The slideshow discusses about the product, product classification, product mix, new product development process, product life cycle (PLC) etc and other related concepts
This document discusses different types of products. It defines a product as anything that can satisfy a want or need. Consumer products are purchased for personal or family use, and are further classified as convenience products, shopping products, and specialty products based on the time and effort spent purchasing them. Consumer products are also classified as durable, non-durable, or services based on tangibility and durability. Industrial products are inputs used to produce other goods and include raw materials, supplies, and capital items.
The document discusses various concepts related to products, product classification, and product mix strategies for fast-moving consumer goods (FMCG) companies. It defines core product, tangible specifications, and augmented features. Products are classified as durable or non-durable. Non-durables include FMCG which are further divided into staples, impulse, and emergency goods. FMCG companies focus on high volumes and low margins through extensive distribution networks. Product mix refers to a company's product lines and items offered. Strategies for FMCG include multi-branding, product flanking, brand extensions, building new product lines, and new product development.
The document discusses new product development and its life cycle. It describes the 7 stages of new product development: 1) idea generation, 2) idea screening, 3) product concept development, 4) marketing strategy development, 5) business analysis, 6) product development, and 7) commercialization. It then explains the 4 stages of a product life cycle: introduction, growth, maturity, and decline. Each stage is characterized by different sales patterns and challenges for the business.
1. The document discusses various marketing concepts including the production concept, product concept, selling concept, and marketing concept.
2. It provides examples of companies that exemplify each concept, such as McDonalds following the production concept through operational efficiency, and Apple focusing on innovative products under the product concept.
3. The marketing concept aims to satisfy customer needs better than competitors, and the document cites Amul as successfully applying this approach through new product varieties.
The document classifies products in several ways:
1) By consumer habits as convenience goods that are inexpensive and frequently purchased, shopping goods that require more research, or specialty goods with premium prices.
2) By durability as nondurable goods for one-time use, durable goods that last for many uses, or intangible services.
3) For industrial goods as raw materials, component materials and parts, capital items like installations, supplies for maintenance and operations, or business services.
This document defines and describes different types of products. It discusses that a product can satisfy wants or needs and consists of a bundle of attributes. There are 5 levels of a product: core benefit, basic product, expected product, augmented product, and potential product. Each level adds more customer value. The document also describes consumer products like convenience products, shopping products, and specialty products. It outlines industrial products categories like materials and parts, capital items, and supplies and services.
Marketing plays important roles for both businesses and society. For businesses, marketing helps focus activities on customer needs and wants to drive satisfaction, retention, and growth. For the economy, marketing acts as a catalyst, helping raise standards of living by connecting customers with goods and services that meet their needs through efficient production and distribution systems.
The document discusses marketing definitions from various organizations and the importance and concepts of marketing. It provides 3 definitions of marketing: 1) activities involved in creating time, place and possession utilities (American Marketing Association); 2) planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges (American Marketing Association); 3) identifying, anticipating and satisfying customer requirements profitably (Chartered Institute of Marketing). It also discusses the marketing concept and different marketing management tasks including conversional, stimulational, developmental, remarketing, synchro, maintenance, demarketing, and counter marketing.
This document discusses different types of products. It defines a product as anything that can satisfy a want or need. Consumer products are purchased for personal or family use, and are further classified as convenience products, shopping products, and specialty products based on the time and effort spent purchasing them. Consumer products are also classified as durable, non-durable, or services based on tangibility and durability. Industrial products are inputs used to produce other goods and include raw materials, supplies, and capital items.
The document discusses various concepts related to products, product classification, and product mix strategies for fast-moving consumer goods (FMCG) companies. It defines core product, tangible specifications, and augmented features. Products are classified as durable or non-durable. Non-durables include FMCG which are further divided into staples, impulse, and emergency goods. FMCG companies focus on high volumes and low margins through extensive distribution networks. Product mix refers to a company's product lines and items offered. Strategies for FMCG include multi-branding, product flanking, brand extensions, building new product lines, and new product development.
The document discusses new product development and its life cycle. It describes the 7 stages of new product development: 1) idea generation, 2) idea screening, 3) product concept development, 4) marketing strategy development, 5) business analysis, 6) product development, and 7) commercialization. It then explains the 4 stages of a product life cycle: introduction, growth, maturity, and decline. Each stage is characterized by different sales patterns and challenges for the business.
1. The document discusses various marketing concepts including the production concept, product concept, selling concept, and marketing concept.
2. It provides examples of companies that exemplify each concept, such as McDonalds following the production concept through operational efficiency, and Apple focusing on innovative products under the product concept.
3. The marketing concept aims to satisfy customer needs better than competitors, and the document cites Amul as successfully applying this approach through new product varieties.
The document classifies products in several ways:
1) By consumer habits as convenience goods that are inexpensive and frequently purchased, shopping goods that require more research, or specialty goods with premium prices.
2) By durability as nondurable goods for one-time use, durable goods that last for many uses, or intangible services.
3) For industrial goods as raw materials, component materials and parts, capital items like installations, supplies for maintenance and operations, or business services.
This document defines and describes different types of products. It discusses that a product can satisfy wants or needs and consists of a bundle of attributes. There are 5 levels of a product: core benefit, basic product, expected product, augmented product, and potential product. Each level adds more customer value. The document also describes consumer products like convenience products, shopping products, and specialty products. It outlines industrial products categories like materials and parts, capital items, and supplies and services.
Marketing plays important roles for both businesses and society. For businesses, marketing helps focus activities on customer needs and wants to drive satisfaction, retention, and growth. For the economy, marketing acts as a catalyst, helping raise standards of living by connecting customers with goods and services that meet their needs through efficient production and distribution systems.
The document discusses marketing definitions from various organizations and the importance and concepts of marketing. It provides 3 definitions of marketing: 1) activities involved in creating time, place and possession utilities (American Marketing Association); 2) planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges (American Marketing Association); 3) identifying, anticipating and satisfying customer requirements profitably (Chartered Institute of Marketing). It also discusses the marketing concept and different marketing management tasks including conversional, stimulational, developmental, remarketing, synchro, maintenance, demarketing, and counter marketing.
This document provides an overview of promotion mix strategies. It defines promotion as communicating with customers to inform them about a product and persuade them to purchase it. The document then discusses various promotion techniques including advertising, sales promotion, personal selling, publicity, direct marketing, and public relations. It provides details on each technique, such as the objectives and examples. The factors that influence a company's promotion mix are also reviewed.
The document discusses different types of products, classifying them as either consumer products which are meant for ultimate consumption, or industrial products which are purchased for business use or further processing. Consumer products are further broken down into convenience goods, shopping goods, specialty goods, and unsought goods based on customer purchase behaviors. Industrial products include materials and parts, capital items, and supplies and services.
The document discusses consumer buying behavior and factors that influence purchase decisions. It covers various models of consumer behavior including the economic model, learning model, psychoanalytical model, and sociological model. It also discusses Maslow's hierarchy of needs, characteristics affecting consumer behavior, motives, habits, the buying process, and factors like culture, social groups, and personality that influence consumer decisions. Finally, it analyzes the Indian consumer market and classifications based on economic status.
The document discusses the concept of products. It defines a product as anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. It then discusses the meaning, features, levels, and classification of products. Products can be classified based on tangibility, durability, user type as consumer or industrial goods, and social benefit. The document also discusses product mix decisions, product line appraisal, and product hierarchy.
This document discusses the key elements of marketing mix. It defines marketing mix as the set of marketing tools used by a firm to achieve its marketing objectives for a target market. The four main elements, or the "four P's", of a marketing mix are Product, Price, Place, and Promotion. The document explains each of these elements in detail and how firms can develop strategies around product assortment, pricing methods, distribution channels, and promotional activities to satisfy customer needs. Uncontrollable external factors that also influence marketing are also outlined.
The core concept of marketing can be summarized in 3 sentences:
Marketing involves individuals and groups obtaining products and services to fulfill needs and wants through exchange and creation of value. The exchange process consists of transactions between buyers and sellers. The goal of marketing is to work with target markets to facilitate potential exchanges that satisfy human needs and wants in an efficient way.
The document discusses the history, scope, types, applications, benefits and limitations of marketing research. It provides examples of early companies that conducted marketing research as well as case studies. It also outlines the role of marketing research in managerial decision making and characteristics of good marketing research professionals.
Marketing presentation of product conceptSantosh Gauda
This document discusses various aspects of products including definitions, classifications, product mixes, life cycles, packaging, and labeling. It defines a product as anything offered in a market to satisfy a want or need. Products are classified as consumer or industrial, with consumer further broken down into convenience, shopping, and specialty products. It provides examples of product mixes and discusses the typical life cycle stages of introduction, growth, maturity, and decline. The document also defines packaging and labeling, covering their primary functions to protect, store, and transport products, as well as secondary functions like promotion and sales.
A product can be anything that can be offered to the market to satisfy a want or a need.
This article describes the Five Product Levels of Philip Kotler, including examples and a template. After reading you will understand the basics of this powerful product marketing tool. In this article you can also download a free Five Product Levels template.
This document discusses advertising budgets, including how they are set and the factors that influence them. An advertising budget shows the total amount to be spent on advertising and how it will be allocated. It helps meet advertising objectives and is prepared for a specific future time period. Budgets can be set using the affordable method, percentage of sales method, competitive parity method, or objective and task method. The objective and task method is considered the most logical as it focuses on the advertising tasks needed to achieve objectives based on market research. The advertising budgeting process involves setting objectives, determining tasks, preparing the budget, approval, allocation, and monitoring. Factors influencing budgets include advertising tasks, product lifecycle stage, market share, competition, frequency,
The presentation discuss meaning and concept of Direct Marketing. It also discusses the Internet Marketing or Digital Marketing as a tool for Direct Marketing.
The document traces the evolution of marketing concepts from production orientation to holistic marketing. It discusses the key concepts of production, product, selling, marketing and holistic marketing. The holistic marketing concept acknowledges that all aspects of marketing are important, including relationship marketing, social responsibility marketing, internal marketing, and integrated marketing. It emphasizes building long-term relationships with customers and other stakeholders through an integrated marketing approach.
Chapter 10. distribution channel & logistics managementJags Jagdish
This document discusses key concepts in distribution channel and logistics management. It defines distribution channels and marketing strategies like push and pull. It also outlines categories of buyers, levels of distribution channels, functions of channels, and decisions around selecting and managing channel members. The document then discusses marketing systems like vertical marketing systems and franchising. It concludes by covering logistics elements such as warehousing, transportation, inventory control and order processing.
This document discusses key concepts in marketing. It defines marketing as an integrated process through which companies build relationships and create value for customers. The document outlines core concepts like understanding customer needs and targeting specific market segments. It also describes how the focus of marketing has evolved from production and selling to a customer-centric approach centered on creating value and satisfaction. Marketing is defined as being vital to organizational success by anticipating customer wants and delivering superior value compared to competitors.
The document discusses two main types of production systems: intermittent and continuous. Intermittent production involves producing goods in small batches based on customer orders, with irregular start/stop cycles. Continuous production aims to produce goods constantly to meet forecasted demand at large scale using standardized processes. Specific intermittent systems include project production (complex one-time orders), job production (custom single units), and batch production (producing in lots based on orders or forecasts). Continuous systems emphasize mass production of standardized goods and process production of a single product.
This document discusses several models of consumer buying behavior:
- Traditional models include the economic, learning, psychological, and sociological models.
- Contemporary models include the Howard-Sheth model, Nicosia model, Engle-Kollat-Blackwell model, EBM model, and organizational buying models.
- The Nicosia model explains consumer behavior as a system with stimuli as input and behavior as output across four fields: consumer/firm attributes, search/evaluation, purchase, and post-purchase.
Assessing service market potential - Classification of services – Expanded marketing mix – Service marketing – Environment and trends – Service market segmentation, targeting and positioning
This document discusses branding, including its meaning, definition, types, process, challenges, importance, advantages, and disadvantages. Branding involves developing a name, symbol or design to represent a product or company and distinguish it from competitors. It creates an identity and emotional connection with customers. While branding can boost sales and loyalty, it also requires substantial costs and long-term marketing to establish a brand image over time. The document provides an overview of key aspects of effective branding for businesses.
The document discusses pricing decisions and advertising. It covers the meaning of pricing, objectives of pricing like market penetration and skimming. Factors influencing pricing like costs, competition and economic conditions are examined. Methods of pricing such as cost-plus, target-profit and going-rate pricing are outlined. Advertising is defined and its characteristics like being paid communication and exposing prospects to messages are explained. Various advertising mediums like newspapers, magazines, radio, television and direct mail are also described.
This document defines product concept and provides examples of its implementation. Product concept is a process where a product is continually evolved over time to better satisfy customer needs. Apple is given as a strong example, as they followed product concept closely in upgrading their iPhone models with new features and improved design based on customer demand. In contrast, Blackberry failed to adequately follow customer demands and product concept, limiting their features and user friendliness. The conclusion stresses the importance of innovation and independent decision making to create the best products and advance lifestyle.
This document discusses key concepts related to product management and branding. It defines what a product is and outlines different levels of a product from the core benefit to the augmented product. It also categorizes different types of products and explains product hierarchies and mixes. Different strategies for new product development are presented, including reasons why new products may fail. Branding elements like names, logos, taglines, designs, and colors that identify and distinguish products are also summarized.
The document provides information on product mix, product line, product life cycle, branding, and marketing strategies at different stages of the product life cycle. It defines a product mix as the set of all product lines and items offered by a seller. A product line refers to a unique product category or brand offered that are closely related. The four stages of a product's life cycle are introduction, growth, maturity, and decline. Marketing strategies vary at each stage, from promotion to raise awareness in introduction to price cuts in decline. Branding helps create consumer preference and loyalty for a product.
This document provides an overview of promotion mix strategies. It defines promotion as communicating with customers to inform them about a product and persuade them to purchase it. The document then discusses various promotion techniques including advertising, sales promotion, personal selling, publicity, direct marketing, and public relations. It provides details on each technique, such as the objectives and examples. The factors that influence a company's promotion mix are also reviewed.
The document discusses different types of products, classifying them as either consumer products which are meant for ultimate consumption, or industrial products which are purchased for business use or further processing. Consumer products are further broken down into convenience goods, shopping goods, specialty goods, and unsought goods based on customer purchase behaviors. Industrial products include materials and parts, capital items, and supplies and services.
The document discusses consumer buying behavior and factors that influence purchase decisions. It covers various models of consumer behavior including the economic model, learning model, psychoanalytical model, and sociological model. It also discusses Maslow's hierarchy of needs, characteristics affecting consumer behavior, motives, habits, the buying process, and factors like culture, social groups, and personality that influence consumer decisions. Finally, it analyzes the Indian consumer market and classifications based on economic status.
The document discusses the concept of products. It defines a product as anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. It then discusses the meaning, features, levels, and classification of products. Products can be classified based on tangibility, durability, user type as consumer or industrial goods, and social benefit. The document also discusses product mix decisions, product line appraisal, and product hierarchy.
This document discusses the key elements of marketing mix. It defines marketing mix as the set of marketing tools used by a firm to achieve its marketing objectives for a target market. The four main elements, or the "four P's", of a marketing mix are Product, Price, Place, and Promotion. The document explains each of these elements in detail and how firms can develop strategies around product assortment, pricing methods, distribution channels, and promotional activities to satisfy customer needs. Uncontrollable external factors that also influence marketing are also outlined.
The core concept of marketing can be summarized in 3 sentences:
Marketing involves individuals and groups obtaining products and services to fulfill needs and wants through exchange and creation of value. The exchange process consists of transactions between buyers and sellers. The goal of marketing is to work with target markets to facilitate potential exchanges that satisfy human needs and wants in an efficient way.
The document discusses the history, scope, types, applications, benefits and limitations of marketing research. It provides examples of early companies that conducted marketing research as well as case studies. It also outlines the role of marketing research in managerial decision making and characteristics of good marketing research professionals.
Marketing presentation of product conceptSantosh Gauda
This document discusses various aspects of products including definitions, classifications, product mixes, life cycles, packaging, and labeling. It defines a product as anything offered in a market to satisfy a want or need. Products are classified as consumer or industrial, with consumer further broken down into convenience, shopping, and specialty products. It provides examples of product mixes and discusses the typical life cycle stages of introduction, growth, maturity, and decline. The document also defines packaging and labeling, covering their primary functions to protect, store, and transport products, as well as secondary functions like promotion and sales.
A product can be anything that can be offered to the market to satisfy a want or a need.
This article describes the Five Product Levels of Philip Kotler, including examples and a template. After reading you will understand the basics of this powerful product marketing tool. In this article you can also download a free Five Product Levels template.
This document discusses advertising budgets, including how they are set and the factors that influence them. An advertising budget shows the total amount to be spent on advertising and how it will be allocated. It helps meet advertising objectives and is prepared for a specific future time period. Budgets can be set using the affordable method, percentage of sales method, competitive parity method, or objective and task method. The objective and task method is considered the most logical as it focuses on the advertising tasks needed to achieve objectives based on market research. The advertising budgeting process involves setting objectives, determining tasks, preparing the budget, approval, allocation, and monitoring. Factors influencing budgets include advertising tasks, product lifecycle stage, market share, competition, frequency,
The presentation discuss meaning and concept of Direct Marketing. It also discusses the Internet Marketing or Digital Marketing as a tool for Direct Marketing.
The document traces the evolution of marketing concepts from production orientation to holistic marketing. It discusses the key concepts of production, product, selling, marketing and holistic marketing. The holistic marketing concept acknowledges that all aspects of marketing are important, including relationship marketing, social responsibility marketing, internal marketing, and integrated marketing. It emphasizes building long-term relationships with customers and other stakeholders through an integrated marketing approach.
Chapter 10. distribution channel & logistics managementJags Jagdish
This document discusses key concepts in distribution channel and logistics management. It defines distribution channels and marketing strategies like push and pull. It also outlines categories of buyers, levels of distribution channels, functions of channels, and decisions around selecting and managing channel members. The document then discusses marketing systems like vertical marketing systems and franchising. It concludes by covering logistics elements such as warehousing, transportation, inventory control and order processing.
This document discusses key concepts in marketing. It defines marketing as an integrated process through which companies build relationships and create value for customers. The document outlines core concepts like understanding customer needs and targeting specific market segments. It also describes how the focus of marketing has evolved from production and selling to a customer-centric approach centered on creating value and satisfaction. Marketing is defined as being vital to organizational success by anticipating customer wants and delivering superior value compared to competitors.
The document discusses two main types of production systems: intermittent and continuous. Intermittent production involves producing goods in small batches based on customer orders, with irregular start/stop cycles. Continuous production aims to produce goods constantly to meet forecasted demand at large scale using standardized processes. Specific intermittent systems include project production (complex one-time orders), job production (custom single units), and batch production (producing in lots based on orders or forecasts). Continuous systems emphasize mass production of standardized goods and process production of a single product.
This document discusses several models of consumer buying behavior:
- Traditional models include the economic, learning, psychological, and sociological models.
- Contemporary models include the Howard-Sheth model, Nicosia model, Engle-Kollat-Blackwell model, EBM model, and organizational buying models.
- The Nicosia model explains consumer behavior as a system with stimuli as input and behavior as output across four fields: consumer/firm attributes, search/evaluation, purchase, and post-purchase.
Assessing service market potential - Classification of services – Expanded marketing mix – Service marketing – Environment and trends – Service market segmentation, targeting and positioning
This document discusses branding, including its meaning, definition, types, process, challenges, importance, advantages, and disadvantages. Branding involves developing a name, symbol or design to represent a product or company and distinguish it from competitors. It creates an identity and emotional connection with customers. While branding can boost sales and loyalty, it also requires substantial costs and long-term marketing to establish a brand image over time. The document provides an overview of key aspects of effective branding for businesses.
The document discusses pricing decisions and advertising. It covers the meaning of pricing, objectives of pricing like market penetration and skimming. Factors influencing pricing like costs, competition and economic conditions are examined. Methods of pricing such as cost-plus, target-profit and going-rate pricing are outlined. Advertising is defined and its characteristics like being paid communication and exposing prospects to messages are explained. Various advertising mediums like newspapers, magazines, radio, television and direct mail are also described.
This document defines product concept and provides examples of its implementation. Product concept is a process where a product is continually evolved over time to better satisfy customer needs. Apple is given as a strong example, as they followed product concept closely in upgrading their iPhone models with new features and improved design based on customer demand. In contrast, Blackberry failed to adequately follow customer demands and product concept, limiting their features and user friendliness. The conclusion stresses the importance of innovation and independent decision making to create the best products and advance lifestyle.
This document discusses key concepts related to product management and branding. It defines what a product is and outlines different levels of a product from the core benefit to the augmented product. It also categorizes different types of products and explains product hierarchies and mixes. Different strategies for new product development are presented, including reasons why new products may fail. Branding elements like names, logos, taglines, designs, and colors that identify and distinguish products are also summarized.
The document provides information on product mix, product line, product life cycle, branding, and marketing strategies at different stages of the product life cycle. It defines a product mix as the set of all product lines and items offered by a seller. A product line refers to a unique product category or brand offered that are closely related. The four stages of a product's life cycle are introduction, growth, maturity, and decline. Marketing strategies vary at each stage, from promotion to raise awareness in introduction to price cuts in decline. Branding helps create consumer preference and loyalty for a product.
Product Mix and Product Classification by Neeraj Bhandari ( Surkhet.Nepal )Neeraj Bhandari
This document provides an overview of key marketing management topics including product classification, product mix, new product development, and product life cycle. It discusses the three levels of a product - core, actual, and augmented products. It also covers product attributes, new product development process, organizing for new product development, generating and screening new product ideas, physical product development, pre-test and test marketing, stages of product life cycle, commercialization, product hierarchy, importance and role of brands, brand identity, equity and power.
This document discusses product mix and the product life cycle. It defines what a product is and describes the different levels and classifications of products. It also outlines the new product development process and the stages involved, from idea generation to commercialization. Additionally, it explains the product life cycle framework, how sales and profits change at different stages from introduction to decline, and the appropriate marketing strategies to use in each stage. Limitations of the product life cycle model are also noted.
The document discusses product development and management. It defines a product as anything that can satisfy a want or need in the market, including both tangible goods and intangible services. It then outlines the different levels of a product from the core benefit to augmentations. It also classifies products based on durability, tangibility, and whether they are consumer or industrial goods. The document concludes by describing the seven stages of new product development: idea generation, idea screening, concept development and testing, marketing strategy development, business analysis, product development, and test marketing.
The document discusses various aspects of marketing mix related to products, including the 5 levels of a product, classification of consumer and industrial products, and the product development process. It also covers the product life cycle concept and the 4 stages of the product life cycle: introduction, growth, maturity, and decline. Finally, it provides an overview of marketing planning, implementation, and control cycle.
The document discusses key concepts related to products and branding. It defines what a product is, how products are classified into goods, services and ideas. It also explains the total product concept including core product, supplemental features and symbolic benefits. The document then discusses the product life cycle and how marketing strategies must adapt to the introduction, growth, maturity and decline stages. It concludes by explaining the importance of branding, defining brand equity and the value of brand loyalty and brand protection.
pm assignment for college students for scoringJaypatel645080
This document discusses products and product management. It begins by defining what a product is and identifying five levels of a product from the core benefit to potential future transformations. It then discusses classifying products in various ways such as consumer goods versus industrial goods. A major section covers the product life cycle and how marketing strategies must change at each stage from introduction to decline. Next, it addresses developing new products through the multi-stage process. Other topics include defining product mix and the objectives and importance of packaging and labeling.
This document defines key concepts related to product development and marketing. It begins by defining a product and classifying products as tangible or intangible, consumer or industrial. Products are also classified by durability as durable or non-durable. Additionally, consumer products are classified by shopping effort into convenience products, shopping products, and specialty products. The document then discusses idea generation methods, the product development process including research, planning, prototyping, testing and commercialization, and the product life cycle concept introduced by Levitt and Vernon.
The chapter discusses product characteristics and classification schemes, how companies can differentiate their products, and the importance of product design. It addresses how marketers can develop their product mix and product lines, combine products through co-brands and ingredient brands, and leverage packaging, labeling, warranties, and guarantees. The chapter also examines questions around what constitutes a product, how products are classified, strategies for product differentiation, and the significance of product design.
Marketing mix is one of the major concepts in modern marketing. It is the combination of various elements which constitutes the company’s marketing system. It is set of controllable marketing variables that the firm blends to produce the response it wants in the target market. Though there are many basic marketing variables.
The document discusses product management and pricing. It defines key concepts like products, product management, branding, packaging, and labeling. It explains product life cycle stages and strategies to manage products at different stages. It also discusses approaches to develop new products, build brands, and extend existing brands into related categories. The objective is to understand how to effectively manage products from development to pricing over their lifecycle.
A product is an item offered for sale that can be physical or virtual. It has a life cycle and may need to be adapted over time to remain relevant. A product needs to serve a purpose, function well, and be effectively communicated to users. It also requires a name to help it stand out.
A product hierarchy has multiple levels from core needs down to specific items. These include the need, product family, class, line, type, and item or stock keeping unit.
Products go through a life cycle with stages of development, introduction, growth, maturity, and decline. Marketing strategies must adapt to each stage such as heavy promotion and price changes in introduction and maturity.
A product is an item offered for sale that can be physical or virtual. It has a life cycle and may need to be adapted over time to remain relevant. A product needs to serve a purpose, function well, and be effectively communicated to users. It also requires a name to help it stand out.
A product hierarchy has multiple levels from core needs down to specific items. These include the need, product family, class, line, type, and item or stock keeping unit. Product systems combine related items that work together, while a product mix includes various product lines offered by a seller. Products are also classified as services, durables, or non-durables like fast moving consumer goods.
The product life
A product is an item offered for sale that can be physical or virtual. It is made at a cost and sold at a price. Products have a useful life and life cycle. They need to be relevant to users, functional, communicated about, and adaptable over time.
The product hierarchy has six levels from core needs to specific items. These include the need, product family, product class, product line, product type, and item.
Product classification depends on tangibility and durability. FMCG products are non-durable and include staples, impulse, and emergency goods. They have characteristics like high volumes, low margins, extensive distribution, and high stock turnover. A company's product mix includes its
Product Life Cycle (Managing Products and Brands)Chelbert Yuto
1) The document discusses marketing management and the product life cycle concept. It explains the different stages a new product goes through, from introduction to growth, maturity, and decline.
2) Product managers monitor sales and market share trends to manage how products are modified, marketed to new audiences, or repositioned throughout the life cycle. Branding, packaging, and labeling strategies are also reviewed.
3) Successful branding builds brand equity and loyalty by developing brand awareness and positive associations in consumers' minds through marketing programs. Packaging and labeling identify products and convey important information to customers.
Productplannigdev anintroduction-111213063417-phpapp02Giselle Elle
This document provides an overview of product planning and development. It defines what constitutes a product and notes that products can be physical goods, services, persons, organizations, ideas, or places. It discusses the three aspects of a product: physical, functional, and symbolic. The document also outlines the stages of new product development from idea generation to commercialization. It describes various types of new products and the product life cycle theory. Finally, it discusses factors to consider for product planning such as customer needs analysis, marketing strategy development, business analysis, product testing, and launch.
Public relations involves establishing mutual understanding between an organization and the public through planned efforts. It aims to connect with the public to achieve organizational objectives and influence public opinion. Some key PR tools include press releases, interviews, corporate films, company magazines, sponsorships, donations, and social media presence. Sponsoring events allows companies to connect with target audiences while gaining branding opportunities. Companies must carefully select, design, execute, and evaluate sponsorships and organized events to achieve their objectives. Ambush marketing involves competing companies deflecting attention from official sponsors of an event.
Introduction to Intergrated Marketing CommunicationAshish Awasthi
The document discusses Integrated Marketing Communication (IMC). IMC coordinates all marketing communication tools to deliver consistent messaging to customers. It helps differentiate products, create awareness, and persuade customers to purchase. IMC plays a vital role in the marketing process, especially in promotion. The factors that affect IMC include promotion objectives, budget, available tools, and customer responses. The main IMC tools discussed are advertising, public relations, sales promotion, personal selling, direct marketing, and publicity through word-of-mouth.
The Slideshow discussed Indian Companies Act 2013. It talks about Meaning of a company, kinds of companies, formation of a company, memorandum and articles of association, prospectus - contents and types, company directors and their appointment, removal, powers and duties, meetings of the board, winding up of a company.
The slides in the presentation talk about the Indian Partnership act 1932. It explains the various types of partners, types of partnerships, rights and duties of partners, minor as a partner, registration and dissolution of partnership firm.
This document discusses sampling and data collection methods in research. It defines key terms like population, sample, sampling techniques. It distinguishes between probability sampling methods like simple random sampling, cluster sampling and non-probability methods like convenience sampling. It also covers sample size determination, data collection methods like questionnaires, schedules and interviews. Primary and secondary data collection is explained along with best practices in designing questionnaires and minimizing errors in sampling.
The slideshow contains study material for Indian Contact Act - Meaning of Contract, essentials of a valid contract, performance and discharge of a contract, contract of - indemnity and guarantee, bailment and pledge, agency.
This document provides an overview of recent trends in marketing, including the importance of data analytics, customer relationship marketing, digital marketing, sustainable marketing, rural marketing, and global marketing. It discusses how data analytics is used to make better marketing decisions and analyze customer data. Customer relationship marketing focuses on developing long-term customer relationships through good customer service and communication. Digital and global marketing are growing in popularity due to factors like increased internet access. Sustainable marketing promotes environmentally-friendly products. Rural marketing addresses the specific needs and challenges of marketing to rural communities. The document also introduces incoterms, which are international commercial terms that define responsibilities in transporting goods internationally.
Unit 8 part_1_evaluating_marketing_performanceAshish Awasthi
There are four types of marketing controls according to Professor Philip Kotler:
1. Annual plan control monitors current marketing efforts and results to ensure annual sales and profit goals are achieved through setting targets, monitoring performance, identifying deviations, and taking corrective actions.
2. Profitability control determines the actual profitability of products, territories, segments, and channels and examines whether the company is making or losing money to inform expansion and contraction decisions.
3. Efficiency control evaluates and improves spending efficiency and impact of activities like personal selling, advertising, sales promotion, and distribution by analyzing sales, advertising, promotion, and distribution efficiency.
4. Strategic control ensures marketing objectives, strategies, and systems are optimally
This document discusses various tools for marketing communication including advertising, public relations, sales promotion, personal selling, direct marketing, and publicity. It provides details on each tool such as definitions, objectives, methods, examples, and the process of planning marketing communications. The key tools covered are advertising, its objectives and budgeting process, public relations objectives and methods, sales promotion methods and examples, and the process of personal selling. Social media marketing and its advantages for companies are also overviewed.
Unit 6 part_2_distribution_channel_managementAshish Awasthi
Distribution channels involve intermediaries that help transfer products from manufacturers to consumers. A typical distribution channel involves manufacturers selling to distributors or wholesalers, who then sell to retailers, who finally sell to consumers. Effective distribution channels are important for companies to get products to consumers through various intermediaries at the right place, time, quantity and price. Common distribution channel members include manufacturers, distributors, wholesalers, retailers, and transporters.
Unit 6 part_1_pricing_and_pricing_strategiesAshish Awasthi
The document discusses pricing and pricing strategies. It defines pricing as the process of setting the price of a product or service. Setting prices can be challenging as prices that are too high will reduce sales and prices that are too low will not generate sufficient revenue. Pricing objectives include earning revenue, increasing sales, beating competition and gaining market share. Key factors that impact pricing are costs, demand, competition and government policies. Common methods for setting prices include cost-plus pricing, value-based pricing and competition-based pricing. Popular pricing strategies are skimming pricing, penetration pricing, dynamic pricing and bundle pricing.
The document provides an overview of key concepts related to consumer buying behaviour including:
1. Consumer behaviour involves the processes of acquiring, using, and disposing of goods and services, and can be influenced by cultural, social, personal and psychological factors.
2. Studying consumer behaviour helps organizations understand customers to better achieve their objectives and influence economic and social conditions.
3. Consumer decision making can range from routine to extensive processes depending on the product, and can be impacted by circumstances.
4. Understanding consumer habits, motives, decision processes and influences is important for marketers to maximize sales and profits.
Market segmentation involves dividing a heterogeneous market into homogeneous segments based on characteristics like geography, demographics, or product usage. This allows companies to target specific segments and better meet customer needs. Key aspects of segmentation include identifying measurable, accessible, and representative segments. Common bases for segmentation are geographic, demographic, socio-economic, and product-related factors. Effective segmentation and targeting of specific market segments allows companies to concentrate their marketing efforts and resources.
Unit 2 marketing_environment_marketing_strategyAshish Awasthi
The document discusses marketing environment and strategies. It defines marketing environment as consisting of internal and external factors that influence a business. The internal environment is controllable while the external is uncontrollable. Marketing strategies include strategic planning, which involves goal setting, analysis, implementation and tracking. Strategic planning helps evaluate opportunities and threats. Marketing control ensures plans are monitored and adjusted, including annual, profitability, efficiency and strategic controls.
Unit 1 marketing_introduction_basic_conceptsAshish Awasthi
The document provides an introduction to key concepts in marketing. It defines marketing and discusses the 4Ps of the marketing mix - product, price, place, and promotion. It also outlines additional considerations for services marketing, including people, process, and physical evidence. The document explores various marketing philosophies and concepts including the marketing concept, holistic marketing, co-creation, and customer engagement. It provides examples to illustrate these concepts.
The slideshow talk about brand, branding, brand positioning, brand portfolio, brand equity and related concepts. It discusses about how a product is developed into a brand.
The Strategic Impact of Storytelling in the Age of AI
In the grand tapestry of marketing, where algorithms analyze data and artificial intelligence predicts trends, one essential thread remains constant — the timeless art of storytelling. As we stand on the precipice of a new era driven by AI, join me in unraveling the narrative alchemy that transforms brands from mere entities into captivating tales that resonate across the digital landscape. In this exploration, we will discover how, in the face of advancing technology, the human touch of a well-crafted story becomes not just a marketing tool but the very essence that breathes life into brands and forges lasting connections with our audience.
How to Use AI to Write a High-Quality Article that Ranksminatamang0021
In the world of content creation, many AI bloggers have drifted away from their original vision, resulting in low-quality articles that search engines overlook. Don't let that happen to you! Join us to discover how to leverage AI tools effectively to craft high-quality content that not only captures your audience's attention but also ranks well on search engines.
Disclaimer: Some of the prompts mentioned here are the examples of Matt Diggity. Please use it as reference and make your own custom prompts.
Dive deep into the cutting-edge strategies we're employing to revolutionize our web presence in the age of AI-driven search. As Gen Z reshapes the digital realm, discover how we can bridge the generational divide. Unlock the synergistic power of PPC, social media, and SEO, driving unparalleled revenues for our projects.
Did you know that while 50% of content on the internet is in English, English only makes up 26% of the world’s spoken language? And yet 87% of customers won’t buy from an English only website.
Uncover the immense potential of communicating with customers in their own language and learn how translation holds the key to unlocking global growth. Join Smartling CEO, Bryan Murphy, as he reveals how translation software can streamline the translation process and seamlessly integrate into your martech stack for optimal efficiency. And that's not all – he’ll also share some inspiring success stories and practical tips that will turbocharge your multilingual marketing efforts!
Key takeaways:
1. The growth potential of reaching customers in their native language
2. Tips to streamline translation with software and integrations to your tech stack
3. Success stories from companies that have increased lead generation, doubled revenue, and more with translation
Capstone Project: Luxury Handloom Saree Brand
As part of my college project, I applied my learning in brand strategy to create a comprehensive project for a luxury handloom saree brand. Key aspects of this project included:
- *Competitor Analysis:* Conducted in-depth competitor analysis to identify market position and differentiation opportunities.
- *Target Audience:* Defined and segmented the target audience to tailor brand messages effectively.
- *Brand Strategy:* Developed a detailed brand strategy to enhance market presence and appeal.
- *Brand Perception:* Analyzed and shaped the brand perception to align with luxury and heritage values.
- *Brand Ladder:* Created a brand ladder to outline the brand's core values, benefits, and attributes.
- *Brand Architecture:* Established a cohesive brand architecture to ensure consistency across all brand touchpoints.
This project helped me gain practical experience in brand strategy, from research and analysis to strategic planning and implementation.
The Secret to Engaging Modern Consumers: Journey Mapping and Personalization
In today's digital landscape, understanding the customer's journey and delivering personalized experiences are paramount. This masterclass delves into the art of consumer journey mapping, a powerful technique that visualizes the entire customer experience across touchpoints. Attendees will learn how to create detailed journey maps, identify pain points, and uncover opportunities for optimization. The presentation also explores personalization strategies that leverage data and technology to tailor content, products, and experiences to individual customers. From real-time personalization to predictive analytics, attendees will gain insights into cutting-edge approaches that drive engagement and loyalty.
Key Takeaways:
Current consumer landscape; Steps to mapping an effective consumer journey; Understanding the value of personalization; Integrating mapping and personalization for success; Brands that are getting It right!; Best Practices; Future Trends
[Google March 2024 Update] How To Thrive: Content, Link Building & SEOSearch Engine Journal
March 2024 disrupted the SEO industry. Websites were deindexed, and manual penalties were delivered—all to produce more helpful, more trustworthy search results.
How did your website fare?
Watch us as we delve into the seismic shifts brought about by Google's March 2024 updates and explore strategies to not just survive, but thrive in this dynamic digital landscape.
You’ll learn:
- How to create content that is valuable to users (not just search engines) using E-E-A-T.
- How to build links that can boost rankings and withstand algorithm updates.
- Best practices for content creation and link building so you can thrive during algorithm updates.
With Vince Ramos, we'll examine the implications of the latest algorithm changes on content creation, link building, and SEO practices, and offer actionable insights from businesses like yours that have remained steadfast amidst the volatility.
Using real-life case studies, we’ll also show you the effectiveness of manual link building techniques and person-first content strategies.
Whether you're a seasoned SEO professional, a budding content creator, or anyone in between, this webinar will help you weather the changes in Google's algorithms and capitalize on them for sustained success.
Check out this webinar and unlock the secrets to thriving in the new Google era.
Build marketing products across the customer journey to grow your business and build a relationship with your customer. For example you can build graders, calculators, quizzes, recommendations, chatbots or AR apps. Things like Hubspot's free marketing grader, Moz's site analyzer, VenturePact's mobile app cost calculator, new york times's dialect quiz, Ikea's AR app, L'Oreal's AR app and Nike's fitness apps. All of these examples are free tools that help drive engagement with your brand, build an audience and generate leads for your core business by adding value to a customer during a micro-moment.
Key Takeaways:
Learn how to use specific GPTs to help you Learn how to build your own marketing tools
Generate marketing ideas for your business How to think through and use AI in marketing
How AI changes the marketing game
The session includes a brief history of the evolution of search before diving into the roles technology, content, and links play in developing a powerful SEO strategy in a world of Generative AI and social search. Discover how to optimize for TikTok searches, Google's Gemini, and Search Generative Experience while developing a powerful arsenal of tools and templates to help maximize the effectiveness of your SEO initiatives.
Key Takeaways:
Understand how search engines work
Be able to find out where your users search
Know what is required for each discipline of SEO
Feel confident creating an SEO Plan
Confidently measure SEO performance
When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.\
Key Takeaways:
- New framework for examining and safeguarding an online reputation
- Tools and techniques to keep you a step ahead
- Practical examples that demonstrate when to act, how to act and how to recover
Lily Ray - Optimize the Forest, Not the Trees: Move Beyond SEO Checklist - Mo...Amsive
Lily Ray, Vice President of SEO Strategy & Research at Amsive, explores optimizing strategies for sustainable growth and explores the impact of AI on the SEO landscape.
As 2023 proved, the next few years may be shaped by market volatility and artificial intelligence services such as OpenAI's ChatGPT and Perplexity.ai. Your brand will increasingly compete for attention with Google, Apple, OpenAI, and Amazon, and customers will expect a hyper-relevant and individualized experience from every business at any moment. New state-legislated data privacy laws and several FTC rules may challenge marketers to deliver contextually relevant customer experiences, much less reach unknown prospective buyers. Are you ready?Let's discuss the critical need for data governance and applied AI for your business rather than relying on public AI models. As AI permeates society and all industries, learn how to be future-ready, compliant, and confidentlyscaling growth.
Key Takeaways:
Primary Learning Objective
1: Grasp when artificial general intelligence (""AGI"") will arrive, and how your brand can navigate the consequences. Primary Learning Objective
2: Gain an accurate analysis of the continuously developing customer journey and business intelligence. Primary Learning Objective
3: Grow revenue at lower costs with more efficient marketing and business operations.
In this presentation, Danny Leibrandt explains the impact of AI on SEO and what Google has been doing about it. Learn how to take your SEO game to the next level and win over Google with his new strategy anyone can use. Get actionable steps to rank your name, your business, and your clients on Google - the right way.
Key Takeaways:
1. Real content is king
2. Find ways to show EEAT
3. Repurpose across all platforms
As the call for for skilled experts continues to develop, investing in quality education and education from a reputable https://www.safalta.com/online-digital-marketing/best-digital-marketing-institute-in-noida Digital advertising institute in Noida can lead to a a success career on this eve
In the digital age, businesses are inundated with tools promising to streamline operations, enhance creativity, and boost productivity. Yet, the true key to digital transformation lies not in the accumulation of tools but in strategically integrating the right AI solutions to revolutionize workflows. Join Jordache, an experienced entrepreneur, tech strategist and AI consultant, as he explores essential AI tools across three critical categories—Ideation, Creation, and Operations—that can reshape the way your business creates, operates, and scales.This talk will guide you through the practicalities of selecting and effectively using AI tools that go beyond the basics of today’s popular tools like ChatGPT, Claude, Gemini, Midjourney, or Dall-E. For each category of tools, Jordache will address three crucial questions: What is each tool? Why is each one valuable to you as a business leader? How can you start using it in your workflow? This approach will not only clarify the role of these tools but also highlight their strategic value, making it perfect for business leaders ready to make informed decisions about integrating AI into their workflows.
Key Takeaways:
>> Strategic Selection and Integration: Understand how to select AI tools that align with your business goals and how to conceptually integrate them into your workflows to enhance efficiency and innovation.
>> Understanding AI Tool Categories: Gain a deeper understanding of how AI tools can be leveraged in the areas of ideation, creation, and operation—transforming each aspect of your business.
>> Practical Starting Points: Learn how you can start using these tools in your business with practical tips on initial steps and integration ideas.
>> Future-Proofing Your Business: Discover how staying informed about and utilizing the latest AI tools and strategies can keep your business competitive in a rapidly evolving digital landscape.
Google Ads Vs Social Media Ads-A comparative analysisakashrawdot
Explore the differences, advantages, and strategies of using Google Ads vs Social Media Ads for online advertising. This presentation will provide insights into how each platform operates, their unique features, and how they can be leveraged to achieve marketing goals.
Google Ads Vs Social Media Ads-A comparative analysis
The Product Concept
1. Department of MBA
IMS Engineering College, Ghaziabad
Marketing Management – II
UNIT 2 PART 1
PRODUCT, PRODUCT MIX, PROODUCT
LEVELS, PRODUCT LIFE CYCLE
2. Product – Meaning
• According to Philip Kotler, 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.
• It includes physical objects (tangible products),
persons, places, organizations and ideas
• E.g. TV, washing machine, vacation trip
package, hotel stay, driver etc.
4. Product Levels
• Core Product: What consumers are really buying
when purchasing a product, in this, it is the core
problem or need which is addressed.
• Basic Product: Basic product is one level up. It
refers to the actual product being offered to the
customer
• Expected Product: Expected product is what the
customer expects from the seller. E.g. in a two
star hotel stay service, air conditioner is expected
5. Product Levels
• Augmented Product: Augmented product can
be defined as the product in which the seller
has added something from his own.
Augmented means higher than the expectation
of the consumer
• Potential Product: Potential product is one
which does not exist currently but has a
possibility of existing in future. E.g. wi-fi
services during fights
7. Classification of Products
Convenience Goods: Convenience goods are
items consumers buy often and easily without
putting much thought into them. These include
newspapers, magazines, most grocery items, and
petrol. Since consumers have a good sense of how
much these items cost
Shopping Products: consumer goods that are
usually purchased only after the customer has
compared price, quality, and style in more than
one store — compare convenience goods
8. Classification of Products
Specialty Products: Specialty goods have particularly
unique characteristics and brand identifications for
which a significant group of buyers is willing to make a
special purchasing effort. Examples include specific
brands of fancy products, luxury cars, professional
photographic equipment etc
Unsought goods: Unsought Goods are goods that the
consumer does not know about or does not normally
think of buying, and the purchase of which arises due to
danger or the fear of danger and lack of desire. The
classic examples of known but unsought goods are
funeral services, encyclopedias, fire extinguishers etc
10. Product Hierarchy
• Need Family: e.g. travelling (going from One
place to another)
• Product Family: e.g. vehicle – cars, bikes,
scooters
• Product Class: e.g. TATA vehicles
• Product Line: e.g. TATA cars
• Product Type: SUVs
• Item or SKU (Stock Keeping Units): Rang
Rover (with model no. and all specifications)
11. Product Mix
• Product mix of an organization contains three
elements:
Product width: it is the total no. of product
lines (categories) of an organization.
Product Depth: it is the no. of products in a
particular product line
Product length: it is the total no. of products
manufactured by the company.
13. Product Mix Strategies
The following strategies can be employed
depending on the stage of the product life
cycle.
Adding a product to a product line
Removing a product from a product line
Adding a product line to the organization
Removing a product line from the organization
Acquiring another company or organization
14. Packaging Vs Labelling
PACKAGING
• Basic purpose of packaging
is protection
• Packaging has to be
removed before product is
used
• Packaging makes the
product look attractive
LABELLING
• Basic purpose of labelling is
to convey information
• Product can be used while
label is intact
• Labelling contains
information regarding
product manufacturing,
ingredients, expiry etc
15. New Product
Development Process
• The steps involved in
New Product
Development (NPD)
are mentioned as:
Idea Generation
Idea Screening
Concept Testing
Business Analysis
Product Development
Test Marketing
Commercialization
Monitoring
16. New Product
Development Process
• The Process of New Product Development
involves 8 major steps
• The first four steps are taken before product
development – these are idea generation (through
brainstorming), idea screening, concept testing
and business analysis
• The next four steps involve product development,
test marketing, commercialization and review.
• In test marketing, the product is given to a small
group of consumers and feedback is taken from
them regarding its features and quality
17. Why New Products fail
• The following are the few important reasons for
new products to fail in the market:
Lack of awareness among the customers due to
lack of promotion
Poor Quality of product
Low perceived value for the customers
Failure to understand customer’s needs
Poor product/market fit (timing of launch is poor)
18. Production Adoption Process
• The five steps process is mentioned below:
Product Awareness
Product Interest
Product Evaluation
Product Trial
Product Adoption
19. Diffusion of Innovation
An innovation can be defined as something unique that get
launched in the market. According to the theory of Diffusion of
innovation, an innovation is adopted in the market in a manner
as shown in the graph below:
20. Diffusion of Innovation
• Theory of diffusion of innovation was given by
M. Rogers. In 1960s
• According to the theory, it takes time for any
innovation to get diffused in the market
• An innovation is first adopted by initiators, who
are eager to buy new products, this is followed by
early adopters, early majority and late majority
• The laggards are the last ones who adopt the
product, maybe after getting pushed by others to
use the product
21. Product Life Cycle (PLC)
The four stages of Product Life Cycle (PLC) are
shown below
22. Product Life Cycle (PLC)
• In the introduction stage: Consumers are less
aware of the product hence sale is low,
advertizing expenditures are high in this stage.
Profitability is low or even zero in this stage
• In the growth stage: Advertizing expenditure
are still considerable but because consumers
become aware of the product, the sale
increases bringing profitability
23. Product Life Cycle (PLC)
• In the maturity stage: in this stage the advertizing
expenditure is low because customers are well
aware of the brand, the product becomes well
established in the market and profitability is high
• In the decline stage: due to various reasons such
as a better product, change in technology etc the
sale declines, at this stage the organization can
either innovate and reintroduce the product or
shut down the business and leave the market