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Definition
| anything that can be offered in a market for attention, acquisition, use or consumption that might satisfy a need or want - Usually Tanigble |
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| any activity or benefit that one party can offer to another that is essentially intangible and does not result in ownership of anything |
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| represent what buying the product or service will do for the customer - Starbucks is exclusive hangout |
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| After sale service, warranty, product support, deliver and credit |
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| 3 Product & Service Classifications |
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| Connivence products, Shopping products, unsought products |
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| products or services that the customer usually buys frequently, immediately, and with minimum comparison and buying effort |
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| customer compares carefully on suitability, quality, price and style.... ex. furniture, cars |
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| consumer does not know about or knows about but does not normally think of buying..... ex. life insurance, funeral service |
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| products purchased for further processing or for use in conducting a business..... materials and parts, capital, raw materials. |
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| industrial products that aid in the buyer's production or operations....ex. Big drill machine |
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| create, maintain, or change attitudes and behavior of target consumers toward an organization |
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| create, maintain, or change attitudes and behavior of target consumers toward particular people......ex. Michael Vick |
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| create, maintain, or change attitudes and behavior of target consumers toward particular places......ex. gives their physical locations a new look and feel |
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| programs designed to influence individuals' behavior to improve their well-being and that of society....ex. don't drink and drive |
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| Individual Product and Service decisions |
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Definition
| product attributes -> Branding -> Packaging -> labeling |
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| quality (conformance quality), features, style and design |
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| name, term, sign or design that identifies the maker or seller of a product or service |
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| the container or wrapper for a product |
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| describes attributes and provide promotion |
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| closely related because they function in a similar manner..... Computers for apple |
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| number of items in a particular line |
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| Line filling and stretching |
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Definition
filling - adding between the base and the top when you fill in products
Stretching - adding on to the top or bottom of products |
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Definition
| all the products and items that a particular seller offers |
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| # of different product lines |
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| total # of items within product line |
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| # of versions offered of each product in the line |
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| how closely related the products are |
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| 4 items in building strong brand |
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Definition
| brand positioning -> brand name selection -> Brand sponsorship -> Brand development |
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| Building strong brands: brand positioning |
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Definition
| brand strategy decisions include product attributes, benefits, beliefs and values |
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| building strong brands: brand name selection |
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Definition
| Easy to remember, easy to pronounce, distinctive, etc. |
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| building strong brands: Brand sponsorship |
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Definition
| Manufacturer's brand, private brand, licensed brand (pharmaceutical), co-brand |
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Definition
| links service firm profits with employee and customer satisfaction |
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| Internal Marketing for service firms |
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Definition
| must orient and motivate its customer contact employees and supporting service people |
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Definition
| depends heavily on the quality of the buyer-seller interaction during a service encounter |
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| Managing Service Differentiation |
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Definition
| creates competitive advantage from the offer, delivery, and image of the service...Offer-includes distinctive features........Delivery-more able and reliable customer contact people..............Image-includes symbols and branding |
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Definition
| competitive advantage by delivering consistently higher quality than its competitors |
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