Chapter Nine Goods & Services: The Basics. Objectives bDefine product bLearn to classify products...
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Transcript of Chapter Nine Goods & Services: The Basics. Objectives bDefine product bLearn to classify products...
![Page 1: Chapter Nine Goods & Services: The Basics. Objectives bDefine product bLearn to classify products bUnderstand differences between product lines & product.](https://reader035.fdocuments.in/reader035/viewer/2022070404/56649f385503460f94c54732/html5/thumbnails/1.jpg)
Chapter NineChapter Nine
Goods & Services: The BasicsGoods & Services: The Basics
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ObjectivesObjectives
Define productLearn to classify productsUnderstand differences between product lines & product mixes
Review brand-related terminology
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What is a Product?What is a Product?
Primary characteristicsThe total product
Auxiliary dimensions
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AugmentedAugmentedproductproduct AUXILIARYAUXILIARY
CHARACTERISTICSCHARACTERISTICS
Core & Augmented Core & Augmented ProductProduct
PrimaryPrimaryCharacteristicsCharacteristics
CoreCoreproductproduct
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Product Strategy & Product Strategy & Product ConceptProduct Concept
Selection and blending of a product’s primary and auxiliary dimensions into a unified mix emphasizing a particular
set of consumer benefits
Selection and blending of a product’s primary and auxiliary dimensions into a unified mix emphasizing a particular
set of consumer benefits
ConsumerConsumerBenefitsBenefits
ConsumerConsumerBenefitsBenefits
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Product DifferentiationProduct Differentiation
Product elements (tangible or intangible) separating your product from others
Colored paperclips that don’t rust
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Classifying Consumer Classifying Consumer ProductsProducts
ServicesServices
Nondurable Nondurable goodsgoods
Durable Durable goodsgoods
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Classifying Consumer Classifying Consumer ProductsProducts
ConvenienceProducts Shopping
Products
SpecialtyProducts
Effort expended
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Goods-Services Goods-Services ContinuumContinuum
Good/serviceGood/service
Restaurant’sRestaurant’sofferingoffering
GoodGood
TrowelTrowel
ServiceService
EmploymentEmploymentagency serviceagency service
Resume
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Classifying Classifying Organizational ProductsOrganizational Products
Capital products
InstallationAccessory equipment
Production
products
Raw & process materialManufactured/component parts
Operating
products
SuppliesServicesSoftwareInformation
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Product Lines & Product Product Lines & Product MixesMixes
Product item
Product line
Product class
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The Product PortfolioThe Product Portfolio
STARSTARPROBLEMPROBLEMCHILDCHILD
??
CASH COWCASH COWDOGDOG
HighHigh
LowLow
Mar
ket
gro
wth
rat
eM
arke
t g
row
th r
ate
HighHighLowLow
Market shareMarket share
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BrandingBranding
Brand/Logo Brand Names
Brand Marks
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Trademarks & Service Trademarks & Service MarksMarks
Trademarks: legally protected brand names or brand marksRegistered domestically
and internationally
®
®
®
® “Fly the Friendly Skies of United”
Service marks
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Generic NamesGeneric Names
Used to describe a product class
•Nylon
•Kerosene
•Escalator
•Formica
•Cellophane
These were all originally brand
names.
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Good Brand Names:Good Brand Names:
•Outward Bound•Palm computers•L’Eggs•Moist & Easy•Citgo•Toast Em Pop-Ups•Amazon
Easy to remember and pronouncemnemonic quality
Invokes positive associationSuggests a positive imageReinforces product conceptCommunicates product
benefitsSays something about the
userAvoids linguistic traps
Easy to remember and pronouncemnemonic quality
Invokes positive associationSuggests a positive imageReinforces product conceptCommunicates product
benefitsSays something about the
userAvoids linguistic traps
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Generic BrandsGeneric Brands
Carries neither a manufacturer nor a distributor brand
Plain packagingStark lettering
Carries neither a manufacturer nor a distributor brand
Plain packagingStark lettering
MILKMILK
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PackagingPackaging
An auxiliary product dimension including:
LabelsInsertsInstructionsGraphic designShipping cartonsSizes and types of containers
An auxiliary product dimension including:
LabelsInsertsInstructionsGraphic designShipping cartonsSizes and types of containers
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Package: Extension of Package: Extension of ProductProduct
AttentionIdentifiable imageProtectionPromotionEcological functionInformation & insertsEncourage multiple
unit purchases
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ReviewReview
Define productLearn to classify productsUnderstand differences between product lines & product mixes
Review brand-related terminology