Chapter 10_Product Concepts

Chapter 10_Product Concepts - Lamb, Hair, McDaniel...

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1 Lamb, Hair, McDaniel CHAPTER 10 Product Concepts 2010-2011
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2 LO 1 Define the term product LO 2 Classify consumer products LO 3 Define the terms product item, product line, and product mix LO 4 Describe marketing uses of branding LO 5 Describe marketing uses of packaging and labeling LO 6 Discuss global issues in branding and packaging LO 7 Describe how and why product warranties are important marketing tools Learning Outcomes Learning Outcomes
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3 What Is a Product? Everything, both favorable and unfavorable, that a person receives in an exchange. Tangible Good Service Idea Person Product Product LO 1
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4 Products, Services, & Experiences: The Product/Service Continuum Pure  Tangible  Good Soap Hybrid   Offer Restaurant Pure  Service Doctor’s Exam Service     With  Accompanyin g Minor  Goods Airline Trip With Accompanying Snacks Tangible  Good With  Accompanyin g Services Auto With Accompanying Repair Services
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5 What Is a Product? Product is the starting point of Marketing Mix Promotion Promotion Place (Distribution) Place (Distribution) Price Price Product Product LO 1
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6 Classify consumer products Types of Consumer Products Types of Consumer Products LO 2
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7 Types of Consumer Products Unsought Products Unsought Products Specialty Products Specialty Products Shopping Products Shopping Products Convenience Products Convenience Products Consumer Products Consumer Products Business Products Business Products Products Products LO 2
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8 Product Classifications Consumer Products Unsought Products Unsought Products Specialty Products Specialty Products Shopping Products Shopping Products Convenience Products Convenience Products Low priced Mass advertising Many purchase locations Buy less frequently Higher price Fewer purchase locations Comparison shop
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Chapter 10_Product Concepts - Lamb, Hair, McDaniel...

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