b10chap14 - 11/18/2011 1 Chapter 14: Developing and Pricing...

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Unformatted text preview: 11/18/2011 1 Chapter 14: Developing and Pricing Goods and Services 9 Let's Dish commercial 9 Dream Dinners News Segment True or False? The image created by advertising is part of the total product offer of a product. 11/18/2011 2 14-4 True or False? A firm's product line refers to all of the different geographic markets in which it sells the same good or service. Product Line -- A group of products that are physically similar or intended for a similar market. Product lines often include competing brands like:- M&Ms- Peanut M&Ms- Mint M&Ms- Dark Chocolate M&Ms 14-6 11/18/2011 3 Product Mix -- The combination of all product lines offered by a manufacturer or service provider. Product mixes like Proctor & Gambles can be extensive:- Laundry products- Cosmetics- Baby care- Snacks and beverages- Personal cleansing 14-7 14- 8 14- 9 11/18/2011 4 14- 10 14- 11 14- 12 11/18/2011 5 14- 13 These are SKUs 14-14 Laundry and Fabric Care Cheer Cheer Dark Downy Tide Product Line Brands Products Cheer Original Cheer High Efficiency More More 14- 15 The creation of real or perceived product differences. ` When actual product differences are small, marketers often use a creative mix of advertising, brand name, packaging, et cetera to differentiate their products. ` Example: laundry detergent 11/18/2011 6 Convenience Goods and Services -- Products consumers purchase frequently with minimal effort. These include:- Candy and snacks- Gas- Milk and eggs 14-16 Shopping Goods and Services -- Products consumers buy only after comparing value, quality, price, and styles. These include:- Clothes and shoes- Appliances and furniture- Childcare- Home remodeling 14-17 Specialty Goods and Services -- Products with unique characteristics and brand identity. These include:- Tiffany jewelry- Rolex watches- Lamborghini automobiles- Ritz Carlton Hotels 14-18 11/18/2011 7 True or False? Unsought goods and services are products consumers do not actively seek out for purchase on a regular basis....
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b10chap14 - 11/18/2011 1 Chapter 14: Developing and Pricing...

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