Chapter_8_9 - Product (Goods, Services, Experiences, and...

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1 Product (Goods, Services, Experiences, and Ideas) (week 8)
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2 Learning objectives 1. Describe the nature of product in marketing management. 2. Explain the concept of the goods–services continuum. 3. Define the term product, including the core, actual and augmented product. 4. Outline the range of individual product decisions marketers make 1. Discuss branding 1. Identify the challenges in creating a new-product development strategy. 2. Evaluate the product life-cycle theory
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3 What is a Product? A product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need Some top level distinctions durable versus nondurable tangible versus intangible
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4 The balance between tangible and intangible
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5 Products and Services Continuum
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6 Characteristics of Services Intangibility Can’t judge prior to use High Involvement Emotional dimension Inseparability Simultaneous delivery and consumption Variability Many moments of truth Perishability A different kind of inventory
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Chapter_8_9 - Product (Goods, Services, Experiences, and...

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