MEANING & CLASSIFICATION OF PRODUCTS

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Classification Of Products BY- Ajeet Singh MBA 2 nd sem

Classification Of Products:

WHAT IS PRODUCT? A product is anything that can be offered to a market to satisfy a want or need including- Physical goods Services Persons Places Properties Organizations Information Ideas.

WHAT IS PRODUCT?:

PRODUCT CLASSIFICATIONS Durability & Tangibility Consumer-goods Industrial-goods

PRODUCT CLASSIFICATIONS:

DURABILITY & TANGIBILITY Nondurable goods:-Tangible goods normally consumed in one or a few uses. Durable goods:-Tangible goods that normally survive many uses. Services:-Intangible, inseparable ,variable and perishable products.

DURABILITY & TANGIBILITY:

Consumer goods classification Convenience goods Shopping goods Specialty goods Unsought goods

Consumer goods classification:

CONVENIENCE-GOODS

CONVENIENCE-GOODS :

Consumer Goods classification Staples :-Goods consumers purchase on regular basis. 2. Impulse goods :-Goods purchased without any planning or search effort. 3. Emergency goods :-Goods purchased when a need is urgent.

Consumer Goods classification:

SHOPPING GOODS

SHOPPING GOODS:

Homogeneous shopping goods :-Goods similar in quality but different enough in price to justify shopping comparisons. 2. Heterogeneous shopping goods :-Goods differ in product features and services that may be more important than price.

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Specialty goods :-Goods that have unique characteristics or brand identification for which a sufficient number of buyers are willing to make a special purchasing effort. Unsought goods :-Goods that the consumer does not know about or does not normally think of buying.

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Industrial-Goods Classification

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Materials and parts Raw materials -it is divided in two parts Farm products -wheat, cotton, livestock, fruits and vegetables etc. Natural products -fish, lumber, crude petroleum, iron ore, etc.

Materials and parts:

To be continued ………. Manufactured material and parts further divided in two parts- Component material -iron, yarn, cement, wires. Component materials are fabricated further such as pig iron is made into steel, and yarn is woven into clothes.

To be continued ……….:

To be continued………. Components parts - small motors, tires, castings. These are not further fabricated for example when small motors are put into vacuum cleaners, and tires are put into automobiles .

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Capital items Capital items are long lasting goods that facilitate developing or managing the finished product. They include two parts- Installations –It consist of buildings (factories, offices) and heavy equipments( generator, drill presses, mainframe computers, elevators). Equipment –it includes portable factory equipment and tools (hand tools, lift trucks) and office equipment (personal computers, desks).

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Supplies Supplies are of two kinds- Maintenance and repair -paint, nails, broom. Operating supplies -lubricants, coal, writing paper, pencils

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Business services Maintenance and repair services -window cleaning, copier repair. Business advisory services -management consulting, advertising.

Business services:

REFERENCES MARKETING MANAGEMENT - PHILIP KOTLER K.L.KELLER ABRAHAM KOSHY Mithileshwar Jha www.google.com

REFERENCES:

THANK YOU!

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