Product Planing

8/9/2019 Product Planing

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DishaDisha Institute Of Management & Technology ,Institute Of Management & Technology ,

RaipurRaipur

Presented By:Presented By:

RishabhRishabh GuptaGupta

SharadSharad MakhejaniMakhejani


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What is product ?What is product ?

AA product is anything that can be offered to aproduct is anything that can be offered to a

market that might satisfy a want or need.market that might satisfy a want or need.

AA productproduct isis aa physicalphysical good,good, service,service, idea,idea, personperson ororplaceplace thatthat isis capablecapable of of offeringoffering tangibletangible andand

intangibleintangible attributesattributes thatthat individualsindividuals oror organisationsorganisations

regardregard asas soso necessary,necessary, worthwhile,worthwhile, oror satisfyingsatisfying thatthat

theythey areare preparedprepared toto exchangeexchange money,money, patronagepatronage ororsomesome otherother unitunit ofof valuevalue inin orderorder toto acquireacquire itit..


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Tangible ProductTangible Product

(Goods )(Goods )

Intangible Product

( Service )


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CONSUMER VALUE HIERARCHYCONSUMER VALUE HIERARCHY

Potential productPotential product

Augmented productAugmented product

Expected productExpected product

Basic productBasic product

Core benefitCore benefit


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Core ProductCore Product

TheThe corecore featurefeature offeredoffered byby aa productproduct toto thethe customerscustomers..AllAll otherother featuresfeatures areare supersuper imposedimposed onon thethe corecore featurefeature

toto formform thethe personalitypersonality ofof thethe productproduct..

Core benefit of a cellCore benefit of a cell

phone is that it act asphone is that it act as

a wireless medium ofa wireless medium ofcommunicationcommunication..


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Basic ProductBasic ProductIt is a second level of customer value hierarchy in whichIt is a second level of customer value hierarchy in whichthe marketers has to turn the core benefits into basicthe marketers has to turn the core benefits into basic

product.product.

Basic feature of cell phoneBasic feature of cell phone

KeypadKeypad

ScreenScreen

BatteryBatteryBody of cell phoneBody of cell phone

Easy to use etc.Easy to use etc.


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Expected ProductExpected Product

At the third level, the marketers prepares an expectedAt the third level, the marketers prepares an expectedproduct, a set of attributes that buyers normally expectproduct, a set of attributes that buyers normally expect

when they buy a product.when they buy a product.

Expected features of cell phoneExpected features of cell phone

Long battery backLong battery back--upup

Color screenColor screen

Good lookingGood looking

Long durabilityLong durability

SMS facilitySMS facility

RadioRadio

CameraCamera

Phone bookPhone book

Head phone etc.Head phone etc.


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Augmented ProductAugmented Product

At the fourth level, the marketers prepares an augmentedAt the fourth level, the marketers prepares an augmentedproduct, that exceeds customers expectations.product, that exceeds customers expectations.

Augmented features of cell phoneAugmented features of cell phone

Battery backBattery back--up min. 9 hrsup min. 9 hrsTouch screenTouch screen

Stylish and handyStylish and handy

MMS facility and video calls.MMS facility and video calls.

Extendable memories up to 32 GBExtendable memories up to 32 GB

5 MP camera5 MP camera

Phone book unlimited entriesPhone book unlimited entries

Bluetooth headphone etc.Bluetooth headphone etc.


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Potential productPotential product

Potential products are those products which includes all

Potential products are those products which includes allthe improvements that are possible under giventhe improvements that are possible under given

technological, economic and competitive conditions.technological, economic and competitive conditions.

Potential features of cell phonePotential features of cell phone

2G & 3G network2G & 3G network

Maps & GPSMaps & GPSFaster internet connectivityFaster internet connectivity

Intelligent KeyboardsIntelligent Keyboards


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Durability & TangibilityDurability & Tangibility

Non durables goodsNon durables goods

Durables goodsDurables goods

ServicesServices


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Consumer ProductsConsumer Products

Those products which are used by the consumer forThose products which are used by the consumer forpersonal, family or household use and they are boughtpersonal, family or household use and they are bought

with the intention of satisfying individual or personalwith the intention of satisfying individual or personal

needs.needs.

A) Convenience ProductsA) Convenience Products

Inexpensive , frequently bought with minimum thoughtsInexpensive , frequently bought with minimum thoughts

and efforts.and efforts.

B) Shopping productsB) Shopping products

Willing to spent time & efforts, longer life & purchasedWilling to spent time & efforts, longer life & purchased

less frequently.less frequently.


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C) Specialty productsC) Specialty products

One or more unique attributes, available at selectiveOne or more unique attributes, available at selective

outlets, acceptance of substitutes are not present.outlets, acceptance of substitutes are not present.

D) Unsought productsD) Unsought products

The consumer doesnt normally think of buying, it will beThe consumer doesnt normally think of buying, it will be

purchase on emergency cases.purchase on emergency cases.


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Convenience goodsConvenience goods Shopping goodsShopping goods

Specialty goodsSpecialty goods Unsought goodsUnsought goods


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Industrial ProductsIndustrial ProductsP

roducts that are purchased to produce other product orP

roducts that are purchased to produce other product orfacilitates the smooth functioning of an organization.facilitates the smooth functioning of an organization.

A) Materials & parts:A) Materials & parts:

Goods that enters the manufactures product completely.Goods that enters the manufactures product completely.

ii) Raw material) Raw material

( For the paper industry, wood is a raw material )( For the paper industry, wood is a raw material )

ii) Manufactured materials partsii) Manufactured materials parts( For the steel sector, pig iron acts as a manufactured( For the steel sector, pig iron acts as a manufactured

material parts)material parts)


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Industrial ProductsIndustrial Products

B) Capital items:B) Capital items:

They are the long lasting goods that facilitate developingThey are the long lasting goods that facilitate developing

or managing the finished product.or managing the finished product.

ii) Installations) Installations

( Factory buildings & office buildings )( Factory buildings & office buildings )

ii) Equipmentsii) Equipments( Heavy machines, generators etc)( Heavy machines, generators etc)


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What is product Mix ?What is product Mix ?Product mix is a set of all products that an organizationProduct mix is a set of all products that an organization

offers to its customers.offers to its customers.


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Thank YouThank You

Documents

Product Planing