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F11MKT300_Product1 - Product(1 Agenda Product Definitions...

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Product (1) Agenda Product – Definitions & Classification Product Decisions Analytics: Profit Analysis of Product Line Extension
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Definitions q Product: a nything that can be offered in a market for attention, acquisition, use, or consumption that might satisfy a need or want q Service : activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything At the core, the company is asking: “What is the customer really buying?” Product Attributes
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# What is the Customer Really Buying?
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# What is the Customer Really Buying?
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# What is the Customer Really Buying?
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Product Classifications Consumer Products : products and services for personal consumption Convenience products are consumer products and services that the customer usually buys frequently, immediately, and with a minimum comparison and buying effort Shopping products are consumer products and services that the customer compares carefully on suitability, quality, price, and style
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# Examples
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# Examples
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Product Classifications Industrial products: products purchased for further
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