Product-Layers Features & Classification
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The document provides an overview of product layers, features, and classifications as part of a presentation by Mahtab Alam from Trinity Institute of Professional Studies. It defines products as outcomes ready for sale based on market needs, detailing explicit characteristics like physical attributes, associated services, packaging, product mix, and life cycle, as well as implicit characteristics including symbolism and communication. Additionally, it categorizes products into consumer goods, industrial goods, tangible/intangible goods, and durable/non-durable goods.
Product-Layers Features & Classification
- 1. TRINITY INSTITUTE OF PROFESSIONAL STUDIES Sector – 9, Dwarka Institutional Area, New Delhi-75 Affiliated Institution of G.G.S.IP.U, Delhi Disclaimer: All content of this Presentation are for classroom Teaching & learning only, not to be used for any other purpose. MAHTAB ALAM Assistant Professor Management Department Product-Layers Features & Classification
- 2. TRINITY INSTITUTE OF PROFESSIONAL STUDIES Sector – 9, Dwarka Institutional Area, New Delhi-75 Product-Definition Meaning & Definition Product is the outcome of all inputs after processing in tangible or intangible form which are ready to sell or consume. Product is developed after studying the need & wants of target market to make it more successful. “A product may be regarded from the marketing point of view as a bundle of benefits which are being offered to consumer.” --Rustom.S.Davas--
- 3. TRINITY INSTITUTE OF PROFESSIONAL STUDIES Sector – 9, Dwarka Institutional Area, New Delhi-75 Layers of product
- 4. TRINITY INSTITUTE OF PROFESSIONAL STUDIES Sector – 9, Dwarka Institutional Area, New Delhi-75 Product-Features A. Explicit Characteristics: Explicit product characteristics are those the perception of which is reasonably uniform among the observers. That is, there is a common agreement as to both the existence and the nature of these attributes. There are five such attributes: 1. Physical configuration: Most obviously, product is a bundle of physical stuff. It is made up of certain materials wood, plastic, glass, stone, metal, etc., related in a particular way. Every product has its own shape, size, density, odour, taste, texture, colour, weight and host of other such physical attributes.
- 5. TRINITY INSTITUTE OF PROFESSIONAL STUDIES Sector – 9, Dwarka Institutional Area, New Delhi-75 2. Associated services: Products are sold with the common understanding that the seller will render associated services in case of each product. These are before and after-sale services. ‘Before-sale’ services are its demonstration, credit-facilities available and the ‘after-sale’ services are its delivery, installation, making available spare-parts, repair services to maintain the operating condition of the product and warrantees expressed or implied. 3. Package and brand name: It is useful to consider package as the part of product, because, it is sometimes difficult to separate a product into ‘contents’ and ‘package’. For instance, aerosol shaving creams, deodorants, cleansers,
- 6. TRINITY INSTITUTE OF PROFESSIONAL STUDIES Sector – 9, Dwarka Institutional Area, New Delhi-75 4. Product mix: These points out the relationship to other products sold by the firm or made and sold by the firm. A seller considers the width, depth and consistency of products offered. ‘Width’ refers to how many different product-lines; ‘depth’ stands for the average number of items within each product-line and the ‘consistency’ means the similarity among the product lines. 5. Product-life-cycle: At any point time, a product can be located in some stage of its existence. Through time, the industry sales of a given product follow a characteristic pattern of increasing at first slowly, then at increasing rate, then at decreasing rate and finally absolute sales begin to decline.
- 7. TRINITY INSTITUTE OF PROFESSIONAL STUDIES Sector – 9, Dwarka Institutional Area, New Delhi-75 B. Implicit Characteristics: The explicit product characteristics are seller oriented as they define the parameters. When one considers the product from the view point of consumer, these are not explicit. Each person sees the product in somewhat different and, therefore, unique way. What is the perception of one man is not the same in case of another. There are four such features: 1. Product symbolism: Product is the cluster of symbols. Among other things, a product is a symbol by virtue of its form size colour and functions. It is and it has significance which varies according to how much it is associated with individual needs and social interaction.
- 8. TRINITY INSTITUTE OF PROFESSIONAL STUDIES Sector – 9, Dwarka Institutional Area, New Delhi-75 2. Communication media: Because a product is the cluster of symbols, it is a bundle of communication also. Every product says something about it, itself. Product is a story teller of what it is? Why for it is used? At what rate? Made by whom? Where it is available? And so on. A piece of information is there with a product given or hidden. 3. Product perception & Evaluation Product Perception means how a consumer observe the product and analyse it in the mind then interpret it with some output in terms of features, quality, size & density etc.
- 9. TRINITY INSTITUTE OF PROFESSIONAL STUDIES Sector – 9, Dwarka Institutional Area, New Delhi-75 Classifications of Product Consumer Goods:
- 10. TRINITY INSTITUTE OF PROFESSIONAL STUDIES Sector – 9, Dwarka Institutional Area, New Delhi-75 Industrial Goods:
- 11. TRINITY INSTITUTE OF PROFESSIONAL STUDIES Sector – 9, Dwarka Institutional Area, New Delhi-75 Tangible & Intangible Goods:
- 12. TRINITY INSTITUTE OF PROFESSIONAL STUDIES Sector – 9, Dwarka Institutional Area, New Delhi-75 Durable & Non Durable Goods:
- 13. TRINITY INSTITUTE OF PROFESSIONAL STUDIES Sector – 9, Dwarka Institutional Area, New Delhi-75