The systematic development and management of a firm’s product which includes branding and packaging is known as Product Planning. Goods are tangible, services are intangible. There are 5 product levels: core benefits, expected products, augmented products, and potential product. Products are classified into: 1) Durability and tangibility which includes – non-durable goods, durable goods, services, 2) Consumer goods which includes shopping habits, convenience goods, specialty goods and unsought goods. 3) Industrial Goods which includes: material and parts, capital items etc.
Here we present Product Management Case Study For Practice:
Don’t look for A-19 or A-21 as it won’t be available because there is only A-20 is the advertising message of Lubri Smooth Ltd.
The company’s target group is household/domestic users. However, A-20 is used for bicycles, scissors, sewing machines, consumer durable, tiny mixers and all sorts of nuts and bolts.
Lubri-Smooth is with tight grip on 80% market share with last 25 years standing in household sector. It is used also by farms, factories, garages and even offices.
It has remarkable household penetration despite competition from other Managing Director, Atul Jumale who is inclined to sell only 1 product, with a view to keep distribution and promotion expenses manageable. He believes in Free Sampling as an excellent tool and gives 5 ml sample very generously.
Lubri Smooth has increased the prince only twice with a gap of 10 years in last 25 years.
Mr. Atul receives number of suggestions about changes in packaging, separate labels for different users, brand extension, price increase, changing product width etc. However, Mr. Atul Jumale has strong conviction that Single Product Marketing is the formula for SUCCESS.
Q.1) How do you view the product A20 – household or business to business? Explain with reasons.
Q.2) Do you agree with Mr. Atul Jumale’s formula for success? Explain the reasons for Agreement or Disagreement.
Q.3) In what stage of PLC the product is? Justify your opinion.