MEANING & CLASSIFICATION OF PRODUCTS

BY-ABHINAV DAYAL M.B.A. (II SEM)

WHAT IS PRODUCT?
A product is anything that can be offered to a market to satisfy a want or need including Physical goods Services Persons Places Properties Organizations Information Ideas.

FIVE PRODUCT LEVELS

CORE BENEFIT

BASIC PRODUCT
EXPECTED PRODUCT AUGMENTED PRODUCT POTENTIAL PRODUCT

 CORE BENEFIT:-The service or benefit the customer is really buying. BASIC PRODUCT:-It is about what specifically the actual product is. EXPECTED PRODUCT:-A set of attributes and conditions buyers normally expect when they purchase this product .

 AUGMENTED PRODUCT:-The augmented product is the result of voluntary improvements brought about by the manufacturer in order to enhance the value of the product. POTENTIAL PRODUCT:-All the possible augmentations and transformations the product or offering might undergo in the future.

PRODUCT CLASSIFICATIONS
Durability & Tangibility Consumer-goods Industrial-goods

DURABILITY & TANGIBILITY

Nondurable goods:-Tangible goods normally consumed in one or a few uses.

Durable goods:-Tangible goods that normally survive many uses. Services:-Intangible ,inseparable ,variable and perishable products.

CONVENIENCE-GOODS
CONVENIENCE GOODS

STAPLES

IMPULSE GOODS

EMERGENCY GOODS

CONSUMER-GOODS CLASSIFICATION
1. Staples:-Goods consumers purchase on regular basis.
2.Impulse goods:-Goods purchased without any planning or search effort.

3.Emergency goods:-Goods purchased when a need is urgent.

SHOPPING GOODS
SHOPPING GOODS

HOMOGENEOUS SHOPPING GOODS

HETEROGENEOUS SHOPPING GOODS

1. Homogeneous shopping goods:-Goods similar in quality but different enough in price to justify shopping comparisons.

2. Heterogeneous shopping goods:-Goods differ in product features and services that may be more important than price.

 Specialty goods:-Goods that have unique characteristics or brand identification for which a sufficient number of buyers are willing to make a special purchasing effort.

Unsought goods:-Goods that the consumer does not know about or does not normally think of buying.

INDUSTRIAL-GOODS CLASSIFICATION

INDUSTRIAL GOODS

MATERIALS & PARTS

CAPITAL ITEM

SUPPLIES

BUSINESS SERVICES

MATERIALS & PARTS

RAW MATERIALS

MANUFACTURED MATERIALS & PARTS

FARM PRODUCTS

NATURAL PRODUCTS

COMPONENT MATERIALS

COMPONENT PARTS

CAPITAL ITEMS

INSTALLATIONS

EQUIPMENT

SUPPLIES

MAINTENANCE & REPAIR ITEMS

OPERATING SUPPLIES

BUSINESS SERVICES

MAINTENANCE & REPAIR SERVICES

BUSINESS ADVISORY SERVICES

REFERENCES
MARKETING MANAGEMENT
PHILIP KOTLER
K.L.KELLER ABRAHAM KOSHY MITHILESHWAR JHA www.google.com

THANK YOU!