Marketing Ch 7

anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need

an activity, benefit, or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything

What is the buyer really buying

need to develop product, service features, a design, a quality level, a brand name, and packaging

offering additional consumer services and benefits warranty, instructions, quick repair services, website for problems and questions

• product that customers usually buy frequently,
• immediately, and with minimal comparison and buying effort

• product that the customer in the process of
• selecting and purchasing usually compares on such attributes as suitability, quality, price and style

• consumer product with unique characteristics or brand justification for which a significant group of buyers is willing to make a special purchase
• effort

a product that the consumer either does not know about or does not normally consider buying.

those product purchased for further processing or for use in conducting business difference is purpose

• include raw materials, manufactured materials
• and parts 
• o raw materials – farm products wheat, cotton,
• livestock, fruits, vegetables and natural products fish, lumber, crude
• petroleum, iron ore

• o manufactured materials and parts – iron, yarn,
• cement, and parts sold directly to industrial users

products that aid in the buyers production or operation including installations and accessory equipment

include operating supplies – lubricants, coal, paper, pencils and repair and maintenance items – paint, nails, brooms.  – are the convenience products of industrial group

activities undertaken to create, maintain, or change the attitude and behavior of target consumers toward an organization

activities undertaken to create, maintain, or change attitudes or behaviors toward particular people.

activities under taken to create, maintain, or change attitudes and behaviors toward particular places

the use of commercial marketing concepts and tolls in programs designed to influence individuals behavior to improve their well being and that of society

developing a product or service involves defining the benefits it will offer including quality features and style and design

that characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs

competitive tool from differentiating products from competitors

describes the appearance of a product

contributes to the products usefulness as well as its looks looking at customer’s needs and shaping their product user experience

a name, term, sign, symbol, or design, or combination of these that identifies the products or services of one seller or group of seller and differentiates them from those of competitors

the activities of designing and producing the container or wrapper for a product

identifies the product or brand such as the name Sunkist

stating the price per unit of standard measure

stating the expecting shelf life

stating the nutritional values in the product

a group of products that are closely related because they function in a similar manner, are sold to the same customer groups are marketing through the same types of outlets or fall within given price ranges

the number of items in the product line

the set of all product lines and items that a particular seller offers for sale

the concept that services cannot be seen tasted felt heard or smelled before they are bought

• the concept that services are produced and consumed at the same time and cannot
• be separated from their providers

the quality of service may vary greatly depending on who provides them and when, where, and how they are provided

the concept that services cannot be stored for later sale or use

the chain that links service firms profits with employee and customer satisfaction

orienting and motivating customer contact employees and service support people to work as a team to provide customer satisfaction

training service employees in the fine art of interacting with customers to satisfy their needs

the differential effect that knowing the brand name has on customer response to the product and its marketing

process of estimating the total financial value of a brand customer equity

specific set of features, benefits, services, and experiences a company promises to deliver

using 2 established brand names on the same product

line extensions, brand extensions, multibrands, or new brands

extending an existing brand name to new forms colors, sizes, ingredients, or flavors of an existing product category

extending an existing brand name to new product categories

• many different brands in a given product category offers a way to establish
• features that appeal to different customers segments capture a larger market share