Ch 11

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  • Homshoring – hiring contract workers to do job from home
  • Ch 11

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

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