product core concepts
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PRODCore Co
BMT506 Product and Brand M
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Product
anything that can ofered to a mark
that might
satisy a want or n
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! product
…in Retailing is called Merchandise
…in Manufacturing is Raw Materia
Finished Goods
…in Project Management is P
Deliv
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! Product can e"
A good
An idea
A process
A method
Information An object
A service
An experience
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! product is"
a bundle of utilities (total product)
a bundle of attributes (features, functions, band uses)
has capabilities to satisf! customer " functio#ell as ps!chological
has some exchange value ma! be tangible or intangible or a combinat
both
is not al#a!s a single product
ma! be a part of another product
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Product #ierarchy
So$utions or Bund$es
Product Port%o$io
Product &ine
Product
Product '$ements( Modu$es(Terms
Product P$at%orm or Base!rchitecture
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Product #ierarchy
Product &ines group of related products
e$g$ s%in care products
Product Port%o$io group of several product lines
e$g$ &osmetics'eaut! care products
So$utions and Bund$es group of related products or services
e$g$ antiageing
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Product #ierarchy
Product '$ements and Modu$es
*blac%boxes+ #ithin a product e$g$ po#ermodule'batteries
Product P$at%orm
nderl!ing frame#or%, base architecture, technoframe#or%s, and interfaces upon #hich productsproduced
e$g$ -#ift platform from Maruti -u.u%i
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Product &e)e$s (Philip /otler)
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Product &e)e$s
Core Benetthe fundamental need or #ant that consumersb! consuming the product or service
Generic Prodcta version of the product containing onl! those or characteristics absolutel! necessar! for it to
!"#ected Prodctthe set of attributes or characteristics that bu!normall! expect and agree to #hen the! purchproduct
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Product &e)e$s
$%mented Prodct
inclusion of additional features, benets, attrelated services that serve to di0erentiate thproduct from its competitors
Potential Prodctall the augmentations and transformations amight undergo in the future$
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Product C$assi*cation
1n basis of Rate of &onsumption " &opeland (
&on'drable 6angible goods that are normall! consumed in on
uses
e$g$ eer, 6oothpaste, -ugar, -oap, -alt, etc$
Drable tangible goods that normall! survive man! uses
e$g$ 7urniture, Refrigerator, &lothing, Rugs, etc$
(ervices activities, benets or satisfaction that are o0ered
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Product C$assi*cation+ CO,SUM'R-OODS:d#ard and Richard (23;2)
Convenience Prodcts that the consumer bu!s #ith minimum shopping e0ort
e$g$ iscuits, <e#spaper, 6oilet -oap, &igarettes etc$
(bcate%ories
Stap$e Products " bought often in a routine manner #thought
.mpu$se Products " purchased #ithout an! planning oe0ort
'mergency Products " circumstantiall! purchased #his great
P d C$ i* i CO,SUM'R
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Product C$assi*cation+ CO,SUM'R-OODS:d#ard and Richard (23;2)
(ho##in% Prodcts selected b! consumers based on certain !ardstic%ssuitabilit!, =ualit!, price and st!le
involve shopping comparison before selection
e$g$ furniture, rugs, dresses, computers, shoes and
appliances
(bcate%ories )*otler+ ,--,. #omogenous Products " seen as basicall! the sa
#eterogeneous Products " seen as di0erent in fe
P d t C$ i* ti CO,SUM'R
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Product C$assi*cation+ CO,SUM'R-OODS:d#ard and Richard (23;2)
(#ecialty Prodcts for #hich consumers are habituall! #illing to ma%
purchasing e0ort$
possess uni=ue characteristics or high degree of identication$
e$g$, specic brands and t!pes of fann! foods, carcomponents, photographic e=uipment and suits$
9o not involve bu!er in ma%ing comparisons bu!etime onl! to reach the dealers of the specialt! go
P d t C$ i* ti CO,SUM'R
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Product C$assi*cation+ CO,SUM'R-OODS
:d#ard and Richard (23;2)
/nso%ht Prodcts Products consumer does not %no# about or %no# about
normall! thin% of bu!ing
e$g$ re extinguishers, insurance, enc!clopedia, novelt!(sometimes) etc$
(bcate%ories )0illiam D1 P1+ ,--2. ,e/ Unsought Products " potential customers do no
an!thing about
Regu$ar$y Unsought Products " customers not motivsatisf! need
P d t C$ i* ti .,DUSTR.!&
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Product C$assi*cation+ .,DUSTR.!&-OODS Fondation Prodcts
manufacturing machines upon #hich produdependent
(bcate%ories .nsta$$ations " buildings and xed e=uipment
!ccessory euipment " portable factor! e=uipmtools #hich do not become part of the nished pr
P d t C$ i* ti .,DUSTR.!&
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Product C$assi*cation+ .,DUSTR.!&-OODS !nterin% Prodcts
ingredients or components of product 6hese are the parts that go into the produc
(bcate%ories
Ra/ materia$s " usuall! enter the production prtheir ra#'natural or nonprocessed state
aricating materia$s " undergo some initial prbefore entering production process
Product C$assi*cation+ .,DUSTR.!&
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Product C$assi*cation+ .,DUSTR.!&-OODS Facilitatin% Prodcts
operating supplies that are used up in the oof the rm but do not become part of the p
purpose of such goods is to %eep the foundgoods functioning properl! and to help in thhandling and suppl! of the entering goods$
e$g$ lubricating oil, sa# blades, labels, etc$
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Product Mi2
also called product assortment
is the set of all products and items that a paseller o0ers for sale
consists of various product lines
Product mix has a certain
3idth " total number of product lines &ength " total number of items in the product m
Depth " number of variants o0ered of each prodline
Consistency ho# closel! related various produ
are in end use, production re=uirements, distribu
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Product &ine Decisions
>ine -tretching 9o#n Mar%et -tretch
p Mar%et -tretch
6#o#a! -tretch
>ine 7illing
>ine Moderni.ation
>ine 7eaturing
>ine 6rimming
Product Management+ e/ Re%erenc
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Product Management+ e/ Re%erencBoo4s 9onal R$ >ehmann and Russell -$ ?iner, Project Ma
6M8
-teven 8aines, The Product Manager’s Desk Refere
Mc@ra# 8ill
Ramanuj Majumdar, Product Management in India,
&$ Anandan, Product Management, 6M8