Download - Kotler MM 14e 12 Ippt GE
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12Setting Product
Strategy
1
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Chapter Questions
What are the characteristics of products and how do marketers classify products?
How can companies differentiate products? Why is product design important and what
factors affect a good design?
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Chapter Questions
How can a company build and manage its product mix and product lines?
How can companies combine products to create strong co-brands or ingredient brands?
How can companies use packaging, labeling, warranties, and guarantees as marketing tools?
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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.
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Figure 12.1 Components of the Market Offering
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Figure 12.2 Five Product Levels
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Product Classification Schemes
Durability
Tangibility
Use
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Durability and Tangibility
Nondurable goods
Durable goods
Services
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Consumer Goods Classification
Convenience
Shopping
Specialty
Unsought
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Industrial Goods Classification
Materials and parts Capital items Supplies/business services
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Product Differentiation
Product form Features Customization Performance Conformance
Durability Reliability Repairability Style
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Service Differentiation
Ordering ease Delivery Installation Customer training Customer consulting Maintenance and repair Returns
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Design
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The Product Hierarchy
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Product Systems and Mixes
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Figure 12.3 Product-Item Contributions to a Product Line’s Total Sales and Profits
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Figure 12.4 Product Map for a Paper-Product Line
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Line Stretching
Down-Market Stretch
Up-Market Stretch
Two-Way Stretch
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Product-Mix Pricing
Product-line pricing Optional-feature pricing Captive-product pricing Two-part pricing By-product pricing Product-bundling pricing
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Ingredient Branding
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What is the Fifth P?
Packaging, sometimes called the 5th P, is all the activities of designing and
producing the container for a product.
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Factors Contributing to the Emphasis on Packaging
Self-service Consumer affluence Company/brand image Innovation opportunity
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Packaging Objectives
Identify the brand Convey descriptive and persuasive
information Facilitate product transportation and
protection Assist at-home storage Aid product consumption
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Functions of Labels
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For Review
What are the characteristics of products and how do marketers classify products?
How can companies differentiate products? Why is product design important and what
factors affect a good design?
Copyright © 2012 Pearson Education 2-25
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Also For Review
How can a company build and manage its product mix and product lines?
How can companies combine products to create strong co-brands or ingredient brands?
How can companies use packaging, labeling, warranties, and guarantees as marketing tools?
Copyright © 2012 Pearson Education 12-26