Microsoft Word marketing doc

The Generic Product
: It is the unbranded and undifferentiated commodity like 
rice, bread or cloth. 
The Branded Product
: It gets an identity through a “name”. Ex. Modern 
bread, Spencer bread etc. 
The Differentiated Product
: It enjoys a distinction from other similar 
products/brands in the market. Many firms differentiate their products based on 
functional benefits. 
Examples: Cinthol (deodorant and freshness), Dettol (total protection from 
germs), Pears (glycerin and hence, skin care). 
The Customised product
: In this, customer’s specific requirements are taken 
into account while developing the product. This is a common practice in 
industrial products marketing, where the manufacturer and the user are in direct 
contact and the product gets customised to the requirements of the customer.
The Augmented product
: The Augmented product is the result of voluntary 
improvements brought about by the manufacturer in order to enhance the value 
of the product. These improvements are neither suggested by the customers nor 
even expected by them. The marketer on his own, augments the product by 
adding on extra facility or an extra feature to the product. 
For example, Tata Tea introduced the “Tetley-2 cup tea bags” and 
promoted it focusing on the ease of making tea with the 2 cup tea bags (“even a 
husband can do it”, say the ad.). 
The Potential Product : 
The potential product is tomorrow’s product carrying with it all the 
improvements and finesse possible under the given technological, economic and 
competitive conditions. In actual practice, development of potential products is 
the forte of big companies who can command big resources required for the 
development of such products. 
Deciding the product policy 
:
The product policy involves - 
1. 
Appraisal of the Product Line and the individual products. 
2. 
Decisions on product differentiation.
 
3. Product 
positioning
 
4. Brand 
Decisions
 

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5. 
Decisions on packaging 
6. 
New product Development 
7. 
Managing the product life cycle of products.