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Chapter 14 - want them Industrial Goods Production goods...

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Chapter 14: Developing "Total Product offer" (value package): Everything that consumers evaluate when deciding whether to buy something (also called value package) Value package includes: - Physical Attributes - Intangible attributes - Perceived attributes Product Lines & Product Mix line -Product Line: A group of products that are physically similar or are intended for a similar market -Product Mix: combination of all lines that a company makes Product differentiation: the creation of product differences between your products and those of your competitors. (Real & perceived) Categories of Goods Consumer goods Convenience goods: buy without planning, they are easy. You don’t make special trips for "tic-tacs". Something that is there so why not buy it? Shopping goods: washer dryer. You go out and look for the best price Specialty goods: cars, and shopping for it Unsought goods: body work on car, emergency room trips, root canals, you don’t
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Unformatted text preview: want them. Industrial Goods Production goods: into the product Raw materials Component parts: for building something, fender, generator, alternator Production materials: nuts and bolts. Must have Support Goods: don’t NEED but want to have Installations Accessory Equipment Supplies Service GRAPH FIGURE 14.6 Introduction stage: introduce the product, beginning advertisements Growth Maturity Decline Product branding Brand names Brand marks Trademark: failed to aspirin, zipper, kerosene all failed to mark there name Categories of brands Manufacturer brands Dealer/ private brands Generic brands Branding Terms Brand equity Brand awareness Brand loyalty levels Brand recognition Brand preference Brand insistence Pricing strategies Cost based pricing: working up. Target costing: deciding what you want to charge Competition based: see what others are charging Break even analysis Skimming pricing//penetration pricing Bundling Psychological pricing...
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Chapter 14 - want them Industrial Goods Production goods...

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