chapter 14 (NMM) - NMM AEM 1200 Intro to Bus Mgmt Chapter...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 14: Developing and Pricing Products and Services Total product offer (value package):  everything that consumers evaluate when  deciding whether to buy something, e.g. price, brand name, satisfaction in use, etc; they  often include value enhancers Product line :  group of physically similar products with similar competitors Product mix : company’s combination of product lines Product differentiation : marketers use a mix of pricing, advertising, and  packaging to make their products seem unique and attractive. Types of Goods Consumer goods are sold to ultimate consumers like you and me and not to  businesses o Convenience goods – best promoted by location o Shopping goods and services – best promoted by price/quality appeal  o Specialty goods and services (when consumers go out of their way to get  specific brands) – best promoted by specialty magazines and interactive  websites o Unsought goods and services  o Whether a good falls into a category depends on the individual customer Industrials goods are products sold in B2B market and are used in the production  of other products o Sold through salespeople; rely less on advertising o Installations (buildings, equipment, and capital items) o Accessory capital equipment (tools, office stuff) o Stationery o Service (maintenance and repair) Packaging –  becoming increasingly more important and taking over the sales function  for consumer goods. The functions are: Protect goods inside Describe contents Explain benefits of product Provide information on warranties, warnings, etc. Indicate price, value, and uses
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 4

chapter 14 (NMM) - NMM AEM 1200 Intro to Bus Mgmt Chapter...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online