MGT111-ch14 - Chapter 14 developing and pricing products...

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Chapter 14 developing and pricing products and services Product Development and the Total Product Offer Value: good quality at a fair price. When consumers calculate the value of a product, they look at the benefits and then subtract the cost to see if the benefits exceed the costs. Total Product Offer: consists of everything that customers evaluate when deciding whether to buy something. -Customers like shopping at outlet stores even though the quality might be worse. Customers believe they are getting quality goods at lower prices. -Different consumers ay want different total product offers, so a company may develop a variety of offerings. Ex: auto companies sometimes offer customers a choice between zero-percent financing and a rebate of thousand dollars. Of course, the autos themselves may have features such as automatic fold down seats, cup holders, global positioning systems etc. The consumer I invited to select from a variety of options. Product Line:
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This note was uploaded on 05/17/2011 for the course BUS 111 taught by Professor Schlommer during the Spring '11 term at Miami University.

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MGT111-ch14 - Chapter 14 developing and pricing products...

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