Chapter 7 Flashcards
What is a Product?
Anything that may be offered to a market for attention, acquisition, use or consumption. Tangible objects + services, events, persons, places, organizations, ideas, or mixes of these.
What is a tangible dominant good? Give an example.
A good which may be physically touched and used. e.g. A car.
What is an Intangible Dominant good? Give an example.
A service that provides intangible benefits. e.g. teaching. Some goods are lees tangible than others. e.g. An airline ticket is less tangible than teaching, but still would not be considered tangible.
Core Customer Value
- most basic level
- What is buyer really buying
- First thing to identify
Actual Product
- 2nd level
- Physical device with features, brand name and packaging
- Design real product
Augmented Product
Additional services and benefits, finding ways to augment it.
What are the product and service classifications of Consumer Products?
1) Convenience
2) Shopping
3) Specialty
4) Unsought
Classifications of Industrial Products?
- Materials & Parts
- Capital Items
- Supplies & Services
Person marketing
create, maintain or change behaviours toward particular people (politicians, celebrities, etc.)
Place Marketing
create, maintain or change behaviours toward particular places, (Canada, Montreal, community centres, etc.)
Organization marketing
create, maintain, or change behaviours towards particular organizations (JMSB, clubs, sports team)
Social (Ideas) Marketing
using traditional business marketing concepts and tools to create behaviours that will create individual and societal well-being (anti-smoking, drunk driving, etc)
3 Levels of Product & Service decisions
1) Individual Product Decisions
2) Product Line Decisions
3) Product Mix Decisions
Individual Product and Service Decisions
1) Product Attributes
2) Branding
3) Packaging
4) Labelling and logos
5) Product support services
Product Attributes
Quality, Features, Style & Design
