This document defines key product-related terms and discusses different levels and types of products, branding, packaging, product lines, and product mix decisions. It defines a product as anything offered in the market that might satisfy a want or need. Products have three levels - the core product or benefit, the actual product including features and packaging, and the augmented product which includes additional services. Products are also classified as consumer, industrial, or services. The document discusses branding, packaging functions and decisions, factors in packaging decisions, product line decisions about length and filling, and defining a company's product mix.

1. Products

3. Some terms to Remember: Brand Brand name Capital Items Consumer Goods Convenience Goods Copyright Durable Goods Industrial Goods Materials and Parts Non-durable Goods Packaging Product Product line Product Mix Services Shopping Goods Specialty Goods Trademark Unsought Goods

4. What is a Product? A product is defined as anything that can be offered in the market for attention, acquisition, use or consumption that might satisfy a want or need.

5. Three Levels Product After-Sales Services Augmented Product Packaging Core Product Core Benefit Or Service Brand name Features Instillation Delivery and Credit Quality Styling Actual Product Warranty

6. Core Products- a part of the total product that the consumer is actually buying. Actual Product- this includes the products name, label, packaging, features, and a quality level. Augmented Product-is the part where the seller provides additional services and privileges to consumers who bought the product.

7. Classification of Products Consumer Products Convenience Goods Shopping Goods Specialty Goods Unsought Goods Homogenous Products Staple Goods Impulse Goods Heterogeneous Products Emergency Goods

9. Fluctuating Demand

10. Limited Market

12. Long Negotiating Period

13. Infrequent Sales

15. Major equipment

16. Accessory equipment

17. Component Parts

18. Process Materials

19. Consumable Supplies

21. Brand name is that part of a brand which can be spoken- including letters, words and number. Brandis a name, term, design, symbol, or any feature identities ones seller’s good or services as distinct from those of other seller. A brand may Identify one item, a family of items, or all items of that seller.

22. Brand mark is the element of a brand that is not made up of words, but is often asymbol or design. Trademark is a legal designation indicating that the owner has exclusive use of a brand and those others are prohibited by law from using it. Trade name is a full and legal name of an organization such as Toyota Company, rather than the name of a specific product.

23. Benefits of Branding Branding provides benefits for both buyers and sellers. Brands help buyers identify specific products that they do not like, which in turn facilities the purchase of items that satisfy their needs and reduces the time required to purchase the product.

24. Brand Decisions Consumers view a brand as an important part of the product and branding can add value to the product. Branding Decisions Brand Sponsor Decision Brand Quality Decisions Family Brand Decisions Brand Extension Decision Multi Brand Decisions Brand Repositioning

25. Packaging and Labeling Package is a container used to protect, promote, transport, and/or identify a product. Packaging is that part of product planning, in which company researches, designs, and produces its package(s). Label indicates the products’ brand name, the company logo, ingredients, promotional messages, inventory, control codes, and/or instructions for use.

26. Basic Packaging Functions: Containment and protection Usage Communication Segmentation Channel cooperation New- product planning

27. Factors considered in Packaging Decisions: What image is sought? Should family packaging be used? What should costs be? What size(s), color(s), and shape(s) are used? Should items be individually wrapped?

28. Criticisms of Packaging: -Packaging is faulted for waste, misleading labels. Benefits of Packaging: Communication Benefits Functional Benefits Perceptual Benefits

29. Packaging Decisions Many products offered to the market have to be packaged. Most marketers treat packaging as an element of product strategy. Packaging is the activity of designing and producing the container or wrapper of the product.

30. Product Line Decision- a group of products that are closely related, either because they function in a manner or are sold to the same group of customer groups, are marketed through the same types or outlets, or fall within given prices ranges. Product Line Length Decision- more or less determines the company’s objectives or vice- versa.

31. Product Line Stretching Decision- occurs when a company lengthens its product line beyond its current range. Product Line Filling Decisions- a product line can also be developed by introducing more new products within the present range.

32. Product Mix Decisions A product mix is the set of all product lines and items that a particular seller offers for sale to buyers. A company’s product mix will have certain features: width, depth, length, and consistency.