Understanding Product Classification and Diversification Strategies

Explore the classification of products into tangible goods and intangible services, along with consumer product categories like convenience, shopping, and industrial products. Learn about product diversification with examples from companies like Unilever. Discover the product life cycle and unique product examples like Post-It notes and the Healthy Choice Restaurant.

• Product Classification
• Diversification Strategies
• Consumer Products
• Product Life Cycle

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Uploaded on Oct 04, 2024 | 0 Views

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1. Product(ion) Plan Prepared By : Genoveva (email : genoveva.claudia@gmail.com)

2. Classified of Product(ion) Tangible / Goods : is any physical product that can be touched like a computer, a car, a pen Intagible / Services : is a non-physical product like an insurance policy, tour packages, car repair services.

3. Classified of Product(ion) Consumer Product Convinience product Daily product, exp. Soap,toothpaste, deterjent. Specially product Unique characteristics / brand identification in which a significant group of buyers is willing to do a special purchase effort. Exp. doctor and lawyer services. Unsought product consumers usually do not think to buy it. Exp. life insurance, funeral services. Less frequently purchased and customer to compare the suitability, quality, price, and style of the product carefully. For example: furniture, clothing, car. Shopping product the

4. Industrial Product These are items consumed by businesses in their production or manufacturing process Exp. Integrated circuit, Ball bearing

5. Product Diversification Example : Unilever Company Shampoo : Sunsilk, brisk, Pantene Toothpaste : Pepsodent Deodorant : rexona Butter : Blue Band Deterjent : Rinso, Surf Soap : Lux, Dove The product diversification strategy is different from product development in that it involves creating a new customer base, which by definition expands the market potential of the original product.

6. Product Life Cycle

7. EXAMPLES OF UNIQUE PRODUCTS Post It : Small Flashy colors Very helpful

8. HEALTHY CHOICE RESTAURANT The uniqueness of the restaurant : Low calorie foods served Organic vegetables Suitable for the diet Safe sugar for diabetics

9. Joger (factories words) Joger produce : Unique products, examp. Clock that run backwards * T-shirt with unique words.