
    • AOT - www.tharakadias.com 8
    • Core product • Transport • Product features, design, quality,Basic product brand and packaging Expected • Level of performance, comforts, product reliability, and thrill, status, prestigeAugmented • After sales support, customer service, product delivery, credit etc. Potential • Better fuel economy, enhanced product design etc. AOT - www.tharakadias.com 9
    • DurabilityTangibility Use AOT - www.tharakadias.com 10
    • Nondurable goodsDurable Services goods AOT - www.tharakadias.com 11
    • Convenience Shopping Specialty Unsought AOT - www.tharakadias.com 12
    • Convenience products- relatively inexpensive and frequently purchased1. Staple goods- bread, milk, toothpaste2. Impulse goods – chocolates, perfumes, mags3. Emergency products – umbrella, medicine, battery Shopping products – less frequent purchased products ( Appliances, bicycle, cameras, furniture, clothing, airline etc) Specialty products - products with unique characteristics or brand identification ( Cars, watches, designer clothes, medical advisory, legal) Unsought products – normally does not plan to buy ( catalogues, insurance, encyclopedia, blood donation etc) AOT - www.tharakadias.com 13
    • Materials and parts Supplies/Capital items business services AOT - www.tharakadias.com 14
    • Product form Features Customization Performance Conformance Durability Reliability Repairability StyleAOT - www.tharakadias.com
    • Ordering ease Delivery Installation Customer training Customer consulting Maintenance and repair ReturnsAOT - www.tharakadias.com
    • AOT - www.tharakadias.com 17
    • AOT - www.tharakadias.com 18
    • Product system Product mix Product assortment Depth Length Width ConsistencyAOT - www.tharakadias.com
    • • Width of Product Mix Product Product Product Line 1 Line 2 Line 3LAMPS TABLES CHAIRS•Table •Kitchen •Dining Room•Ceiling •Dining Room •Living Room•Track •End •Bedroom•Desk •Coffee •Outdoor •Outdoor •Desk •Conference •Computer AOT - www.tharakadias.com 20
    • AOT - www.tharakadias.com 21
    • Down-Market Stretch Up-Market Stretch Two-Way StretchAOT - www.tharakadias.com
    • AOT - www.tharakadias.com 23
    • Pruning weak brands can strengthen the remaining brands in the lineAOT - www.tharakadias.com
    • Product-line pricingOptional-feature pricingCaptive-product pricingTwo-part pricingBy-product pricingProduct-bundling pricing AOT - www.tharakadias.com 25
    • AOT - www.tharakadias.com 26
    • AOT - www.tharakadias.com 27
    • AOT - www.tharakadias.com 28
    • Packaging, sometimes called the fifthP, is all the activities of designing andproducing the container for a product. AOT - www.tharakadias.com 29
    • Self-service Consumer affluence Company/brand image Innovation opportunityAOT - www.tharakadias.com 30
    • AOT - www.tharakadias.com 31
    • Identify the brandConvey descriptive and persuasiveinformationFacilitate product transportation andprotectionAssist at-home storageAid product consumption AOT - www.tharakadias.com 32
    • Identifies Grades Describes PromotesAOT - www.tharakadias.com 33
    • AOT - www.tharakadias.com 34
    • AOT - www.tharakadias.com 35
    • Awareness Interest Evaluation Trial AdoptionAOT - www.tharakadias.com 36
    • Adoption Process • Product Adopter Categories 2.5% Innovators AOT - www.tharakadias.com 37
    • Adoption Process • Product Adopter Categories 2.5% Innovators 13.5% Early Adopters AOT - www.tharakadias.com 38
    • Adoption Process • Product Adopter Categories 2.5% Innovators 13.5% Early Adopters 34% Early Majority AOT - www.tharakadias.com 39
    • Adoption Process • Product Adopter Categories 2.5% Innovators 13.5% Early Adopters34% Late Majority 34% Early Majority AOT - www.tharakadias.com 40
    • Adoption Process • Product Adopter Categories 2.5% Innovators 16% Laggards 13.5% Early Adopters34% Late Majority 34% Early Majority AOT - www.tharakadias.com 41
    • 1 2 3Idea generation Idea screening Concept testing 4 5 Business Analysis Product Development 6 7 Test marketing Commercialisation AOT - www.tharakadias.com 42
    • AOT - www.tharakadias.com 43
    • Thank youAOT - www.tharakadias.com 44