Term
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Definition
| product is anything that can be offered to market for attention, acquisition, use, or comsumption that might satisfy a want or need. also includes events, persons, places, organizations, ideas etc---advice from your doctor, las vegas, etc. |
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Term
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Definition
| activities, benefits, satisfactions that are intangible and dont result in ownership of anything...banking, hotel, airline, home-repair services |
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Term
| levels of products and services |
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Definition
1. Core Customer Value
2. turn the core benefit into an ACTUAL PRODUCT (design, name, packaging, etc)
3. augmented product that centers on the benefit + extras too (warranty, etc) |
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Term
| four service characteristics |
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Definition
intangibility (cant see, touch, taste, etc)
variability (quality of service depends on who provides them)
inseperability ( services can't be separated from their providers)
perishability (services can't be stored for a later date) |
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Term
| product and service decisions |
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Definition
| product attributes (quality, style and design), branding, packaging, labeling and product support services |
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Term
| product and service attributes |
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Definition
| quality, features, and style and design |
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Term
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Definition
IDENTIFIES the product
DESCRIBES the product (where it was made, contents, etc)
PROMOTES the brand |
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Term
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Definition
| adding more items within the present range of the line |
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Term
| line extension (stretching) |
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Definition
| company lengthens its product line beyond its current range...stretch downward, upward, or both directions |
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Term
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Definition
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Term
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Definition
| differential effect that knowing a brand name has on a customer response to the product and its marketing. its a measure of the brands ability to capture consumer preference and loyalty. |
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