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12 Edition: 12 Setting Product Strategy

This document summarizes chapter 12 from the textbook "Marketing Management" by Kotler and Keller. The chapter discusses setting product strategy, including classifying products, differentiating products, building a product mix and lines, combining products through co-branding or ingredients, and using packaging, labeling, warranties and guarantees as marketing tools. It addresses key questions such as how to classify and differentiate products, build a product mix, and use additional elements like packaging and labels to market products.

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MATHILDA
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29 views

12 Edition: 12 Setting Product Strategy

This document summarizes chapter 12 from the textbook "Marketing Management" by Kotler and Keller. The chapter discusses setting product strategy, including classifying products, differentiating products, building a product mix and lines, combining products through co-branding or ingredients, and using packaging, labeling, warranties and guarantees as marketing tools. It addresses key questions such as how to classify and differentiate products, build a product mix, and use additional elements like packaging and labels to market products.

Uploaded by

MATHILDA
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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MARKETING MANAGEMENT

12th edition
12
Setting Product Strategy

Kotler

Keller

Chapter Questions

What are the characteristics of products and how


can they be classified?
How can companies differentiate products?
How can a company build and manage its
product mix and product lines?
How can companies combine products to create
strong co-brands or ingredient brands?
How can companies use packaging, labeling,
warranties, and guarantees as marketing tools?
12-2

Product

Anything that can be offered to a market to


satisfy a want or need.

12-3

Figure 12.2 Five Product Levels


Core benefit
Basic product
Expected product
Augmented product
Potential product

12-4

Product Classification Schemes


Durability
Tangibility
Use

12-5

Durability and Tangibility


Nondurable goods
Durable goods
Services

12-6

Consumer Goods Classification


Convenience
Shopping
Specialty
Unsought

12-7

Industrial Goods Classification


Materials and parts
Capital items
Supplies/business services

12-8

Product Differentiation

Product form
Features
Performance
Conformance
Durability
Reliability
Reparability

Style
Design
Ordering ease
Delivery
Installation
Customer training
Customer consulting
Maintenance
12-9

The Product Hierarchy


Need family
Product family
Product class
Product line
Product type
Item

12-10

Product Systems and Mixes


Product system
Product mix
Product assortment
Depth
Length
Width
Consistency

12-11

Product Line Analysis


Core product
Staples
Specialties
Convenience items

12-12

Line Stretching
Down Market Stretch
Up-Market Stretch
Two-Way Stretch

12-13

Product-Mix Pricing
Product-line pricing
Optional-feature pricing
Captive-product pricing
Two-part pricing
By-product pricing
Product-bundling pricing

12-14

Packaging: The 5th P

All the activities of designing and producing


the container for a product.

12-15

Packaging has been influenced by:


Self-service
Consumer affluence
Company and brand image
Innovation opportunity

12-16

Functions of Labels
Identifies
Grades
Describes
Promotes

12-17

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