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Product is a complex concept that must be carefully defined. As the first of the four marketing mix variables, it is often where strategic planning begins. Product strategy calls for making coordinated decisions on individual products, product lines, and the product mix. Products and services can be thought of as occupying three levels: the core product, the actual product, and the augmented product. Consumer products are usually classified according to how consumers buy them (convenience, shopping, specialty, or unsought products). Industrial goods are classified according to whether materials and parts, capital items, and supplies and services are produced. The primary difference between industrial and consumer goods is the purpose for which the product is bought.


In addition to tangible products and services, in recent years marketers have broadened the concept of a product to include other “marketable entities”—namely, organizations, persons, places, and ideas. Whether an organization is classed as profit or nonprofit, marketing has a role to play in the entity. Political candidates and sports figures are perhaps the best examples of how important marketing is to person marketing. With the growth of tourism marketing, many states, nations, and attractions have learned how to market themselves effectively. Lastly, idea marketing (primarily social marketing issues) has gained in popularity in the latter part of this century. Those that study trends in marketing believe that all of the above areas will continue to grow and expand in the years ahead.


Companies have to develop strategies for the items in their product lines. They must decide on product attributes, branding, packaging, labeling, and product support services. Each of these areas is explained so that the individual product decision is seen as a sequence of planned events. Most companies produce a product line rather than a single product. Product line...