KTU MArketing 3rd Module

1. MARKETING MANAGEMENT
(20MBA102)
MBA
SEMESTER 2

2. MODULE - 3
Product and Service Continuum
New Product Development and PLC Stages
Pricing Strategies
PRODUCT DECISIONS AND PRICING DECISIONS

5. CLASSIFICATION OF PRODUCTS
Conventional

9. 4 DIMENSIONS OF THE PRODUCT MIX

12. PRODUCT BRANDING
Product branding is a strategy that defines a unique set of
marketing elements to differentiate a given product. It is an
activity that defines the way the product’s image is
communicated to its customers.
Promote the idea behind the product through logos, images,
designs, colors and many other marketing resources to place
the product in the customer’s mind.
Also cases where items are unbranded, as is the case
for generic products where brands are not
necessarily important for the customer.

13. SERVICES MARKETING
A phenomenon wherein a service or an intangible
commodity is promoted and marketed among the target
audience.
INSEPARABLY
INTERESTING
INTANGIBLE
PERFORMANCE
NO
OWNERSHIP
INVOLVED
PERISHABLE
PRODUCTS
COST OF
CONSUMPTION
FEATURES OF
SERVICE
MARKETING

14. TYPES OF SERICES MARKETING
SERICES
MARKETING
1.External
Service
Marketing
1.Internal
Service
Marketing
1.Interactive
Service
Marketing
EXTENDED MARKETING MIX

15. PACKAGING & LABELLING
PACKAGING refers to the process of designing and developing a suitable
package for enclosing and holding the product so that it can be easily covered
and secured.
In contrast,
LABELING refers to the text, design, symbol, logo, instructions and suggestions
for usage etc.

16. The various activities that are carried out for designing
and developing a suitable package for a product, which may be
in the form of a container, wrapper, box, tube, plastic bottle,
tetra pack or tin etc. It protect the product from contamination,
leakage, evaporation, spoilage or damage during its storage,
transportation and promotional activities.
PACKAGING & LABELLING
 Establishes the identity of the product and the manufacturing entity
with which it is associated.
 A means of advertisement and promotion by creating brand
identity and awareness.
LABELING is done on the product packaging and presents all important
information about the product and its manufacturer. It is often made part
of the product package but, if necessary, the information can also be
printed on the product itself.

17. MEANING
An art of developing an appropriate
package for wrapping or enclosing
the product to keep it safe from
contamination and damage and to
facilitate its storage, transportation
and usage.
Educating customers to help them
in making a buying decision. In
addition, it is done to fulfill legal
requirements.
OBJECTIVE
Store, protect, preserve the product
and create brand identity
Communicate with customers
FOCUS
Product presentation Product description
DESIGN
Innovative and attractive Simple and formal
DIFFERENCE BETWEEN PACKAGING AND LABELLING

18. WARRANTIES & GUARANTEES
GUARANTEE is the promise for the after-sales
performance of the product or service. It expresses that the
manufacturer has given promise regarding the content,
quality or performance of the product and in case, the
obligation is not fulfilled then the manufacturer will replace or
repair the product or the money paid as consideration will be
refunded.
WARRANTY is an assurance given by the manufacturer
or seller to the buyer that the specified facts about the
product are true. It is a collateral condition to the main
objective of the contract. It specifies that the particular
product is up to the standard, i.e. quality, fitness and
performance. It applies to tangible objects like machines,
electronic equipment etc.
EXPRESSED IMPLIED

19. BASIS FOR
COMPARISON
GUARANTEE WARRANTY
Meaning
The guarantee serves as a
promise made by the
manufacturer, to the buyer, that
in case the product below
quality, it will be repaired,
replaced or the money
deposited will be refunded.
Warranty is a written
assurance that the
facts specified in the
product is true and
genuine, but if they are
not it will be repaired or
replaced.
What is it? Commitment Assurance
Applicable to Product, service and persons. Product only.
Condition of sale
May or may not be a condition
of sale
Subsidiary condition of
sale, which may be
expressed or implied.
Validity It can either be oral or written.
It is generally written
and so it is easy to
prove.
Cost Free of cost
The buyer has to pay
for warranty.
Term Varies from item to item Long term
Money back (in
case of default)
Yes No

20. NEW MARKET OFFERING
New product to existing and new potential Customers
…..Existing products to New customers

21. TYPES OF NEW PRODUCT

23. NEW PRODUCTS SUCCESS AND FAILURE
PRODUCT SUCCESS is highly connected with what
the consumers make of your product, think of your product, how they react to
your product. A successful product will have no problem surviving in the market,
and it will bring positive feedback from the consumers.
PRODUCT FAILURE can be defined as an inability to persist in the
market due to various reasons. Product failures occur when a new product fails to
gain sufficient demand and creates a negative first impression, thus gets negative
feedback from early users.
WHY DO NEW PRODUCTS FAIL?
 Lack of Product Originality
 Inefficient Timing
 Poor Planning & Poor
Execution of Marketing Plan
 Product Flaws
 Wrong Market Research
 Incorrect Pricing
 Weak Launch

24. DIFFUSION OF INNOVATION
The DIFFUSION OF INNOVATIONS THEORY describes the pattern and speed
at which new ideas, practices, or products spread through a population. The main
players in the theory are innovators, early adopters, early majority, late majority,
and laggards.
Explain how, why, and at what rate new ideas and technology spread.

25. STAGES OF DIFFUSION OF INNOVATION
Introduction
Diffusion
Diffusion with benefits
Diffusion with costs

27. QUANTITY OF MONEY RECEIVED BY THE SELLER
QUANTITY OF GOODS AND SERVICES RENDERED/RECEIVED BY THE BUYER
PRICE=

28. FACTORS AFFECTING PRICING DECISIONS

30. PRICING METHODS

31. PRICE
ADAPTING
POLICIES

34. RESPONDING TO PRICE CHANGES

36. ASSIGNMENTS
SEMINAR TOPICS
GG - 1
GG - 2
GG - 3
GG - 4
1.

37. END OF 3rd MODULE