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Product Characteristics and Classifications
SACHET JAINIIT DELHI
What are the characteristics of the products, and how
do marketers classify products ?
Product Levels
Product Levels
Core benefit - service or benefit customer is really buying.
Basic product – At a second level, core benefit is converted into a basic product.
Expected product – set of attributes and conditions, a buyer expects of the product.
Augmented product – prepared product exceeding expectations.
Potential product – encompassing all possible augmentations product might undergo in future
Product classifications
Durability and Tangibility
• Non-durable goods
• Durable goods
• Services
Consumer Goods classification
Convenience Goods• Staples• Impulse goods• Emergency goods
Shopping Goods• Homogeneous shopping goods• Heterogeneous shopping goods
Specialty Goods
Unsought Goods
Industrial Goods Classification
Materials and PartsFarm products Natural productsManufactured materials and partsComponent materialsComponent parts
Capital ItemsInstallationsEquipment
Supplies and business servicesMaintenance and repair itemsOperating suppliesMaintenance and repair servicesBusiness advisory services
Created by Sachet Jain, IIT Delhi, during an internship by Prof. Sameer Mathur, IIM Lucknow.
www.IIMInternship.com