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Setting Product Strategy Marketing Management, 13 th ed 12.

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Presentation on theme: "Setting Product Strategy Marketing Management, 13 th ed 12."— Presentation transcript:

1 Setting Product Strategy Marketing Management, 13 th ed 12

2 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 12-2 What is a Product? A product is anything that can be offered to a market to satisfy a want or need, including physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas.

3 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 12-3 Figure 12.1 Components of the Market Offering Attractiveness of the market offering Value-based prices Product features and quality Services mix and quality

4 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 12-4 Figure 12.2 Five Product Levels

5 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 12-5 Product Classification Schemes Durability Use Tangibility

6 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 12-6 Durability and Tangibility Nondurable goods Services Durable goods

7 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 12-7 Consumer Goods Classification Convenience Unsought Shopping Specialty

8 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 12-8 Product Differentiation Product form Features Customization Performance Conformance Durability Reliability Repairability Style

9 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 12-9 Service Differentiation Ordering ease Delivery Installation Customer training Customer consulting Maintenance and repair Returns

10 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Design Differentiation

11 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Maintenance and Repair

12 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Product Systems and Mixes Product system Product mix Product assortment Depth Length Width Consistency

13 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Product-Mix Width and Product-Line Length for Proctor& Gamble Products PRODUCT- LINE LENGTH Product-Mix Width DetergentsToothpaste Disposable Bar SoapDiapers Paper Tissue Ivory Snow (1930) Dreft (1933) Tide (1946) Cheer (1950) Gleem (1952) Crest (1955) Ivory (1879) Kirk’s (1885) Lava (1893) Camay (1926) Pampers (1961) Luvs (1976) Charmin (1928) Puffs (1960) Banner (1982) Summit (1992)

14 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Line Stretching Down-Market Stretch Up-Market Stretch Two-Way Stretch

15 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Two-Way Product-Line Stretch: Marriott Hotels Quality Economy Superior StandardGood Price High Above average Average Low Fairfield Inn (Vacationers) Courtyard (Salespeople) Marriott (Middle managers) Marriott Marquis (Top executives)

16 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Product Line Pricing

17 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall What is the Fifth P? Packaging, sometimes called the fifth P, is all the activities of designing and producing the container for a product.

18 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Factors Contributing to the Emphasis on Packaging Self-service Consumer affluence Company/brand image Innovation opportunity

19 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Packaging Objectives Identify the brand Convey descriptive and persuasive information Facilitate product transportation and protection Assist at-home storage Aid product consumption

20 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Functions of Labels Identifies Grades Describes Promotes

21 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Warranties and Guarantees


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