In this chapter, we will address the following questions:
- What are the characteristics of products, and how do marketers classify products?
- How can companies differentiate products?
- How can a company build and manage its product mix and product lines?
- How can companies use packaging, labeling, warranties, and guarantees as marketing tools?
- What strategies are appropriate for introducing new offerings and influencing adoption?
- What strategies are appropriate in different stages of the product life cycle?
At the heart of a great brand is a great product offering, which customers judge on three basic elements:
- product features and quality,
- service mix and quality, and
In this chapter we examine product strategy, new product development, and the product life cycle. Chapter 10 explores services, and Chapter 11 discusses price.