Product definition

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Product definition Product can be anything that can be offered to

Product definition

Product can be anything that can be offered to buyers

for consumption, use or further processing.
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Product functions Functionality - the need satisfying function Performance – quality

Product functions

Functionality - the need satisfying function
Performance – quality and durability
Ease

of use of the product
Aesthetic function - the shape and color of products
Legal functions - fulfilling the legal requirements
Economic and the cost related functions
Integration capabilities
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Product classification Due to the use and destination, products are divided

Product classification

Due to the use and destination, products are divided into:
Consumer

(daily, basic, impulsive, emergency, selectable)
Industrial (capital goods, products accessories, raw materials, materials, supplies, professional services)
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Product levels by Levitt Proposed by Theodore Levitt in the 80s:

Product levels by Levitt

Proposed by Theodore Levitt in the 80s:
The core

- the essence of the product is the product itself, its functional features, and some technical solutions
Actual product is anything that has an impact on the perception of goods (services) to the consumer. It consists of factors such as brand, trademark, model, material, price, quality, packaging, style, and appearance and behavior of sales staff.
Product extended - additional benefits for the consumer, such as delivery, warranty, returns and spare parts, the availability of convenient services, credit, instruction, installation or maintenance etc.
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Product levels by Kotler Philip Kotler suggested 5 levels: basic benefit

Product levels by Kotler

Philip Kotler suggested 5 levels:
basic benefit - it

is a basic need met by the product
basic product - this part of the product, which is necessary to meet the needs
expected product - customer expectations towards the product (panoramic image)
expanded product
potential output - all improvements which may be subject to the product in the future
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BCG Grid

BCG Grid

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Product life cycle

Product life cycle

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Product life cycle models

Product life cycle models

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Product management

Product management

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Technological life cycle

Technological life cycle

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Product strategy process

Product strategy process

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Product strategy process

Product strategy process