MARKETING I Product/Service Planning. What is Product/Service Planning The process of planning and implementing strategies to obtain, develop, maintain.

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Presentation transcript:

MARKETING I Product/Service Planning

What is Product/Service Planning The process of planning and implementing strategies to obtain, develop, maintain and improve a product or product mix.

Role of Product Service Planning  generating and screening ideas for a product/service  developing and testing the product/service introducing the product/service to consumers  evaluating consumer acceptance of the product/service improving the product/service to meet consumer needs and wants. Need to understand the business’ product mix!

Product Mix All of the products/services offered within a business

Product Line A group of closely related products manufactured or sold by a business Example: NIKE Men’s Outerwear is a product line

Product Item A specific model, brand, or size of a product within a product line NIKE Delt Force shoe

Product Width The number of different product lines a business manufactures/sells OR the products a company produces separated into different categories Shoes Outerwear Accessories

Product Depth Men's Outerwear The number of ITEMS offered within each product item. Also deals with the number of different versions of a product- Example: varieties of toothpaste

Falcon’s Nest Product Mix of Tee Shirts Product Line- Tee-Shirts Short Sleeved; Long Sleeved; Ladies Cut Product Item- Gildan Short Sleeved Tee Shirt; Falcon Head Logo Product Width - Gildan; MV Sport; Jerzee Product Depth- Falcon Head; FALCONS; Bling; Logo Outline; Orange, Navy; White; Gray; Sizes S-2X

Activity Select 2 Product Lines & apply:  Product Width & Product Depth 50 Points

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