Understanding Product

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Marketing 6621

Marketing 6621

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  • 1. Product understanding
  • 2. ProductA good, method, information, object or service created to serve a need or satisfy a want.
  • 3. Example Needs/Wants
  • 4. Example Needs/Wants Phone Service
  • 5. Example Needs/Wants Phone Service Music
  • 6. Example Needs/Wants Phone Service Music Entertainment
  • 7. Example Needs/Wants Phone Service Music Entertainment Product=
  • 8. Example Needs/Wants Phone Service Music Entertainment Product=
  • 9. FeatureA physical characteristic or quality of a product, a description of something a person can touch, feel, smell, see, or measure.
  • 10. Example
  • 11. BenefitThe satisfaction that a customer wants from a good or service.
  • 12. BenefitA benefit that is easily recognizable. Obvious
  • 13. Example No stylus means there is no extra parts that could be lost and needed to replace.
  • 14. BenefitBenefit that come only with the purchase of a particular product. Unique
  • 15. Example Finger print identity scanner for added security.
  • 16. BenefitBenefit that is not usually seen without the assistance of a salesperson. Hidden
  • 17. Example iPhone 5 has 13 LTE Bands for faster download and upload speeds.
  • 18. Selling Part of a sales presentation where the salesperson points out that a good or service has features that will benefit the customer. Feature/Benefit