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7/28/2019 Meaning & Classification of Products
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MEANING & CLASSIFICATION OF
PRODUCTS
BY-ABHINAV DAYALM.B.A. (II SEM)
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WHAT IS PRODUCT?
A product is anything that can be offered to amarket to satisfy a want or need including-
Physical goods
Services Persons
Places
Properties
Organizations Information
Ideas.
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FIVE PRODUCT LEVELS
CORE BENEFIT
BASIC
PRODUCT
EXPECTEDPRODUCT
AUGMENTED
PRODUCT
POTENTIAL
PRODUCT
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CORE BENEFIT:-The service or benefit the
customer is really buying.
BASIC PRODUCT:-It is about what specifically
the actual product is.
EXPECTED PRODUCT:-A set of attributes and
conditions buyers normally expect when they
purchase this product .
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AUGMENTED PRODUCT:-The augmented
product is the result of voluntary
improvements brought about by the
manufacturer in order to enhance the value of
the product.
POTENTIAL PRODUCT:-All the possible
augmentations and transformations the
product or offering might undergo in thefuture.
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PRODUCT CLASSIFICATIONS
Durability & Tangibility
Consumer-goods
Industrial-goods
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DURABILITY & TANGIBILITY
Nondurable goods:-Tangible goods normally
consumed in one or a few uses.
Durable goods:-Tangible goods that normally
survive many uses.
Services:-Intangible ,inseparable ,variable and
perishable products.
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CONVENIENCE-GOODS
CONVENIENCE
GOODS
STAPLES
IMPULSE
GOODS
EMERGENCY
GOODS
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CONSUMER-GOODS CLASSIFICATION
1. Staples:-Goods consumers purchase onregular basis.
2.Impulse goods:-Goods purchased without anyplanning or search effort.
3.Emergency goods:-Goods purchased when aneed is urgent.
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SHOPPING GOODS
SHOPPING
GOODS
HOMOGENEOUSSHOPPING
GOODS
HETEROGENEOUSSHOPPING
GOODS
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1. Homogeneous shopping goods:-Goods
similar in quality but different enough in
price to justify shopping comparisons.
2. Heterogeneous shopping goods:-Goods differ
in product features and services that may be
more important than price.
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Specialty goods:-Goods that have unique
characteristics or brand identification for
which a sufficient number of buyers arewilling to make a special purchasing effort.
Unsought goods:-Goods that the consumer
does not know about or does not normally
think of buying.
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INDUSTRIAL
GOODS
MATERIALS
& PARTS
CAPITAL
ITEMSUPPLIES
BUSINESS
SERVICES
INDUSTRIAL-GOODS CLASSIFICATION
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MATERIALS &
PARTS
RAW MATERIALS
FARMPRODUCTS NATURALPRODUCTS
MANUFACTURED
MATERIALS &PARTS
COMPONENTMATERIALS COMPONENTPARTS
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CAPITAL ITEMS
INSTALLATIONS EQUIPMENT
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SUPPLIES
MAINTENANCE
& REPAIR
ITEMS
OPERATING
SUPPLIES
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BUSINESSSERVICES
MAINTENANCE
& REPAIR
SERVICES
BUSINESS
ADVISORY
SERVICES
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REFERENCES
MARKETING MANAGEMENT
PHILIP KOTLER
K.L.KELLER
ABRAHAM KOSHY
MITHILESHWAR JHA
www.google.com
http://www.google.com/http://www.google.com/7/28/2019 Meaning & Classification of Products
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THANK YOU!
