Final Summary Written Section

Final Summary Written Section - PRODUCT LAYERS Layers of...

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PRODUCT LAYERS Layers of the product o A product is everything a customer receives in an exchange o 4 layers Core product – product features or attributes – actual core product that the consumer is getting Example – soap with moisturizing cream Functional product – how the product functions – ease of application Augmented product – augmentation done to basic product – packaging Potential product – the true solution the customer gets from the product – consumer looks younger, longer Example – Gatorade o Core product – sports beverage with electrolytes o Functional product – replaces electrolytes, rehydrates o Augmented product – color, packaging, bottle shape o Potential product – better performance Physical features (core product) o Differentiated from others Wine tasting FDP Actual wine has a distinct taste differentiating it o Offers unique feature/proposition o Patent protection Have to have certain features to protect patent o Focus on consumer benefit - benefits Gatorade and electrolytes Packaging
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o As the marketer for the Le Whif, what things are important to consider with regards to packaging? Colors String Shape o Protect – need a Containing the product – need a container to protect/contain it o Inform – what the product is, what it does, what are the ingredients o Provide convenience – easy to transport o Promote – eye catching, promotional strategy o Advise on price – suggested price o Meet language/consumer protection guidelines – regulations about what the company has to communicate to the consumer Nutritional information Branding – name, term, sign, symbol, or design, or a combination of them intended to identify the goods and services of one seller or groups of sellers and to differentiate them from those of competition o Color – “trade dress” Marlboro Visa Microsoft Coca-cola o Term – might become part of the brand o Symbol Nike o Character
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PRICING STRATEGY Pricing exercise o For each product Identify your chosen target market Propose a retail price for your product
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This note was uploaded on 01/22/2011 for the course COMM 3315 at UVA.

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Final Summary Written Section - PRODUCT LAYERS Layers of...

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