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Lesson 7: Product, Branding, and Lifecycle StrategiesChapter 9 – Products, Services and Brands: Building Customer ValueChapter 10 – New Product Development and Product Life-Cycle Strategies1.define product, and describe the main classifications of products and services. (textbook, pp. 279–285)
*The distinction between a consumer product and a business product is based on the purpose for which the product is purchased.3 groups of business products:1) Materials and parts – raw materials2) Capital items – installations and accessory equipment3) Supplies and services – operating supplies and repair and maintenance itemsOther Market OfferingsOrganization marketing – consists of activities undertaken to create, maintain or change the attitudes and behavior of target customers toward an organizationPerson marketing – consists of activities undertaken to create, maintain, or change attitudes or behavior toward particular people.Place marketing – involves activities undertaken to create, maintain, or change attitudes or behavior
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Marketing, New Product Development and Product Life-Cycle Strategies