Principles of Marketing Unit 3 Part 3 | Product Decision | BCom Semester 3 DU | DU SOL 2025 Lecture

Welcome to this in-depth lecture on Principles of Marketing (POM) Unit 3 – Part 3: Product Decision, designed for BCom Semester 3 students of Delhi University (DU), DU SOL, and NCWEB (2025 syllabus).

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In this video, we discuss one of the most essential components of the Marketing Mix – the Product, explaining how marketers make key product-related decisions that shape a company’s success. This lecture will help you clearly understand the concepts, classifications, and strategies related to the Product Decision in marketing.

🔑 Topics Covered in This Lecture (Product Decision – Unit 3, Part 3):
1️⃣ Meaning & Importance of Product Decision

Definition and role of product in the marketing mix

Importance of product planning and management

Relationship of product decisions with consumer needs and market trends

2️⃣ Levels of Product

Core Product: the basic benefit or service

Actual Product: design, features, brand name, quality, packaging

Augmented Product: additional services, warranties, after-sales support

3️⃣ Product Classification

Consumer Products: convenience, shopping, specialty, unsought goods

Industrial Products: materials, capital items, supplies, and services

4️⃣ Product Mix and Product Line Decisions

Definition of product mix, product line, product width, depth, length, and consistency

Product line stretching, filling, and pruning strategies

Managing and updating product portfolios

5️⃣ Product Life Cycle (PLC)

Stages: Introduction, Growth, Maturity, Decline

Marketing strategies and challenges at each stage

Product modification and relaunch techniques

6️⃣ New Product Development (NPD)

Steps in the NPD process: idea generation, screening, concept development, testing, commercialization

Importance of innovation and market research in product development

7️⃣ Branding Decisions

Meaning and importance of branding in marketing

Brand name selection, brand equity, brand positioning, and brand loyalty

Difference between manufacturer’s brand and private label

8️⃣ Packaging & Labeling

Objectives and functions of packaging

Types of packaging and modern trends

Role of labeling in communication and legal compliance

💼 Learning Outcomes:

By the end of this lecture, you will understand:

The complete concept of Product Decision under the marketing mix

How marketers manage product portfolios strategically

The process of developing and launching new products

How branding, packaging, and labeling influence consumer perception

🎓 Why Watch This Lecture?

Covers Principles of Marketing Unit 3, Part 3 as per DU, DU SOL, and NCWEB BCom Semester 3 syllabus (2025)

Simplified explanations with real-world marketing examples

Best resource for exam preparation, assignments, projects, and viva

Includes key definitions, diagrams, and examples for quick revision

📚 Useful for:

BCom / BCom (Hons.) students (Semester 3) – DU, DU SOL, NCWEB

Students studying Marketing Principles / Marketing Management

Those preparing for competitive exams, MBA, or UGC NET in Commerce

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