1. Facilitator- Prof Brajesh Bolia
Product Management
Facilitator- Prof Brajesh Bolia

2. Assumptions for this Session
Mobiles Off / Silent mode
Whatever we discuss in this session is for understanding of the subject and concepts only and not meant to hurt anyone’s feelings/sentiments.
Anything Else ?????

3. What is a Product?? Solution/Answer……
Anything which satisfies a need or want…………is a Product (Goods / Ideas / Services)
Can be Tangible or Intangible………

4. Product
Some more things about PRODUCTS

5. Levels of Product We take example of a Hotel Core Benefit-
rest sleep
Basic Benefit-
room, toilet, water, bed…
Expected Benefit-
clean bed, working lights fans, clean room, running water…
Augmented Benfit-
Anything which exceeds expectation
Potential Benefit-
Future product covering all augmentations in the product

6. Product Mix
Set of all products & items, a particular seller offers for sale.
Product Mix consists of all product lines.
……..e.g. TATA group

7. Product Mix
Width- How many different product lines the company carries.
Length- Total numbers of items in the line.
Depth- How many variants are offered in each item in the product line.

8. Product Mix -HLL HLL Product Mix Product Line 1 Product Line 2
bath soaps
fabric wash
beverages
dove
surf
bru
liril
rin
brooke bond red label
pears
wheel
lipton green
rexona
taaza
lifebuoy
taj mahal
hamam
breeze

9. Classification-Products
Durability & Tangibility-Durable, Non Durable & Services
Consumer Goods- Convenience goods, shopping goods, specialty goods
Industrial Goods- material & parts, capital goods, supplies

10. Product Life Cycle
PLC

11. Innovation w.r.t. PLC
Marketers have to continuously innovate the product to delay the decline stage……… plc 2.bmp
e.g. bikes….every month a new model……..cars……..laptops…….mobiles……….etc….

12. New Product Development

13. What is a New Product?? New to the world
Improvements & revisions of existing products- MOBILE Phones, cars, etc….
Repositioning – Milkmaid & Maruti Van

14. New Product Development Decision Process
Idea Generation
Idea Screening
Concept Development
Marketing Strategy Development-Marketing Mix – 4 Ps
Business Analysis – Break Even, Profit & Risk Analysis
Product Development
Physical prototype & customer testing
Market Testing
Pilot launch to see the performance. Sometimes skipped if the time pressure is there to launch for seasonal product like umbrella…….
Commercialization
----When( First Entry Parallel Entry, Delayed entry), Where (Geographic locations) , To whom ( target segment) & How ( Marketing Strategy)

15. A Good Creative
Shadow.wmv`

16. Small Interruption/Recall before we go ahead…………..
OUT OF THE BOX THINKING……….
Join the dots by 4 straight lines without lifting the Pen/Pencil.

17. Create an Innovative Product
Eco Friendly Product & Affordable to Masses
Name
LOGO
Punch line
Create one Print Advertisement & one TV advertisement
( Each Group of 5 members)

18. brajeshbolia@simsr.somaiya.edu +91 97028 02460
Thank You