Marketing Management Kotler Keller Chapter 13

Product
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
5 Product Levels
core benefit, basic, expected, augmented, potential
Product Classifications
Durability•Tangibility•Use
Durability and Tangibility
Nondurable goods•Durable goods•Services
Consumer-Goods Classification
Convenience•Shopping•Specialty•Unsought
Industrial-Goods Classification
Materials and parts•Capital items•Supplies and business services
The Product Hierarchy
1.Need family 2.Product family 3.Product class 4.Product line 5.Product type 6.Item
Product Mix Pricing
The firm searches for a set of prices that maximizes profits on the total mix: Product line pricing-Optional-feature pricing-Product-bundling pricing-Captive-product pricing-By-product pricing-Two-part pricing
Co-Branding
Two or more well-known brands are combined into a joint product or marketed together in some fashion
Ingredient Branding
Co-branding that creates brand equity for parts that are necessarily contained within other branded products
Packaging
All the activities of designing and producing the container for a product
Packaging objectives
•Identify the brand•Convey descriptive and persuasive information•Facilitate product transportation and protection•Assist at-home storage•Aid product consumption
Labeling
Identifies, grades, describes, and promotes the product
Warranties
Formal statements of expected product performance by the manufacturer
Guarantees
Promise of general or complete satisfaction