12 Setting Product Strategy
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MARKETING MANAGEMENT 12 Setting Product Strategy
Chapter Questions
What are the characteristics of products and how can they be classified? How can companies differentiate products? How can a company build and manage its product mix and product lines? How can companies combine products to create strong co-brands or ingredient brands? How can companies use packaging, labeling, warranties, and guarantees as marketing tools? 12-2
Product
Anything that can be offered to a market to satisfy a want or need.
12-3
Figure 12.2 Five Product Levels Core benefit Basic product Expected product Augmented product Potential product
12-4
Product Classification Schemes Durability Tangibility Use
12-5
Durability and Tangibility Nondurable goods Durable goods Services
12-6
Consumer Goods Classification Convenience Shopping Specialty Unsought
12-7
Industrial Goods Classification Materials and parts Capital items Supplies/business services
12-8
Product Differentiation
Product form Features Performance Conformance Durability Reliability Reparability
Style Design Ordering ease Delivery Installation Customer training Customer consulting Maintenance 12-9
The Product Hierarchy Need family Product family Product class Product line Product type Item
12-10
Product Systems and Mixes Product system Product mix Product assortment Depth Length Width Consistency
12-11
Product Line Analysis Core product Staples Specialties Convenience items
12-12
Line Stretching Down Market Stretch Up-Market Stretch Two-Way Stretch
12-13
Product-Mix Pricing Product-line pricing Optional-feature pricing Captive-product pricing Two-part pricing By-product pricing Product-bundling pricing
12-14
Packaging: The 5th P
All the activities of designing and producing the container for a product.
12-15
Packaging has been influenced by: Self-service Consumer affluence Company and brand image Innovation opportunity
12-16
Functions of Labels Identifies Grades Describes Promotes
12-17
Chapter Questions
What are the characteristics of products and how can they be classified? How can companies differentiate products? How can a company build and manage its product mix and product lines? How can companies combine products to create strong co-brands or ingredient brands? How can companies use packaging, labeling, warranties, and guarantees as marketing tools? 12-2
Product
Anything that can be offered to a market to satisfy a want or need.
12-3
Figure 12.2 Five Product Levels Core benefit Basic product Expected product Augmented product Potential product
12-4
Product Classification Schemes Durability Tangibility Use
12-5
Durability and Tangibility Nondurable goods Durable goods Services
12-6
Consumer Goods Classification Convenience Shopping Specialty Unsought
12-7
Industrial Goods Classification Materials and parts Capital items Supplies/business services
12-8
Product Differentiation
Product form Features Performance Conformance Durability Reliability Reparability
Style Design Ordering ease Delivery Installation Customer training Customer consulting Maintenance 12-9
The Product Hierarchy Need family Product family Product class Product line Product type Item
12-10
Product Systems and Mixes Product system Product mix Product assortment Depth Length Width Consistency
12-11
Product Line Analysis Core product Staples Specialties Convenience items
12-12
Line Stretching Down Market Stretch Up-Market Stretch Two-Way Stretch
12-13
Product-Mix Pricing Product-line pricing Optional-feature pricing Captive-product pricing Two-part pricing By-product pricing Product-bundling pricing
12-14
Packaging: The 5th P
All the activities of designing and producing the container for a product.
12-15
Packaging has been influenced by: Self-service Consumer affluence Company and brand image Innovation opportunity
12-16
Functions of Labels Identifies Grades Describes Promotes
12-17
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