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Tell and Show
- 1. MARKETING CONCEPTS: As Applied in Productivity Technologies Service Inc. Jean Daisy C. de Guzman V60 Marketing Management Professor Bond De Ungria www.jeandeguzman.blogspot.com
- 2. A Tell and Show Presentation based on: Chapter 12 SETTING PRODUCT STRATEGY www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com
- 3. 6 KEY CONCEPTS Products 1. Aim to satisfy a want or need 2. May be classified into 5 different levels 3. Can be classified in a number of ways 4. Follow a Hierarchy 5. May be supported by Service Differentiation 6. Are subject to Stretching www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com
- 4. What are PRODUCTS? - anything that can be offered to the market that might satisfy a want, need or demand www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com Concept 1
- 5. What are PRODUCTS? - means to an end wherein the end is the satisfaction of customer needs, wants or demands www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com Concept 1
- 6. PTSI PRODUCTS www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com Example 1 -may also include experiences, events, places, properties, organizations, information and ideas PEOPLESERVICEPHYSICAL GOODS
- 7. The Customer-Value Hierarchy: 5 Product Levels www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com Concept 2 - Each level adds more customer value to ensure higher customer satisfaction - Satisfaction:
- 8. The Customer-Value Heirarchy: 5 Product Levels www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com Concept 2
- 9. The Customer-Value Hierarchy: 5 Product Levels 1- Core Benefit Efficient way of documenting transactions 2-Generic Product Computer www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com Example 2
- 10. The Customer-Value Hierarchy: 5 Product Levels 3- Expected Product Computer with high specifications 4-Augmented Product Offer Quarterly Maintenance of Computer www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com Example 2
- 11. The Customer-Value Hierarchy: 5 Product Levels 5- Potential Product Upgrade to a Blade Server www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com Example 2
- 12. Product Classification: DURABILITY AND TANGIBILITY -helps determine appropriate marketing-mix strategy www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com Concept 3
- 13. Product Classification: DURABILITY AND TANGIBILITY Durable Nondurable Service Goods Goods www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com Concept 3
- 14. Product Classification: DURABILITY Durability www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com Example 3 Margin Personal Selling Requirement Durable Goods Non-Durable Goods
- 15. Product Classification: TANGIBILITY Quality Control www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com Example 3 Margin Personal Selling Requirement Service
- 17. PRODUCT HIERARCHY Need Family Information Technology Supplies Product Family Hardware Software Services Product Class Database Managers www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com Example 4
- 18. PRODUCT HIERARCHY Product Line Servers Product Type 2-Socket Servers Item IBM X3650 Server www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com Example 4
- 19. SERVICE DIFFERENTIATION - Value added service may be the key to competitive advantage www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com Concept 5 • Ordering • Delivery • Return • Installation • Maintenance and Repair • Customer Consulting • Customer Training
- 20. SERVICE DIFFERENTIATION Delivery of items that are on stock in 2-3 days www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com Example 5 Penalties accepted when fails to comply with SLA Highly trained staff
- 21. PRODUCT-LINE LENGTH: LINE STRETCHING • Down-Market • Up-Market • Two-way www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com Concept 6
- 22. PTSI’s TWO-WAY STRETCH Specializing in Virtual Technology Offering Clone Computers to the market www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com Example 6
- 23. 6 KEY CONCEPTS Products 1. Aim to satisfy a want or need 2. May be classified into 5 different levels 3. Can be classified in a number of ways 4. Follow a Hierarchy 5. May be supported by Service Differentiation 6. Are subject to Stretching www.jeandeguzman@blogspot.com www.jeandeguzman.blogspot.com
- 24. MARKETING CONCEPTS: As Applied in Productivity Technologies Service Inc. Jean Daisy C. de Guzman V60 Marketing Management Professor Bond De Ungria www.jeandeguzman.blogspot.com
Editor's Notes
- At the heart of a great brand is a great product.Product is the key element in marketing offering.
- May include physical goods, services, experiences, events, persons, places, properties, organizations, information and ideasA product is anything that can be offered to a market for attention, acquisition, or use, or something that can satisfy a need or want.Products are the means to an end wherein the end is the satisfaction of customer needs or wants.
- May include physical goods, services, experiences, events, persons, places, properties, organizations, information and ideasA product is anything that can be offered to a market for attention, acquisition, or use, or something that can satisfy a need or want.Products are the means to an end wherein the end is the satisfaction of customer needs or wants.
- Products are the means to an end wherein the end is the satisfaction of customer needs or wants.Satisfaction is the degree to which the actual use of a product matches the perceived value at the time of the purchase. A customer is satisfied only if the actual value is the same or exceeds the perceived value.
- 1. Core Benefit ----the fundamental need or want that consumers satisfy by consuming the product or service.2. Generic Product----a version of the product containing only those attributes or characteristics absolutely necessary for it to function.3. Expected Product----the set of attributes or characteristics that buyers normally expect and agree to when they purchase a product.4. Augmented Product---inclusion of additional features, benefits, attributes or related services that serve to differentiate the product from its competitors.5. Potential Product---all the augmentations and transformations a product might undergo in the future.
- Satisfaction is the degree to which the actual use of a product matches the perceived value at the time of the purchase. A customer is satisfied only if the actual value is the same or exceeds the perceived value.
- Satisfaction is the degree to which the actual use of a product matches the perceived value at the time of the purchase. A customer is satisfied only if the actual value is the same or exceeds the perceived value.
- Satisfaction is the degree to which the actual use of a product matches the perceived value at the time of the purchase. A customer is satisfied only if the actual value is the same or exceeds the perceived value.
- Customer trainingReturn
- At the heart of a great brand is a great product.Product is the key element in marketing offering.