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