1.what are the characteristics of products and how do marketers classify product
TRANSCRIPT
SETTING PRODUCT STRATEGY
1. What are the characteristics of products and how do marketers classify products?
Components
of Market
Offerings
VALUE BASED PRICE
PRODUCT FEATURES AND QUALITY
SERVICES MIX AND QUALITY
PRODUCT LEVEL:
PRODUCT
CLASSIF
ICATIO
N
DURABILITY AND
TANGIBILITY
CONSUMER GOODS
INDUSTRIAL GOODS
1. DURABILITY AND TANGIBILITY
NON DURABLE GOODS:
• GOODS CONSUMED IN ONE OR FEW USES
• PURCHASED FREQUENTLY
• STRATEGY: AVAILABILITY, LOW PRICE, HEAVILY ADVERTISED
1. DURABILITY AND TANGIBILITY
Durable goods:
• Goods that survive many uses
• Require more personal selling
1. DURABILITY AND TANGIBILITY
SERVICES:
• INTANGIBLE PRODUCT
• REQUIRES MORE QUALITY CONTROL
2. CONSUMER GOODS
CONVENIENCE GOODS:
• FREQUENTLY PURCHASED
• INEXPENSIVE
• EMERGENCY GOODS
2. CONSUMER GOODS
SHOPPING GOODS:
• NOT FRQUENTLY PURCHASED
• COSTLY
2. CONSUMER GOODS
SPECIALITY GOODS:
• UNIQUE CHARACTERISTICS OR BRAND IDENTIFICATION
2. CONSUMER GOODS
UNSOUGHT GOODS:
• CONSUMER WILL BE NOT AWARE OF THESE GOODS
• DOES NOT THINK OF BUYING
3. INDUSTRIAL GOODS
MATERIALS AND PARTS:
RAW MATERIALS
MANUFACTURED MATERIALS AND PARTS
FARM PRODUCTS
NATURAL PRODUCTS
3. INDUSTRIAL GOODS
RAW MATERIALS
MANUFACTURED MATERIALS AND PARTS
FARM PRODUCTS
NATURAL PRODUCTS
MATERIALS AND PARTS:
3. INDUSTRIAL GOODS
MATERIALS AND PARTS:
RAW MATERIALS
MANUFACTURED MATERIALS AND PARTS
COMPONENT MATERIALS
COMPONENT PARTS
MATERIALS AND PARTS:
RAW MATERIALS
MANUFACTURED MATERIALS AND PARTS
COMPONENT MATERIALS
COMPONENT PARTS
3. INDUSTRIAL GOODS
3. INDUSTRIAL GOODS
CAPITAL ITEMS :
• LONG LASTING GOODS
TWO TYPES:
1. INSTALATION
2. EQUIPMENT
3. INDUSTRIAL GOODS
SUPPLIES:
• FACILITATE IN DEVELOPING OR MANAGING FINISHED PRODUCTS
TWO TYPES:
• MAINTAINANCE AND REPAIR ITEMS
• OPERATING SUPPLIES
3. INDUSTRIAL GOODS
BUSINESS SEVICES:
TWO TYPES:
1. MAINTAINANCE AND REPAIR ITEMS
2. BUSINESS ADVISORY SERVICES
RECAP:
PRODUCT
CLASSIFICATION
DURABILITY AND
TANGIBLITY
CONSUMER
GOODS
INUDSTRIAL
GOODS
NON DURABLE
GOODS
Durable goods
SERVICESUNSOUGHT
GOODS
SPECIALITY
GOODS
SERVICES
SUPPLIES AND
BUSINESS SEVICES
CAPITAL ITEMS
MATERIALS AND
PARTS
Created by:sagar s ts.i.t, tumkur
during an internship by
prof. Sameer mathuriim, lucknow