LEAD College of Management

1. PRODUCT
Aravind
LEAD
College of Management

2. Definition
• Product is a need satisfying offering of a firm .”
Anything that can be offered to market for
attention , acquisition , use , or consumption
that might satisfy a want or need , include
physical objects, services, persons,
organisation and idea is called product “
• Product makes to satisfy one or more
physiological and / or psychological need of
the market at a given moment .

3. • A PRODUCT IS MORE THAN
A PHYSICSAL ENTITITY ; IT HAS A
PERSONALITY

4. Way of defining a product
• Product variety
• Quality
• Design
• Features
• Brand name
• Packaging
• Size
• Services
• Warranties

5. Product Differentiation
• Form - Size, shape, etc
• Features
• Performance quality
• Conformance quality
• Durability
• Reliability
• Reparability
• Style

6. Product attains different level
• GENERIC PRODUCT
• BRANDED PRODUCT
• DIFFERENTIATED PRODUCT
• CUSTOMISED PRODUCT
• AUGMENTED PRODUCT
• POTENTIAL PRODUCT

7. 1. THE GENERIC PRODUCT
 Unbranded product
 Does not have identity through a name
 Not linked to any one maker or owner
Eg :- Rice, bread, atta

8. 2. BRANDED PRODUCT
Have identity through a name
Have packing

9. 3. DIFFERENTIATED PRODUCT
 Enjoys distinction from other similar
products/brands in the market .
 Endorse the brand with some special
attribute/qualities and claims uniqueness
 Differentiation may be tangible
 Maggi, detol soap(PIC)

10. 4. CUSTOMISED PRODUCT
 A product that is adapted to the
requirements of the individual customer
 Eg :- Caller tune
 Bufor car :- Kula-Lumpur produces only 300
of these cars an year . One has to book and
wait .Price stars from $ 250,000 ,
900 man-hours

11. 5. AUGMENTED PRODUCTS
 Improved with value addition
Goes beyond the expectation the customer
Extra features

12. 6. POTENTIAL PRODUCT
 Tomorrow’s product
 Eg : Resent Auto expo , Honda motor
company displayed the humanoid robot
called ASIMO ,it will replace the chauffeur in
Honda cars .

13. Components of product personality
A. CORE PRODUCT
The Core product = Basic product
(no other associated features)
 Other components are superimposed on
this basic product to constitute the total
personality of the product

14. NO FIRM CAN BUILT A GOOD PRODUCT
PERSONALIY WHEN THE BASIC CONSTITUENT
OF THE PRODUCT IS SUB-STANDARD

15. Lesson
THE BASIC PRODUCT CONSTITUENT HAS TO BE
GOOD , IF THE TOTAL PRODUCT PERSONALITY
HAS TO BE EFFECTIVE .

16. Components of product personality
,Ctn…
B. ASSOSIATED FEATURE
Basic feature = Soap
Additional features = Size ,shape, colour , smell
Every additional feature is intended to enhance
the personality of the product .

17. Product features Vs. Product benefit
Hush puppies (Bata)
Product features Customer benefit
• Cow leather uppers • Suppleness and soft
comfort
• Form padding on uppers • Quilted and caressed
comfort
• Leather sock lining • Natural feel and breathable
comfort
• Latex foam
• Shock absorbing comfort
• Polyurethane sole
• Light weight comfort

18. C. Brand Name
Name , term , symbol ,design , or a
combination of them
Helps to identify the goods and services of one
seller from another .

19. D. Logo
 It supports the brand effectively
 It is a brand mark / symbol
 Communicate easily
 It is Mnemonic ( Memory aid)

20. E. Packaging
• For consumer product
• Giving protection to the product
• Giving information about the product
• Adding aesthetics and sales appel
Label :-
 Provides written information about the product
 Helps to understand the nature of the product ,
distinctive features , its composition

21. PRODUCT MIX

22. Product mix
Which is larger entity , denotes the complete set
of all products offered for sale by a company

23. Product line
A group of closely related product constitutes
a product line .
The product mix of a company is composed of
all product line
Product Mix
Oral care Hair care Toilet product
Line 1
Line 2 Line 3

24. Width
Number of product line it carries
Width
Orel care Health care Beauty care Life style
Product A Product A Product A Product A
Product B Product B Product B Product B
Product C Product C Product C
Product D Product D
Product E
Product F

25. Length
Length of product line is decided by the number
of different product/brands in the line , in
terms of variants ,shades, models ,pack size
,etc Personal
care
Product A
Product B
Length
Product C

26. Depth
The total number of items under each brand in
the line , in terms of variants, shades, models,
pack size etc 25gm
Pink 50gm
75gm
White
Lux
25gm
Black
50gm
75gm

27. • Line streching
The aim is enter a new price slot and a new
market segment, which is not covered b
existing offers of the firm (eg :philips-Power
house and Powerplay )
1.Up ward stretching – high price
2. Downward stretching - price less ( Hul ,surf is
in high price slot Rs40/kg ,Introduce Sunlight
Rs.26/kg and wheel low price Rs.10/kg)

28. Thank you