Fine-Tuning the Product

The Product Mix

Options

Features

Uses Guarantee

Packaging

Brand Name

Services

The Product

Product Features

• After basic product is identified, features can be added.

• Car: seat belt, mirrors, safety bumpers are all required featuresOptional: carpeting, reclining seats, etc.

Options

• Features are not a choice, but options give you a choice.

• Phone: call waiting, call forwarding, data plans, texting plans, etc.

Services

• Service plans, insurance plans, etc.

Brand Name/image

• Choosing a product based on name recognition. Loyalty to a product or brand.

• Image – a unique, memorable quality of a brand.

• Could be an image of quality, low price, innovative. Must match the needs of the customer.

Guarantee/Warranty

• Offered by companies to provide customers the assurance that the produce will be repaired or replaced if there are problems.

• Show of good faith, trust in the product.

Packaging

• Provides protection and

security for the product

• Provides information that helps the customer make a better purchasing decision

• Attracts attention, demonstrating uses of the product, and more.

Uses

• Increase the number of uses of the product

Baking Soda – not used to bake bread as much so they highlighted its uses in refrigerators, freshening litter boxes, brushing teeth, etc.

To Do:Pick a product & Describe in a clear list the following:

1.The Basic Product

2.Options (either by the company or its competitors)

3.Services

4.Features

5.Brand Name/Image (include logo)

6.Guarantee/Warranty

7.Packaging

8.Uses

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Options

Features

Uses Guarantee

Packaging

Brand Name

Services

The Product