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The Product is one of the 4 components of the Marketing Mix. According to KOTLER and DUBOIS in « Marketing Management », a product is « all that can be offered on a market so as to be identified, acquired and consumed, in order to satisfy a need ».
Product classifications Products are classified into According to the market According to purchase : But also according to the relationship with the market : Complementary Products Substitution Products Independent Products
The 3 levels of product definition Kotler determined that a product could be defined through 3 levels : Level 1 : Core Product corresponds to technical characteristics, options, design, norms… Level 2 : Actual Product corresponds to core product completed with brand, quality, packaging, characteristics… Level 3 : Augmented product corresponds to actual product completed with installation services, delivery services, After Sales, warranty…
Product management Product management will be different according to the product state in its lifecycle. A collaboration between Marketing and production, logistics functions is a key success factor during product conception phase.Functions intent then to create the most compatible product with industrial and logistics constraints (design, dimensions, packaging, …).
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