Chapter 08 - 8 PrinciplesofMarketing Product,Services,and...

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Product, Services, and  Branding Strategy 8 8 Principles of Marketing
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Learning Objectives After studying this chapter, you should be able to: 1. Define product and the major classifications of  products and services 2. Describe the decisions companies make regarding  their individual  products and services, product  lines, and product mixes 3. Discuss branding strategy—the decisions  companies make in building and managing their  brands 4. Identify the four characteristics that affect the  marketing of a service and the additional marketing  considerations that services require 8-2
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Chapter Outline 1. What Is a Product? 2. Product and Service Decisions 3. Branding Strategy: Building Strong  Brands 4. Services Marketing 8-3
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What Is a Product? Products, Services, and Experiences Product  is anything that can be offered in a  market for attention, acquisition, use, or  consumption that might satisfy a need or  want Soap Toothpaste 8-4
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What Is a Product? Products, Services, and Experiences Service  is a form of product that consists of  activities, benefits, or satisfactions offered  for sale that are essentially intangible and do not result in ownership Doctor’s exam Legal advice 8-5
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What Is a Product? Experiences  represent what buying the product  or service will do for the customer Disney American Girl Toys “R” Us 8-6 Products, Services, and Experiences
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What Is a Product? Core benefits Actual product Augmented product 8-7 Levels of Product and Services
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What Is a Product? Levels of Product and Services Core benefits  represent what the buyer is really buying Actual product  represents the design, brand name,  and packaging that delivers the core benefit to the  customer Augmented product  represents additional services or  benefits of the actual product 8-8
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What Is a Product? Product and Service Classifications Consumer products Industrial products 8-9
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What Is a Product? Product and Service Classifications Consumer products  are products and services  for personal consumption Classified by how consumers buy them Convenience product Shopping products Specialty products Unsought products 8-10
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What Is a Product? Product and Service Classifications Convenience products  are consumer products  and services that the customer usually buys  frequently, immediately, and with a minimum  comparison and buying effort Newspapers Candy Fast food 8-11
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What Is a Product? Product and Service Classifications
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Chapter 08 - 8 PrinciplesofMarketing Product,Services,and...

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