1. Product

2. Marketing Mix Marketing Mix = ‘All activities which go into the marketing of a product (goods and services) to help the business sell the product'. It is often known as the 4P’s ProductPlace Price Promotion

3. 4 P’s…Definitions Product = ‘The product itself, its design & quality. How does it compare to the competitors products’?

4. Classification of Goods & Services There are different types of goods and services according to certain characteristics that they may have: Consumer goods and services - these are goods and services that we consume (i.e. that satisfy our needs or wants). They can be either: Single use, e.g. a chocolate bar, a can of coke OR Durable use e.g. a chair, a computer.

5. Classification of Goods & Services ProductConsumer Goods Consumer Service Producer Goods Producer Service Tube of toothpaste Bottle filling machine Accounting services Pair of sports shoes Chocolate Bar Doctors treatment of patient Office cleaning Factory building Coffee iPod Car production robot Brazil Nuts

6. Classification of Goods & Services ProductConsumer Goods Consumer Service Producer Goods Producer Service Tube of toothpaste Bottle filling machine Accounting services Pair of sports shoes Chocolate Bar Doctors treatment of patient Office cleaning Factory building Coffee iPod Car production robot Brazil Nuts

7. SUCCESSFUL PRODUCT Satisfies existing needs & wants of a customer Capable of simulating new wants from the consumer Design, Performance, Reliability, Quality What makes a successful product? The first business to produce a new product, or changes, before the competition Not too expensive to be produced (relative to the selling price) Has something very distinctive that make it appear different

8. Product Branding (or the person buying the items) Brand Name = ‘The unique name of a product that distinguishes it from other brands’ Brand Loyalty = ‘Consumers keep buying the same brand again and again instead of another brand’ Brand Image = ‘An image given to a product which gives it, its own personality’

9. PRODUCT BRANDING Advertising to reinforce brand qualities Higher Prices than unbranded goods Unique Name Product Branding Creates a brand image Unique Packaging Higher Quality Customer Loyalty

10. Brand Stretching Brand Stretching = ‘Using the strength of the brand to introduce new products and services’

11. Product Differentiation Product Differentiation = ‘Making one product different from another, through quality, design, packaging or advertising’

12. Product Packaging Product Packaging = ‘The physical container or wrapping for a product. It is also used for promotion and selling appeal’