Kotcha09 - Chapter9 Product,Services,and BrandingStrategies...

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1 Chapter 9 Product, Services, and  Branding Strategies
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2 What is a Product?          (p. 276-278) product product  is  anything  that can be offered to a market  for attention, acquisition, use, or consumption and that  might satisfy a want or need Physical Goods Services   (activities, benefits, etc. that are intangible -- do not  result in ownership of a physical good) Events Persons Places Organizations Ideas Experiences  (see Real Marketing 9.1, “Experience Economy”) Combinations of the above (see pp. 282-283)
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3 Products, Services, and  Experiences                   (pp. 277-278) Pure  tangible  good Pure  service Soap Tangible good  with  accompanying  services Automobile with  accompanying  repair services Hybrid   offer Restaurant Service with  accompanying  minor goods   Flight with  meal Doctor’s  exam Delivering an “experience” –    personal, takes place in the minds of customers  increasingly used to differentiate offers  consumers buy what products will do  for them  Product – Service Continuum
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4 Brand name Quality level Packaging Design Features Delivery & credit Installation Warranty After- sale service Core benefit or service 2. Actual Product The physical product or service 1. Core product What the consumer is  really  buying (addresses underlying need or problem ) 3. Augmented Product Additional (unexpected)  services & benefits to  provide the most satisfying customer experience Levels of Product and Services   (Fig. 9.1, pp. 279-280) Product is a complex bundle of benefits
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5 Unsought Products Unsought Products   Innovations (little awareness) &  products consumers don’t want to  think about (no initial desire)   Require much promotion (usually personal selling)   E.g., life insurance, blood donation Consumer Product/Services  Classification         (Table 9.1, pp. 280-281) Based on  Based on  buying  buying  behavior  behavior  X  influences strategy  influences strategy Specialty Products Specialty Products   Special purchase effort, but  little comparison of brands   Exclusive distribution  Carefully targeted promotions by producer & retailer   E.g., Lamborghini, Rolex, Prada Shopping Products Shopping Products   Buy less frequently, planned,  carefully compare alternatives  Selective distribution
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This note was uploaded on 06/28/2010 for the course MKTG 00HP01 taught by Professor Himanshu during the Spring '10 term at Indiana Institute of Technology.

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Kotcha09 - Chapter9 Product,Services,and BrandingStrategies...

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