Chapter 14 – Developing and Pricing Products and Services

Chapter 14 – Developing and Pricing Products and Services

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Chapter 14 – Developing and Pricing Products and Services - Product Development and the Total Product Offer o Value – Good Quality at a fair price. Consumer look at the benefits and then subtract the cost to see if the benefits exceed the costs o Developing a total product offer Total Product Offer – Everything that consumers evaluate when deciding whether to buy something (also called a value package) o Product Lines and the Product Mix Product Line – A group of products that are physically similar or are intended for a similar market Product Mix – Combination of product lines offered by a manufacturer - Product Differentiation – The creation of real or perceived product differences o Marketing Different Classes of Consumer Goods and Services Convenience Goods and Services - Products that the consumer wants to purchase frequently and with a minimum of effort Shopping Goods and services – Products that a consumer buys only after comparing value, quality, price, and style from a variety of sellers Specialty Goods and services – Consumer products with unique characteristics and brand identity. Products are perceived to have no reasonable substitute. (fine watches, wines, etc) Unsought Goods and Services – Products that consumers are unaware of, haven’t necessarily thought of buying, or find that they need to solve an unexpected problem. (emergency car towing, burial services) o Marketing Industrial Goods and Services Industrial Goods - Products used in the production of other products
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This note was uploaded on 02/28/2010 for the course AEM 2200 taught by Professor Perez,p.d. during the Spring '07 term at Cornell University (Engineering School).

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Chapter 14 – Developing and Pricing Products and Services

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