products, services & brands chapter: 8 lec: 7a. what is a product? product anything that could...
TRANSCRIPT
![Page 1: Products, Services & Brands Chapter: 8 Lec: 7a. What is a product? Product Anything that could be offered to a market for attention, acquisition, use,](https://reader030.vdocuments.us/reader030/viewer/2022032604/56649e6c5503460f94b6b670/html5/thumbnails/1.jpg)
Products, Services & Brands
Chapter: 8Lec: 7a
![Page 2: Products, Services & Brands Chapter: 8 Lec: 7a. What is a product? Product Anything that could be offered to a market for attention, acquisition, use,](https://reader030.vdocuments.us/reader030/viewer/2022032604/56649e6c5503460f94b6b670/html5/thumbnails/2.jpg)
What is a product?
• Product Anything that could be offered to a
market for attention, acquisition, use, or consumption that might satisfy a want or need.
• Service Any activity or benefit that one party
can offer to another that is essentially intangible and does not result in the ownership of anything
![Page 3: Products, Services & Brands Chapter: 8 Lec: 7a. What is a product? Product Anything that could be offered to a market for attention, acquisition, use,](https://reader030.vdocuments.us/reader030/viewer/2022032604/56649e6c5503460f94b6b670/html5/thumbnails/3.jpg)
Products, Services, and Experiences
• Product is the key element in the overall market offering
-pure tangible goods e.g. soap, toothpaste, pen - pure services e.g. doctor’s exam - combination of goods and services e.g. restaurant (food + service)
![Page 4: Products, Services & Brands Chapter: 8 Lec: 7a. What is a product? Product Anything that could be offered to a market for attention, acquisition, use,](https://reader030.vdocuments.us/reader030/viewer/2022032604/56649e6c5503460f94b6b670/html5/thumbnails/4.jpg)
Products, Services, and Experiences
![Page 5: Products, Services & Brands Chapter: 8 Lec: 7a. What is a product? Product Anything that could be offered to a market for attention, acquisition, use,](https://reader030.vdocuments.us/reader030/viewer/2022032604/56649e6c5503460f94b6b670/html5/thumbnails/5.jpg)
Products, Services, and Experiences
• Experiences -customer experience is important - becoming important with each
passing day e.g. Disney, Kingfishers
![Page 6: Products, Services & Brands Chapter: 8 Lec: 7a. What is a product? Product Anything that could be offered to a market for attention, acquisition, use,](https://reader030.vdocuments.us/reader030/viewer/2022032604/56649e6c5503460f94b6b670/html5/thumbnails/6.jpg)
Service
![Page 7: Products, Services & Brands Chapter: 8 Lec: 7a. What is a product? Product Anything that could be offered to a market for attention, acquisition, use,](https://reader030.vdocuments.us/reader030/viewer/2022032604/56649e6c5503460f94b6b670/html5/thumbnails/7.jpg)
Levels of Product and Services
• Product planners need to think about products and services on three levels
• Each level adds more customer value 1- what is the buyer really buying? e.g. blackberry (connectivity on the go) 2- Turn the core benefit into an actual product - brand name, packaging, design, features etc. 3- Augmented product - additional consumer services and benefits
![Page 8: Products, Services & Brands Chapter: 8 Lec: 7a. What is a product? Product Anything that could be offered to a market for attention, acquisition, use,](https://reader030.vdocuments.us/reader030/viewer/2022032604/56649e6c5503460f94b6b670/html5/thumbnails/8.jpg)
Levels of Product and Services
![Page 9: Products, Services & Brands Chapter: 8 Lec: 7a. What is a product? Product Anything that could be offered to a market for attention, acquisition, use,](https://reader030.vdocuments.us/reader030/viewer/2022032604/56649e6c5503460f94b6b670/html5/thumbnails/9.jpg)
Levels of Product and Services
Brand name
Quality level
Core customer value
Features
Design
Packaging
Actual Product
Augmented
product
After-
Sale service
Warranty
Delivery and credit
Product support
![Page 10: Products, Services & Brands Chapter: 8 Lec: 7a. What is a product? Product Anything that could be offered to a market for attention, acquisition, use,](https://reader030.vdocuments.us/reader030/viewer/2022032604/56649e6c5503460f94b6b670/html5/thumbnails/10.jpg)
Product and Service Classifications
Products and services fall into two broad categories
• Consumer Products• Industrial ProductsConsumer Products A product bought by final consumer
for personal consumption
![Page 11: Products, Services & Brands Chapter: 8 Lec: 7a. What is a product? Product Anything that could be offered to a market for attention, acquisition, use,](https://reader030.vdocuments.us/reader030/viewer/2022032604/56649e6c5503460f94b6b670/html5/thumbnails/11.jpg)
Product and Service Classifications
• Convenience product A consumer product that customers
usually buy frequently, immediately, and with minimum of comparison and buying effort
e.g. soft drink, chewing gum• Shopping product A consumer product that the customer, in
the process of selection and purchase, usually compares on such bases as suitability, quality, price and style.
e.g. furniture, clothing
![Page 12: Products, Services & Brands Chapter: 8 Lec: 7a. What is a product? Product Anything that could be offered to a market for attention, acquisition, use,](https://reader030.vdocuments.us/reader030/viewer/2022032604/56649e6c5503460f94b6b670/html5/thumbnails/12.jpg)
Product and Service Classifications
Convenience productShopping product
![Page 13: Products, Services & Brands Chapter: 8 Lec: 7a. What is a product? Product Anything that could be offered to a market for attention, acquisition, use,](https://reader030.vdocuments.us/reader030/viewer/2022032604/56649e6c5503460f94b6b670/html5/thumbnails/13.jpg)
Product and Service Classifications
• Specialty product A consumer product with unique
characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort
e.g. designer clothes, refrigerators• Unsought product A consumer product that the consumer
either does not know about or knows about but does not normally think of buying
e.g. preplanned funeral services
![Page 14: Products, Services & Brands Chapter: 8 Lec: 7a. What is a product? Product Anything that could be offered to a market for attention, acquisition, use,](https://reader030.vdocuments.us/reader030/viewer/2022032604/56649e6c5503460f94b6b670/html5/thumbnails/14.jpg)
Specialty product
![Page 15: Products, Services & Brands Chapter: 8 Lec: 7a. What is a product? Product Anything that could be offered to a market for attention, acquisition, use,](https://reader030.vdocuments.us/reader030/viewer/2022032604/56649e6c5503460f94b6b670/html5/thumbnails/15.jpg)
Product and Service Classifications
• Industrial product A product bought by
individuals and organizations for further processing or for use in conducting a business.
e.g. raw materials
![Page 16: Products, Services & Brands Chapter: 8 Lec: 7a. What is a product? Product Anything that could be offered to a market for attention, acquisition, use,](https://reader030.vdocuments.us/reader030/viewer/2022032604/56649e6c5503460f94b6b670/html5/thumbnails/16.jpg)
Product and Service Classifications
• Organizations, persons, Places, and Ideas
- Organizations: non-profit, to raise funds profit, corporate image - person: celebrities e.g. Shahrukh, Imran
khan - Place: e.g. Malaysia truly Asia - Ideas: e.g. what an idea sir jee e.g. social messages
![Page 17: Products, Services & Brands Chapter: 8 Lec: 7a. What is a product? Product Anything that could be offered to a market for attention, acquisition, use,](https://reader030.vdocuments.us/reader030/viewer/2022032604/56649e6c5503460f94b6b670/html5/thumbnails/17.jpg)
Place Marketing
![Page 18: Products, Services & Brands Chapter: 8 Lec: 7a. What is a product? Product Anything that could be offered to a market for attention, acquisition, use,](https://reader030.vdocuments.us/reader030/viewer/2022032604/56649e6c5503460f94b6b670/html5/thumbnails/18.jpg)
People Marketing
![Page 19: Products, Services & Brands Chapter: 8 Lec: 7a. What is a product? Product Anything that could be offered to a market for attention, acquisition, use,](https://reader030.vdocuments.us/reader030/viewer/2022032604/56649e6c5503460f94b6b670/html5/thumbnails/19.jpg)
People Marketing
![Page 20: Products, Services & Brands Chapter: 8 Lec: 7a. What is a product? Product Anything that could be offered to a market for attention, acquisition, use,](https://reader030.vdocuments.us/reader030/viewer/2022032604/56649e6c5503460f94b6b670/html5/thumbnails/20.jpg)
Product and Service Decisions
• Product Quality The characteristics of a product or
service that bear on its ability to satisfy stated or implied customer needs
- marketers major positioning tool - creating customer value and
satisfaction TQM All the company’s people involved in
constantly improving products quality
![Page 21: Products, Services & Brands Chapter: 8 Lec: 7a. What is a product? Product Anything that could be offered to a market for attention, acquisition, use,](https://reader030.vdocuments.us/reader030/viewer/2022032604/56649e6c5503460f94b6b670/html5/thumbnails/21.jpg)
Individual product Decisions
Product Attributes Branding Packaging Labeling
Product support services
![Page 22: Products, Services & Brands Chapter: 8 Lec: 7a. What is a product? Product Anything that could be offered to a market for attention, acquisition, use,](https://reader030.vdocuments.us/reader030/viewer/2022032604/56649e6c5503460f94b6b670/html5/thumbnails/22.jpg)
Product and Service Decisions
• Product style and design
style- appearance of the product
design- product’s usefulness, as well as looks
![Page 23: Products, Services & Brands Chapter: 8 Lec: 7a. What is a product? Product Anything that could be offered to a market for attention, acquisition, use,](https://reader030.vdocuments.us/reader030/viewer/2022032604/56649e6c5503460f94b6b670/html5/thumbnails/23.jpg)
Product and Service Decisions
• Brand A name, term, sign, symbol,
design, or a combination of these that identifies the products or services of one seller or group of sellers and differentiate them from those of competitors
- same quality every time they’ll buy the product
- legal protection
![Page 24: Products, Services & Brands Chapter: 8 Lec: 7a. What is a product? Product Anything that could be offered to a market for attention, acquisition, use,](https://reader030.vdocuments.us/reader030/viewer/2022032604/56649e6c5503460f94b6b670/html5/thumbnails/24.jpg)
Brands
![Page 25: Products, Services & Brands Chapter: 8 Lec: 7a. What is a product? Product Anything that could be offered to a market for attention, acquisition, use,](https://reader030.vdocuments.us/reader030/viewer/2022032604/56649e6c5503460f94b6b670/html5/thumbnails/25.jpg)
Product and Service Decisions
• Packaging The activities of designing
and producing the container or wrapper for a product
- primary function: hold the product
- package becomes a promotional medium
- easy to open - product safety
![Page 26: Products, Services & Brands Chapter: 8 Lec: 7a. What is a product? Product Anything that could be offered to a market for attention, acquisition, use,](https://reader030.vdocuments.us/reader030/viewer/2022032604/56649e6c5503460f94b6b670/html5/thumbnails/26.jpg)
Packaging
![Page 27: Products, Services & Brands Chapter: 8 Lec: 7a. What is a product? Product Anything that could be offered to a market for attention, acquisition, use,](https://reader030.vdocuments.us/reader030/viewer/2022032604/56649e6c5503460f94b6b670/html5/thumbnails/27.jpg)
Product and Service Decisions
• Labeling - simple tags to complex
graphics - who made it, where was it
made, contents, how to be used
• Product support services - services that augment
actual product - sales, after-sale services