Marketing Mix : Product

Product Levels :
Core Benefit - The benefit that a product or service can deliver to customers that is not offered by

any competitor: one of the fundamentals of effective marketing and business. Underdelivery Unique Selling Preposition (USP) Unique Visitor.

For example Pure Water

Basic Product A fundamental good or service that can be provided by a business and

sold to consumers that need or desire it. For a manufacturing company, a basic product might be a rather simple good that experiences relatively consistent consumer demand and so helps the business cover its costs while a greater diversity of products are developed. For example- Water Purifier
Expected Product- An attribute of a good or service that consumers usually anticipate receiving when
they purchase it. Marketing staff launching a new product for their business need to keep in mind the qualities of the expected product that consumers want to buy when planning its promotion campaign.

FOR EXAMPLE Water storage facility

Augmented Product- A commodity that has both the primary physical attributes and the non-physical attributes that are added to increase the product's value. Non-physical attributes of an augmented product may include a product warranty, service or installation, and may increase the price of the basic product being purchased, and allow the company selling the good to provide the consumer with other services that may make using the product easier. FOR EXAMPLE- EMI Schemes Potential Product- A conceptual set of qualities or characteristics capable of development into an actual product.
Typically a product definition is formed based upon market research and other information, and then a prototype is created. Once reviewed, the prototype is adapted or accepted as a product model. FOR EXAMPLE- Inbuilt Water cooling and heating system (Recommended)

Marketing Mix : Price Price range Water Purifiers: Rs.1,990 to 18,990/Air Purifiers: Rs. 4,600 to 19,990/Vacuum Cleaners: Rs. 800 to 25,000/-

Pricing Strategies
Market Skimming-An approach under which a producer sets a high price for a new high-end product (such as an
expensive perfume) or a uniquely differentiated technical product (such as one-of-a-kind software or a very advanced computer). Its objective is to obtain maximum revenue from the market before substitutes products appear. After that is accomplished, the producer can lower the price drastically to capture the low-endbuyers and to thwart the copycat competitors.

FOR EXAMPLE- Gradual decrease in price Value Pricing- Pricing method based on the perceived worth of good or service to its intended customers.
FOR EXAMPLE- Strong brand with lower price

Marketing Mix : Place Door to door selling ( 0 level )- direct from point of origin to point of destination. Interactive website ( 0 level )-thats a special kind of customers help. Multi-Branded consumer durable retail showrooms- Eureka Forbes Home Store Industrial/ Corporate Selling

Marketing Mix : Promotion TV advertising Magazine Newspaper advertising Placing adds and promotions online Eureka Forbes Institute of Environment Promotion through CSR activities