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Physical Objects Services Events Persons - PowerPoint PPT Presentation


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Physical Objects Services Events Persons. Places Organizations Ideas Combinations of the above. What is a Product? A PRODUCT is anything that can be offered to a market for attention, acquisition, use, or consumption and that might satisfy a want or need. Includes:. What is a Service?.

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Presentation Transcript
slide1
Physical Objects

Services

Events

Persons

Places

Organizations

Ideas

Combinations of the above

What is a Product?A PRODUCT is anything that can be offered to a market for attention, acquisition, use, or consumption and that might satisfy a want or need.Includes:

what is a service
What is a Service?
  • A SERVICE is a form of product that consist of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything.
  • Examples include:
    • Banking
    • Hotels
    • Tax preparation
    • Home repair services
products services and experiences
Products, Services, and Experiences

Service With Accompanying Minor Goods

Tangible Good With Accompanying Services

Pure Tangible Good

Hybrid Offer

Pure Service

Auto With Accompanying Repair Services

Airline Trip With Accompanying Snacks

Soap

Restaurant

Doctor’s Exam

The Product-Service Continuum

branding
Advantages

Buyers:

Identification

Quality and value

Sellers

Tells a story

Provides legal protection

Helps segments markets

Brand Equity

Higher brand loyalty

Name awareness

Perceived quality

Strong brand associations

Patents, trademarks, channel relationships

Branding
brands and brand symbols
Brands and Brand Symbols
  • Powerful brands such as these have brand equity:
    • Coca-Cola brand - $69 billion
    • IBM brand - $53 billion
  • Offers defense against fierce price competition.
packaging
Packaging
  • Designing and producing the container or wrapper for a product.
    • Elements must support product’s position and marketing strategy.
labeling
Labeling
  • Printed information appearing on or with the package.
    • Identifies product or brand
    • Describes several things about the product
    • Promotes the product through attractive graphics
product support services
Product Support Services

Companies use product support services as a major tool in gaining competitive advantage.

How?

Step 1. Survey customers.

Step 2. Assess costs.

Step 3. Develop a package of services to delight customers and yield profits.

product line decisions

Stretching

Lengthen beyond current range

Filling

Lengthen within current range

Downward

Both Directions

Upward

Product Line Decisions

Product Line Length

Number of Items in the Product Line

product mix decisions
Product Mix Decisions

Procter & Gamble's Product Mix

Baby Care

Beauty Care

Fabric & Home

Food &

Health Care

Care

Beverage

  • Width – number of different product lines
  • Length – total number of items the company carries within product lines
  • Depth – number of versions offered of each product in line

Six Toothpastes

in Line

Crest Multicare

Crest Cavity

Protection

Crest Tartar

Protection