4Ps Product

PRINCIPLES OF MARKETING
4 PS: PRODUCT
QUARTER 4 WEEK 1
At the end of the lesson, the learners are
expected to:
Define a product and differentiates the
product, services, and experiences.
REVIEW OF PREVIOUS LESSONS
What are the 4Ps of

Marketing?
4PS OF MARKETING
1. Product
2. Price
3. Place
4. Promotion
THINK ALOUD
What is Product?
PRODUCT
It is something that is made to be
sold or something produced by an
industrial process or something that is
grown or raised through farming.
KINDS OF PRODUCT
1. Goods
2. Services
3. Virtual or Digitized products
GOODS VS. SERVICES
GOODS VS. SERVICES
But how are they different

from each other?
COMPARISON CHART
BASIS FOR GOODS SERVICES
COMPARISON
Meaning Goods are the Services are
material items that amenities, facilities,
can be seen, touched benefits or help
or felt and are ready provided by other
for sale to the people.
customers.
COMPARISON CHART
COMPARISON
Nature Tangible Intangible
Transfer of Yes No
Ownership
Evaluation Very simple and easy Complicated
Variability Identical Diversified
COMPARISON CHART
COMPARISON
Return Goods can be Services cannot be
returned returned back once
they are provided.
Separable Yes, goods can be No services cannot
separated from the be separated from
seller the service provider.
COMPARISON CHART
COMPARISON
Storage Goods can be stored for Services cannot be
use in future or multiple stored
use.
Production and There is a time lag Production and
Consumption between production and Consumption of goods
consumption of goods. occurs simultaneously.
TRENDS IN PRODUCT DEVELOPMENT
1. INVENTION- it refers to creating

a product of imagination.
2. INNOVATION- It refers to a new

thing or a new method of doing
something
3. GLOBALIZATION- It refers to

preparing a product or service to be
offered in many markets or
worldwide
4. LOCALIZATION- It refers to the

adaptation of a product or service to meet
the needs of a particular language, culture
or desired population’s “look-and-feel.”
THE NEW PRODUCT DEVELOPMENT PROCESS
 Idea Generation
 Idea Screening
 Concept Development and Testing
 Business Analysis
 Product Development
 Marketing Testing
 Product Commercialization
STEP 1: Idea Generation
This is the initial stage of the new product
development process where any or all of several
idea generation techniques (need/problem
identification, attributes listing, brainstorming, etc.)
are used to generate as many new product ideas as
possible.
STEP 2: Idea Screening
The stage where ideas generate in the
initial step are screened using
predetermined criteria to reduce them
to a manageable few.
STEP 3: Concept Development and
Testing
This is where new product ideas are
converted to customer-centered product
concepts and tested by a representative
sample of consumers for acceptability,
believability, and potential intent.
STEP 4: Business Analysis
Pencil-pushing stage where, based on the
concept development and testing results,
probable sales of the new product are
calculated together with its cost and
potential profitability.
STEP 5: Product Development

The product concept is converted into a
tangible working prototype.
STEP 6: Market Testing
New product is marketed in a limited
geographical area to determine whether
fine tuning of attributes, positioning,
pricing, advertising, and promotions
program are necessary.
STEP 7: Product Commercialization

The final stage of the process where a new
product is launched.
TYPES OF PRODUCTS
1. Consumer Products

2. Business Products
PRODUCT ITEMS, LINES, AND MIXES
Product Item A specific version of a
product that can be
designated as a distinct
offering among an
organization’s products.
Product Line A group of closely-related
product items.
PRODUCT ITEMS, LINES, AND MIXES
Product Mix All products that

an organization
sells.
ADJUSTMENTS
Adjustments to Product
Items, Lines, and Mixes
Product Product Product Line

Modification Repositioning Extension or
Contraction
BRANDING
Brand Name That part of a brand

that can be spoken,
including letters, words,
and numbers
Brand Mark The elements of a brand
that cannot be spoken
BRANDING
Brand Equity The value of a company
and brand names
Global Brand A brand where at least a
third of the earnings came
from outside its home
country
BENEFITS OF BRANDING
1. Product Identification

2. Repeat Sales
3. New product sales
COBRANDING
Entails placing two or more

brand names on a product or its
package
TYPES OF COBRANDING
1. Ingredient Branding

2. Cooperative Branding
3. Complementary Branding
TYPES OF COBRANDING
1. Ingredient Branding

TYPES OF COBRANDING
2. Cooperative Branding

TYPES OF COBRANDING
3. Complementary Branding

TRADEMARKS
It is the exclusive right to use a brand.
It is a symbol, word, or words legally registered or
established by use as representing a company or product.
It denotes a specific product and legally differentiates it
from all other products of its kind.
TRADEMARK INFRINGEMENT
It is a violation of the exclusive rights
attached to a trademark without the
authorization of the trademark owner or any
licensees (provided that such authorization
was within the scope of the license).
TRADEMARK INFRINGEMENT
Infringement may occur when one party, the
“infringer”, uses a trademark which is identical or
confusingly similar to a trademark owned by another
party, in relation to products or services which are
identical or similar to the products or services which
the registration covers.
PACKAGING
It is the wrapping material around a
consumer item that serves to contain,
identify, describe, protect, display, promote
and otherwise make the product marketable
and keep it clean.
FUNCTIONS OF PACKAGING
Contain and Protect
Promote
Facilitate Storage, Use,
and Convenience
Facilitate Recycling
LABELLING
Is a display of information about
a product on its container,
packaging, or on the following
product itself.
LABELLING
PERSUASIVE INFORMATIONAL
Focuses on Helps make proper
promotional theme selections
Consumer information Lowers cognitive
is secondary dissonance
UNIVERSAL PRODUCT CODE
Universal Product Codes A series of thick and thin
(UPCs) vertical lines (bar codes),
readable by computerized
optical scanners, that
represent numbers used to
track products.
PRODUCT WARRANTIES
Warranty A confirmation of the quality
or performance of a good or
service.
1. Express Warranty A written guarantee.
2. Implied Warranty An unwritten guarantee that the
good or service is fit for the
purpose for which it was sold.
???
Test your
knowledge!
ANSWER FOR QUESTION #1
A mobile phone company decided to launch a new
model of their product. This is an example of:
A.Invention
B. Innovation
C. Globalization
D. Localization
It is a step in a new product development process
wherein there was a tangible working prototype is
being made.
A. Business Analysis
B. Product Development
C. Market Testing
D. Product Commercialization
It refers to a group of related products all marketed
under a single brand name that is sold by the same
company.
A. Product item
B. Product Line
C. Product Mix
D. Product Concept
A company decided to seize production of all slow-
moving items from one of its product lines, this is an
example of:
A. Product modification
B. Product repositioning
C. Product Line Extension
D. Product Line Contraction
It is part of a brand that can be spoken, including
letters, words, and numbers.
A. Packaging
B. Trademark
C. Labelling
D. Brand name
CORRECT ANSWERS
1. B
2. B
3. B
4. D
5. D

4Ps Product

Uploaded by

Copyright:

Available Formats

4Ps Product

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

4Ps Product

Uploaded by

Copyright:

Available Formats

PRINCIPLES OF MARKETING

What are the 4Ps of

But how are they different

1. INVENTION- it refers to creating

2. INNOVATION- It refers to a new

3. GLOBALIZATION- It refers to

4. LOCALIZATION- It refers to the

STEP 5: Product Development

STEP 7: Product Commercialization

1. Consumer Products

Product Mix All products that

Product Product Product Line

Brand Name That part of a brand

1. Product Identification

Entails placing two or more

1. Ingredient Branding

1. Ingredient Branding

2. Cooperative Branding

3. Complementary Branding

You might also like