Download - C H P T R11revised
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PRODUCT & PRODUCT LINES
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PRODUCT PLANNING
• Is the systematic decision-making related to all aspects of the development and management of a firm’s products including branding & packaging
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PRODUCT PERSONALITY
CORE FEATURESBasic component of a product.
ASSOCIATED FEATURESShape, capacity, power steering, colorBrand name
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Packaging
branding
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NATURE OF PRODUCT
Theodore Levitt1980The concept
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Generic product
Expected product
Augmented product
Potential product
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Generic productUnbranded,plainly packaged, less expensive
Expected productCustomer required attributes & conditions
Augmented productDifferenciation+adding values
Potential productAll improvements that are possible under given technological, economic and competitive conditions.
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PRODUCT CLASSIFICATION
DURABILITY AND TANGIBILITYNon durablesDurablesservices
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USAGE
Consumer productsConvinienceShoppingSpecialityunsought
Industrial productsRaw materialComponentsCapital equipmentsConsumable suppliesBusiness services
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PRODUCT POLICY
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Color cosmetics
Hair care
Skin care
Oral care
deodorants
Soaps and detergents
Toilet soaps
beverages
food
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• PRODUCT MIX• Set of all the products that an organization offers to customers
• WIDTH- total no of product lines
• LENGTH- total number of items in a mix
• DEPTH- variations, sizes, colors
• CONSISTENCY- closeness exhibited by product lines
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PRODUCT MIX STATEGIES
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Expansion of product mixContraction of product mixAltering existing productsPositioning the product
Trading upTrading down
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• Line stretching• Beyond current range of products
• Line filling• Adding more products to existing range of product lines
• Line pruning
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PRODUCT LIFE CYCLE
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IntroductionGrowthMaturitySaturationdecline
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Introduction
Rapid skimming-HP, HPrms Slow skimming-HP, Low proms Rapid penetration-LP,H promos Slow penetration – LP,LPromos
RS55000
3.39 LAKHS
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Growth
• Aggressive pricing• Product benefits-niche• Improve quality• Introduce distribution channels• Enter new markets
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Maturity
• Abandon weaker products & concentrate on profitable pdts.
• Increase sales promos• Packaging• R&D
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decline
Strengthen competitive position Drop unprofitable customer group Divest the business. Harvest the firm’s investment.
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