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Product
anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need
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Service
an activity, benefit, or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything
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core customer value
What is the buyer really buying
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actual product
need to develop product, service features, a design, a quality level, a brand name, and packaging
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augmented product
offering additional consumer services and benefits warranty, instructions, quick repair services, website for problems and questions
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convenience product
- product that customers usually buy frequently,
- immediately, and with minimal comparison and buying effort
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shopping product
- product that the customer in the process of
- selecting and purchasing usually compares on such attributes as suitability, quality, price and style
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specialty product
- consumer product with unique characteristics or brand justification for which a significant group of buyers is willing to make a special purchase
- effort
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unsought product
a product that the consumer either does not know about or does not normally consider buying.
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Industrial product
those product purchased for further processing or for use in conducting business difference is purpose
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material and parts
- 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
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capital item
products that aid in the buyers production or operation including installations and accessory equipment
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Supplies and services
include operating supplies – lubricants, coal, paper, pencils and repair and maintenance items – paint, nails, brooms. – are the convenience products of industrial group
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organization marketing
activities undertaken to create, maintain, or change the attitude and behavior of target consumers toward an organization
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Person marketing
activities undertaken to create, maintain, or change attitudes or behaviors toward particular people.
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Place Marketing
activities under taken to create, maintain, or change attitudes and behaviors toward particular places
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Ideas
the use of commercial marketing concepts and tolls in programs designed to influence individuals behavior to improve their well being and that of society
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Product attributes
developing a product or service involves defining the benefits it will offer including quality features and style and design
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Product quality
that characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs
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Product features
competitive tool from differentiating products from competitors
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Style
describes the appearance of a product
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Design
contributes to the products usefulness as well as its looks looking at customer’s needs and shaping their product user experience
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Branding
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
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Packaging
the activities of designing and producing the container or wrapper for a product
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Labeling
identifies the product or brand such as the name Sunkist
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unit pricing
stating the price per unit of standard measure
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open dating
stating the expecting shelf life
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nutritional labeling
stating the nutritional values in the product
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Product line
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
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product line length
the number of items in the product line
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Product mix or portfolio
the set of all product lines and items that a particular seller offers for sale
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Service intangibility
the concept that services cannot be seen tasted felt heard or smelled before they are bought
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Service inseparability
- the concept that services are produced and consumed at the same time and cannot
- be separated from their providers
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Service Variability
the quality of service may vary greatly depending on who provides them and when, where, and how they are provided
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Service Perishability
the concept that services cannot be stored for later sale or use
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Service profit chain
the chain that links service firms profits with employee and customer satisfaction
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Internal marketing
orienting and motivating customer contact employees and service support people to work as a team to provide customer satisfaction
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Interactive marketing
training service employees in the fine art of interacting with customers to satisfy their needs
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Brand equity
the differential effect that knowing the brand name has on customer response to the product and its marketing
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brand valuation
process of estimating the total financial value of a brand customer equity
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Brand positioning
specific set of features, benefits, services, and experiences a company promises to deliver
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co-brand
using 2 established brand names on the same product
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Brand development
line extensions, brand extensions, multibrands, or new brands
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Line extensions
extending an existing brand name to new forms colors, sizes, ingredients, or flavors of an existing product category
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Brand extension
extending an existing brand name to new product categories
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Multibrands
- 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
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