2-22 - Friday Guest speaker from Smart Car Chapter 9...

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February 22, 2008 Friday: Guest speaker from Smart Car Chapter 9: Elements of Product Planning for Goods & Services - Product Decisions for Marketing Strategy Planning ***-Product: Need satisfying offering of the firm. -Product Idea (features, functions, benefit, quality level) -Product Classes (type of customer that will use the product) -Brand (Models) -Package (more than protecting product—it’s promoting the product and enhancing its use--design) -warranty (how extensive it’ll be) -A good is a tangible —something you can touch-- a car, a chair, a home -A service is intangible —something you cannot touch-- insurance, satisfaction -A totally satisfied customer: focusing your decisions for marketing strategy planning based on consumer needs/wants. - Product quality & Customer needs: quality may be absolute or relevant—if quality is not there, no satisfaction. - -Product lines must be developed: Individual products that are closely related. Can be sold to similar TMs with similar prices, etc. -Product Assortment: All the product lines that the company sells (BMW: C series, 5 Series, etc.)
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2-22 - Friday Guest speaker from Smart Car Chapter 9...

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