Product Classification - Product Planning and Market Strategies, Marketing Management Video Lecture | Marketing Management - B Com

we will talk about product
classification in this video then
basically there are three types and one
is based on durability and unknown is
based on consumer and the last one will
be based on industry let's go to the
first one I will talk about how
durability and tangible to differentiate
goods
basically there are two one is called as
non durable goods and another one is
durable tools non-durable goods is
something which has a little lifetime
and that is frequently purchased and
need academic heavily because many
people will buy products frequently
because of that will have a lot of
competition and this requires more
advertisement the examples would be
vegetables coke products that is soft
drinks also shampoo and something like
that and this product will get over one
you when you use it once or twice once
maybe more than that but basically it
has less than three years of lifespan
and second one is called as durable
goods and the durable goods service more
than many uses and also it requires more
person sanding rather than addressing
even though advertising is also advised
but the person selling will help you to
sell more and the match that you earn
from this particular product will be
higher compared to the non durable goods
and seller has to create a good fresh
perception in the minds of the customer
or else you not be able to sell it
better better examples would be
refrigerated machine tools
furnitures a/c TVs and stuff like that
so this is how our product has been
categorized based on durability and the
last one in this particular category is
called services this services is
actually differentiated from the product
is differentiate from the product in few
variables one is like intangibility that
means the purpose real but the service
is not here
and service cannot be separated from the
customer and that is why it is called as
inseparable and the service will vary
from one customer to other customer and
that is called is variability and the
service is actually participate in
nature why because when the service has
been rendered to a customer it will
automatically go off if he is not
availing the service when you are giving
a service to the customer you need to
have proper quality control and you must
create good superior ability and the
service should be adaptable to any
environment the examples would be a spa
saloons and legal advice moving on to
the next one the customer base
principles classification here we have
four one is convenience cool any product
that has been bought frequently and it
requires minimum foot of thinking and
that will be called as convinced course
and it has been categorized into three
one is called a staple goods the goods
that are purchased regular basis the
goods that are purchased on a regular
basis example soaps and shampoo and one
is another one is called as impulse
goods the purchase will happen without
any planning and when I go to the store
if I find a chocolate and if I am
interested then I will buy it the last
one is called as emergency goods the
emergency codes will be purchased in
emergency or else when it is needed
example when I am getting an injury as I
meet with an accident then I require
medicines and plasters and if it is a
rainy season I require a number law and
this will be a part of your convenience
book the next one would be shopping goes
shopping goods where you will try to
compare product and contrast which is
not like your convenience code because
you've not gone compare and contrast
over there but you will try to compare
and contrast all the products which you
are seeing for the examples would be
furniture clothing and some cost per car
prado and shopping hood is actually flex
variant
one is called as heterogeneous and
another is called as homogenous let's
see the homogenous first home engine is
shopping Goods means you will have
similar quality and you will have
different prices for the product and you
will try to compare and contrast the
product based on the price only not
based on the quality and here you will
choose the product only based on the
price heterogeneous good means you will
have a different product feature and you
will not focus more on the price because
you are really focused on the product
future and service that is given by the
company
so here the price will not play a major
role and with this your shopping good is
over now we will take a look at
specialty Goods the specialty Goods out
the ones which have any characters and
also people will buy based on the brands
that is being was used by the company
and the buyers will certainly make an
effort to buy this product because they
need this product at the most and they
allow this product also and they do not
really compare the product because they
know what they really want the examples
stereo component menus photographic
equipment and there may be car and also
in either a special goes for exam says
whether you'll also become belong to
shall tickets and the next one be and
sort goods the goods that are not really
admiring the customer also the goods
which is not known to the people and
they normally do not think of buying
these products will comment and sort
codes the best examples will be
insurance encyclopedias and reference
books and why are these product and sort
because people do not really know the
value of the product and also the amount
really liked the product and for this
product we require more advertising and
you need to put plot of a person in
personal selling only then you will be
able to sell the product then for this
you are completing the consumer goods
classification now we are getting the
industrial goods classification and we
have basically three things one is
called as material some parts and we
will delete that now and the materials
parts has been classified into few other
subsets the raw material is the first
one and that has been classified into
two one is called as form products and
natural products for the examples given
here I think you will be able to
understand what this form product and
what is natural for a fun product has to
be produced by the farmer and natural
products is already available in nature
but we will have to take it out and I
need to process it and farm products can
be produced in abundance the natural
products cannot be policemen and
abundant stickers which is naturally
available which is limited resource so
one has to use it properly in case of
the second one manufacture materials and
parts they are transparent to what is
called as company materials and that is
normally fabricated one and one
particular product will be changed into
another product and I would say it's a
raw material or something that has
transformed into a product which can be
used for the other other product
component and example Sione loop here be
like yarn this kind of to plot the pig
iron is kind of steel and the next one
will be component parts the compound
parts will enter into the finished
product and this part will not have any
change for example when I take a motor
and fit it into the AC and that motor is
called as a compound path the AC is the
finished part my quest you can take the
side mirrors the engines of a car that
will become a component part and the
finished code will be your car the next
one and this category is called as
capital items and we have two in that
one is called a scintillations
installations and the second one is
called as equipment installations are
normally heavy heavier and it requires
more money and equipments is a cheaper
one compared to the installations and
this installation is long it's durable
and equipments is also durable but the
rice pan will be high in case of
insulation but it will be less in case
of equipments the installation requires
more negotiation and you will normally
have a personal selling one compared to
the equipment's equipments here we will
really look into the advancements or as
we looking for some person selling also
but compared to the installations will
have lesser
personal in this insulation we really
look into the product and we go to the
producer in and then buy it
the equipment's will buy from the
retailer because all the products are
available by little rain and the dealers
and distributors will help in trapping
the product whenever we buy equipments
you look into the quality features and
prices and services for comparison of
the bottom this is all about your
capital items the next one
we'll be supplies and this and services
the supplies and business services is
the last category of your in the singles
classification as well as for this topic
supplies means do satellite product for
Matins you supply port for operations
for example say when I use paint
I normally maintained a end draw or
something by coating it with the paint
and brooms I use it for maintaining my
office and with and in case of your
operating supplies I use this product
for a proper functioning also operation
of a particular product then it is
lubricant for my bike that is going to
help me to make my engine smooth as well
as to protect mention and pencils and
obviously I require it for writing steps
and second category would be business
services here we have two kinds of
business services one is maintenance and
service sorry maintenance and the
pressure versus men I appoint some
people for maintaining my office is less
to repair some of the products which oh
it's worn out maybe for a car also for
AC as for anything is like TV and
business advisory services and related
to a general knowledge transaction
process where I do not know about
something and someone else know about it
I gained and always from them I pay for
the knowledge that they have delivered
and the exams here given our legal
management consultancies and
advertisement agency and these people
advise me on the business that I am
doing which is the topic prada
classification is coming to an end and
we'll see the next topic new product
development thank