Product Strategy Notes

Product Strategy Notes - MKTG 3104 Product Strategy CLASS...

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MKTG 3104 Product Strategy
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CLASS OBJECTIVES 1. Overview product strategy decisions (design, warranties, packaging) 2. What does product quality mean to customers? 3. What are the issues in putting together a product line?
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PRODUCT A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is received in exchange for money or some unit of value
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PRODUCT/SERVICE QUALITY Quality Dimensions (Garvin, 1988) Performance Basic benefits Features “Extra” benefits Reliability Probability of breakdown Durability Useful life Conformance Meets preset specifications Serviceability Ease, cost, friendliness of service Aesthetics Sensory impressions Perceived quality Customer quality beliefs How buyers define quality…within and across product classes
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IMPORTANCE OF QUALITY DIMENSIONS Excavator Jewelr y Drugs Performance Features Reliability Conformance Durability Serviceability Aesthetics Perceived quality
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PRODUCT LINE A group of closely related products Products in a line may be related by: Need satisfied xerox copier, paper lines Customers boeing defense, commercial lines Channels discount, specialty Price level Armani Prive, Georgio Armani lines
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Pantene ANTI-FRIZZ , CLARIFYING, CLEAN, CURLS, SMOOTH, BLONDE/RED/SILVER/DARK ENHANCING, COLOR REVIVAL, EXTRA STRAIGHT , FULL & THICK , ICE SHINE, VOLUME, TEXTURE, SMOOTH VITALITY, MOISTURE RENEWAL, BEAUTIFUL LENGTHS, BREAKAGE DEFENSE, MOISTURE BALANCE, RESTORATIVES TIME RENEWAL Aussie Infusium 23 Head and Shoulders Herbal Essence Fekkai Vidal Sassoon
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This note was uploaded on 12/14/2011 for the course MKTG 3104 taught by Professor Ebcoupey during the Fall '08 term at Virginia Tech.

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Product Strategy Notes - MKTG 3104 Product Strategy CLASS...

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