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    A product is anything that can be offered to a market to satisfy a want or need. Packaging, sometimes called the fifth P, is all the activities of designing and producing the container for a product. A product's value is determined by its market offering, its features, and its quality.

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    A product is anything that can be offered to a market to satisfy a want or need. Packaging, sometimes called the fifth P, is all the activities of designing and producing the container for a product. A product's value is determined by its market offering, its features, and its quality.

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    76 views21 pages

    Setting Product Strategy

    Uploaded by

    nihaalmerchant
    A product is anything that can be offered to a market to satisfy a want or need. Packaging, sometimes called the fifth P, is all the activities of designing and producing the container for a product. A product's value is determined by its market offering, its features, and its quality.

    Copyright:

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    of 21

    12

    Setting Product Strategy

    Marketing Management, 13th ed


    What is a Product?

    A product is anything that can be


    offered to a market to satisfy a want or
    need, including physical goods,
    services, experiences, events, persons,
    places, properties, organizations,
    information, and ideas.
    Figure 12.1 Components of the
    Market Offering
    Value-based prices

    Attractiveness
    of the market
    offering

    Product Services
    features mix and
    and quality quality
    Figure 12.2 Five Product Levels
    Product Classification Schemes

    Durability

    Tangibility

    Use
    Durability and Tangibility

    Nondurable
    goods

    Durable
    Services
    goods
    Consumer Goods Classification

    Convenience Shopping

    Specialty Unsought
    Product Differentiation
    • Product form
    • Features
    • Customization
    • Performance
    • Conformance
    • Durability
    • Reliability
    • Repairability
    • Style
    Service Differentiation

    • Ordering ease
    • Delivery
    • Installation
    • Customer training
    • Customer consulting
    • Maintenance and
    repair
    • Returns
    Design Differentiation
    Maintenance and Repair
    Product Systems and Mixes

    • Product system
    • Product mix
    • Product assortment
    • Depth
    • Length
    • Width
    • Consistency
    Product-Mix Width and Product-Line Length for Proctor&
    Gamble Products
    PRODUCT- Product-Mix Width
    LINE Detergents Toothpaste Disposable Diapers Paper
    LENGTH Bar Soap Tissue
    Ivory Snow Gleem (1952) Ivory Pampers Charmin
    (1930) (1879) (1961) (1928)
    Crest (1955)
    Dreft (1933) Kirk’s (1885) Luvs Puffs
    (1976) (1960)
    Tide Lava
    (1946) (1893) Banner
    (1982)
    Cheer (1950) Camay
    (1926) Summit
    (1992)
    Line Stretching

    Down-Market
    Down-Market Stretch
    Stretch

    Up-Market
    Up-Market Stretch
    Stretch

    Two-Way
    Two-Way Stretch
    Stretch
    Two-Way Product-Line Stretch:
    Marriott Hotels

    Quality
    Economy Standard Good Superior
    Marriott
    High Marquis
    (Top
    executives)
    Price

    Above Marriott
    average (Middle
    managers)

    Average Courtyard
    (Salespeople)

    Fairfield Inn
    Low (Vacationers)
    Product Line Pricing
    What is the Fifth P?

    Packaging, sometimes called the


    fifth P, is all the activities of
    designing and producing the
    container for a product.
    Factors Contributing to the
    Emphasis on Packaging

    Self-service

    Consumer affluence

    Company/brand image

    Innovation opportunity
    Packaging Objectives

    • Identify the brand


    • Convey descriptive and persuasive
    information
    • Facilitate product transportation and
    protection
    • Assist at-home storage
    • Aid product consumption
    Functions of Labels

    Identifies

    Grades

    Describes

    Promotes
    Warranties and Guarantees

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