FB 2601 Week 7 0910_thin

FB 2601 Week 7 0910_thin - LO LO Learning Outcomes Define...

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1 Learning Outcomes Define product and classify consumer products Discuss the differences between services and goods Define the terms product item, product line, and product mix Describe marketing uses of branding, packaging and labeling Explain the product life cycle concept LO LO
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2 LO What Is a Product? Product Everything, both favorable and unfavorable, that a person receives in an exchange. Tangible Good Service Idea
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3 What’s this product’s positioning?
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4 LO What Is a Product? Promotion Promotion Place (Distribution) Place (Distribution) Price Price Product Product Product is the starting point of Marketing Mix
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5 4P’s of 3 kinds of Products Product Convenience Shopping Specialty Price Place Promotion
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6 LO Types of Products 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. A product bought to satisfy an individual’s personal needs or wants
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7 LO Types of Consumer Products Unsought Products Specialty Products Shopping Products Convenience Products Consumer Products Business Products Products
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8 LO Types of Consumer Products Market Development Diversification Increase market share among existing customers Attract new customers to existing products Introduce new products into new markets Create new products for present markets 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 for which consumers search extensively 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 3 kinds of Goods (tangible products): 1. Convenience Goods http://www.blazedesign.co.uk/images/portfolio/portfolioandrex1.jpg
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FB 2601 Week 7 0910_thin - LO LO Learning Outcomes Define...

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