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12 12 Presentation Transcript

  • Marketing Management, 12/e A South Asian Perspective 12 Setting Product Strategy
  • Chapter Questions
    • What are the characteristics of products and how can they be classified?
    • How can companies differentiate products?
    • How can a company build and manage its product mix and product lines?
    • How can companies combine products to create strong co-brands or ingredient brands?
    • How can companies use packaging, labeling, warranties, and guarantees as marketing tools?
    12-
  • Product 12- Anything that can be offered to a market to satisfy a want or need.
  • Figure 12.2 Five Product Levels
    • Core benefit
    • Basic product
    • Expected product
    • Augmented product
    • Potential product
    12-
  • Product Classification Schemes
    • Durability
    • Tangibility
    • Use
    12-
  • Durability and Tangibility
    • Nondurable goods
    • Durable goods
    • Services
    12-
  • Consumer Goods Classification
    • Convenience – Staples (Soap), Impulse (Ice-Cream), Emergency (Umbrella)
    • Shopping – Homogenous (Shoes), Heterogeneous (Car, Laptop)
    • Specialty – Photographic Equip, Suits
    • Unsought – Insurance, Umbrella, Reference Books, Encyclopedia
    12-
  • Industrial Goods Classification
    • Raw Materials (Natural Products, Farm Products, Marine Products)
    • Manufactured Materials
    • Parts
    • Capital items
    • Supplies/business services
    12-
  • Product Differentiation
    • Product form (RalispraY
    • Features (VIP)
    • Performance (Fevicol)
    • Conformance (Colgate)
    • Durability (Rajddot)
    • Reliability (Maruti)
    • Style (Fiat)
    • Design (Sony T 100)
    • Delivery (Fed Exp)
    • Installation
    • Customer consulting (Dr. Batra)
    • Maintenance (GM)
    10-
  • The Product Hierarchy
    • Need family – Financial Security
    • Product family – Savings & Income
    • Product class – Financial Products
    • Product line – Life Insurance
    • Product type - ELEP
    • Item – LIC – Jeevan Anand
    12-
  • Product Systems and Mixes
    • Product system
    • Product mix or Product assortment
    • Depth
    • Length
    • Width
    • Consistency
    12-
  • Product Line Analysis
    • SALES & PROFIT ANALYSIS
    • Core product – Basic Digital Camera
    • Staples – High Zoom Attach, Blazeflash, Memory Chip, 1000 Hr. batteries
    • Specialties – Professional Movie Making & Editing Software
    • Convenience items – Photo Scanner, Photo-Printer
    12-
  • Product Line Analysis
    • MARKET PROFILE BASED ANALYSIS
    12-
  • Product Line Analysis– PL LENGTH
    • Line Stretching
      • Down Market Stretch (Why?, Choices?)
        • Jetlite, AirDeccan, Aerrial Gain)
      • Up-Market Stretch (Nirma Super)
      • Two-Way Stretch (Hero Honda)
    • Line Filling
    • (Loss of Sale, Hole Plugging, Excess Capacity, Line Leader)
    • Line Modernization, Featuring, Pruning ( AMD, HCL, Intel-Pentium)
    • (Loss of Sale, Hole Plugging, Excess Capacity, Line Leader)
    12-
  • Product-Mix Pricing
    • Product-line pricing (Peter England – 3 Prices of Shirts i.e. 500, 1000, 1500)
    • Optional-feature pricing (SX4 – Leather)
    • Captive-product pricing (Gillet Mach – III)
    • Two-part pricing (Shanku’s Water Park)
    • By-product pricing (Tata)
    • Product-bundling pricing (Cox & Kings)
    12-
  • Co-Branding
    • Advantage of two Known Images
    • Disadvantage of Alignment
    • Needs right kind of Balance of Brand Equity, Values, Capabilities and Goals
    • E.g. – Jet-ICICI, HP-ICICI
    • Ingredient Branding
      • - IBM-Intel, HP-AMD, Sony-Zeiss
    12-
  • Packaging: The 5 th P 12- All the activities of designing and producing the container for a product.
  • Packaging has been influenced by:
    • Self-service
    • Consumer affluence
    • Company and brand image
    • Innovation opportunity
    12-
  • Functions of Labels
    • Identifies
    • Grades
    • Describes
    • Promotes
    • Instrument to Conveys Warranties
    12-