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Chapter 13 - Chapter 13 Tuesday 6:41 PM Product and...

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Product and Distribution Strategies Product Classification Product: bundle of physical, service, and symbolic attributes - Convenience products: items the consumer seeks to purchase frequently, immediately and with little effort - Shopping products: typically purchased only after the buyer has compared competing products in competing stores - Specialty products: items that a purchaser is willing to make a special effort to obtain - Product Strategy Installations - major capital items, such as new factories, heavy equipment and machinery, and custom-made equipment. - Accessory equipment - includes less expensive and shorter-lived capital items than installations and involves fewer decision makers. - Component parts and materials - become part of a final product. - Raw materials - farm and natural products used in producing other final products. - Supplies - expense items used in a firm’s daily operation that do not become part of the final product. - Classifying Business Goods In B2B, greater emphasis on personal selling for installations and many component parts. - May involve customers in new-product development. - Advertising more commonly used to sell supplies and accessory equipment. - Also a greater emphasis on competitive pricing strategies. - Marketing Strategy implications Product line : group o related products that are physically similar or a re intended for the same market - Product mix : a company's assortment of product lines and individual Product Lines and Product Mix Chapter 13 Tuesday, November 23, 2010 6:41 PM Intro To Business Page 1
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Product mix : a company's assortment of product lines and individual offerings - Introduction stage : firm promotes demand for its new offering, - informs the market about it, gives free samples to entice consumers to make a trial purchase, and explains its features, uses, and benefits. Growth stage - sales climb quickly as new customers join early users who are repurchasing the item. Company begins to earn profits on the new product.
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