Setting Product Strategy Maica Sy Ateneo Graduate School of Business V60 Marketing Management Professor Bong De Ungria May 9, 2013
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Setting Product Strategy
Maica Sy
Ateneo Graduate School of BusinessV60 Marketing Management
Professor Bong De UngriaMay 9, 2013
6 Key Concepts
Product1. Purpose is to satisfy wants and needs2. Following a hierarchy with a sequence3. To be classified in 5 different levels4. Determined in ways to classify the products5. Emerging to different categories6. And sets objectives to identify the brand
What is Product?
• Most important element of marketing mix• Anything offered to the market to satisfy
customers’ needs, wants, & demands.
Concept 1
SM Products
• Products can be goods, services, entertainments, events, places and ideas.
EventsGoods Services
Example 1
Product Hierarchy
Item
Product Type
Product Line
Product Class
Product Family
Need Family
Concept 2
SM Dept. Store Product HierarchyExample 2
5 Product LevelsConcept 3
5 Product Levels
• Core Benefit : Transportation from one place to another.
• Actual Product : Brand of the car, looks and design of the car.
Example 3
5 Product Levels
• Expected Product : Decent mileage, proper engine, inflated tires.
• Augmented Product : After-sale services, insurance policy.
Example 3
5 Product Levels
• Potential Product : May run more smoothly as it wears off a little.
Example 3
Product Classification
• For marketing mix strategy
Concept 4
Product Classification
• Organizes products for a variety of purposes.
Durable- a good that does quickly
wear out
Non-durable- goods that are immediately consumed.
Service- an intangible commodity
Example 4
Product Mix
• Is an array of all products a particular seller is putting up for sale.
Concept 5
Emerging to Fashion TrendsExample 5
Packaging
• Used as a marketing tool• Includes all activities of designing and
producing the container of the product
Concept 6
Selling the Product by Packaging
• To identify brand
• Convey descriptive
Concept 6
Selling the Product by Packaging
• Facilitate product transportation & protection
• Aid product & consumer consumption
Concept 6
Selling the Product by PackagingExample 6
Remember This!
Mastering Marketing Concepts through Stories, Images, & Diagrams
Concept 5: Emerging to different categories
• To cope up with the current trends to be able to make it on top.
6 Key Concepts
Product1. It’s main purpose is to satisfy wants and needs2. Following a hierarchy with a sequence3. To be classified in 5 different levels4. That is determined in ways to classify the
products5. That are differentiated by 9 factors6. And sets objectives to identify the brand
Setting Product Strategy
Maica Sy
Ateneo Graduate School of BusinessV60 Marketing Management
Professor Bong De UngriaMay 9, 2013
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