This document discusses various marketing management concepts related to products and pricing. It defines key terms like product, product mix, product differentiation, and branding. It explains different types of products, components of a product mix, ways to differentiate a product, and the significance of brands to producers, distributors, and consumers. It also outlines several branding strategies, methods of selecting brand names, pricing objectives and factors, and various pricing and promotional strategies.
2. Product
A product is bundle of utilities offered in market to
satisfy a want or need
Types:-
◦Industrial
◦Consumer
◦Convenient
◦Shopping
◦Specialty
◦Unsought
3. Product Mix
A product mix is the set of all products a particular seller
offers for sale. It is the combination of various product
lines.
◦Width ( no. of different product lines)
◦Length ( total no. of items in mix)
◦Depth (no. of variants offered in product line)
◦Consistency (how closely product lines are related to each other)
4. Color
Cosmetics
Skin Care Oral Care
Hair
Care
Deodorants
Soaps &
Detergents
Toilet
soaps
Beverages Food
Lakme
Fair &
Lovely
Peposdent Sunsilk Axe Surf Liril Lipton tea Annapurna Ata
Aviance Ponds Close up Clinic Pond's Rin Lifeboy Red Lable Annapurna Salt
Tooth
brush
Rexona Wheel Lux Tajmahal Kwality Wall's
Denim Vim Breez
Brook
Bond
Kissan
Ok Pears Bru
Hamam
Dove
Product Mix of HUL
5. Product Differentiation
It is the act of designing a set of meaningful differences to
distinguish the company’s offering from competitors.
Differentiation can occur in one or more of these areas –
product, services, personnel, channel, image
6. Brand & Branding
A brand mark is a symbol used for the purpose of
identification. It can be a mark, a design, a
distinctive logo type or a coloring scheme, a
picture.
Branding is the act of naming the product
7. Brand as a Concept
Significance of a Brand (Producer)
◦Promotional Advantage
◦Identification
◦Introduction to new product is easy
◦Price Discrimination
◦Product Mix Advantage
8. Significance of a Brand
(Distributor)
◦Serving product as per the need of the market
◦Inventory Management
◦Increasing market share
◦Availability advantage
◦Branded products have more stabilized prices
9. Significance of a Brand
(Consumer)
◦Easy to identify
◦Quality assurance
◦Price Guarantee
◦Packing Advantage
◦Overall satisfaction
◦Need Base offering
10. Brand Name Selection
Should suggest something about product benefits
Easy to pronounce
Distinctive (different)
Easy to translate in other languages
Capable to Registration (legal protection)
28. Brand Identity
An immediate perception of a brand in the mind of the costumer
Extended
Identity
Core identity
29. Brand Identity
Brand Core Identity Extended
Identity
Close-up Toothpaste Gel/Mouthwash
Maruti-800 Small /
Economic / Fuel
efficient Car
A big brand Name
/ Easy
availability / Time
Tested
Ashirwad Aatta Pure & Packaged
Aatta
Packaged /
Convenient / Pure
/ From a Good
Company
30. Brand Identity
Brand As Product
Brand as
Organization
Brand as Person
Brand as
Symbol
Brand Identity
Savlon IBM X-Deo Bisleri
31. Price
Price of an product is its market value expressed in term of money.
Objectives of Pricing
◦Price Stabilization
◦Targeted Return on Investment / Sale
◦Prevent Competition
◦Market Share
◦Maximize Sales / Profits
◦Promotion
32. Factors Affecting Pricing
Decision
Demand of the Product
Cost of Product
Channels of Distribution
PLC Stage of Product
Customer’s Characteristics
External Environment
33. Pricing Methods
Cost – Plus Pricing
Break Even Analysis & Targeted Return Method
Value Based Pricing
Competition Based Pricing
◦Discounted
◦At Par
◦Premium
34. Pricing Strategies
For Innovative Market
◦Skimming
◦Penetration
For Existing Market
◦Product Line Price Strategy
◦Captive Product Price Strategy
◦Product Bundling Price Strategy
◦Two Part Price Strategy
