2. Entrepreneurs must have a full
knowledge as to what products are
needed in the society. The product will
be for the satisfaction of the group of
the target market. It must be specific,
identified from the others, and easily be
recognized.
3. 1. Cite the uniqueness of product over
other existing products in terms of
characteristics, variations and the like
4. 2. Use layman’s term in describing the
firm’s product or service. Present a
product mix if the firm will be selling
more than one product.
5. 3. Illustrate the usefulness of the
product/service. Provide substantial
information on effectiveness of
marketing which includes positioning
and strategies.
6. 4. Present the nature including the
content of raw materials that will be
used in the proposed product and its
source.
9. 1. Tangible Products -basic physical
appearance which can be a service or idea
having precise specifications and is offered
under a given/specified description or model
number.
Example: Honda Brio Model, House and Lot 400 sq
meters (floor and lot area).
10. 2. Augmented Product -includes the image
and service features of a certain entity. It gives
emphasis on the tangible benefits that the
customer will be getting from buying and selling.
Ex. Car insurance, medical & Dental benefits, fire
insurance.
11. 3. Generic Product -emphasizes the
impact of the product to the consumer, not the
seller. This will signify the purpose of its existence
and the primarily objective in creating the product.
Ex. Prestige, status signal, professional image.
18. 1. Goods
Durable Goods - physical
products that are used over a long period of
time.
Example: Steel, stainless, appliances.
19. 1. Goods
Non-durable Goods -
physical goods that are quick and easily be
consumed or worn out.
Example: Plastic wares.
20. 2. Services- intangible products that
satisfaction can be measured in future
preferences.
Example: Relaxation in salon and spa; Education
from school.
22. 2. Services
Rented-goods services -
consumer rented facility of the sellers in a
certain period of time.
Example: Car or space rental
23. 2. Services
Owned-goods services -
repair and maintenance services rendered by
the sellers to the products of the customer.
Example: Laundry business, car wash.
24. 2. Services
Non-goods services -
personal service on the part of the seller, most common are
the expertise and profession of the seller.
Example: Teacher will act as tutor, accountant will act as
bookkeeper, lawyer will act as legal consultant, receptionist and guest
relation officer.
25.
26. These are goods and services
destined/produced for the final consumer
for personal, family, or household use.
The use of the goods or services
designates it as a consumer product.
29. 1. Convenience Products -are purchased
with the minimum or less effort because
the buyer has knowledge of product
characteristics prior to shopping.
30. 2. Shopping Products -are products that
the consumers acquire through further
knowledge and information in order to
make final purchase decision.
31. 3. Specialty Products -are the items with
particular brands and stores which consumers
are loyal. They are willing to make a
significant effort to acquire the brand desired
units and will pay a higher or above the price
of similar products.
32.
33. - are goods or services purchased for
use/consumption in the
production/manufacturing of other goods
or services, in the operation of a business
or for resale to other customers.
34. Raw materials — Example: Cotton, timber,
etc.
Manufactured parts — Example: Radiator,
battery, etc., needed by a car manufacturer.
Supplies or Consumables — Example:
Lubricants, oils, etc.
