Based on the "Setting Product Strategy" chapter from Marketing Management: A South Asian Perspective

1. Setting Product Strategy
What are the characteristics of the product
and how do marketers classify products?
Presentation by
Divyasree P K
IIT Madras

2. PRODUCTPRODUCT
N. Market offering to satisfy a need or want

3. Physical goods

4. Product need NOT
be tangible always

5. Air Courier Service

6. Experience at Veega Land Amusement Park

7. Music concert

8. Product
CharacteristicsCharacteristics

9. Potential
feature
Augmented
feature
Expected featureExpected feature
Basic feature
Core feature

10. P
R
O
DD
U
C
T

11. C
o
r
Ease
and
comfortr
e
comfort
in kitchen
feature

12. B
A
S
I
Works on electricity
Simple design
Safe to useI
C
Safe to use
feature

13. E
x
p
e
c
Multiple jars and attachments
c
t
e
d feature

14. A
u
g
m
e
n
Unbreakable jar base
Fail proof coupler
5 year warranty on motor
n
t
e
d
5 year warranty on motor
feature

15. POTENTIAL
In2020
feature
In2020

16. Product
ClassificationClassification

17. Based on
DuraBILITYDuraBILITY
Tangibility

18. Tangible
Non durableNon durable

19. Tangible
DurableDurable

20. Not tangibleNot tangible

21. Of
ConsumerConsumer
Goods

22. Convenience Goods1
Frequently purchased
with
minimum effort

23. Convenience Goods1
Staples Emergency goods Impulse goods

24. Shopping Goods2
Purchased
after
evaluation ofevaluation of
style, price,
suitability
and quality

25. Speciality Goods3
With unique brand identification and value

26. Unsought Goods4
Smoke detectors
InsuranceInsurance
Are normally bought on seller’s initiative

27. Of
inDustrialinDustrial
goods

28. Materials & Parts1
Fruits
Vegetables
Wheat
PetroleumPetroleum
Iron ore
Iron
Yarn
Motors
Tyres

29. Capital Items2
Installations like buildings
Equipments like tools
thatthat
the development of finished product
Aid

30. Supplies and Business Services3
Writing paper
Pen
Paint
Nail
Broom
Legal
Management consulting
Advertising
Cleaning on contract basis
Pen
Lubricant