Product and Service Management - Weebly
[Pages:3]10/5/2015
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)
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 ... ... ...
1
Product Width vs. Product Depth
Product Width
Product Depth
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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
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
2
Introduction Growth Maturity Decline
In relation to the competition In relation to other products in a line
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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
EVERY YEAR BETWEEN 60-80% OF NEW GROCERY
STORE PRODUCTS FAIL
Category Management
3
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