2. What Is a Product ?
Features : qualities, tangible and intangible
Benefits : the want-satisfying value
Value package : bundle of value-adding attributes
Features ?
Benefits ?
7. The Product Mix
Product mix is a group of products that a firm makes available for
sale (e.g. )
Product line is a group of similar products intended for a similar
group of buyers who will use them in similar ways
12. The New Product Development Process
Product Mortality
Speed to market
13. The Seven-Step Development Process
Product Ideas Commercialization
Testing &
Screening Marketing
Prototype
Concept Testing
Business
Analysis
14. Extending Product Life :
An Alternative to New Products
• Product extension is an existing product that is
marketed globally
• Product adaptation is the product modified to
have greater appeal in foreign markets
• Reintroduction is the process of reviving for new
markets products that are obsolete in older ones
15. Branding Products
Branding is the process of using symbols to communicate
the qualities of a product made by a particular producer
1. Brand equity
2. Brand awareness
16.
17.
18.
19.
20. Types of Brand Names
1. National brand
2. Licensed brand
3. Private brand or Private label
36. International Pricing
Pricing products for other countries is
complicated because additional factors are
involved.
One strategy calls for increasing foreign market
share by pricing products below cost.