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Setting Product
Strategy
BY
RAGHAV KUMAR
NETAJI SUBHAS INSTITUTE OF TECHNOLOGY, DELHI
Characteristics of Product and How
do marketers classify Products
Setting product strategy
1) Core Benefit
The core benefit is what consumers feel they are getting when they
purchase a product
2) Basic/Generic Product
it refers to the marketer's effort of converting the core benefit into an
Product.
3) Expected Product
it refers to the expectations the consumer have when they purchase
a product
4) Augmented Product
it refers to the product prepared by the marketer which exceeds the
customer expectation.
5) Potential Product
it includes all the possible transformation which the product might
undergo in future
Product Classification
1) Durability and Tangibility
2) Use
Durability and Tangibility
 1) Nondurable goods( frequently used ,tangible)
 2) Durable goods( can last long , tangible)
 3) Services ( perishable, intangible)
Setting product strategy
Consumer Goods
 1) Convenience goods
 2) Shopping goods
 3) Speciality goods
 4) Unsought goods
Convenience
goods
Purchased immediately,
frequently, Soaps, Soft
drinks
Shopping
Goods
Compared on the
basis of price, quality
and style. Furniture ,
clothing
Speciality Goods
Unique Brand image enough for
buyers to buy. Cars, Stereos...
Unsought
Goods
Consumer does not
have much
knowledge or has
little intention to buy.
Smoke detector, life
insurance
Industrial Goods
 1) Materials and Parts
 2) Installations
 3) Accessory Equipment
 4) Operating Supplies
Material and
Parts
Goods which enter
the manufacturer's
process completely.
Farm products,
Component
materials…
Installation
Brought Directly from
Industrial Producer.
Heavy Equipments,
Buildings
Accessory
Equipment
Shorter life than
installations. Factory
and office
equipments
Operating
Supplies
Short term goods and
services help in
managing finished
products.
Lubricants…
Thank You !
BY
RAGHAV KUMAR
NSIT,DELHI

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Setting product strategy