PRODUCT AS AN ELEMENT OF MARKETING MIX

WHAT IS A PRODUCT IT IS AN OVERALL CONCEPT OF OBJECTS OR PROCESSES WHICH PROVIDE SOME VALUE TO THE CUSTOMER CUSTOMERS ARE IN FACT BUYING SPECIFIC BENEFITS AND VALUE FROM THE TOTAL OFFERING. THIS TOTAL OFFERING IS TERMED AS AN OFFER. OFFER IS A CORE IN THE CENTRE- SURROUNDED BY SERIES OF BOTH TANGIBLE OR INTANGIBLE FEATURES,ATTRIBUTES AND BENEFITS. THESE INCLUDE PACKAGING, ADVERTISING, FINANCING, AVAILABILITY, ADVICE, WARRANTY. THE OFFER CAN BE VIWED AT SEVERAL LEVELS 1. CORE-(GENERIC) 2. EXPECTED PRODUCT (MINIMUM PURCHASE CONDITIONS) 3. THE AUGMENTED PRODUCT (USEFUL IN DIFFERENTIATION) 4. THE POTENTIAL PRODUCT.(REDEFINITION OF PRODUCT)

BRANDING AND DIFFEERENTIATION THE LEVELS BEYOND CORE REPRESENTS OPPORTUNITIES TO PRODUCE ADDED VALUE TO CUSTOMERS VALUE IS ADDED THROUGH THE CREATION OF STRONG BRAND..BRANDING CAN HELP IN ASSURING THE CUSTOMERS OF UNIFORM SERVICE QUALITY. LEADING BRANDS IN SERVICES– HDFC, SBI, JET AIRWAYS, YAHOO MAIL, GOOGLE,LIC, CNBC,RUBY HALL CLINIC, TAJ GROUP OF HOTELS, IIMS, IITS,.

DEVELOPING NEW SERVICE PRODUCTS IN ANY SERVICE PRODUCT MARKETING RESEARCH CAN BE USED TO KNOW CUSTOMERS EXPECTATINS. INSTEAD OF RELYING ON GUT FEELING-MARKET SURVEY CAN PROVIDE VALUABLE INPUTS FOR SERVICE DESIGN –MORE PARTICULARLY THE FEATURES CONSUMERS EXPECT. THIS CAN REMOVE THE BLIND SPOTS. THERE CAN BE CUSTOMERS DRIVEN SERVICES DESIGNS AND STANDARDS AS WELL AS COMPANY PERCEPTION OF CONSUMER EXPECTATIONS AND STANDARDS. FREQUENTLY A GOOD SERVICE IDEA FAILS BECAUSE OF DEVELOPMENT, DESIGN AND SPECIFICATION FLAWS. BECAUSE SERVICES ARE PRODUCED AND CONSUMED SIMULTANEOUSLY AND OFTEN INVOLVE INTERACTION BETWEEN EMPLOYEE AND CUSTOMERS – NEW SEERVICE PRODUCT DEVELOPMENT SHOULD INVOLVE BOTH.

TYPES OF NEW SERVICES ALL NEW SERVICES ARE NOT NEW IN THE SAME DEGREE TYPES MAJOR AND RADICAL INNOVATIONSFIRST TV BROADCAST START-UP NEW SERVICES FOR THE MARKET ALREADY SERVED.THAT MEET THE SAME GENERIC NEED. (SLEEPER COACH) NEW SERVICES FOR CURRENTLY SERVED MARKET –SERVICES NOT PREVIOUSLY AVAILABLE – E-BANKING, ATM. SERVICE LINE EXTENSION– SHARE BROKER OFFEERING DEMAT SERVICE. SERVICE IMPROVEMENT – MOST COMMON TYPE– CHANGES IN THE FEATURES OF THE SERVICESFASTER DELIVERY, EXTENDED HOURS, ADDED AMENITIES IN THE HOTEL ROOM. STYLE CHANGES –COLOUR SCHEME OF HOTEL, CROCKERY, WAITERS UNIFORM, FURNITURE...

SERVICE DESIGN – STEPS A PERFECT SERVICE DESIGN AT A GIVEN POINT OF TIME MAY GET OUTDATED AND UNSATISFACTORY WITH PASSAGE OF TIME THE ULTIMATE TEST OF SERVICE DESIGN IS CUSTOMER SATISFACTION, MEASURED ON REGULAR BASIS. STAGES 1. DEFINING DESIGN ATTRIBUTES. 2. SETTING DESIGN PERFORMANCE STANDARDS. 3. GENERATING AND EVALUATING DESIGN CONCEPTS. 4. DEVELOPING DESIGN DETAILS 5. IMPLEMENTING THE DESIGN 6. MEASURING PERFORMANCE 7. ASSESSING SATISFACTION 8. IMPROVING PERFORMANCE. DESIGN DEVELOPMENT IS A CONTINUOUS PROCESS.

QUALITY FUNCTION DEPLOYMENT A SYSTEM OF TRANSLATING CUSTOMER REQUIREMENTS INTO APPROPRIATE COMPANY REQUIREMENTS AT EVERY STAGE DESIGN,DEVELOPMENT,INSTALLATION,DISTRIBUTION. ELEMENTS 1. CUSTOMERS EXPECTATIONS 2. IMPORTANCE OF EXPECTATIONS 3. CONTROLLABLE ELEMENTS OF SERVICE 4. RELATIONS AMONG ELEMENTS 5. ASSOCIATION BETWEEN EXPECTATIONS AND SERVICE ELEMENT 6. DVERALL IMPORTANCE OF SERVICE ELEMENTS FOR MEEETING CUSTOMER EXPECTATIONS ZONE OF TOLERANCE– DESIRED SEERVICE/ADEQUATE SERVICE.