Principles of Marketing Unit 3 Part 1 | Product Decision | BCom Hons Semester 3 DU | DU SOL

Welcome to this in-depth lecture on Principles of Marketing – Unit 3 Part 1: Product Decision, designed for BCom (Hons.) Semester 3 students of Delhi University, DU SOL, and NCWEB (2025 syllabus).

This lecture explores one of the most vital elements of the Marketing Mix – the Product, explaining how organizations design, develop, and manage products to satisfy consumer needs and achieve business goals.

TELEGRAM : https://t.me/collegestudiesdu

We break down key concepts of Product Decision with clear examples, diagrams, and simple explanations to help you score well in exams and gain a practical understanding of marketing strategy.

📚 Topics Covered in This Lecture:
1️⃣ Introduction to Product Decision

Meaning and definition of product in marketing

Importance of product as the first element of the marketing mix

Product planning and development process

2️⃣ Levels of a Product

Core benefit level

Actual product level

Augmented product level

Real-life marketing examples of each level

3️⃣ Product Classification

Consumer products: convenience, shopping, specialty, unsought goods

Industrial products: materials & parts, capital items, supplies & services

4️⃣ Product Line and Product Mix

Meaning and distinction between product line and product mix

Dimensions of product mix – width, length, depth, consistency

Strategies for effective product line management

5️⃣ Product Policy and Strategies

Product positioning and differentiation

Product innovation and diversification

Product deletion and modification policies

6️⃣ Branding, Packaging, and Labeling

Concept and importance of branding

Types of brand names and brand strategies

Role and functions of packaging and labeling in marketing

7️⃣ Product Life Cycle (PLC)

Stages of PLC: Introduction, Growth, Maturity, and Decline

Marketing strategies at each stage

Extension strategies for sustaining products in the market

8️⃣ New Product Development (NPD) Process

Idea generation and screening

Concept development and testing

Product design, test marketing, and commercialization

💡 Why Watch This Video?

Covers Unit 3 (Part 1): Product Decision in detail as per DU & DU SOL BCom (Hons.) Semester 3 syllabus

Simplified explanation of marketing mix and product strategies

Helpful for semester exams, assignments, projects, and viva

Real-world business examples for conceptual clarity

Prepared as per NEP 2025 DU curriculum

🎓 Useful For:

BCom (Hons.) & BCom Programme students – DU, DU SOL, NCWEB

Students preparing for semester 3 exams (2025 onwards)

Learners of Principles of Marketing / Marketing Management

Candidates preparing for MBA, UGC NET, or competitive exams

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