The Product Mix
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Transcript of The Product Mix
Fine-Tuning the Product
The Product Mix
Options
Features
Uses Guarantee
Packaging
Brand Name
Services
The Product
Product Features
• After basic product is identified, features can be added.
• Car: seat belt, mirrors, safety bumpers are all required featuresOptional: carpeting, reclining seats, etc.
Options
• Features are not a choice, but options give you a choice.
• Phone: call waiting, call forwarding, data plans, texting plans, etc.
Services
• Service plans, insurance plans, etc.
Brand Name/image
• Choosing a product based on name recognition. Loyalty to a product or brand.
• Image – a unique, memorable quality of a brand.
• Could be an image of quality, low price, innovative. Must match the needs of the customer.
Guarantee/Warranty
• Offered by companies to provide customers the assurance that the produce will be repaired or replaced if there are problems.
• Show of good faith, trust in the product.
Packaging
• Provides protection and
security for the product
• Provides information that helps the customer make a better purchasing decision
• Attracts attention, demonstrating uses of the product, and more.
Uses
• Increase the number of uses of the product
Baking Soda – not used to bake bread as much so they highlighted its uses in refrigerators, freshening litter boxes, brushing teeth, etc.
To Do:Pick a product & Describe in a clear list the following:
1.The Basic Product
2.Options (either by the company or its competitors)
3.Services
4.Features
5.Brand Name/Image (include logo)
6.Guarantee/Warranty
7.Packaging
8.Uses
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Options
Features
Uses Guarantee
Packaging
Brand Name
Services
The Product