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Chapter 9: Product- The Online Ofer
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Ty p e s o P ro d u c t sThe classication o products is essential to
business because it provides one o the actors
or determining the strategies needed to move
them through the marketing system The t!o
ma"or classes are #$% business products and #$$%
consumer products
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$$ Consumer ProductsConsumer products are products purchased or
personal( amily( or household use They are oten
grouped into our subcategories on the basis o
consumer buying habits:
*% Convenience products
+% 4hopping products
/% 4pecialty products
2% 'nsought products
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Consumer Products
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Product 1i) 6 Product 7ine
Product Mix: ,ll the products a given
company produces orm the product mi)
Product Line : , product line !ould be a
group o these products associated by
category #or unction% , company could
have one line or several lines( but all the
products !ithin this line or lines !ould
orm the Product 1i)
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Product 7ine 8epth 6 Product 1i) idth
Product Line Depth: the number o
products items in a specic product line
Product Mix Width: The number o
product lines an organiation ofers
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&roadening 6 8eepening o the Product
, broadening of the product - features
: add ne! eatures to the e)isting eatureso the product in order to e)tend themarket segments to !hich the product istargeted and e)pand sales to a ne! marketsegments
, deepening of the product - features :
make e)isting eatures more detailed orelaborate on e)isting unctionality Personalization of goods, services,communications, and experiences
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&rand .uity Brand euit! is a phrase used in the marketing industry
!hich describes the value o having a !ell-kno!n brandname( based on the idea that the o!ner o a !ell-kno!n
brand name can generate more money rom products !ith
that brand name than rom products !ith a less !ell kno!n
name( as consumers believe that a product !ith a !ell-kno!n
name is better than products !ith less !ell-kno!n names
4ome marketing researchers have concluded that brands are
one of the most valuable assets a compan! has( as
brand e.uity is one o the actors !hich can increase the
nancial value o a brand to the brand o!ner( although not
the only one
ran .u y e n ang e nanc a a ue o a
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ran .u y - e n ang e nanc a a ue o a&rand
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www.ge.com
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"""#cnnsi#com
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1i t= T ' 7 b l
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1icrosot=s Terms o 'se 7abel
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P d t 1i 4t t i t
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Product 1i) 4trategies( cont
$irms "ill select one of the follo"ing strategies,
based on mar%eting ob&ectives, ris% tolerance,resource availabilit!, etc#
'# Discontinuous innovations are ne"-to-the-"orld products#
(# )e"-product lines are ne" products in adi*erent categor! for an existing brandname#
+# dditions to existing product lines#
# .mprovements or revisions of existingproducts#
/# 0epositioned products can be targeted todi*erent mar%ets or promoted for ne" uses#
1 Me too lo"er cost products
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