The document discusses the 4 P's of marketing - product, price, place, and promotion. It focuses on the product P, explaining that a product can be a good, service, idea, or experience designed to satisfy customer needs. Key aspects of a product include its design, assortment, branding, packaging, services, guarantees, and managing its life cycle. The document also discusses product launch steps and timing, as well as product life cycle models like the BCG matrix.

1. by:
Ms. Janaki K
Assistant Professor , Department of Commerce
SRM Institute of Science and Technology
Ramapuram, Chennai.

2. 4P’S OF MARKETING
 There are 4 P’s in Marketing which are often referred
to as the elements of Marketing Mix
 PRODUCT
 PRICE
 PLACE
 PROMOTION

3. PRODUCT
 It is physical component or service
 It is designed to satisfy the customer needs and wants
 It may be tangible (Goods) or intangible (Services,
Ideas and Experiences)
 It may be designed to counter the existing product
 It may be designed for a niche market
 It may be designed for a specific purpose
 It may be designed for a specific target market
 It may be designed as an alternative product to replace
an existing product

4. Features of the Product
 Product Design – features and quality
 Product Assortment – Product Range, Product Mix
and Product Lines
 Branding
 Packaging and Labeling
 Services (Complimentary Service, After-Sale Service
and Service Level)
 Guarantees and Warrantees
 Returns
 Managing products through a product life cycle

5. PRODUCT LIFE CYCLE

6. BCG MATRIX

7. PRODUCT LAUNCH
 It is a planned effort to bring a new product to the
market
 Goal of an effective product launch:
 Ensure that everyone inside the company are aware of
this new product
 Ensure that your partners know about this new product
 Finalize the target customers for this new product
 Ensure that these target customers know about this new
product

8. PRODUCT LAUNCH STEPS AND
TIMING

9. STAGES OF LAUNCHING A NEW
PRODUCT
 Meeting users’ needs
 Know your competition
 Make a prototype and test it
 Reconfigure your product
 Run the numbers
 Build anticipation by pre-marketing
 Build a solid supply chain
 Network and share your product
 Reach out to the press post-launch
 Consider public feedback post-launch