Ch08_NE - Product Concepts Chapter 8 Prepared by Deborah...

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Prepared by Deborah Baker Prepared by Deborah Baker Texas Christian University Texas Christian University Canadian Adaptation by Miguel Morales Canadian Adaptation by Miguel Morales Saint Mary’s University Saint Mary’s University COPYRIGHT © 2006 by Nelson, a division of Thomson Canada Limited. All rights reserved  Product Concepts Chapter 8
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2 COPYRIGHT © 2006 by Nelson, a division of Thomson Canada Limited. All rights reserved  Learning Objectives 1. Define the term product. 2.  Classify consumer products. 3.  Define the terms product item, product  line, and product mix. 4. Describe marketing uses of branding.
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3 COPYRIGHT © 2006 by Nelson, a division of Thomson Canada Limited. All rights reserved  Learning Objectives (continued) 5.  Describe marketing uses of packaging  and labelling. 6.  Discuss global issues in branding  and packaging. 7. Describe how and why product  warranties are important marketing  tools.
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4 COPYRIGHT © 2006 by Nelson, a division of Thomson Canada Limited. All rights reserved  Product Everything, both favourable and  unfavourable, that a person  receives in an exchange.
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5 COPYRIGHT © 2006 by Nelson, a division of Thomson Canada Limited. All rights reserved  Product A product may be a tangible good, a service,  an idea, or any combination of these three
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6 COPYRIGHT © 2006 by Nelson, a division of Thomson Canada Limited. All rights reserved  Product Classifications Business Product Consumer Product A product used to manufacture other  goods or services, to facilitate an  organization’s operations, or to resell to  other consumers. Product bought to satisfy an  individual’s personal wants
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7 COPYRIGHT © 2006 by Nelson, a division of Thomson Canada Limited. All rights reserved  Types of Consumer Products Unsought Products Specialty Products Shopping Products Convenience Products Consumer Products Business Products PRODUCTS Exhibit 8.1
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8 COPYRIGHT © 2006 by Nelson, a division of Thomson Canada Limited. All rights reserved  Types of Consumer Products Convenience  product Shopping  product Specialty  product Unsought  product A relatively inexpensive item that  merits little shopping effort. A product that requires comparison  shopping, because it is usually more  expensive and found in fewer stores. A particular item that consumers search extensively for and are  reluctant to accept substitutes. A product unknown to the potential  buyer or a known product that the  buyer does not actively seek.
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9 COPYRIGHT © 2006 by Nelson, a division of Thomson Canada Limited. All rights reserved  Product Items, Lines, and Mixes Product Item Product Line Product Mix A specific version of a product that can 
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This note was uploaded on 08/22/2009 for the course MKTG 1301 taught by Professor Bethpett during the Fall '05 term at Niagara College.

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Ch08_NE - Product Concepts Chapter 8 Prepared by Deborah...

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