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The marketing mix - product (Product planning (Step 1 - new product…
The marketing mix - product
Marketing mix
7p's for Services
Same as 5p's
Process
Physical evidence
5p's for Products
Price
Product
Place
Promotion
People
Three levels of product benefits
Core product
Core benefit of product
Actual product
Packaging
Features
Styling
Quality
Brand name
Augmented product
Installation
After-sale service
Warranty
Delivery and credit
Four types of product
Convenience
Frequently purchased
Low investment
Low involvement
Shopping
Less frequently purchased
Selected on price, quality and style
Speciality
Special purchase
Expensive
Strong brand preferences
Unsought
Little knowledge
Little interest
Product planning
Step 1 - new product planning
Step 2 - Ideas generation
Step 3 - Idea screening
Step 4 - Concept testing
Step 5 - Market/business analysis
Step 6 - Product development
Step 7 - Test marketing
Step 8 - Commercialisation