Session 12 Product Strategy
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PRODUCT STRATEGY
Session 12 Subhadip Roy
Product
Definition: Anything that can be offered to a market to satisfy a want or need. This Includes: Physical Goods, Services, Events, Experiences, etc.
Product Levels (Levitt)
Product Levels ex. Potential product – all possible Augmented product – Fresh flowers Expected product – Clean bed Basic product – Hotel room Core benefit - Sleep
Product Classification Schemes
Durability Tangibility Use (Consumer/ Industrial)
Durability and Tangibility Nondurable goods Services
Durable goods
Consumer Goods Classification
Convenience
Shopping
Specialty
Unsought
Industrial Goods Classification Materials and Parts
Capital Items Supplies and Services
Product Differentiation • • • • • • • •
Form (Bajaj Pulsar) Features (Television sets) Performance Quality (Hyundai) Conformance Quality (Cadbury’s) Durability (Duracell) Reliability (Sony) Reparability (Ikea) Style (Apple)
Product Hierarchy • • • • • •
Need Family (Protection from elements) Product Family (Clothing) Product Class (Cotton Clothing) Product Line (Shirt) Product Type (Wrinkle free full sleeve) Item (Turtle Wrinkle Free)
Consistency
Product Mix Width - number of different product lines Length - total number of items within the lines Depth - number of versions of each product
Product Mix all the product lines offered
Product-Mix Width and Product-Line Length for Proctor& Gamble Products Product-Mix Width Detergents
Toothpaste
Ivory Snow (1930)
Gleem (1952)
PRODUCTDreft LINE (1933) LENGTH Tide (1946) Cheer (1950)
Disposable Bar Soap
Diapers
Paper Tissue
Ivory (1879)
Pampers (1961)
Charmin (1928)
Kirk’s (1885)
Luvs (1976)
Puffs (1960)
Crest (1955)
Lava (1893)
Banner (1982)
Camay (1926)
Summit (1992)
Line Stretching Down-Market Stretch
Up-Market Stretch
Two-Way Stretch
Price
Two-Way Product-Line Stretch: Marriott Hotels Economy
Quality
Standard
Good
Marriott Marquis (Top executives)
High Marriott (Middle managers)
Above average Average Fairfield Inn Low (Vacationers)
Superior
Courtyard (Salespeople)
Ingredient Branding and CoBranding
Packaging
All the activities of designing and producing the container for a product.
Functions of Labels Identifies Grades Describes Promotes
Thank You, Class
Session 12 Subhadip Roy
Product
Definition: Anything that can be offered to a market to satisfy a want or need. This Includes: Physical Goods, Services, Events, Experiences, etc.
Product Levels (Levitt)
Product Levels ex. Potential product – all possible Augmented product – Fresh flowers Expected product – Clean bed Basic product – Hotel room Core benefit - Sleep
Product Classification Schemes
Durability Tangibility Use (Consumer/ Industrial)
Durability and Tangibility Nondurable goods Services
Durable goods
Consumer Goods Classification
Convenience
Shopping
Specialty
Unsought
Industrial Goods Classification Materials and Parts
Capital Items Supplies and Services
Product Differentiation • • • • • • • •
Form (Bajaj Pulsar) Features (Television sets) Performance Quality (Hyundai) Conformance Quality (Cadbury’s) Durability (Duracell) Reliability (Sony) Reparability (Ikea) Style (Apple)
Product Hierarchy • • • • • •
Need Family (Protection from elements) Product Family (Clothing) Product Class (Cotton Clothing) Product Line (Shirt) Product Type (Wrinkle free full sleeve) Item (Turtle Wrinkle Free)
Consistency
Product Mix Width - number of different product lines Length - total number of items within the lines Depth - number of versions of each product
Product Mix all the product lines offered
Product-Mix Width and Product-Line Length for Proctor& Gamble Products Product-Mix Width Detergents
Toothpaste
Ivory Snow (1930)
Gleem (1952)
PRODUCTDreft LINE (1933) LENGTH Tide (1946) Cheer (1950)
Disposable Bar Soap
Diapers
Paper Tissue
Ivory (1879)
Pampers (1961)
Charmin (1928)
Kirk’s (1885)
Luvs (1976)
Puffs (1960)
Crest (1955)
Lava (1893)
Banner (1982)
Camay (1926)
Summit (1992)
Line Stretching Down-Market Stretch
Up-Market Stretch
Two-Way Stretch
Price
Two-Way Product-Line Stretch: Marriott Hotels Economy
Quality
Standard
Good
Marriott Marquis (Top executives)
High Marriott (Middle managers)
Above average Average Fairfield Inn Low (Vacationers)
Superior
Courtyard (Salespeople)
Ingredient Branding and CoBranding
Packaging
All the activities of designing and producing the container for a product.
Functions of Labels Identifies Grades Describes Promotes
Thank You, Class
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