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Ch 11

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  • Homshoring – hiring contract workers to do job from home
  • Transcript

    • 1. Product and Service Strategies
      Intro to Marketing
      Chapter 11
    • 2. What is a Product?
      A bundle of physical, service and symbolic attributes designed to satisfy a customers wants and needs.
      Consumers purchase benefits when they buy a product.
    • 3. What are Goods & Services?
      Goods
      Tangible Products Customers Can See, Hear, Smell, Taste or Touch
    • 4. Services
      Intangible
      Inseparable from the provider
      Perishable
      Not easily standardized
      Usually require frequent interaction between buyer and seller
      Quality varies
    • 5. Classifications - on basis of consumer buying habits
      Convenience - Products purchased frequently, immediately, with minimal effort.
      Impulse items
      Staples
      Emergency
      items & services
      -- Slotting Allowances
    • 6. Classifications - on basis of consumer buying habits.
      Shopping -Products purchased after comparisons of price, quality, style or color.
    • 7. Classifications - on basis of consumer buying habits.
      Specialty -Products
      that possess unique
      characteristics.
      Behavior patterns vary for each type of product.
    • 8. Types of Business Products
      Classified on the basis of use
      Installations - long lived, expensive
      Price isn’t important, downtime is
      Accessory Equipment - less expensive, short lived
      Component Parts & Materials - products that become part of final product
      Raw Materials
      Supplies
      Business Services
    • 9. Development of Product Lines
      A series of related products offered by a company
      Few firms today market only one product.
      Benefits of having product lines:
      growth
      use of company resources
      enhancing the firms position in market
      exploiting product life cycle
    • 10. Product Mix
      Width
      Number of product lines
      Length
      Number of products
      Depth
      Variations of each product
    • 11. Product Life Cycle
      Product Life Cycle is different from fashion and fad cycles.
    • 12. Product Life Cycle - extended by:
      Increase frequency of use
      Increase number of users
      Find new uses
      Change package sizes, labels, quality

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