Core products refer to the benefits and services that consumers pursue when purchasing a certain product. (For example, when purchasing cosmetics, you not only need them to have certain chemical properties, but also pursue a kind of beauty enjoyment)

①The core product is the most basic level in the product concept. ②The core product is the purpose for consumers to buy the product. ③The core product is the most important part of the overall product concept. ④The core product is the basis for the product to be exchangeable.

The exact same product may bring different benefits to different consumers. Therefore, the utility and benefits of a product do not refer to the objective usefulness of the product, but to people's subjective understanding of the utility of the product. The size of the utility often depends on the subjective feelings of consumers when using the product.

Physical products refer to various specific product forms that transform core products into tangible things so that they can be sold to customers and meet customer needs. In the market, it is usually reflected in the quality level, appearance, style, characteristics, brand name, packaging, etc. of the product. Physical products are the material carriers of core products.

Add-on products refer to all the additional services and benefits that people receive when they purchase a tangible product. (such as providing credit, free shipping, guaranteed equipment installation and after-sales service, etc.) Add-on products reflect the degree of reliability in achieving the product's utility.

In short, the overall concept of products in marketing is centered on customer needs, which means that the product value of a product is determined by customers, not producers.

Product portfolio is also called the collection of various varieties of products. It refers to the combination or matching of all product categories and product items produced and operated by an enterprise, that is, the scope and structure of the enterprise's production and operation.

A product line refers to a group of closely related products and refers to the product categories in a product portfolio. The division of this product category can be based on: the products are similar in function, connected in consumption, supply the same customer group, have the same distribution channels or belong to the same price range.

Product items refer to specific products of different varieties, specifications, quality and prices in a certain product.

Product portfolio breadth

Product portfolio length

Product portfolio depth

relevance

① Star category: refers to strategic business units or products with high sales growth rate and high relative market share. Due to the rapid market growth of this type of strategic business unit, companies must invest heavily to support their development. Finally, when the market growth rate drops, this type of business unit will change from a cash user to a cash provider, that is, it will become a gold bull type.

②Golden Bull category: refers to strategic business units with low sales growth rate and high relative market share. This type of unit can provide the enterprise with more cash, which can be used to support the survival and development of other units.

③Problem category: refers to strategic business units with high sales growth rate but low relative market share. This type of unit has an uncertain future. Whether to invest heavily in turning it into a star category, or to streamline, merge, or even eliminate it, we should carefully consider and make timely decisions.

④ Dog category: refers to units or products with low sales growth rate and relative market share. Such units or products may be self-sufficient or may suffer losses. They are usually products that are at the end of their production cycle and should be eliminated.

① Development strategy: that is, increasing the market share and sales growth rate of major product categories, but this requires more investment and is only suitable for products in the problematic category that are expected to become star categories.

②Maintenance strategy: that is, maintaining the market share of major product categories, and is suitable for Taurus products with large cash income.

③ Harvest strategy: that is, the pursuit of short-term cash income from major product categories. It is suitable for Taurus products with poor environment, and can also be used for problem or dog products.

④Abandonment strategy: that is, selling and cleaning up certain product categories, which is suitable for problematic products and dog products that have no development prospects or hinder the company from increasing profits.

1. Industry attractiveness includes market capacity, sales growth rate, profit margin, competitor strength, business cyclicality, seasonal economies of scale, learning curve and other factors

2. The second is the business strength of the enterprise, that is, its competitiveness. Including relative market share, price competitiveness, product quality, customer understanding, marketing efficiency, market location and other factors.

Product line extension refers to breaking through the scope of the original business grade and lengthening the product line.

①Downward extension: Some companies that produce and operate high-end products gradually add some lower-end products.

② Upward extension: Some companies originally produced and operated low-end products and gradually added high-end products.

③ Two-way extension: Some companies that produce and operate mid-range products gradually extend to high-end and low-end products under certain conditions, which is called two-way extension.

Product line expansion refers to adding product items within the scope of an existing product line.

Newly invented products, also called brand-new products, refer to unprecedented products made by companies using new principles, new structures, new technologies, and new materials. That is, products invented to meet a new need relying on the advancement of science and technology. The use of such new products often changes the production methods or lifestyles of users or consumers. When this type of new product enters the market for the first time, users go through a process of acceptance and popularization.

New generation products, also called partially new products, refer to products that are partially made of new technologies and new materials based on original products and have significant improvements in product performance and other aspects. That is, they use the achievements of science and technology to improve existing products. products to undergo major innovations. After this type of new product enters the market, users often go through a process of acceptance and popularization, but this process is shorter and easier.

Improving new products is also called improving existing products. This new product is not a major product innovation due to the advancement of science and technology, but only certain changes in the quality, features, structure, style and packaging of existing products. This type of new product is not much different from the original product. After entering the market, it is easier for users to accept it, but it is also easy for competitors to imitate, so the competition is fierce.

The company's new products are also called new brand products and imitation new products, which refer to new products produced by the company by imitating existing products on the market. After this type of product enters the market, as long as it has certain features, it will be easily accepted and popularized by users. However, the competition for this type of new product is more intense.

Products must have characteristics

Be economically beneficial

Generally speaking, enterprises with relatively strong financial and scientific research capabilities are suitable to adopt this form.

The implementation of technology introduction is a form of development of new products commonly used by many enterprises. It can save research and development costs, gain time, shorten gaps, fill gaps, is conducive to competition, and has obvious economic effects.

The combination of independent research and development and technology introduction is currently a form commonly used by domestic and foreign companies to develop new products.

2. Detailed evaluation, screening and filtering

4. Product development and system review

Bringing successfully trial-produced products to the market for trial sales is the most effective and reliable inspection of the product.

The benefits of test marketing: you can understand consumers' potential needs and consumption habits; you can collect favorable marketing information; you can discover product defects and help improve products.

Disadvantages of test marketing: sometimes it cannot accurately reflect market demand because some objective factors are sometimes difficult to predict; it is easy to leak the company's new product information and be used by competitors. Therefore, not all products go through this stage.

The development of new products begins with conception, which mainly comes from consumers, scientific and technological information, competitive products, business personnel and dealers.

New products must be launched at the best time.

It is best to choose the most attractive markets to focus on, and then expand to other regions after gaining a foothold.

They were early adopters of the product.

They are huge adopters of the product.

They have positive reviews for the product and have some influence over others.

It costs very little to get close to them.

Enterprises should design the most advantageous marketing strategies to introduce new products into the market.

2.Interest stage

From the trial stage to the adoption stage, personal information is much more important than advertising, and customers' mutual dissemination of information plays an important role in widespread customer use. When in the evaluation stage, consumers generally have to repeatedly weigh the pros and cons of using this new product, driven by purchasing motives.

The earliest adopters are very sensitive to new products, well-informed about the market, have high economic income, like to be innovative and not conservative. They account for approximately 2.5% of new product adopters.

Early adopters like to appreciate reviews, are proud to be the first to adopt, and live in affluent conditions. This type of consumers has a great influence on the dissemination and promotion of new products. They account for approximately 13.5% of total new product adopters.

Mid-term adopters have more exposure to external things, are willing to catch up with trends earlier, and generally have better economic conditions. They account for approximately 34% of new product adopters.

Early adopters have less external contact activities and poor economic conditions. They generally wait until most of them prove the effectiveness of the new product before they are willing to buy it. They account for approximately 34% of new product adopters.

The latest adopters are more conservative and always have a wait-and-see and skeptical attitude towards new products. They will only adopt the new product when it is unanimously recognized. These consumers account for approximately 16% of new product adoption.

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Brand is a physical product, which refers to the trade name specified by the seller for its own product. It is usually represented by a word mark, a symbol pattern or a combination thereof. It is used to distinguish the products or services of different sellers, including the brand name and brand logo. The characteristics of a good brand : Beautiful appearance, distinctive, concise and eye-catching, and in compliance with the provisions of the Trademark Law.

Brand name refers to the part of the brand that can be expressed in words. Requirements for a brand name: imply the effectiveness of the product; indicate the quality and grade of the product; be easy to identify and remember, and easy to read; must have distinctive features, be distinctive, have profound meaning, and be eye-catching.

Brand logo refers to the part of the brand that can be recognized but cannot be expressed in words, including symbols, patterns or specially designed colors, fonts, etc. Requirements for brand logo design: beautiful and generous in appearance, in line with laws and customs and popular with the public; having distinctive characteristics, preferably reflecting the characteristics of the company or product; simple and eye-catching, easy to recognize and remember.

Trademark is a legal term. After a brand or part of a brand is registered with the relevant government department, it is called a "trademark". Trademarks are protected by law, and the registrant has exclusive rights. They are an intangible asset of the enterprise, and the property rights can be bought and sold. In our country, the terms "trademark" and "brand" are common and there is no difference. There is only a difference between "registered trademark" and "unregistered trademark". Registered trademarks refer to trademarks that are protected by law after being registered with relevant government departments, which are different from general unregistered trademarks.

Branding refers to all activities in which an enterprise specifies a brand name and brand logo for its products and registers them with relevant departments. The first decision about branding is the branding decision, which is to decide whether to establish a brand for the product. The first decision after branding is the issue of brand ownership. However, in recent years, there has been a "non-branding" trend in developed countries such as the United States. Some products do not use brands and are called "unregistered products." The purpose is to save advertising and packaging costs, reduce costs and prices, and increase competitiveness.

A brand represents a certain quality and characteristics of a product, making it easier for buyers to choose.

Consumers can improve their self-image by purchasing brand-name goods.

Brands and trademarks facilitate sellers’ business management.

Registered trademarks are protected by law and are exclusive. They can protect product features and prevent others from counterfeiting. If counterfeit products are found, they can be investigated and claimed according to law.

Brands can establish a stable customer base, attract consumers with brand loyalty, and keep the company's sales stable.

Brands help market segmentation and positioning. Different brands can be established according to the requirements of different market segments, and different brands can be used to invest in different market segments.

Brands can indicate the origin of goods, create differentiation, and help control demand.

Brands can promote continuous improvement in product quality.

Brands can strengthen the innovative spirit of society and encourage producers to continuously innovate in competition, thus making the products on the market rich and colorful and changing with each passing day.

Brands can improve the efficiency of buying and selling activities, accelerate commodity circulation, and promote social reproduction.

Branding creates unnecessary and unrealistic distinctions between products, especially those of the same type.

Branding makes consumers pay higher prices, because branding will inevitably increase advertising, packaging and other costs, and these expenses will be passed on to consumers.

Branding will strengthen people's concept of hierarchy, and people often buy certain brands to show their status.

Manufacturer brands are also called national brands.

Intermediary brands are also called private brands, that is, intermediaries purchase products in large quantities from manufacturers and then market them under their own brands.

Manufacturer's brand and middleman's brand coexist at the same time, that is, some products use the manufacturer's brand and some products use the middleman's brand. Manufacturer brands have always dominated the market in the past, but in recent years, middleman brands have become quite popular in the US market. As a result, brand competition arises between middlemen and manufacturers. In this kind of competition, middlemen have many advantages:

To be closely related to the product, implying product effectiveness or quality

To show the distinctive features of the company or product, to be profound and eye-catching

It must conform to traditional customs, be beautiful and elegant, and be popular with the public.

The initial quality level of a brand can generally be divided into four levels: low-end products, mid-level products, high-end products and super products.

A study in the United States pointed out that the return on investment of enterprises increases with the improvement of brand quality, but higher quality is not always better. Generally speaking, the profitability of super products and high-end products is similar, while the profitability of low-end products is significantly lower.

The brand's initial quality level.

Purchasing power level.

Continuously improve quality, create famous brands, and maintain famous brands.

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The classified family brand name strategy means that the various products operated by the company are named separately, that is, one type of product uses one brand. For example, the American company Sears adopts this strategy and uses different brands for its household appliances, women's clothing, furniture, etc. Some large enterprises produce and operate a wide range of products, including food, clothing and supplies, and it is not appropriate to use a single brand, such as food and fertilizers, cosmetics and pesticides, etc. It is not appropriate to use the same brand.

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Brand expansion strategy refers to using an already well-known brand to launch new or improved products

Save on promotional costs.

If a new product fails, it will affect the brand's reputation.

Multi-brand strategy refers to the same company setting up two or more competing brands on the same product. Although this will slightly reduce the sales volume of the original brand, the total sales volume of several brands combined is higher than that of the original brand. many. For example, there are several brands of detergents produced by P&G Company in the United States. Some people call this strategy "product multiplication."

The product display space in the retail market is limited, and one more brand can occupy one more space.

Many consumers are brand switchers, are curious about novelty, and like to try new brands. The best way to capture these consumers is to launch more brands.

Multiple brands can introduce competition mechanisms into the enterprise, allowing brand managers to compete with each other and improve efficiency.

Multi-branding allows a company to own several different market segments. Even if the differences between the brands are not big, they can each attract a group of consumers.

Beautify goods, differentiate goods

1. Reasonable shape and structure.

The importance of packaging to promotion cannot be ignored. Some people call it the "silent salesman". Packaging design should try to cater to the needs of major consumers and make consumers have the following "six senses":

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If the packaging of a product has been used for a long time, we should also consider introducing new products and changing the packaging. This method of changing packaging to achieve the purpose of expanding sales is to change packaging strategy. The adoption of this strategy is conditional, that is, the intrinsic quality of the product must meet the usage requirements. If this condition is not met and the inherent quality of the product is not good, then even if the package Pretending to have made significant improvements will not help expand sales.

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Classified packaging strategy is to use different packaging for the same product according to different purchasing purposes of consumers. If the product is purchased as a gift for relatives and friends, it can be exquisitely packaged; if the purchaser uses it himself, it can be simply packaged.