Session 6

Fashion Products
What is product?
 Product can be defined as anything
that might satisfy a need that can be
offered in the marketplace.
 It can be an object, service, idea, etc.
Fashion Product Classification
PRODUCTS

Convenience Shopping Specialty

Habitual Impulse

Amount of consumer effort expanded in purchasing

Product Levels: Customer Value
Hierarchy
 Core benefit
 Basic product
 Expected product
 Augmented product
 Potential product
Customer Delight
 When you exceed customer
expectations
Product Mix (Product Range)
 The assortment of products that a company
offers to a market
 Width – how many different product lines?
 Length – the number of items in the product
mix
 Depth – The no. of variants offered in a
product line
 Consistency – how closely the product lines
are related in usage
Product Hierarchy
 Need
 Product family
 Product class
 Product Line
 Product type
 Brand
 Item
Product classification
 Durable
 Non – durable
 Services
Consumer goods classification
 Convenience goods
 Shopping goods
 Specialty goods
 Unsought goods
Industrial goods classification
 Materials and Parts
- raw materials
- manufactured materials and parts
 Capital items
 Supplies and business services
Product Mix
 The assortment of products that a company
offers to a market
 Width – how many different product lines?
 Length – the number of items in the product
mix
 Depth – The no. of variants offered in a
product line
 Consistency – how closely the product lines
are related in usage
Product Line decisions
 Product rationalization
 Market rationalization
 Product line length
too long – when profits increase by
dropping a product in the line
too short – when profits increase by adding
products to the product line
 Line pruning – capacity restrictions to decide
Brand
 A name becomes a brand when
consumers associate it with a set of
tangible and intangible benefits that
they obtain from the product or
service
 It is the seller’s promise to deliver the
same bundle of benefits/services
consistently to buyers
Brand Equity
 When a commodity becomes a brand,
it is said to have equity.
 The premium a brand can command in
the market
 The difference between the perceived
value and the intrinsic value
Brand Power
 Customer will change brands for price
reasons
 Customer is satisfied. No reason to
change.
 Customer is satisfied and would take
pains to get the brand
 Customer values the brand and sees it
as a friend
 Customer is devoted to the brand
Advantages of branding
 Easy for the seller to track down problems and
process orders
 Provide legal protection of unique product
features
 Branding gives an opportunity to attract loyal
and profitable set of customers
 It helps to give a product category at different
segments, having separate bundle of benefits
 It helps build corporate image
 It minimises harm to company reputation if
the brand fails
Umbrella Brand
 Products from different categories
under one brand
 Dangerous to the brand if the principal
brand fails
 Sometimes the company name is
prefixed to the brand. In such cases
the company name gives it
legitimacy. The product name
individualises it.
Brand Repositioning
 This may be required after a few years
to face new competition and changing
customer preferences