SUBJECT: MARKETING MANAGEMENT 2

ASSIGNMENT NUMBER: 1

NAME : S.SRINIVASA RAGHAVAN

ROLL NUMBER: PGFX19054

BATCH NUMBER: 2017-2019

DATE: 12.1.2018.
1. What is the basis for product levels - Explain with examples.

Solution:

 A product is more than a tangible ‘thing’.

 A product meets the needs of a consumer and in addition to a

tangible value this product also has an abstract value.

 For this reason Philip Kotler states that there are five product levels
that can be identified and developed.

 In order to shape this abstract value, Philip Kotler uses five product
levels in which a product is located or seen from the perception of
the consumer.

 These Five Product Levels indicate the value that consumers attach
to a product. The customer will only be satisfied when the specified
value is identical or higher than the expected value.

POTENTIAL
PRODUCT

AUGUMENTE
PRODUCT

EXPECTED
PRODUCT

BASIC
PRODUCT

CORE
PRODUCT

Figure1. FIVE PRODUCT LEVELS BY KOTLER

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1. Core Product
This is the basic product that adds fundamental value to customers.
EXAMPLE: Bathing soaps, where the core is cleaning action.

2. Basic Product
This represents all the qualities of the product and satisfy the core.
Here the cleaning action is provided to customer by bathing soap bar.

3. Expected Product
This is about all aspects the consumer expects to get when they
purchase a product. Here the attributes like fragrance ,freshness ,
ayurvedic will come into play.

4. Augmented Product
This refers to all additional factors which sets the product apart from
that of the competition. And this particularly involves brand identity and
image. Here additional features like moisturizer content, lime content will
give additional factors for bathing soaps.

5. Potential Product
This is about augmentations and transformations that the product
may undergo in the future. Here future implementations on bathing
soaps like Buy one Get one free, PRICE OFF schemes, New product
offerings like Neem + Glycerin content in NEW MARGO SOAPS

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 Buy 1get 1 free POTENTIAL
or price off schemes PRODUCT
or new products with mixed offerings
Additional
features AUGUMENTE
(Deodarant-axe D PRODUCT
soap,Lime fresh-
Liril,Moisturizer
Dove)

EXPECTED
Freshness,Fr
PRODUCT
agrance,Skin
Gentelness
GENERIC
Bathing soap PRODUCT
bar

CORE
Cleaning PRODUCT
action

Figure1.1 FIVE PRODUCT BASIS FOR BATHING SOAPS

2. On what basis are product classified?

Solution:
Products can be classified based on Durability, Tangibility
and use.

i. DURABLE OR NON TANGIABLE PRODUCTS:

 These are the products which are consumed for a longer period or
these products survive after long use like machine tools, cloths.

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 These products require more personal selling along with services.

 Higher margin can be expected along with seller support.

ii. NON DURABLE OR TANGIABLE PRODUCTS:

 These products consumed quickly and purchased

frequently like soaps, Tooth paste.

 Here lot of marketing strategy is needed to make them

available.

 Low margin only expected in spite of heavy promotions.

iii. SERVICES :

 Its variable and perishable as a product like providing

customer support to machineries.

 Its intangible , inseparable.

 They require more quality.

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3. Draw a product hierarchy for a FMCG Product of your choice

SOLUTION:
In this case I have taken MARGO BATHING SOAP as a
Product from FMCG company of JYOTHY LABORATORIES

PRODUCT HIERARCHY OF JYOTHY LABORATORIES

NEED FAMILY
HYGIENE,AYURVEDIC

PRODUCT FAMILY FAMILY PRODUCT

PRODUCT CLASS PERSONAL PRODUCT

PRODUCT LINE BODY CARE

PRODUCT TYPE SOAPS

SKUS MARGO ORIGINAL NEEM

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SUBJECT: MARKETING MANAGEMENT 2
ASSIGNMENT NUMBER: 2

NAME : S.SRINIVASA RAGHAVAN

ROLL NUMBER: PGFX19054

BATCH NUMBER: 2017-2019

DATE: 12.1.2018.

7
 1. What are the Distinctive Characteristics of services-explain
with appropriate examples.

Solution:
There are four characteristics of services, which are as below.

INTANGIBILITY:

 It can’t be felt or experienced until purchase of the product is made.

 For example: An airline passenger may have a ticket and they will
arrive at a certain time at a certain destination. But there is nothing
that can be touched.

INSEPARABILITY:

 Customer is touched after transaction is made.

 Here services are produced and consumed at the same time.

 For example: In a restaurant, while ordering a meal, the waiting

and delivering time of the meal, the services provided by the waiter
can be taken into account.

VARIABILITY:

 There will be no variation in product which can be sold by various

concerns, But there may be variation on quality of services will be
provided by them.

 The businesses rely on human to provide service. The more

susceptible you are to variability.

 For example: if you are going to procure a TVS bike, it is same

product and quality at all dealer shop. But the quality of services
may vary from dealer to dealer.

PERISHABLITY:

 Services are often perishable.

 It can’t be stored and used at a different period of time.

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  For example: If you fixed an appointment with Doctor and can’t
make it. You have to pay the consultation fee whether you have
visited or not.

2.What are the determinants of service quality(SERVQUAL)

Solution: DETERMINANTS OF SERVQUAL

TANGIBLE

EMPATHY

ASSURANCE

RESPONSIVENESS

RELIABLITY
RELIABLITY:

 Most important from customers perspective.

 It is ability to perform the promised service.

 It consists of 32% in overall service quality determinants.

RESPONSIVENESS:

 It is the willingness to help customers to help customers and

provide prompt.

 It consists of 22% in overall service quality determinants.

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ASSURANCE:

 It is the knowledge and courtesy of employees and ability to convey

trust & confidence.

 It consists of 19% in overall service quality determinants.

EMPATHY:

 It is the Individual attention to customers like understanding their

problems and offering a solution.

 It consists of 16% in overall service quality determinants.

TANGIBLE:

 It is the appearance of physical factors like person, equipment,

communication material.

 It consists of 11% in overall service quality determinants.

3. What are the challenges in managing services on the above

basis.

Solution :

 Services are Intangible, because you can’t feel it. Customer is

uncertain about quality of services and feels about taking risk.
Hence seller may find it difficult to promote, control quality
and set the pricing for services he is providing.

 Quality management in services is difficult as it doesn’t exist

unlike product quality control. Here the customer is In front of
you. Hence improving and defining quality in service industry
may be a major challenge.

 Prices for services, doesn’t come easily.

 The customer needs to build trust in service provider, before

purchasing a product.

 Standardization vs. personalisation is another major issue in

the service industry.

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 Passion also works for service industry. More passion and
spirit may lead to more revenue for the concerned industry.
Direct correlation between staff passion and financial success
and similarly lack of passion leads to failure in service
industry. Hence staffs have to be constantly motivated and
have to sustain their commitments.

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SUBJECT: MARKETING MANAGEMENT 2
ASSIGNMENT NUMBER: 1

NAME : S.SRINIVASA RAGHAVAN

ROLL NUMBER: PGFX19054

BATCH NUMBER: 2017-2019

DATE: 12.1.2018

12
1. What is POP and POD – explain with relevant examples and
how do you correlate to product hierarchy.

Solution:

POP & POD plays a major role in positioning of a product.

POINTS OF PARITY POINTS OF DIFFERENCE

Association that are not unique, but Projection of attributes benefits that
Blends /identifies. makes different

EXAMPLE: RESTAURANTS-Interior
EXAMPLE:RESTAURANTS-all of
Designs, ambience, high quality
them provide similar menu ,choice
ingredients, more flexible in menu
,price
for individual.

PRODUCT HIERARCHY FOR POP RELATED RESTAURANTS

NEED FAMILY HUNGER

PRODUCT FAMILY FOOD

PRODUCT CLASS ALL TYPES OF FOODS

PRODUCT LINE ROAD SIDE

PRODUCT TYPE RICE

SKUS FULL MEALS , HALF MEALS

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PRODUCT HIERARCHY FOR POD RELATED RESTAURANTS

NEED FAMILY HUNGER

PRODUCT FAMILY FOOD

PRODUCT CLASS ALL TYPES OF FOODS

PRODUCT LINE RESTAURANT

DOMINOS PIZZA, PIZZA
PRODUCT TYPE
HUT
SKUS DOMINOS PIZZA

2.What are the Determinants of Brand equity?

Solution :

 Customer is aware and familiar with the brand.

 Customer holds strong ,favourable, unique brand association.

 Keller’s brand resonance pyramid model mainly to focus on to build strong brand,
so that the customers will buy more products and recommend it to others.

STEP 1 : Brand identity is created – who you are.

STEP 2: Brand Meaning – what are you.

STEP 3: Brand Response – what do I think and feel about you.

STEP 4: Brand Resonance – how much connection would like to have with you.

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 RESONANCE

JUDGE FEELINGS
MENTS

PERFORMANCE IMAGERY

SALIENCE

FIGURE 2 . KELLERS BRAND RESONANCE MODEL

3. What are the sources of Brand Equity?

Solution:

 Brand Elements.

 Marketing Activities.

Brand Elements – which may consists of Brand name, Slogans,

URLS, Symbols, Logos.

Marketing Activities – Promoting and selling of Product as a brand

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SUBJECT: MARKETING MANAGEMENT 2
ASSIGNMENT NUMBER: 1

NAME : S.SRINIVASA RAGHAVAN

ROLL NUMBER: PGFX19054

BATCH NUMBER: 2017-2019

DATE: 12.1.2018

16
1. What is Product policy?

Solution:

 Product policy is a guideline which mainly deals with Development

and Production of a product.

 It also helps to manage the products.

 It is mainly generated for maximum customer satisfaction.

 It provides value through current and new offerings.

2. What are the Two domains of product management-explain

each of them.

Solution:

 Product management it is a process of planning, Developing,

Launching, Testing, Delivering, withdrawing a product.

 It has two domains which are PRODUCT PLANNING and PRODUCT

MARKETING.

PRODUCT PLANNING:

 It mainly focuses on the analysis of the product and its portfolios.

 It is stage where product market requirements are identified.

 Here developing, studying, researches on market, product launch,

product life cycle are taken care of.

PRODUCT MARKETING:

 It mainly focuses on promoting and selling the product.

 Here product line, potential market, pricing, making customer to

purchase the product, distributors and delivering the products are
taken care of.

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