This lecture is exclusively prepared for MBA student of Institute of Health Management, Dow University of Health Sciences.

1. Prof Dr. Akhlas Ahmed
From Product to Customer
Lecture # 3
IHM - DUHS
27th
FEB, 2019

2. QUIZ # 1 (20.02.2019)
Write any one definition of a Marketing?
Justify your answer with one example.

3. OPEN FORUM:
LETS TALK…

5. PRODUCT:
A good idea, method, information,
object or service created as a result
of a process and serves a need or
satisfies a want. It has a combination
of tangible and intangible attributes
(benefits, features, functions, uses)
that a seller offers a buyer for
purchase.

6. A product is anything that can be
offered to a market for attention,
acquisition, use or consumption that
might satisfy a want or a need.
Philip Kotler

7. COMPONENT OF A PRODUCT:
1.Brand name: a brand is defined as the name, term,
symbol, logo, design or a combination of them, which
gives the product and services certain identity.
2.Core product: it is the actual benefit the consumer is
seeking from the purchase.
3.Packaging: it is the pack of the product.

8. COMPONENTS OF PRODUCT MIX:
Retailers carry a mixture of products to satisfy
various customers. The product mix includes
four common elements:
1.Length
2.Breadth
3.Depth
4.Consistency

9. PRODUCT CLASSIFICATION:
It help marketers focus their efforts using
consumers' buying behavior.
Consumer products are often classified as:
1.Convenience goods
2.Shopping goods
3.Specialty products
4.Unsought goods.

11. SERVICE:
Intangible products such as
accounting, banking, cleaning,
consultancy, education, insurance,
expertise, medical treatment, or
transportation.
Sometimes services are difficult to
identify because they are closely
associated with a good; such as the
combination of a diagnosis with the
administration of a medicine..

12. A service is an act of performance
that one party can offer to another
that is essentially intangible and does
not result in the ownership of
anything. Its production may or may
not be tied to a physical product.
Philip Kotler

14. In sales, commerce and economics, a
customer is the recipient of a good,
service, product or an idea - obtained
from a seller, vendor, or supplier via a
financial transaction or exchange for
money or some other valuable
consideration. In other words
customer is one who purchases a
commodity or service through cash or
used a credit card.

15. Customer satisfaction as a 'person's
feeling of pleasure or disappointment
which resulted from comparing a
product's perceived performance or
outcome against his/her expectations'.
Philip Kotler

16. CUSTOMER VS CONSUMER:
1.Customer is someone who buys goods or
services from a store or business.
2.Consumer is someone who consume
goods or services.

17. TYPES OF CUSTOMERS:
Here are five sales-oriented types of customers.
1.Potential customer
2.New customer
3.Impulsive Customer
4.Discount customer
5.Loyal customer

18. COMPONENTS OF CRM:
Customer Relationship Management
1.Sales Force Automation
2.Human Resource Management
3.Lead Management
4.Customer Service
5.Marketing
6.Workflow Automation
7.Business Reporting
8.Analytics

20. DISTRIBUTION CHANNEL:
The process of making a product or
service available for the consumer or
business user who needs it. This can
be done directly by the producer or
service provider, or using indirect
channels with distributors or
intermediaries.

21. “A channel of distribution is a set of
independent organizations involved in
the process of making a product or
service available for use or
consumption by the consumer or
business user.
Philip Kotler

31. SEGMENTATION:
It is a technique used to identify and
satisfy the needs of specific groups of
customers with similar requirements
within a market. Segmentation is an
alternative to offering a “one size fits
all” product to all markets.

32. PRODUCT SEGMENTATION:
It is a flexible way of grouping products.
In a similar fashion to a target group,
a product segment contains all products
that possess a particular combination
of product attributes.

33. PRODUCT MANAGEMENT:
It is an organizational lifecycle function
within a company dealing with the
planning, forecasting, and production, or
marketing of a product or products at all
stages of the product lifecycle. It provides
provides product information for companies
and their extended supply chain enterprise.

34. PRODUCT MANAGEMENT
TOOLS:
1.Product strategy and road mapping.
2.Analytics.
3.Customer feedback.
4.Design and wire framing.
5.User experience testing.
6.User onboarding.
7.Collaboration and productivity.
8.Project and task management.

35. PRODUCT MANAGEMENT PROCESS:
PMP is the end-to-end process of developing
and marketing products throughout their
lifecycle from concept to retirement.

36. PRODUCT DEVELOPMENT PROCESS:
PDP is the process of taking a product from
concept to production.

37. PRODUCT MARKETING PROCESS:
PMP are the customer facing aspects of
selling a product.

38. PRODUCT MARKET:
It refer to markets in which all kinds of
goods and services are made and traded,
for example the market for airline
travel; smart-phones, new cars;
pharmaceutical products and
the markets for financial services such
as banking, mortgages and pensions.

39. PRODUCT MANAGER:
A Product Manager is responsible for managing
a set of products or product lines over the life of
the product from ideation through development,
launch sale, and finally discontinuance. They
interface between the market and the product
team during development representing the voice
of the customer.

40. PRODUCT MANAGER SKILLS:
1.Know how to run good meetings.
2.Understand code.
3.Know how to sell (to engineers)
4.Be able to support others.
5.Have a solid understanding of ‘street statistics’
6.Take time to talk to customers.
7.Have a way with words.
8.Manage your time.

41. PRODUCT ROADMAP:
It is a powerful tool to describe how a product is
likely to grow, to align the stakeholders, and to
acquire a budget for developing the product. But
creating an effective roadmap is not easy,
particularly in an agile context where changes
occur frequently and unexpectedly.

43. QUIZ # 2 (27.02.2019)
What is the role of a product manager in
an organization?

44.  APPRECIATE QUESTIONS