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PRODUCT

• anything that can be offered to a market to satisfy a want or need.

• It may be physical goods, services, experiences, events, persons, places, properties, organizations, information and ideas.

• Product like. Computer, mobile, motor-car, software etc.

PRODUCT LEVELS: THE CONSUMER VALUE HIERARCHY

Potential product

Augmented product

Expected product (attributes &conditions)

Basic product

Core benefit

PRODUCT CLASSIFICATION

Product classification on the basis of characteristics.

1.Durability and tangibility. Nondurable goods. Durable goods. Services.

2.Consumer goods classification. Convenience goods. Shopping goods. Specialty goods. Unsought goods.

3.Industrial goods classification. Materials and parts. Capital items (installations & equipment). Supplies (paint, coal, lubricant) and business services (maintenance and repair items).

PRODUCT V/S BRAND

• PRODUCT is anything that can be offered to the market that may satisfy the need, want, and demand of a certain individual or market.

• Product is more than just a material object. It is also an inclusive package of benefits or satisfactions that the consumer or buyer may achieve upon purchase or usage.

• A product is the total amount of all physical, psychological, symbolic, and service attributes. Several examples of products are the following: hamburger, fries, and soft drink.

• BRAND is a symbolic manifestation of all the information connected with a company, product, or service. A brand is typically composed of a name, logo, and other visual elements such as images, colors, and icons.

• brand puts an impression to the consumer on what to expect to the product or service being offered. In other application, brand may be referred as a trademark, which is legally an appropriate term.

• 'brand' is a symbol of a product (Coca-Cola), service (airtel bharti), company (dell) or even an individual (Michael Jackson) to identify what it is.

PRODUCT MIX

• it also called a “product assortment”.

• the set of all products and items a particular seller offers for sale.

• It consists of various product lines.

• For example:- product mix of Nirma ltd.consists of fabric-care products, personal care products, food products, and scouring products.

• Product mix has certain width, length, and consistency.

PRODUCT WIDTH, LENGTH, DEPTH, CONSISTENCY

• Width- how many different product lines the company carries(11).

• Length- the total number of items in the mix(25).

• Depth- how many variants are offered in the line (lux> jojoba, almond, honey in milk cream, sandal saffron)(1-4).

• Consistency- how closely related the various product lines are in the end use ,production requirements, distribution channels, or some other way (hp computer & printer).

₪ PRODUCT MIX WIDTH AND PRODUCT LINE LENGTH FOR HUL LTD

Product – mix width

Home and personal care foods

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personal wash laundry skin care hair care oral care

deodorants

colour cosmetic

Lux surf excel fair & lovely sunsilk naturals pepsodent axe lakme

lifebouy rin ponds clinic plus close up rexona

liril wheel

hamam

breeze

dove

Pears

rexona

teaCoffee foods

ice creams

brook bond Bru kissan

kwality walls

liptonknorr anapurna

back.

PRODUCT MIX OF ITC

BPL

BPL

Ϋ PRODUCT MIX FOR CONSTRUCTION COMPANY

PRODUCT MIX FOR ELECTRONIC COMPANY WITH THE SALES

ẅ PRODUCT MIX FOR WED

PRODUCT MIX CONTINUE…..

PRODUCT MIX IN MALL FOR CHILDREN PRODUCT MIX IN OUR MOBILE

◌ PRODUCT MIX DECISION

Decision to Change the product mix.

• Product mix is a combination of products manufactured or traded by the same business house to reinforce their presence in the market, increase market share and increase the turnover for more profitability.

• One of the realities of business is that most firms deal with multi-products .This helps a firm diffuse its risk across different product groups Also it enables the firm to appeal to a much larger group of customers or to different needs of the same customer group.

• Like.. Videocon, ITC, rahejas.

PRODUCT LINE

• Develop a basic platform and modules that can be added to meet different customer requirement.

• A group of closely related products with similar attributes to the target markets.

• For example:- car manufacturers build their cars around a basic platform, home builders show a model home to which buyer can add additional features, series of nokia mobiles.

• Product line managers need to know the sales and profits of each item in their line in order to determine which items to build, maintain, harvest, or divest.

* PRODUCT-LINE ANALYSIS

On the basis of sales and profits. Core product (high sales-high

promoted). Staples (low sales-no promotion). Specialties (low sales volume-high

promoted ). Convenience items (high sales- less

promotion ).

Market profile (positioned again competitor's line )

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Product-item contributions to a product line's total sales and profit

PRODUCT LINE LENGTH

company objectives influence product-line length.

1. Induce up selling. ( for example.. Maruti 800 to alto and Zen, nokia).

2. Cross selling. ( hp = printer > printing papers > computers, everyday torch > power).

3. Protects again economic up down. ( Hindustan unilever ltd., Raymond, tata )

4. High market share and growth. ( reliance ltd., Colgate> shorter lines > high profit)

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