Plan: Introduction: Product Planning and Development Product Line Product Mix

(i) Perpetual Mapping:
Perpetual mapping technique identifies the two dimensions that differentiate consumer percep­tions of products and the positions of existing products on these dimensions. Perpetual mapping is usually represented on two dimensional scales so that the marketing manager can readily see where his own brand is positioned in the mind of his prospective buyers and in relation to other brands. In short, measuring the perception in mathematical psychologists way is known as perpetual mapping.
(ii) Product Benefits:
Product benefits facilitate consumers in their decision making. It also reduces uncertainty in their minds. Product benefits can be offered through branding because the brand owner is able to earn an easy recognition and image compared to owners of unbranded products. Product benefits can be converted into brand benefits to achieve prestige, legal right, basis for successful demand, creational activity, sales stability, widening the market area, and innovations. It constitutes the heart of product management.
(iii) Market Segmentation:
In market segmentation, consumers are grouped in terms of market dimensions and the firm attempts to match the need of different consumer groups through compatible marketing inputs. The different types of segments are geographic segmentation, demographic segmentation, socio-psycho- logical segmentation, product segmentation, benefit segmentation, volume segmentation, marketing factor segmentation and life style segmentation.
(iv) Product Categories:
Products are generally categorised into consumer and industrial goods. The category of con­sumer goods is still too broad to formulate specific market strategy.
So consumer goods may be further subdivided into:
(a) Convenience goods,
(b) Shopping goods,
(c) Speciality goods, and
(d) Impulse goods.
(a) Convenience Goods:
Convenience goods are those goods which are brought with the maximum of convenience such as ready availability and satisfaction of immediate and frequent require­ments, low unit price and more or less standard quality and uniform price.