Marketing Agency
Managing Existing Products When to Extend Product Lines A company can extend its product line using a down-market stretch, an up-market stretch, or a move both ways. LEARNING OBJECTIVES Describe the nature of a product… Managing Existing Products
Impact of the Product Life Cycle on Marketing Strategy The stage of the life cycle of the product affects how it is marketed. LEARNING OBJECTIVES Summarize marketing strategies that apply to product life cycles KEY… Impact of the Product Life Cycle on Marketing Strategy
Product Life Cycles The Product Life Cycle Every product goes through the various life cycle phases of introduction, growth, maturity and decline. LEARNING OBJECTIVES Discuss the rationale behind the marketing concept of product life cycles… Product Life Cycles
Product Line and Product Mix Adjustments to Products Marketers must often make product adjustments in order to keep the product competitive and continue to provide satisfaction to the buyer. LEARNING OBJECTIVES Discuss strategies for adjusting… Product Line and Product Mix
Business Products Business products are sold to other businesses, as opposed to convenience, shopping, and specialty products, which are sold to consumers. LEARNING OBJECTIVES Distinguish between the different types of business products KEY TAKEAWAYS Key… Business Products
Unsought Products An unsought good is one that is not actively sought out by a consumer, but is instead purchased due to fear, precaution, need, etc. LEARNING OBJECTIVES Discuss the concept of unsought goods as… Unsought Products
Specialty Products Specialty goods are those considered unique by the buyer, who will go to great lengths to get them. LEARNING OBJECTIVES Illustrate the characteristics and consumer motivation connected to specialty products KEY TAKEAWAYS Key… Specialty Products
Shopping Products Convenience goods are those that require little effort on the part of the buyer, while shopping goods require research and comparison. LEARNING OBJECTIVES Discuss the characteristics of shopping products as a specific type… Shopping Products
Types of Products Consumer Products A consumer product is any tangible product for sale that is used by a person or household for non-business purposes. LEARNING OBJECTIVES Describe the characteristics of consumer products KEY TAKEAWAYS… Types of Products : Consumer Products and Shopping Products
Benefits and Solutions The core benefit is what consumers feel they are getting when they purchase a product. LEARNING OBJECTIVES Review the four levels of product differentiation KEY TAKEAWAYS Key Points The same product may… Benefits and Solutions