In this chapter, we define what a product is and look at how products are categorized. We also take a close look at the key decisions marketers face as they formulate their product offerings. These decisions may involve what features to include in a product, how a product’s identity is established through branding, important issues in packaging design, and what to consider when labeling products. We discuss each in detail and see how these impact product strategy.
- What is a Product?
- Categories of Consumer Products
- Categories of Business Products
- Components of a Product
- Key Product Decisions
- Consumable Product Features
- For examples of these and many other Ad Council campaigns see: “All Campaigns.” Ad Council. https://www.adcouncil.org/all-campaigns.
- While the sale of new luxury goods suffered during the pandemic, the “resale” market for used luxury products thrived. For more see: Eric Rosenbaum and Susan Caminiti. “Coronavirus and Luxury Retail.” CNBC, September 19, 2020. https://www.cnbc.com/2020/09/19/coronavirus-how-the-pandemic-has-impacted-luxury-retail.html.
- Sudden demand for emergency products may also lead to inventory shortages. For instance, during coronavirus pandemic extensive product shortages occurred for such items as toilet paper, hand sanitizers, bicycles, and even swimming pools.
- “Tire Buying Guide.” Sam’s Club. https://www.samsclub.com/content/tire-buying-guide.
- For a listing of all P&G products see: “Brands.” Procter & Gamble. https://us.pg.com/brands.
- For more on intellectual property see: “Intellectual Property (IP) Policy.” United States Patent and Trademark Office. https://www.uspto.gov/ip-policy.
- For examples of excellence in packaging and labeling around the world see: Dieline. https://thedieline.com.