Companies provide either a product or service.
A product is anything offered for
consumption in a tangible form, whereas a service is activities, benefits, or satisfactions
provided in an intangible form.
However, it is essential that a firm focuses on the
experience that a customer gets before, during, and after a considered purchase in order
to keep him or her coming back.
There are three levels of products and services.
Core customer value is what buyers are
actually buying and looking for.
Actual product consists of the features and designs, and
augmented product focuses on more broad features such as warranty and product
There are two types of products and services: consumer and industrial. Consumer
products are for personal consumption, consisting of convenience products, shopping
products, specialty products, and unsought products. Industrial products, which are used
Product attributes emphasize on branding (term, name, symbol), packaging (designing
and production of container), labeling (identification of brand), and product support
services (value assessment)
There are numerous operations that provide services today with different purposes or
The four service characteristics are intangibility (can’t see end results
beforehand), inseparability (employee part of service), variability (quality of services when
and where) and perishability (expirations).
Three types of service marketing are internal, personnel working as a team, interactive,
interface during service encounter, and external, companies to customers. However, they
face three marketing tasks, wanting to increase service differentiation, service quality,
and service productivity
Brands are powerful assets that must be carefully developed and managed.