Marketing Product Overview Definition of product vs service
- Slides: 20
Marketing Product
Overview Definition of product vs. service l The importance of branding and packaging l Consumer and industrial products l Product mix and product line l Product differentiation l The stages of the product life cycle l
Marketing Mix: The “Four (5) P’s” roduct ricing lace romotion (Distribution) ackaging
What’s a Product? anything that can be offered to a market for attention, acquisition, use, or consumption and that might satisfy a want or need. Ø tangible or intangible Ø § § Good Service Event Idea (social marketing; recycling; public service ads) § Place (tourism) § Person (politicians, entertainers, athletes, lawyers) § Organization (profit & non-profit)
What’s a Service? Ø any activity/benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything. • Renting a hotel room • depositing $ in a bank • traveling on an airplane • getting a haircut • having car repaired • watching a professional sport • seeing a movie • having clothes cleaned at a dry cleaner • getting advice from a lawyer
Classifying Goods & Services Specialty Goods Shopping Goods Convenience Goods Consumer Markets Expense Items Capital Items Industrial Markets based on WHO will use them; HOW will be used
Consumer Products Based on HOW/WHERE consumers buy them
Industrial Products l l Consumed by businesses Expense Items – Consumed within 1 year – Include raw materials, parts, supplies – At SMC? • Capital Items: – Permanent (expensive) – Buildings, fixed equipment – At SMC? Classified according to COST and USE
Strategic Decisions What features are part of a product and differentiate it from another?
Packaging l Functional benefits – Convenience – Protection – Storage l Promotional/Communication benefits – Directions – Legal requirements or product disclosure l Perceptual Benefits – Color – Connote status, economy, quality
Product Line & Product Mix The total group of products or product lines offered by a company Product Line A group of closely related product items
Product Line & Product Mix
Product Line & Product Mix Product line (depth) Product Mix (width)
Product Differentiation by Branding • Brand Name • Trademark
Trade Characters Mr. Clean (Procter & Gamble) Quaker Oats Kellogg’s Aflac Geico
Types of Brands l National brands/Manufacturer’s Brand – Producers are identified with their products l Licensed brands – The manufacturer sells the license for the brand name or symbol to be put on accessories. l Private brands – Retailers or wholesalers selling products under their own private (= non-manufacturer) label
Product Differentiation l l Definition: “the creation of a product or product image that differs enough from existing products to attract customers” Standardized/homogeneous products Ø Example—fast food: juicier hamburgers, crispier fries
Product Life Cycle i. Pod Music CDs i. Phone Hydrogen car Analog cameras
Product Life Cycle Effect on sales and profits
Summary Products vs. Services l Classification l Strategic Decisions l Product Mix vs. Product Line l Branding l Packaging l The Product Life Cycle l
Product line depth
Prepare a service blueprint for 100 yen sushi
App service overview
Overview of integrated marketing communications
Introduction product overview
Introduction product overview
Introduction product overview
Introduction product overview
Service v model
Itil service lifecycle
Csi 7 step improvement process
Temporary service intensifiers
Soa architecture
Mpls class of service
Service owner vs service manager
Service improvement plan for service desk
Adpselfserviceportal
Shostack molecular model
Service marketing environment
Goods and services examples
Inverted services marketing triangle
