Chapter 11 - MKTG 3104 Product Strategy CLASS OBJECTIVES 1 Overview product strategy decisions 2 What does product quality mean to customers 3 What

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Unformatted text preview: MKTG 3104 Product Strategy CLASS OBJECTIVES 1. Overview product strategy decisions 2. What does product quality mean to customers? 3. What are the issues in putting together a product line? 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 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… IMPORTANCE OF QUALITY DIMENSIONS Excavator Jewelr y Drugs Performance Features Reliability Conformance X Durability X Serviceability X Aesthetics X Perceived quality PRODUCT LINE A group of closely related products Products in a line may be related by: Need satisfied – (xerox copies, paper lines) Customers – (boeing defense, commerical lines) Channels- (discount, speciality) Quality/Price level – (Armani P&G Shampoo Product Line Pantene ANTI-FRIZZ , CLARIFYING, CLEAN, CURLS, SMOOTH, BLONDE/RED/SILVER/DARK ENHANCING, COLOR REVIVAL, EXTRA STRAIGHT , FULL & THICK , ICE SHINE, VOLUME, TEXTURE, SMOOTH...
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This note was uploaded on 12/20/2011 for the course MKTG 3104 taught by Professor Ebcoupey during the Fall '08 term at Virginia Tech.

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Chapter 11 - MKTG 3104 Product Strategy CLASS OBJECTIVES 1 Overview product strategy decisions 2 What does product quality mean to customers 3 What

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