Intro Mktg - 07 - Products - ch 9 & 10

Intro Mktg - 07 - Products - ch 9 & 10 - MKTG 2270...

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1 PRODUCTS C HAPTERS MKTG 2270 February 26, 2008
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2 A product is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a need or want A service is a form of product that consists of A service is a form of product that consists of activities, benefits or satisfactions offered for activities, benefits or satisfactions offered for sale that are essentially intangible and do not sale that are essentially intangible and do not result in ownership of anything result in ownership of anything Product
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3 Product The concept of a product also includes: Organizations Corporate image advertising Persons Professionals and politicians Place Tourism marketing Social ideas Social marketing: Marketing programs designed to influence individuals’ behavior to improve their well-being and society’s well- being
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4 Three levels of product Core benefit : What is the buyer really buying or trying to solve? Actual product : An actual product is built around the core product. It has a quality level, features, design, a brand name, and packaging. Augmented product : Built around the core and the actual product by offering additional consumer services and benefits (e.g., warranty, 24 hr. roadside service, call centers for problems and questions. .)
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5 Discussion Question Consider Starbucks -What goods and services do they offer? -How do they differentiate through experience? -What is their core, actual, and augmented product offering?
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6 Types of Consumer Products Convenience products -Frequent purchases with minimal buying effort and little comparison shopping -Low priced -Wide distribution -Mass promotion by producer e.g., snack foods, toiletries, candy bars, magazines, toothpaste, food products…….
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7 Types of Consumer Products Shopping products - Less frequent purchases -More shopping effort for comparisons -Higher prices than those of convenience products -Selective distribution in fewer outlets -Advertising and personal selling by producer and resellers e.g., Major appliances, furniture, cars, PCs…
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8 Types of Consumer products Specialty Products -Strong brand preference and loyalty, little brand comparisons, and low price sensitivity -High price -Exclusive distribution -Carefully targeted promotions e.g., Certain brands of auto, hard liquor or wine, custom-made men’s suit, watches….
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9 Types of Consumer products Unsought products -Little product awareness and knowledge (or if aware, sometimes negative interest) -Pricing and distribution varies -Aggressive advertising and personal selling by producers and resellers e.g., New unsought products – new electronic products; Regularly unsought products – life insurance, blood donations
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This note was uploaded on 10/19/2011 for the course MARKETING 2270 taught by Professor Kim during the Spring '11 term at Dalhousie.

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Intro Mktg - 07 - Products - ch 9 & 10 - MKTG 2270...

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