BK_Chapter011_Expanded

BK_Chapter011_Expanded - CHAPTER 11 Product and Service...

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Identify each of the types of business goods and services. Discuss how quality is used by marketers as a product strategy. Explain why firms develop lines of related products. 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 the way marketers typically measure product mixes and make product mix decisions. Explain the concept of the product life cycle. Describe how a firm can extend a product’s life cycle, and explain why certain products may be deleted. 5 3 6 9 0
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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. 0
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CHAPTER 11 Product and Service Strategies WHAT IS A PRODUCT? • People buy want satisfaction, not objects. • Example: Consumers buy televisions because they want entertainment, not because they want a box with a screen. 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. 0
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CHAPTER 11 Product and Service Strategies THE GOODS SERVICES CONTINUUM 0
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CHAPTER 11 Product and Service Strategies • Services distinguishable from goods in several ways: • Services are intangible. • Services are inseparable from the service providers. • Services are perishable. • Companies cannot easily standardize services. • Buyers often play important roles in the creation and distribution of services. • Service standards show wide variations. • Products often blur the distinction between goods and services. • Example: U-Haul is a service that rents trucks and moving vans, which are goods. 0
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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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BK_Chapter011_Expanded - CHAPTER 11 Product and Service...

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