0324536380_77281

0324536380_77281 - CHAPTER 11 Product and Service...

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CHAPTER 11 Product and Service Strategies Chapter Objectives Product and Service Strategies CHAPTER    11 1 2 4 7 8 Define product and distinguish between goods and services and how they relate to the goods-services continuum. Explain the importance of the service sector in today’s marketplace. List the classifications of consumer goods and services and briefly describe each category. Describe each of the types of business goods and services. Explain how quality is used by marketers as a product strategy. Explain why firms develop lines of related products. Describe the way marketers typically measure product mixes and make product mix decisions. Explain the concept of the product life cycle and identify the different stages. Describe how a firm can extend a product’s life cycle, and explain why certain products may be deleted. 5 3 6 9
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CHAPTER 11 Product and Service Strategies Marketing mix Blending of the four strategy elements —product, distribution, promotion, and price—to fit the needs and preferences of a specific target market. • Marketers develop strategies to sell both tangible goods and intangible services.
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CHAPTER 11 Product and Service Strategies WHAT IS A PRODUCT? • People buy want satisfaction, not objects. Product Bundle of physical, service, and symbolic attributes designed to satisfy a customer’s wants and needs. WHAT ARE GOODS AND SERVICES? Services Intangible tasks that satisfy the needs of consumer and business users. Goods Tangible products that customers can see, hear, smell, taste, or touch.
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CHAPTER 11 Product and Service Strategies IMPORTANCE OF THE SERVICE SECTOR • Service sector makes up more than two-thirds of the U.S. economy.
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This note was uploaded on 03/26/2011 for the course MKT 320 taught by Professor Finder during the Spring '08 term at North Alabama.

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0324536380_77281 - CHAPTER 11 Product and Service...

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