1. Setting Product
Strategy
BY
RAGHAV KUMAR
NETAJI SUBHAS INSTITUTE OF TECHNOLOGY, DELHI

2. Characteristics of Product and How
do marketers classify Products

4. 1) Core Benefit
The core benefit is what consumers feel they are getting when they
purchase a product
2) Basic/Generic Product
it refers to the marketer's effort of converting the core benefit into an
Product.
3) Expected Product
it refers to the expectations the consumer have when they purchase
a product

5. 4) Augmented Product
it refers to the product prepared by the marketer which exceeds the
customer expectation.
5) Potential Product
it includes all the possible transformation which the product might
undergo in future

6. Product Classification
1) Durability and Tangibility
2) Use

7. Durability and Tangibility
 1) Nondurable goods( frequently used ,tangible)
 2) Durable goods( can last long , tangible)
 3) Services ( perishable, intangible)

9. Consumer Goods
 1) Convenience goods
 2) Shopping goods
 3) Speciality goods
 4) Unsought goods

10. Convenience
goods
Purchased immediately,
frequently, Soaps, Soft
drinks

11. Shopping
Goods
Compared on the
basis of price, quality
and style. Furniture ,
clothing

12. Speciality Goods
Unique Brand image enough for
buyers to buy. Cars, Stereos...

13. Unsought
Goods
Consumer does not
have much
knowledge or has
little intention to buy.
Smoke detector, life
insurance

14. Industrial Goods
 1) Materials and Parts
 2) Installations
 3) Accessory Equipment
 4) Operating Supplies

15. Material and
Parts
Goods which enter
the manufacturer's
process completely.
Farm products,
Component
materials…

16. Installation
Brought Directly from
Industrial Producer.
Heavy Equipments,
Buildings

17. Accessory
Equipment
Shorter life than
installations. Factory
and office
equipments

18. Operating
Supplies
Short term goods and
services help in
managing finished
products.
Lubricants…

19. Thank You !
BY
RAGHAV KUMAR
NSIT,DELHI