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

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Marketing 6621

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Transcript of "Understanding Product"

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