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Marketing Management Module Chapter 12
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Setting Product Strategy With activities included.
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Marketing Management Page 1 of 13Shaping Market Offerings
Topic: Setting Product Strategy
Welcome Notes:
WELCOME BSBA STUDENTS!!!
Get ready to be challenge…
Learn something new every day by adapting the
‘New Normal’
I. INTRODUCTION:
In this module we will examine product. Marketing planning begins with formulating an offering to meet
target customers’ needs or wants. The customer will judge the offering by three basic elements: product
features and quality, services mix and quality, and price
II. OBJECTIVES:
At the end of this module, you should be able to:
1. Discuss what are the characteristics of products, and how do marketers classify products and;
2. Discuss how can companies differentiate products and why is product design important;
3. Discuss what factors affect a good design; and
4. Discuss in how companies can use packaging, labeling, warranties, and guarantees as marketing
tools.
III. PRELIMINARY ACTIVITIES:
Before you proceed to the main lesson, test yourself in this activity.
Retrieved from: https://medium.com/swlh/10-dilbert-strips-that-show-a-product-managers-life-ae0fcc7aa1b3
November 17, 2020
, Marketing Management Page 2 of 13
Shaping Market Offerings
Analyze the photo above. Base on the picture what do you think is the message being sent?
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
GREAT!!!
You may now proceed to the main lesson.
IV. LESSON PROPER
Based on the preliminary activities, what did you notice about it?
_______________________________________________________
CONGRATULATIONS!
You may now proceed to the lesson.
Let’s Begin!
Setting Product Strategy
Product: anything that can be offered to a market to satisfy a want or need, including physical goods,
services, experiences, events, persons, places, properties, organizations, information, and ideas.
Customer-value hierarchy: 5 product levels
1. Core benefit - the service or benefit the customer is really buying
2. Basic product - to turn the core benefit into a basic product
3. Expected product - a set of attributes and conditions buyers normally expect when they purchase this
product
4. Augmented product: exceed expectations (developed countries: brand positioning, competition;
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