Product Positioning

Relates to marketing efforts that are intended to affect customers perception of the marketers offerings (e.g., products, company image) when compared with how customers perceive competitors offerings.

Missionary Selling (also Product Detailing)

A sub-category of the order influencer sales classification in which salespeople make sales calls to those who influence others, through advice or requirements, to make purchases the most common of which are found in the pharmaceutical and higher education textbook industries.

Individual Product Branding

A branding strategy in which products are given brand names that are newly created and generally not connected to names of existing brands offered by the company.

Total Product

Represents the sum of all tangible and intangible offerings and benefits a customer obtains from a product and includes three key elements: core benefits, actual product and augmented product.

Actual Product

A component of the Total Product offered by the marketer, this represents part of the product that is used (i.e., product features) as well as other elements that are included such as branding, packaging and labeling.

PLC – Product Life Cycle

Used as a tool for depicting the concept that products go through several stages of “life” with each stage presenting the marketer with different challenges that must be met with different marketing approaches.

Augmented Product

A component of the Total Product offered by the marketer, this represents goods and services that surround the Actual Product in order to provide additional value to the customer’s purchase and include guarantees, warranties and training services.

Consumable Product

The main good, service or idea the customer is buying when a purchase is made (e.g., the paste within a toothpaste product).

Product

Key component of the marketers toolkit that represents decisions on the solutions (e.g., goods, services or ideas) and strategies needed to satisfy the needs of a target market.

Product Placement

A form of advertising that intentionally inserts products into entertainment programming (e.g. movies, TV programs, video games) such as showing product use by an actor, placing product in background or having product name mentioned.