Product and Service Management
[Pages:6]Product and Service Management
Unit 2
Product Planning
Making decisions about features of products/services. Products
Packaging Labeling Branding Services Warranties
Product Mix
Includes all products that a company makes or sells. Example: Kraft's Brands
Kraft ? Maxwell House ? Nabisco ? Oreo ? Philadelphia ? products Variations in Product Mixes International Kraft Brands Grand Mere ? (popular coffee in France) Trakinas ? (cookie sold in Argentina)
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Companies usually opt to sell more than one product brand. Security of sale Prevents dependence on one product. Diversity among customers
Product Line vs. Product Item
Product Line Product Item
Think of 3 product lines ... ... ... Think of 3 product items ... ... ...
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Product Width vs. Product Depth
Product Width Product Depth
Think of 2 companies that have a diverse product width and list the product lines. Think of 2 companies that have a significant product depth to offer customers and identify the components of that depth.
Product Mix Strategies
1. Developing New Products new products account for approximately 35% of total
sales for major consumer and industrial goods companies. Consumer good Industrial good
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2. Developing Existing Products Expansions to product lines or modifications to products.
Builds on an established image Appeal to new markets Increase sales and profit Line Extensions Tylenol Tylenol Flu,Tylenol Cold,Tylenol PM,Tylenol Allergy and
Sinus Product Modifications
Colour, packaging, design, styles, features.
3. Deleting a Product or Product Line Decision to no longer produce or sell a product or
even whole line. . . . . . .
The Product Life Cycle
Stages that a product passes through from start to finish of its life span. Introduction
Growth
Maturity
Decline
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Introduction Growth Maturity Decline
Product Positioning
Effort made a company to identify, place and sell products in the marketplace.
There are 4 ways to position products: By price and quality By features and benefits
In relation to the competition In relation to other products in a line
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EVERY YEAR BETWEEN 60-80% OF NEW GROCERY
STORE PRODUCTS FAIL
Category Management
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