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Product Management

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  • Course
  • Management
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  • Management

Product Management presentation discusses the nature of products and services, characteristics of products, product mix, product branding, product packaging, product life cycle, new product development, pricing strategies, factors influencing pricing decisions, internal factors to consider when se...

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Document information

  • March 27, 2024
  • 99
  • 2020/2021
  • Presentation
  • Unknown

Subjects

  • product
  • management
  • nature
  • services
  • characteristic
  • mix
  • branding
  • packaging
  • life cycle
  • development
  • pricing
  • strategies
  • factors
  • influencing
  • decisions
  • internal
  • consider
  • setting
  • price
  • external
  • competitions
  • o

Written for

  • Management
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Content preview

C8 Marketing Management

Units 6-9




8/7/2014 1

, C8 Marketing Management Part A
• Unit 6 - Product Management
• Unit 7 - Pricing Strategies

C8 Marketing Management Part B
• Unit 8 - Distribution Decisions
• Unit 9 - Role of Marketing Communications



8/7/2014 2

, Unit 6 – Product Management
 We buy products to acquire the benefits which they offer to
us.
– We buy washing machine because we need speedy
washing of clothes, not because we like washing machine.
 Marketer should be able to distinguish between the features
of a product and its benefits.
 Features – describe the characteristics of a product
– A business loan has the feature of fixed rate of interest.
 Benefits – value which its features provide to a customer.
- The feature of a fixed rate of interest gives this type of
business loan account the benefit of predictable
repayment amounts.
 A Product is a solution to a problem
8/7/2014 3

, Nature of Products & Services
 Theodore Levitt description of product.
 A total product is made up of the following
characteristics:
– The physical product or service
– The expected product
 Includes price, packaging, availability, after sales etc
– The augmented product
 Ability to differentiate the product through added
benefits
– The potential product
8/7/2014 – Ultimate combination of product and service 4

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