kotcha08 - Chapter 8 Product and Services Strategy 1 What...

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1          Chapter 8 Product and Services Strategy
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2 What is a Product? Product Product is anything that can be offered to a  market for attention, acquisition, use, or  consumption and that might satisfy a want or need. Includes: Physical Objects Services Events Persons Places Organizations Ideas Combinations of the above
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3  What is a Service? Service Service is a form of product that consist of  activities, benefits, or satisfactions offered for sale  that are essentially intangible and do not result in  the ownership of anything. Examples include: Banking Hotels Tax Preparation Home Repair Services
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4 Products, Services, and  Experiences Pure  Tangible  Good Pure  Service Soap Tangible  Good With  Accompanyin g Services Auto With  Accompanyin g Repair  Services Hybrid   Offer Restaurant Service     With  Accompanyin g Minor  Goods Airline Trip  With  Accompanyin g Snacks Doctor’s  Exam
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5 Brand Name Quality Level Packaging Design Features Delivery & Credit Installation Warranty After- Sale Service Core Benefit or Service Actual Product Core Product Augmented Product Levels of Product (Fig. 8.1)
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6 Unsought Products Unsought Products   New innovations  Products consumers don’t  want to think about these products  Require much advertising & personal selling   i.e Life insurance, blood donation Product Classifications Consumer Products Specialty Products Specialty Products   Special purchase efforts  High price  Unique characteristics  Brand identification  Few purchase locations   i.e Lamborghini, Rolex Shopping Products Shopping Products   Buy less frequently  Higher price  Fewer purchase locations  Comparison shop    i.e Clothing, cars, appliances Convenience Products Convenience Products   Buy frequently & immediately  Low priced  Mass advertising  Many purchase locations   i.e Candy, newspapers
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7 Supplies and Services Materials and Parts Capital Items Product Classifications Industrial Products Business Services: This advertisement from ServiceMaster offers services ranging from custodial, grounds, technology, and energy management.
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kotcha08 - Chapter 8 Product and Services Strategy 1 What...

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