MARKETING MANAGEMENT Setting Product Strategy Kotler Keller Product

MARKETING MANAGEMENT Setting Product Strategy Kotler Keller

Product Anything that can be offered to a market to satisfy a want or need. 12 -2

Five Product Levels Core benefit (core benefit of a hotel is to provide somewhere to rest or sleep) n Basic product (bed, towels, a bathroom, a mirror, and a wardrobe) n Expected product (clean sheets, some clean towels, Wi-fi, and a clean bathroom) n Augmented product (free map of the town in every room. ) n Potential product (future transformations and additions) n 12 -3

Product Classification Schemes Durability n Tangibility n 12 -4

Durability and Tangibility Nondurable goods n Durable goods n Services n 12 -5

Consumer Products … end users. Durable & Non Durable Consumer Products Durable goods Services Non durable goods Short Time of consumption

Consumer Goods Classification Convenience n Shopping n Specialty n Unsought n 12 -7

Conceptual Model The Product Classification Sequence CONSUMPTION BEHAVIOR (Leads to) PRODUCT CLASSIFICATION Level of effort Level of reward Convenience Shopping Specialty (Which leads to) MARKETING MIX STRATEGY

Consumer Product Goods Classification Convenience Products Shopping Products Specialty Products Is based on Level of Effort expended . . To satisfy information needs & buying motives

Industrial Goods Classification Materials and parts (raw material + manufactured material-component material, component part)) n Capital items(Building , machine) n Supplies/business services n 12 -10

Product Differentiation n n n Product form Features Performance Durability Reliability Reparability n n n n Style Design Ordering ease Delivery Installation Customer training Customer consulting Maintenance 12 -11

Personal Care(product category) n Personal Wash Skin Care Hair Care Deodorants n Lux Lifebuoy Breeze Dove Fair & Lovely Pond’s Vaseline Sunsilk Clinic Clear n n n Axe Rexona 8 - 12

Food(Product category) n Tea Ice cream Food n Brook bond Lipton Wall’s Kissan Knorr n 8 - 13

Product Mixes Product mix n Depth n Length n Width n 12 -14

Line Stretching Down Market Stretch n Up-Market Stretch n Two-Way Stretch n 12 -15

Packaging: The 5 th P All the activities of designing and producing the container for a product. 12 -16

Packaging has been influenced by: Self-service n Consumer affluence n Company and brand image n Innovation opportunity n 12 -17

Functions of Labels Identifies n Grades n Describes n Promotes n 12 -18