CHAPTER 5 - Port Marketing Manual CHAPTER 5 PRODUCT 5.1...

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Port Marketing Manual CHAPTER 5 PRODUCT 5.1 BASIC CONCEPT ABOUT PORT’S PRODUCT 5.1.1 PRODUCT STRATEGY AND THE PRODUCT CONCEPT Product Strategy involves two parts. One is planning the product concept, the other is developing a unified mix of product attributes. When it comes to evaluating a product strategy, to discover whether it is successful or not, it usually requires that all aspects of the product be analyzed and managed in light of competitive offerings. The creative dimension of product strategy is to decide on which product features and which consumer benefits to stress. The product concept (so called the product positioning concept) defines the essence or core idea underlying the product features and benefits that appeal to the target market. The product concept reflects the selection of the marketing strategist and makes the two total product level (blending of a product’s primary characteristics and auxiliary dimensions) into a basic idea or unifying concept. Both the tangible and intangible benefits that a buyer might gain from a product once it has been purchased is what we call the total product. It is a broad spectrum and has two levels: Primary characteristics and Auxiliary dimensions. The former provides the essential benefits common to most competitive offerings, so are the basic features and aspects of the core product. As for the latter, a product provides supplementary benefits and includes special features, aesthetics, instructions, repair service, reputation and so on. The augmented product is embodied in each auxiliary dimension. Together, the buyer’s needs are met by these two groups of features. 5.1.2 WHAT IS PORT’S PRODUCT The product an organization offers to its market is not simply entities. In nuts-and-bolts sense, a product may be a thing, but it does not have to be something tangible, especially when mentioned in ports. Defining the product in terms of benefits allows anything from tangible items to services to ideas to be
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This note was uploaded on 03/04/2011 for the course ECON 178 taught by Professor Yangliu during the Fall '08 term at Tsinghua University.

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CHAPTER 5 - Port Marketing Manual CHAPTER 5 PRODUCT 5.1...

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