Activity-Sheet-1-Product-Principles-of-Marketing.docx -...

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1of12HIGH SCHOOL DEPARTMENTSY. 2020-2021WEEK14ACTIVITY SHEETCOURSE SUBJECT:PRINCIPLES OF MARKETINGSUBJECT TEACHER:LESSON:4Ps of Marketing: PRODUCTPRODUCTAnything that can be offered in the market for attention, acquisition, use orconsumption that satisfy a need or want. It not only includes physical objects, butalso persons, ideas and services well.THREE LEVELS OF PRODUCT VIEWThere are 3 levels that a product should be viewedLEVEL 1: Core Product-This is a part of the total product that the consumer is actually buying.-Say for example, in fragrances, the core product is the perfume itselfnot the perfume bottle or the other privileges such as discounts orvouchers.LEVEL 2: Tangible or Actual Product-This includes the products’ name, label, packaging, features and aqualitylevel.-We can say that this level provides the consumer a clearer and morematerial image of the total product.-This level creates the product’s personality.LEVEL 3: Augmented Product-This is the part where the seller provides additional services andprivileges to consumers who bought the product.-These services may take several forms like free maintenance ordiscounts or additional purchases.CLASSIFICATION OF PRODUCTS1.CONSUMER PRODUCTSProducts that are purchased to satisfy personal and family needsIn developing the overall product, the marketer or the seller must identifythe consumer basic needs (core) helping him design a product (tangible)that would satisfy these needs. The seller then adds more benefits andprivileges (augmented) to bring out the optimum satisfaction ofconsumers.
FOUR CATEGORIES OF CONSUMER PRODUCTS1.1.CONVENIENCE PRODUCTSoAre items that consumers want to buy with the least possibleshopping effort.oThese items are relatively inexpensive and frequently purchaseditems.oExamples are bread, soft drinks, chewing gum and newspaper.Types of Convenience Productsa.Staple items.Are convenience products for which consumersusually do some planning. Food items are good example.b.Impulse items.These products are purchased because of astrongly felt immediate need. Examples are candies, novelties andballpens.
c.Emergency products.Are items that are needed to solve animmediate crisis. An example is an adhesive bandage.1.2.SHOPPING PRODUCTSoAre items for which buyers are willing to spend considerable effortin planning and making the purchase.oBuyers allocate much time for comparing stores and brands withrespect to prices, product features, qualities, services and perhapswarranties.oExamples are appliances, furniture, gadgets and cars.Types of Shopping Productsa.HomogenousProducts.Are perceived asbeingessentiallysimilar. These products pose problems for marketers because theyare similar and must be differentiated in consumer’s mind.

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Term
Fall
Professor
N/A
Tags
Marketing, Brand

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