What Is Product
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The document discusses different types of products that are marketed. It outlines 5 basic levels of products with increasing customer value: the core benefit, formal/expected product, augmented product, potential/future product. It then describes different categories of consumer products - convenience products, shopping products, specialty products, and unsought products. It also outlines categories of industrial products - materials and parts, capital items, and supplies and services. Overall, the document provides an overview of the different levels and categories of products that companies develop and market to customers.
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Product ppt(1)
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.
Classification of Products
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.
Product.ppt
A product is defined as a bundle of attributes that have the potential to satisfy customer wants in the form of goods and services. There are different categories of products including product classes like washing powder, product forms like granulated, and product brands like Persil. Consumer products are classified as convenience products, shopping products, specialty products, or unsought products based on buyer behavior. Convenience products are most frequently and routinely purchased with minimal interest in comparisons while shopping products involve more focus on quality or price comparisons. Specialty products have strong brand conviction and loyalty. Unsought products include existing products that are no longer wanted or totally new, unfamiliar products. A product consists of potential, augmented, expected, core benefit, and basic components.
What is product?
In marketing, a product is anything that can be offered to a market that might satisfy a want or need. In retail, products are called merchandise. In manufacturing, products are purchased as raw materials and sold as finished goods. Commodities are usually raw materials such as metals and agricultural products, but the term can also refer to anything widely available in the open market. In project management, products are the formal definition of the project deliverables that form the objectives of the project.
Product
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.
Product line
The document discusses key concepts related to product management including product support services, social responsibility, product line and mix decisions, branding, packaging, positioning, and the product life cycle. It also defines service marketing and discusses strategies for marketing services. New product development involves identifying market needs, establishing timelines, and following steps such as idea generation and commercialization. The main stages of the product life cycle are introduction, growth, maturity, and decline.
Product-Layers Features & Classification
Product-Definition
A product may be regarded from the marketing point of view as a bundle of benefits which are being offered to consumer.”
Layers of product
Product-Features
Explicit Characteristics:
Physical configuration:
Associated services:
Package and brand name:
Product mix:
. Product-life-cycle:
Implicit Characteristics
Product perception & Evaluation
Market segmentation and targeting
The document discusses market segmentation and targeting. It defines the market and various concepts of markets, including place, commodity, demand, exchange, and space concepts. It also covers features and types of markets based on geographical area, business volume, competition, control, delivery, and nature of products. The objectives of market segmentation are identified as identification of market opportunities, optimum utilization of resources, and evaluation of competitors. Finally, the document discusses bases for segmentation in consumer markets, including geographic, demographic, psychographic, and behavioral segmentation variables.
Recommended
Product ppt(1)
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.
Classification of Products
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.
Product.ppt
A product is defined as a bundle of attributes that have the potential to satisfy customer wants in the form of goods and services. There are different categories of products including product classes like washing powder, product forms like granulated, and product brands like Persil. Consumer products are classified as convenience products, shopping products, specialty products, or unsought products based on buyer behavior. Convenience products are most frequently and routinely purchased with minimal interest in comparisons while shopping products involve more focus on quality or price comparisons. Specialty products have strong brand conviction and loyalty. Unsought products include existing products that are no longer wanted or totally new, unfamiliar products. A product consists of potential, augmented, expected, core benefit, and basic components.
What is product?
In marketing, a product is anything that can be offered to a market that might satisfy a want or need. In retail, products are called merchandise. In manufacturing, products are purchased as raw materials and sold as finished goods. Commodities are usually raw materials such as metals and agricultural products, but the term can also refer to anything widely available in the open market. In project management, products are the formal definition of the project deliverables that form the objectives of the project.
Product
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.
Product line
The document discusses key concepts related to product management including product support services, social responsibility, product line and mix decisions, branding, packaging, positioning, and the product life cycle. It also defines service marketing and discusses strategies for marketing services. New product development involves identifying market needs, establishing timelines, and following steps such as idea generation and commercialization. The main stages of the product life cycle are introduction, growth, maturity, and decline.
Product-Layers Features & Classification
Product-Definition
A product may be regarded from the marketing point of view as a bundle of benefits which are being offered to consumer.”
Layers of product
Product-Features
Explicit Characteristics:
Physical configuration:
Associated services:
Package and brand name:
Product mix:
. Product-life-cycle:
Implicit Characteristics
Product perception & Evaluation
Market segmentation and targeting
The document discusses market segmentation and targeting. It defines the market and various concepts of markets, including place, commodity, demand, exchange, and space concepts. It also covers features and types of markets based on geographical area, business volume, competition, control, delivery, and nature of products. The objectives of market segmentation are identified as identification of market opportunities, optimum utilization of resources, and evaluation of competitors. Finally, the document discusses bases for segmentation in consumer markets, including geographic, demographic, psychographic, and behavioral segmentation variables.
Levels of product Offering.
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.
Product mix
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.
Product And Product Lines 8
1. The document discusses various aspects of product planning and management, including product classification, product life cycles, and strategies for different stages of the life cycle.
2. It describes core and augmented product features, and different types of products including generic, expected, potential, consumer, and industrial products.
3. The document also covers product mix strategies, managing product lines, and discusses whether companies should focus more on designing long-lasting products that meet consistent human needs rather than frequent new launches.
Classification of industrial products and services
The document classifies and defines industrial products and services. It divides them into three categories: materials and parts which go directly into production; capital items like equipment and machinery used in production; and services and supplies which support business operations. It provides examples of items that fall into each category, such as raw materials, manufactured goods, component parts, and maintenance services. Finally, it gives an example of the types of industrial products and services an automobile company may purchase.
Product line decisions & Product Life Cycle
Includes Product line decisions along with their relative importance. The concept of product life cycle is also depicted using apt examples.
Classification of industrial product
Industrial products and services are classified into three broad groups: (1) materials and parts that directly enter the production process, including raw materials, manufactured items, and component parts; (2) capital items used in production, such as light equipment, installations or heavy equipment, and plant and buildings; and (3) supplies and services that support operations, like operating supplies and services for legal needs, auditing, advertising, and marketing research.
Pricing decision
Price is the sum of all the values that customers give up to gain the benefits of having or using a product or service
Product And Its Classifications
There are several types of product classifications. Products can be classified based on how frequently they are purchased, such as convenience goods which are bought routinely, shopping goods which require more consideration, and unsought goods which people feel forced to buy. Products are also classified based on whether they are consumer goods or services. Consumer goods are further broken down into convenience goods, shopping goods, specialty goods, and unsought goods. Manufacturers must choose appropriate distribution strategies and channels based on the type of product.
Market segmentation
Market segmentation involves dividing a heterogeneous market into homogeneous subgroups. It is based on the recognition that markets contain different customer groups with distinct needs, characteristics and behaviors. The key objectives of market segmentation are to identify specific customer segments, understand their unique needs and develop tailored marketing strategies for each segment. Common approaches to segmentation include mass marketing, product differentiation and target marketing. Markets can be segmented based on geographic, demographic, psychographic and behavioral factors. The main benefits of effective segmentation include better understanding customer needs, more efficient resource allocation and increased sales and profits.
Analyzing Business Market
This document summarizes key aspects of business-to-business marketing and the organizational buying process. It defines business markets and how they differ from consumer markets. It describes the different participants in the organizational buying center and the stages in the buying process. Finally, it discusses strategies for building strong relationships with business customers, including managing risks and opportunities, and approaches for marketing to institutional and government buyers.
Product & Pricing Strategies
This presentation helps the beginner to build insight about the 2P's (Price & Product) out of the 4 Marketing P's (which are Product, Price, Place, & Promotion)
Product life cycle
The product life cycle outlines the typical stages a product goes through from introduction to decline. It includes introduction, growth, maturity, and decline. During introduction, sales are low and costs are high to create awareness. Growth sees increasing sales and profits as the product gains acceptance. Maturity is the most profitable stage as sales peak. In decline, sales decrease as the product becomes outdated. Businesses can extend the cycle through advertising, price reductions, new features, exploring new markets, and packaging updates. The model helps marketers strategize but products don't always follow predictable cycles.
Industrial buying decision process
The industrial buying decision process involves 8 stages: 1) Recognition of a problem or need within the company, 2) Description of the characteristics and quantity needed to address the problem, 3) Development of technical specifications for the product, 4) Search for qualified suppliers, 5) Solicitation of proposals from suppliers, 6) Selection of suppliers based on an evaluation of proposals, 7) Negotiation of final order details, and 8) Performance review of the product and supplier. Multiple decision makers are typically involved at each stage as the company works to identify, specify, source, and select products and services to meet its needs.
Product concept, level , classification, mix and product life cycle and its m...
This Presentation Discuss the first P of Marketing i.e Product. The topic covered are Product concept, level , classification, mix and product life cycle and its management.
Pricing of services
This document discusses pricing strategies for services. It outlines three key differences in how consumers understand service prices compared to product prices. Namely, service prices are more difficult for customers to know due to variability, individual needs, and non-visible nature. The role of non-monetary costs like time and uncertainty are also examined. Various approaches to determining service prices are then reviewed, including cost-based pricing, competition-based pricing, and demand-based pricing oriented around customer perceptions of value. Specific pricing techniques within each approach are defined.
Classification Of Product
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.
New Product failures
This document discusses reasons why new products fail and provides a framework to increase success rates. It defines new products and outlines the new product development process. Common reasons for failure include the product not being new to customers, lacking benefits, poor positioning, and inadequate return on investment. The proposed OEEM framework emphasizes organizational excellence, execution skills, consideration of external factors, and effective marketing mix strategy to reduce failure rates.
Product descision
This document discusses various levels of product decisions including product classification, consumer and industrial product types, branding strategies, packaging, new product development process, and product life cycle. It provides details on the three levels of a product - the actual product, the product line, and the product assortment. It also explains the eight stages of new product development from idea generation to commercialization and the five stages of a product's life cycle from development to decline.
Product classification
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.
Product and brand management ppt
This document discusses various concepts related to products and product management. It begins by defining what a product is and categorizing products as tangible or intangible goods and services. It then discusses key product attributes and classifications such as consumer versus business products, durable versus non-durable goods, and convenience, shopping, specialty and unsought products. The document also covers topics like a company's product mix, width, length and depth. It discusses factors that influence changes to a product mix and outlines the new product development process in 7 steps. Finally, it provides an overview of a product's life cycle stages from development through decline and the associated marketing objectives and strategies at each stage.
Product
There are 5 levels of a product:
1. Core product - the basic benefit or service sought by consumers
2. Basic product - the core benefit turned into an unbranded, basic product
3. Expected product - includes brand, features, packaging, and attributes expected by consumers
4. Augmented product - exceeds consumer expectations by adding extra services and benefits
5. Potential product - possible future improvements and innovations under technological and market conditions.
Setting Product Strategy / Marketing Management By kotler Keller
This document discusses marketing management tasks and product characteristics including product classifications and differentiation. It provides details on five levels of a market offering including the core benefit, basic product, expected product, augmented product, and potential product. It also describes how products are classified based on durability, tangibility, use for consumers or industrial purposes. Lastly, it outlines various ways products and services can be differentiated such as through form, features, customization, quality levels, style, and services.
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Levels of product Offering.
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.
Product mix
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.
Product And Product Lines 8
1. The document discusses various aspects of product planning and management, including product classification, product life cycles, and strategies for different stages of the life cycle.
2. It describes core and augmented product features, and different types of products including generic, expected, potential, consumer, and industrial products.
3. The document also covers product mix strategies, managing product lines, and discusses whether companies should focus more on designing long-lasting products that meet consistent human needs rather than frequent new launches.
Classification of industrial products and services
The document classifies and defines industrial products and services. It divides them into three categories: materials and parts which go directly into production; capital items like equipment and machinery used in production; and services and supplies which support business operations. It provides examples of items that fall into each category, such as raw materials, manufactured goods, component parts, and maintenance services. Finally, it gives an example of the types of industrial products and services an automobile company may purchase.
Product line decisions & Product Life Cycle
Includes Product line decisions along with their relative importance. The concept of product life cycle is also depicted using apt examples.
Classification of industrial product
Industrial products and services are classified into three broad groups: (1) materials and parts that directly enter the production process, including raw materials, manufactured items, and component parts; (2) capital items used in production, such as light equipment, installations or heavy equipment, and plant and buildings; and (3) supplies and services that support operations, like operating supplies and services for legal needs, auditing, advertising, and marketing research.
Pricing decision
Price is the sum of all the values that customers give up to gain the benefits of having or using a product or service
Product And Its Classifications
There are several types of product classifications. Products can be classified based on how frequently they are purchased, such as convenience goods which are bought routinely, shopping goods which require more consideration, and unsought goods which people feel forced to buy. Products are also classified based on whether they are consumer goods or services. Consumer goods are further broken down into convenience goods, shopping goods, specialty goods, and unsought goods. Manufacturers must choose appropriate distribution strategies and channels based on the type of product.
Market segmentation
Market segmentation involves dividing a heterogeneous market into homogeneous subgroups. It is based on the recognition that markets contain different customer groups with distinct needs, characteristics and behaviors. The key objectives of market segmentation are to identify specific customer segments, understand their unique needs and develop tailored marketing strategies for each segment. Common approaches to segmentation include mass marketing, product differentiation and target marketing. Markets can be segmented based on geographic, demographic, psychographic and behavioral factors. The main benefits of effective segmentation include better understanding customer needs, more efficient resource allocation and increased sales and profits.
Analyzing Business Market
This document summarizes key aspects of business-to-business marketing and the organizational buying process. It defines business markets and how they differ from consumer markets. It describes the different participants in the organizational buying center and the stages in the buying process. Finally, it discusses strategies for building strong relationships with business customers, including managing risks and opportunities, and approaches for marketing to institutional and government buyers.
Product & Pricing Strategies
This presentation helps the beginner to build insight about the 2P's (Price & Product) out of the 4 Marketing P's (which are Product, Price, Place, & Promotion)
Product life cycle
The product life cycle outlines the typical stages a product goes through from introduction to decline. It includes introduction, growth, maturity, and decline. During introduction, sales are low and costs are high to create awareness. Growth sees increasing sales and profits as the product gains acceptance. Maturity is the most profitable stage as sales peak. In decline, sales decrease as the product becomes outdated. Businesses can extend the cycle through advertising, price reductions, new features, exploring new markets, and packaging updates. The model helps marketers strategize but products don't always follow predictable cycles.
Industrial buying decision process
The industrial buying decision process involves 8 stages: 1) Recognition of a problem or need within the company, 2) Description of the characteristics and quantity needed to address the problem, 3) Development of technical specifications for the product, 4) Search for qualified suppliers, 5) Solicitation of proposals from suppliers, 6) Selection of suppliers based on an evaluation of proposals, 7) Negotiation of final order details, and 8) Performance review of the product and supplier. Multiple decision makers are typically involved at each stage as the company works to identify, specify, source, and select products and services to meet its needs.
Product concept, level , classification, mix and product life cycle and its m...
This Presentation Discuss the first P of Marketing i.e Product. The topic covered are Product concept, level , classification, mix and product life cycle and its management.
Pricing of services
This document discusses pricing strategies for services. It outlines three key differences in how consumers understand service prices compared to product prices. Namely, service prices are more difficult for customers to know due to variability, individual needs, and non-visible nature. The role of non-monetary costs like time and uncertainty are also examined. Various approaches to determining service prices are then reviewed, including cost-based pricing, competition-based pricing, and demand-based pricing oriented around customer perceptions of value. Specific pricing techniques within each approach are defined.
Classification Of Product
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.
New Product failures
This document discusses reasons why new products fail and provides a framework to increase success rates. It defines new products and outlines the new product development process. Common reasons for failure include the product not being new to customers, lacking benefits, poor positioning, and inadequate return on investment. The proposed OEEM framework emphasizes organizational excellence, execution skills, consideration of external factors, and effective marketing mix strategy to reduce failure rates.
Product descision
This document discusses various levels of product decisions including product classification, consumer and industrial product types, branding strategies, packaging, new product development process, and product life cycle. It provides details on the three levels of a product - the actual product, the product line, and the product assortment. It also explains the eight stages of new product development from idea generation to commercialization and the five stages of a product's life cycle from development to decline.
Product classification
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.
Product and brand management ppt
This document discusses various concepts related to products and product management. It begins by defining what a product is and categorizing products as tangible or intangible goods and services. It then discusses key product attributes and classifications such as consumer versus business products, durable versus non-durable goods, and convenience, shopping, specialty and unsought products. The document also covers topics like a company's product mix, width, length and depth. It discusses factors that influence changes to a product mix and outlines the new product development process in 7 steps. Finally, it provides an overview of a product's life cycle stages from development through decline and the associated marketing objectives and strategies at each stage.
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Product
There are 5 levels of a product:
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2. Basic product - the core benefit turned into an unbranded, basic product
3. Expected product - includes brand, features, packaging, and attributes expected by consumers
4. Augmented product - exceeds consumer expectations by adding extra services and benefits
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This document provides an overview of business marketing. It begins by defining business marketing as the marketing of products and services to business organizations, as opposed to consumer marketing which is the marketing of products and services to individuals. It then discusses the nature of business markets, identifying the main components as commercial markets, trade industries, government, and public and private institutions. The document also differentiates between business-to-business (B2B) and business-to-consumer (B2C) markets using Dell as an example. Finally, it briefly discusses differences that may exist in foreign business markets.
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The document discusses different types of brands including individual product brands, service brands, organization brands, personal brands, group brands, event brands, geographic place brands, and private label brands. It also covers the branding process which includes 5 phases: brand strategy, brand identity, brand tools, brand launch, and brand building. The importance of branding is that it gets recognition for a company, increases business value, generates new customers, improves employee pride and satisfaction, and creates trust in the marketplace.
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What Is Product
- 2. PRODUCT
- 3. physical goods Services Experience Events Persons places Properties Organizations Information Ideas Products that are marketed include
- 4. • 5 Basic levels • Each level adds more customer value
- 6. • At this level, the core benefit is turned into a basic product • Basic step in designing products • Unbranded, plainly packaged, expensive
- 7. • Expected/Formal/Tangible product • Represents basic requirements, a customer finds essential to buy a product • Attributes & conditions required by the customers • Identified build into products • Includes brand,name,features,design,packaging and quality level,styling,attributes,instructions manual • As interfirm rivalry intensifies, differentiation on basis of formal product ceases (ceiling fans) • Marketer searches for a possible differentiation e.g. Sony camcorder ( name, parts, styling, features, packaging – deliver core benefit- convenient, high quality way to capture important moments)
- 8. • Marketer prepares an augmented product that exceeds customer expectations. • Intangible component of the product along with formal & core components • Product built by adding consumer services & benefits
- 9. • Product augmentation leads the marketer to look at the user’s total consumption system. • Attributes extended beyond customer expectations, includes 1. After sales services 2. Delivery points & systems 3. Installation ( bulky products) 4. Customer education & training 5. Customer complaint management 6. Payment options (high end products) 7. Replacement/return policy 8. Guarantees/ warranties 9. Toll free number, etc.
- 10. • These are added intangibles looked for when technology fails to differentiate • Future competition will be in the “Augmented Products” • Service component is expanded that enhances the product value • No fixed range of services, based on customer needs • Some may not be able to use extra services • Augmented product is a condition of mkt maturity/of relatively experienced/ sophisticated customers
- 11. • Potential/Future product Includes all possible improvements under given technological, economical, competitive conditions Helps to attract & retain customers These offerings differ from 1 market to another because of varying competitive conditions Driving force- to retain competitive advantage.
- 12. 1. Consumer Products Convenience products Shopping Product Specialty Product Unsought Product Industrial Products 2. Industrial Products Materials & parts Capital items Supplies and Services
- 13. Consumer Products: • Bought by final consumers for personal consumption • Categorized as…
- 14. Convenience products • Bought frequently, immediately with minimum comparison and buying effort. • Are low priced • Available in many locations e.g. Soap, candy, newspapers, fast food
- 15. Shopping Product • Characteristically compared on the basis of suitability, quality, price and style while selection and purchase. • Distributed through fewer outlets • e.g. Furniture, clothing, used cars, major appliances, hotel and airline services.
- 16. Specialty Product • Has unique characteristics or brand identification for which a significant group of buyer is willing to make a special purchase effort • People travel even long distances to buy them (Lamborghini) • No comparison is involved in buying. • e.g. Specific brands, types of cars, high priced photographic equipment's, designer clothes, services of medical/ legal specialists
- 17. Unsought Product • Consumer either does not know about/ knows about but does not normally think of buying it. • Require a lot of advertising, personal selling and marketing efforts. e.g. Life insurance, pre planned funeral services and blood donations
- 18. 2. Industrial Products: • Distinguished from consumer products on the basis of usage e.g. A lawn mower.
- 19. Materials & parts i. Raw materials & parts: Farm products, (wheat, cotton, livestock, fruits, vegetables) Natural products (fish, lumber, crude oils, iron ore) ii. Manufactured materials & parts: Component materials (iron yarn, cement, wires) Component parts ( small motors, tires, castings)
- 20. Capital items Aid in buyer’s production or operations i. Installations: Major purchases (factories, offices) fixed equipment ( generators, elevators, computer systems) ii. Accessory equipment's: Portable factory equipment's and tools (hand tools, lift trucks) Office equipment's ( computers, fax machines, desks)
- 21. Supplies and Services: Are convenience products i. Supplies Operating supplies (Lubricants, coal, paper, pencil) Repair and maintenance (paint, nails, brooms) ii. Services Maintenance and repair services (window clearing, computer repair) Business advisory services (legal, management, consulting, advertising)