2. MODULE - 4 3. PRODUCT PLANNING AND DEVLOPMENT 4. PRODUCT A product is any thing that can be offered to a market to satisfy a want or need. Products that are marketed include physicals goods [automobiles, books ], servies[haircuts,concerts],persons[Michael Jordan, barbar Streisand], places[Hawaii Venice],organizations [RBI,HAL,HLL,] and ideas[family planning, safe driving] The product is the important element in the market offerings , marketing mix, planning begins with formulating on offering to meet target customers needs or wants. The customers will judge the offering by three basic elements such as product features , quality and servies. 5. LEVELS OF PRODUCT
6. PRODUCT CONCEPT
7. NEW PRODUCT DEVELOPMENT PROCESS
8. PRODUCT LIFE CYCLE Introduction Growth Stage Maturity Stage Saturation Stage Decline Stage Sales are In.. Profit is less Massive Ads and promotion activity Weakness many promptly removed Rising sales at increase rate Profit increase Continuous Ads & Sales promotion Company top priority is to increase sales volume 1 Rising sales at decreasing rate Reduce profit Competition through ads & sales promotion Companys priority is over all market effectiveness Stables sales volume Profit margin may fall Maintain market shares Price is primary weapon Stop production & diversity Stop giving ads and sales promotion Watch word of management Innovate or Die Product becomes obsolete 9. PRODUCT MIX Definition Width Length Depth Consistency A set of all products and items offers for sale by company in to market. Ex: TATA Oil, cosmetic, transport, tea, textiles A product mix refers to how many different products line the company carries. EX:P&Gs products hair care products, health care products etc. A product mix refers to total of items in the mix. A product mix refers to how many variants are offered of each product in the line. A product mix refers to how closely relate in various product line. 10. PRODUCT MIX STRATEGY Expansion P.M . Contraction P.M. Alteration P.M . Trading Up& Down Product Differentiation and Market segmentation Increase the number of product line Increase new product in a product line of co. Ex.: Raymonds Blazers, Ties, Shirts, etc. Eliminating an entire product line Eliminating a product from product line Ex.: Alwyn, Hero Honda Design (Qty, Quality and Composition) Usage Operation Purpose: To yield more profit and less risk then developing a completely new product Trading up adding higher price prestige product to lower product Increasing sales of lower product Trading Down: -Adding a lower product in higher price prestige capture every segment of market.
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BRAND 12. BRAND ATTRIBUTES BENIFITS VALUES CULTURE PERSONALITY USER 13. BRANDINGS MAIN TASK
14. TYPES OF BRANDS
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19. BRAND EXTENSION
20. BRAND EXTENSION
21. PACKAGING
22. NEEDS & IMPORTANT
23. TYPES OF PACKAGING
24. LABILLING
25. TYPES OF LABELS
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27. QUERIES...????
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