week 19 Flashcards
(23 cards)
what is product
umbrealla term anyhting that can be offered to consumers and as a result consumed
so good or service
what is service
from of prouct
consisting of activities benefits m satisaction offred for sale
intangible
convenicence products
fasst moving consumer goods
low decison making involvment
e,g, food and snnack
what is a shopping product
got medium level of involeeent most goods are here
e.g. boots , shoes , glasses
wha are speciality /lucury products
one-time thing you may buy for a specific occasion (Specialty)
luxury - high end product
what are unsoguth prodcuts
thigns you nto activley seekig out
e.g. funeral care
what are the three product levels
core
emobodied
augemented
core
real core beenfit/service
functional - what product will do
emotional - hwo make people feel
embodeid /actua
consists of physical good or service that provides an expected benefit
e.g features and capabilities, durability , design , packaging, promo and brand name
physical featre
what is augemented product
embodied product + other factors necessary to suppoer purchase and any post purchase activites
e.g. credit and finance , training , delivery installation
additional benefits that fo w product
augmented product is usualyl
free of charge
service is moer specific than a
product
what does consumption of service not result in
any transfer of ownership although service process may be attached to a physcial product
give an example of service does not result in a transfer of ownership
might recieve phsycoal prodcut but dont own it
e.g. consultancy - et expertice
5 characteristics of a service
intangible
inseperatablity
lack of ownership
variability
perishable
this relates to intangible we dont knwo whata service is like untill we
consume it
inseperable meanig
cant seperate it from whoever is offering it e.g service from the marekting agency
variabilitity meanin
consumer entitled to certina reighs and can claim product isnt up to standard and get reimbursed easily
not same w service
professionals aspire to provide same level of service but things just happen e.g. headache so one service may take longer than the other
what does perishable mean
cant store em and keep em for future use
service starts as soon as you start consumign them and stop when you stioo
what does lack of ownership mean
can own products attached to service but cant own service itself e.g got no owneship of childcare service
due to the charactersitics of a service what are the key implications for marketing
got put lots of info in marketing and rely on WOM reviews
as
what are the steps of service innovation developmetn
1 - product centric manufacturer - service used as aftersles product support
2- as needed service provider - afterslaes services used to compleemtn and upsell the core product
3 - full line service expert - services and prodcuts ised together to differntiate an offering and solve client lifecycle problem
4 - integrated solutions provider - services become a fully integrated element in the offering. Known as Servitization
what is the prodcut lifeculce
market development / rand d
introduction
growth
maturity
decline
