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Product Mix
What is a Product?
A product is 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.
Elements of Product Strategy
Components of the
Market Offering
Five Product Levels
Product Classification Schemes
Durability
Tangibility
Use
Durability and Tangibility
Nondurable goods
Durable goods
Services
Consumer Goods Classification
Convenience
Shopping
Specialty
Unsought
Industrial Goods Classification
• Materials and parts
• Capital items
• Supplies/business services
Product Differentiation
• Product form
• Features
• Customization
• Performance
• Conformance
• Durability
• Reliability
• Repairability
• Style
Service Differentiation
• Ordering ease
• Delivery
• Installation
• Customer training
• Customer consulting
• Maintenance and repair
• Returns
Design
Product Map for a Paper-Product Line
Line Stretching
Down-Market Stretch
Up-Market Stretch
Two-Way Stretch
Product-Mix Pricing
• Product-line pricing
• Optional-feature pricing
• Captive-product pricing
• Two-part pricing
• By-product pricing
• Product-bundling pricing
Co Branding
What is the Fifth P?
Packaging, sometimes called the 5th P,
is all the activities of designing and
producing the container for a product.
Factors Contributing to the
Emphasis on Packaging
• Self-service
• Consumer affluence
• Company/brand image
• Innovation opportunity
Packaging Objectives
• Identify the brand
• Convey descriptive and persuasive
information
• Facilitate product transportation and
protection
• Assist at-home storage
• Aid product consumption
Functions of Labels
For Review
• What are the characteristics of products and
how do marketers classify products?
• How can companies differentiate products?
• Why is product design important and what
factors affect a good design?
Also For Review
• 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?

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Product Mix.pptx