11 Ippt

11
Setting
Product
Strategy
11
Setting Product Strategy
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?
Copyright 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from
the United States edition of Marketing Management, 14e.
11-2
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?
11-3
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.
11-4
Figure 11.1 Components of the

Market Offering
11-5
Figure 11.2 Five Product Levels
11-6
Product Classification Schemes

Durability
Tangibility
Use
11-7
Durability and Tangibility

Nondurable goods
Durable goods
Services
11-8
Consumer Goods Classification

Convenience
Shopping
Specialty
Unsought
11-9
Industrial Goods Classification
Materials and parts

Capital items
Supplies/business services
11-10
Product Differentiation
Product form
Features
Customization
Performance
Conformance
Durability
Reliability
Repairability
Style
11-11
Service Differentiation
Ordering ease
Delivery
Installation
Customer training
Customer consulting
Maintenance and repair
Returns
11-12
Design
11-13
The Product Hierarchy
11-14
Guidelines for Marketing Luxury

Brands
11-15
Product Systems and Mixes
11-16
Figure 11.3 Product-Item

Contributions to a Product Lines
Total Sales and Profits
11-17
Figure 11.4 Product Map for a

Paper-Product Line
Source: Benson P. Shapiro, Industrial Product Policy: Managing the Existing Product Line (Cambridge, MA:
Marketing Science Institute Report No. 77110). Copyright 2003. Reprinted by permission of Marketing
Science Institute and Benson P. Shapiro.
11-18
Line Stretching
Down-Market Stretch
Up-Market Stretch
Two-Way Stretch
11-19
Product-Mix Pricing
Product-line pricing
Optional-feature pricing
Captive-product pricing
Two-part pricing
By-product pricing
Product-bundling pricing
11-20
What Is Cobranding?
In co-brandingalso called dual branding or
brand bundlingtwo or more well-known
brands are combined into a joint product or
marketed together in some fashion.
11-21
Ingredient Branding
11-22
Requirements for successful ingredient

branding
1. Consumers must believe the ingredient matters to
the performance and success of the end product.
2. Consumers must be convinced that not all
ingredient brands are the same and that the
ingredient is superior.
3. A distinctive symbol or logo must clearly signal
that the host product contains the ingredient.
4. A coordinated pull and push program must
help consumers understand the advantages of the
branded ingredient.
11-23
What is the Fifth P?

Packaging, sometimes called the 5th P,
is all the activities of designing and
producing the container for a product.
11-24
Factors Contributing to the

Emphasis on Packaging
Self-service
Consumer affluence
Company/brand image
Innovation opportunity
11-25
Packaging Objectives
11-26
Functions of Labels
Identify the product or brand
Grade it
Promote it
11-27
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?
11-28
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?
11-29

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What are the characteristics of products and

How can a company build and manage its

Figure 11.1 Components of the

Figure 11.2 Five Product Levels

Product Classification Schemes

Durability and Tangibility

Consumer Goods Classification

Industrial Goods Classification

Materials and parts

The Product Hierarchy

Guidelines for Marketing Luxury

Product Systems and Mixes

Figure 11.3 Product-Item

Figure 11.4 Product Map for a

Requirements for successful ingredient

What is the Fifth P?

Factors Contributing to the

What are the characteristics of products and

Also for Review

How can a company build and manage its

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