Godds services continuum
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1) A product is defined as an idea, physical good, service, or combination thereof that satisfies individual or business needs. 2) There is a continuum between goods and services, with goods being tangible and standardized and services being intangible, perishable, inseparable, and variable. 3) Products can be differentiated based on their attributes and how they are perceived relative to competitors' offerings.
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Services Marketing
The document provides an overview of services marketing concepts including:
1) It defines services and identifies key differences between goods and services such as intangibility, perishability, and simultaneous production and consumption.
2) It introduces the services marketing triangle and expanded 7Ps marketing mix framework for services.
3) It discusses models for understanding service quality like the gaps model and challenges in consumer behavior related to services like higher perceived risk and difficulty evaluating service alternatives.
Services Marketing Notes(PPT)
The document discusses customer expectations of service quality. It begins by defining the different types of expectations customers can have - from ideal expectations where they want the best possible service, to acceptable expectations where they expect adequate service, to minimum tolerable expectations. It then discusses the factors that influence the formation of customer expectations, such as word of mouth, past experiences, and personal needs. Meeting or exceeding customer expectations is key to delivering good quality service. Managing customer expectations is the first step for companies.
Introduction to services
Introduction to Services, Growth of service sector economy, Service characteristics, Service classification, Service marketing mix
Classification and Characteristics of a service
The document discusses the key characteristics and classifications of services. It identifies 8 main characteristics of services: intangibility, perishability, inseparability, heterogeneity, ownership, simultaneity, quality measurement, and nature of demand. Services are also classified in several ways, including based on customer involvement (people processing, possession processing, mental stimulus processing, information processing). They can also be classified based on tangibility, whether linked to tangible goods or not. Services are further classified based on business orientation, skill/expertise requirements, and end user (consumer, business-to-business, industrial).
7 ps of service marketing
The 7 P's of marketing are: 1) Product, 2) Place, 3) Price, 4) Promotion, 5) Physical environment, 6) Process, and 7) People. The document discusses each of the 7 P's, with Product focusing on the benefits provided to customers, Place emphasizing the location and ambience of service delivery, and Price ensuring the customer receives better value than monetary cost. Promotion communicates benefits to influence interest, while Physical environment and Process work to enhance service use and delivery. People are both the customers utilizing services and employees interacting with customers.
Service Encounter
This document discusses service encounters from a lecture presented by Dr. Niraj Chaudhari. It defines a service encounter as the initial interaction between a customer and service provider. More than half of multinational corporations are involved in providing services, making the study of service encounters increasingly important. The document goes on to discuss the triad of a service encounter, its characteristics, types, elements, and the role of technology. It also examines self-service, customer-dominated encounters, contact personnel-dominated encounters, and service organization-dominated encounters. Finally, it briefly mentions the functions, models, control, and design of service organizations.
Service market segmentation and targeting
1. Segmentation, targeting, and positioning are strategic marketing fundamentals used to generate competitive advantage and business opportunities. Segmentation involves dividing the market into distinct groups that share common characteristics, needs, behaviors, or patterns.
2. There are four types of service organizations based on their service focus and market focus: unfocused, service focused, market focused, and fully focused. Market segmentation recognizes the need for specialization to suit market segments rather than trying to be all things to all people.
3. Market segmentation leads to more efficient resource utilization, improved market manageability by dividing into smaller parts, and an enhanced ability to satisfy customers. The objectives of segmentation are to identify similarities and differences between buyer needs in segments
Services Marketing - Service Positioning
Service Positioning
After a service strategy has been identified, a company must decide how to position its product most effectively. The concept of positioning involves establishing a distinctive place in the minds of target customers relative to competing products.
In “The New Positioning: The Latest on the World's #1 Business Strategy”, Jack Trout distills the essence of positioning into the following four principles
1. A company must establish a position in the minds of its targeted customers.
2. The position should be singular, providing one simple and consistent message.
3. The position must set a company apart from its competitors.
4. A company cannot be all things to all people—it must focus its efforts.
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Companies use positioning strategies to distinguish their services from competitors and to design communications that convey their desired position to customers and prospects in the chosen market segments. There are a number of different dimensions around which positioning strategies can be developed.
Recommended
Services Marketing
The document provides an overview of services marketing concepts including:
1) It defines services and identifies key differences between goods and services such as intangibility, perishability, and simultaneous production and consumption.
2) It introduces the services marketing triangle and expanded 7Ps marketing mix framework for services.
3) It discusses models for understanding service quality like the gaps model and challenges in consumer behavior related to services like higher perceived risk and difficulty evaluating service alternatives.
Services Marketing Notes(PPT)
The document discusses customer expectations of service quality. It begins by defining the different types of expectations customers can have - from ideal expectations where they want the best possible service, to acceptable expectations where they expect adequate service, to minimum tolerable expectations. It then discusses the factors that influence the formation of customer expectations, such as word of mouth, past experiences, and personal needs. Meeting or exceeding customer expectations is key to delivering good quality service. Managing customer expectations is the first step for companies.
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Introduction to Services, Growth of service sector economy, Service characteristics, Service classification, Service marketing mix
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The document discusses the key characteristics and classifications of services. It identifies 8 main characteristics of services: intangibility, perishability, inseparability, heterogeneity, ownership, simultaneity, quality measurement, and nature of demand. Services are also classified in several ways, including based on customer involvement (people processing, possession processing, mental stimulus processing, information processing). They can also be classified based on tangibility, whether linked to tangible goods or not. Services are further classified based on business orientation, skill/expertise requirements, and end user (consumer, business-to-business, industrial).
7 ps of service marketing
The 7 P's of marketing are: 1) Product, 2) Place, 3) Price, 4) Promotion, 5) Physical environment, 6) Process, and 7) People. The document discusses each of the 7 P's, with Product focusing on the benefits provided to customers, Place emphasizing the location and ambience of service delivery, and Price ensuring the customer receives better value than monetary cost. Promotion communicates benefits to influence interest, while Physical environment and Process work to enhance service use and delivery. People are both the customers utilizing services and employees interacting with customers.
Service Encounter
This document discusses service encounters from a lecture presented by Dr. Niraj Chaudhari. It defines a service encounter as the initial interaction between a customer and service provider. More than half of multinational corporations are involved in providing services, making the study of service encounters increasingly important. The document goes on to discuss the triad of a service encounter, its characteristics, types, elements, and the role of technology. It also examines self-service, customer-dominated encounters, contact personnel-dominated encounters, and service organization-dominated encounters. Finally, it briefly mentions the functions, models, control, and design of service organizations.
Service market segmentation and targeting
1. Segmentation, targeting, and positioning are strategic marketing fundamentals used to generate competitive advantage and business opportunities. Segmentation involves dividing the market into distinct groups that share common characteristics, needs, behaviors, or patterns.
2. There are four types of service organizations based on their service focus and market focus: unfocused, service focused, market focused, and fully focused. Market segmentation recognizes the need for specialization to suit market segments rather than trying to be all things to all people.
3. Market segmentation leads to more efficient resource utilization, improved market manageability by dividing into smaller parts, and an enhanced ability to satisfy customers. The objectives of segmentation are to identify similarities and differences between buyer needs in segments
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After a service strategy has been identified, a company must decide how to position its product most effectively. The concept of positioning involves establishing a distinctive place in the minds of target customers relative to competing products.
In “The New Positioning: The Latest on the World's #1 Business Strategy”, Jack Trout distills the essence of positioning into the following four principles
1. A company must establish a position in the minds of its targeted customers.
2. The position should be singular, providing one simple and consistent message.
3. The position must set a company apart from its competitors.
4. A company cannot be all things to all people—it must focus its efforts.
Positioning and Marketing Strategy
Companies use positioning strategies to distinguish their services from competitors and to design communications that convey their desired position to customers and prospects in the chosen market segments. There are a number of different dimensions around which positioning strategies can be developed.
Marketing concepts
This document discusses key concepts in marketing. It defines marketing as an integrated process through which companies build relationships and create value for customers. The document outlines core concepts like understanding customer needs and targeting specific market segments. It also describes how the focus of marketing has evolved from production and selling to a customer-centric approach centered on creating value and satisfaction. Marketing is defined as being vital to organizational success by anticipating customer wants and delivering superior value compared to competitors.
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The document discusses a three stage model of consumer decision making for services: 1) The pre-purchase stage involves recognizing a need, searching for information, and evaluating alternatives. This stage is difficult for services with intangible attributes. 2) The service encounter stage involves interactions with the service provider, such as placing an order or receiving the service. 3) The post-purchase stage involves evaluating service performance against expectations, which can be positively, negatively, or neutrally disconfirmed, and determining future intentions.
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This document provides an overview of consumer behavior. It defines consumer behavior and notes it is influenced by factors like culture, social class, psychology, and more. It discusses the different types of consumers like customers, buyers, and institutional buyers. The document also outlines the consumer decision process from obtaining a product to consuming and disposing of it. It explains how understanding consumer behavior can help with marketing by informing market analysis, target selection, and strategy. The document concludes that understanding consumer needs and wants is important for business success.
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Assist in evaluation
Provide post purchase feedback
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Influencer: - Provide technical advice
Recommend suppliers
User: - Provide product specifications
Evaluate product performance
Top Management: - Approve major purchase
Provide budget & policy guidelines
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Services have five key characteristics: (1) lack of ownership, (2) intangibility, (3) inseparability of production and consumption, (4) perishability, and (5) heterogeneity. The marketing of services also involves analyzing the 7Ps of the marketing mix - product, price, place, promotion, people, physical evidence, and process. Managing services is more complicated than managing products because services are harder to standardize due to the many input factors involved, including people, physical environment, and operational processes.
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This document provides an overview of services marketing. It discusses four categories of services: people processing, possession processing, mental stimulus processing, and information processing. It also discusses the traditional marketing mix (product, price, place, promotion) applied to services, as well as the extended services marketing mix of physical evidence, process, and people. Key characteristics of services are discussed, including intangibility, inseparability, heterogeneity, and perishability. The document also covers consumer behavior models for services, including the three-stage model of service consumption and the servuction model. It defines factors that influence customers' expectations and perceptions of service quality. Finally, it discusses differentiated and undifferentiated marketing strategies and how they relate to market
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The document defines and explains the key elements of a service blueprint:
1) It captures the steps and sequences in a service process from the customer's perspective.
2) A service blueprint shows the service delivery process and specifies the physical evidence, staff actions, and support systems needed to deliver the service across different channels.
3) The key elements are customer actions, front stage actions visible to customers, back stage actions invisible to customers, and supporting processes.
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To know more about Welingkar School’s Distance Learning Program and courses offered, visit:
http://www.welingkaronline.org/distance-learning/online-mba.html
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Post Purchase Consumer Behaviour
1) After making a purchase, consumers may experience post-purchase dissonance or doubts about their decision. They will seek information to justify their choice and reduce these doubts.
2) Most purchases are followed by product use. How the product is used and disposed of is evaluated by the consumer. Satisfaction depends on whether expectations are met or exceeded by the product's performance.
3) Post-purchase actions include repeat purchases, brand switching, or discontinuing use, depending on the consumer's level of satisfaction. Marketers should monitor post-purchase behavior and satisfaction to improve products, marketing, and customer retention.
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This document discusses key concepts in marketing. It defines marketing as an integrated process through which companies build relationships and create value for customers. The document outlines core concepts like understanding customer needs and targeting specific market segments. It also describes how the focus of marketing has evolved from production and selling to a customer-centric approach centered on creating value and satisfaction. Marketing is defined as being vital to organizational success by anticipating customer wants and delivering superior value compared to competitors.
Nature and scope of industrial marketing
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The document discusses various aspects of services marketing. It begins by defining key terms like marketing, services, and customer expectations. It then covers characteristics of services like intangibility, heterogeneity, inseparability, and perishability. The challenges of services marketing are discussed along with potential solutions. Key frameworks for understanding customer expectations and service quality are introduced, including the SERVQUAL model. Strategic issues like market segmentation, targeting, positioning, and differentiation strategies are also summarized.
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The document discusses a three stage model of consumer decision making for services: 1) The pre-purchase stage involves recognizing a need, searching for information, and evaluating alternatives. This stage is difficult for services with intangible attributes. 2) The service encounter stage involves interactions with the service provider, such as placing an order or receiving the service. 3) The post-purchase stage involves evaluating service performance against expectations, which can be positively, negatively, or neutrally disconfirmed, and determining future intentions.
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Business to business marketing ppt
- Provide technical information
Assist in evaluation
Provide post purchase feedback
Decider: - Approve the purchase
Final decision maker
Gatekeeper: - Control information flow
Screening suppliers
Influencer: - Provide technical advice
Recommend suppliers
User: - Provide product specifications
Evaluate product performance
Top Management: - Approve major purchase
Provide budget & policy guidelines
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- Importance of Market Segmentation
- Bases for Segmenting Business Markets
- Geographic Segmentation
- Demographic Segmentation
- Psychographic Segmentation
- Behavioral Segmentation
- Benefit Segmentation
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Creating customer value is the driving force behind a company's goals, and identifying the appropriate customer value measure is not an easy task. Adding services, relationships, and experiences differentiates company offerings in the market. No real customer value exists without a close relationship with customers to understand their needs and provide sophisticated customer interactions.
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Christopher Lovelock developed the service flower model to illustrate core services surrounded by supplementary services. The model consists of 8 petals, with 4 facilitating supplementary services of information, order taking, billing, and payment that support the core product or service. The other 4 enhancing supplementary services are consultation, hospitality, safe keeping, and exceptions handling that enhance the customer experience.
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The document summarizes key aspects of service design and waiting line analysis. It discusses the growing service economy and characteristics of services. The service design process involves defining a service concept and package. Tools for design include service blueprints and waiting line models. Waiting line models analyze factors like arrival rates, service times, and number of servers. Having multiple servers can reduce wait times compared to a single server.
Introduction To Marketing
Marketing involves planning and executing the conception, pricing, promotion, and distribution of goods and services. The goal is to understand customer needs and create value for both customers and businesses through the exchange of products and services. Effective marketing follows the marketing concept of being customer-centered and delivering superior customer value compared to competitors. A marketing plan lays out the target markets, value proposition, and tactics for achieving business objectives.
Characteristics of a service marketing
Services have five key characteristics: (1) lack of ownership, (2) intangibility, (3) inseparability of production and consumption, (4) perishability, and (5) heterogeneity. The marketing of services also involves analyzing the 7Ps of the marketing mix - product, price, place, promotion, people, physical evidence, and process. Managing services is more complicated than managing products because services are harder to standardize due to the many input factors involved, including people, physical environment, and operational processes.
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This document provides an overview of services marketing. It discusses four categories of services: people processing, possession processing, mental stimulus processing, and information processing. It also discusses the traditional marketing mix (product, price, place, promotion) applied to services, as well as the extended services marketing mix of physical evidence, process, and people. Key characteristics of services are discussed, including intangibility, inseparability, heterogeneity, and perishability. The document also covers consumer behavior models for services, including the three-stage model of service consumption and the servuction model. It defines factors that influence customers' expectations and perceptions of service quality. Finally, it discusses differentiated and undifferentiated marketing strategies and how they relate to market
Service Blueprinting
The document defines and explains the key elements of a service blueprint:
1) It captures the steps and sequences in a service process from the customer's perspective.
2) A service blueprint shows the service delivery process and specifies the physical evidence, staff actions, and support systems needed to deliver the service across different channels.
3) The key elements are customer actions, front stage actions visible to customers, back stage actions invisible to customers, and supporting processes.
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In this presentation, we will discuss the marketing procedure in the services, how to organize marketing planning and analyze marketing opportunities. We will also talk about the selection process of target market, developing the service marketing mix and managing marketing effort.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit:
http://www.welingkaronline.org/distance-learning/online-mba.html
Types of crm
There are four types of CRM: operational CRM, analytical CRM, collaborative CRM, and front office and back office CRM. Operational CRM differentiates customers based on economic value and expectations. Analytical CRM analyzes customer buying behavior. Collaborative CRM allows different departments to share customer information to improve customer service and satisfaction. Front office CRM manages customer touchpoints while back office CRM uses data and intelligence to gain customer knowledge.
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The document discusses service processes and how they can be categorized. It defines service process as the procedures and flow of activities that deliver a service. Service processes can be standardized like checking a bank account or more complex like those at a fast food restaurant. Processes also vary in terms of complexity, number of steps, variability between steps, level of employee discretion, and degree of customization. Based on factors like labor intensity and customization, services can be classified into four types - service factories, service shops, mass services, and professional services.
Difference between indusrial marketing & consumer marketing
Industrial and consumer marketing differ in their market structures, products, and buyer behaviors. Industrial markets have fewer geographically concentrated buyers engaging in oligopolistic competition, technically complex customized products purchased for business use, and professionally trained personnel making purchases based on functional task motives. Consumer markets have mass markets of geographically dispersed buyers engaging in monopolistic competition, standardized products for personal use, and purchases influenced by social and psychological motives of individuals and families.
Post Purchase Consumer Behaviour
1) After making a purchase, consumers may experience post-purchase dissonance or doubts about their decision. They will seek information to justify their choice and reduce these doubts.
2) Most purchases are followed by product use. How the product is used and disposed of is evaluated by the consumer. Satisfaction depends on whether expectations are met or exceeded by the product's performance.
3) Post-purchase actions include repeat purchases, brand switching, or discontinuing use, depending on the consumer's level of satisfaction. Marketers should monitor post-purchase behavior and satisfaction to improve products, marketing, and customer retention.
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Services Marketing - Service Encounter Failure & Recovery
Services Marketing - Service Encounter Failure & Recovery
Similar to Godds services continuum
godds-servicescontinuum-151010201328-lva1-app6891 (1).pptx
This document discusses companies' positioning on a goods-to-services continuum and movements along the continuum. It aims to provide an overview of company positions, introduce specific movements, suggest that service development can drive renewal, and examine the relationship between position and profit margins. The document introduces models of the continuum and discusses the differentiation between goods and services, including their characteristics and strategies.
Product levels classification product mix & pricing stratagies
Product Levels & Classification – Product Hierarchy – Product Systems & Mixes – Product Line Analysis – Product Line Length – Concept of Brand Equity & Branding Decisions. Pricing Views – Pricing Objectives – Pricing Methods – Adopting the Price – Initiating & Responding to Price Changes.
Chapter 11 the product and developing new products
This document discusses the seven phases of new product development: 1) New product strategy development, 2) Idea generation, 3) Product screening and evaluation, 4) Business analysis, 5) Product development, 6) Test marketing, and 7) Commercialization. It provides details on each phase, including generating ideas from marketing and research sources, evaluating ideas using checklists, concept testing with potential buyers, analyzing business factors like costs and market potential, developing prototypes, test marketing products, and commercial product launch. The overall process aims to efficiently develop new products that meet market needs and are viable business opportunities.
chap8.ppt
This document discusses product and service strategies in marketing. It defines what a product is and different levels and classifications of products for both consumers and industries. It also discusses branding strategies, packaging, labeling, and product support services. For services specifically, it outlines their key characteristics of intangibility, inseparability, variability and perishability. It emphasizes that internal service quality, satisfied employees and customers are crucial for service profits and growth. Managing service differentiation, quality and productivity are important marketing strategies for service firms.
chap8.ppt
This document discusses product and service strategies in marketing. It defines what a product is and different levels of a product from the core benefit to augmented levels. There are different types of consumer and industrial products classified by how often they are purchased and their uniqueness. Branding strategies are outlined including line extensions, brand extensions, and developing new brands. Other decisions discussed include packaging, labeling, product attributes, and support services. The key characteristics of services are also defined as being intangible, inseparable, variable and perishable. Effective marketing strategies for service firms focus on differentiation, quality, and productivity.
PRODUCT ppt
This document discusses product and service strategies in marketing. It defines what a product is and different levels and classifications of products for both consumers and industries. It also discusses branding strategies, packaging, labeling, and product support services. For services specifically, it outlines their key characteristics of intangibility, inseparability, variability and perishability. It emphasizes that internal service quality, satisfied employees and customers are crucial for service profits and growth. Managing service differentiation, quality and productivity are important marketing strategies for service firms.
What are the characteristics of products, and how do marketers classify products
This document discusses how marketers classify products. It outlines five levels of a product: the core benefit, basic product, expected product, augmented product, and potential product. Products are also classified based on their durability and tangibility as durable, non-durable, or services. Additionally, products can be classified as either consumer goods or industrial goods. Consumer goods are further broken down into convenience goods, shopping goods, specialty goods, and unsought goods based on customer shopping habits. Industrial goods are classified as capital items, materials and parts, or supplies and business services based on their use in production.
Mktg 4 product_brand_1
The document discusses different types of products and services. It defines a product as anything that can be offered in a market to satisfy a need or want, including goods, services, experiences, events, persons, ideas, places, organizations, and information. Products are classified as consumer products, industrial products, or services. Consumer products are further divided into convenience products, shopping products, specialty products, and unsought products. Industrial products include raw materials, capital items, and supplies. The document also discusses product mix, product lines, branding, levels of products, and individual product decisions.
The following table shows data from a fictional cohort study of in.docx
The following table shows data from a fictional cohort study of industrial workers followed over 30 years to see if exposure to industrial organic solvent affects cognitive function adversely. Use the information below for the following question.
Organic Solvent Exposure
Number of Participants
Impaired Function
Yes
28654
818
No
71346
649
Total
100000
1467
Calculate and interpret the risk of impaired function in participants exposed to organic solvents and those who were not.
1
COM5111
Product Policy
Week 5 SemB 2019-20
2
Learning Objectives
1. What are the characteristics of products, and how do marketers classify product?
2. How can companies differentiate products?
3. Why is product design important, and what are the different approaches taken?
4. How can a company build and manage its product mix and product lines?
5. How can marketers best manage luxury brands?
6. What environmental issues must marketers consider in their product strategies?
7. How can companies combine products to create strong co-brands or ingredient
brands?
8. How can companies use packaging, labeling, warranties, and guarantees as
marketing tools?
3
Components Of The Market Offering
Marketing planning begins with formulating an offering to meet target customers’ needs or wants
customer will judge the offering
on three basic elements
Slide 15 & 16 Slide 17
4
Product Characteristics
and Classifications
• Product
– Anything that can be offered to a market to satisfy a want or need,
including physical goods, services, experiences, events, persons,
places, properties, organizations, information, and ideas
https://www.youtube.com/watch?v=xYjoBAUOjTk
5
Characteristics of Winning Products
A unique superior product—
a differentiated product that delivers unique benefits and a
compelling value proposition to the customer or user—
is the number one driver of new-product profitability
Source: Robert G. Cooper, Winning at New Products: Creating Value through Innovation (New York: Basic Books, 2011), p. 32.
How about your individual assignment?
6
Unique and superior products tend to have the followings in
common
1. are superior to competitors’ products in terms of meeting users’ needs
2. solve a problem the customer has with a competitive product
3. feature good value for the money and excellent price and performance
characteristics
4. provide excellent product quality, according to customers’ way of defining quality
5. offer features easily perceived as useful by the customer
6. offer benefits that are highly visible to the customer
Source: Robert G. Cooper, Winning at New Products: Creating Value through Innovation (New York: Basic Books, 2011), p. 33.
7
Product Levels: The Customer-Value Hierarchy
• The Five Product Levels
The service or benefit
the customer
is really buying
e.g. rest & sleep
The marketer must
turn the core benefit
into a basic product
e.g. bed, bathroom …
A set of attributes
and c.
The following table shows data from a fictional cohort study of in.docx
The following table shows data from a fictional cohort study of industrial workers followed over 30 years to see if exposure to industrial organic solvent affects cognitive function adversely. Use the information below for the following question.
Organic Solvent Exposure
Number of Participants
Impaired Function
Yes
28654
818
No
71346
649
Total
100000
1467
Calculate and interpret the risk of impaired function in participants exposed to organic solvents and those who were not.
1
COM5111
Product Policy
Week 5 SemB 2019-20
2
Learning Objectives
1. What are the characteristics of products, and how do marketers classify product?
2. How can companies differentiate products?
3. Why is product design important, and what are the different approaches taken?
4. How can a company build and manage its product mix and product lines?
5. How can marketers best manage luxury brands?
6. What environmental issues must marketers consider in their product strategies?
7. How can companies combine products to create strong co-brands or ingredient
brands?
8. How can companies use packaging, labeling, warranties, and guarantees as
marketing tools?
3
Components Of The Market Offering
Marketing planning begins with formulating an offering to meet target customers’ needs or wants
customer will judge the offering
on three basic elements
Slide 15 & 16 Slide 17
4
Product Characteristics
and Classifications
• Product
– Anything that can be offered to a market to satisfy a want or need,
including physical goods, services, experiences, events, persons,
places, properties, organizations, information, and ideas
https://www.youtube.com/watch?v=xYjoBAUOjTk
5
Characteristics of Winning Products
A unique superior product—
a differentiated product that delivers unique benefits and a
compelling value proposition to the customer or user—
is the number one driver of new-product profitability
Source: Robert G. Cooper, Winning at New Products: Creating Value through Innovation (New York: Basic Books, 2011), p. 32.
How about your individual assignment?
6
Unique and superior products tend to have the followings in
common
1. are superior to competitors’ products in terms of meeting users’ needs
2. solve a problem the customer has with a competitive product
3. feature good value for the money and excellent price and performance
characteristics
4. provide excellent product quality, according to customers’ way of defining quality
5. offer features easily perceived as useful by the customer
6. offer benefits that are highly visible to the customer
Source: Robert G. Cooper, Winning at New Products: Creating Value through Innovation (New York: Basic Books, 2011), p. 33.
7
Product Levels: The Customer-Value Hierarchy
• The Five Product Levels
The service or benefit
the customer
is really buying
e.g. rest & sleep
The marketer must
turn the core benefit
into a basic product
e.g. bed, bathroom …
A set of attributes
and c.
Chapter 08
This document provides an overview of key concepts related to product, services, and branding strategy. It defines what constitutes a product and service, discusses different classifications of products and services, and outlines decisions companies must make regarding individual products, product lines, product mixes, and branding. The summary focuses on the essential topics covered, which include defining products and services, classifying consumer and industrial products, and explaining how branding builds strong brands through developing brand equity and competitive advantage.
Chapter 4 product
This document discusses products, services, and branding strategies. It defines key terms like products, consumer products, business/industrial products, and services. It classifies consumer products as convenience goods, shopping goods, specialty goods, and unsought goods. Business products are classified as raw materials, manufactured parts, installations, accessory equipment, and operating supplies. The document also discusses the core product, actual product, and augmented product. It outlines characteristics of services like intangibility, inseparability, variability, and perishability. Finally, it discusses elements of the marketing mix for services, including people, process, physical evidence, and branding strategies.
Product and brand management notes
This notes is for the students of MBA or BBA, it explains the concepts of product and brand management in detail but with simple presentation
Chapter #8.ppt
This document provides an overview of Chapter 8 from a marketing textbook. It discusses key topics around products, services, and brands, including definitions of products and different types of products. It also covers branding strategy, brand positioning, and selecting brand names. Additionally, it summarizes services marketing and strategies specific to marketing services, such as the service-profit chain and internal marketing. The document is intended to outline the chapter's content at a high level.
Products, Services, and Brands Building Customer Value.ppt
This document provides an overview of key concepts from Chapter 8 of a marketing textbook. It discusses products, services, and brands. Specifically, it defines what a product is, different types of consumer and industrial products, and how organizations, persons, places and ideas can also be marketed. It then covers product and service decisions like attributes, quality, features, packaging and branding. It concludes with a discussion of branding strategy, different types of brands, and unique marketing strategies for service firms.
Products, Services, and Brands Building Customer Value
This document summarizes key points from Chapter 8 about products, services, and branding. It discusses what defines a product, different types of consumer and industrial products, and how products are classified. It also covers product attributes, decisions around quality, features, style, branding, packaging and product lines. Additionally, it discusses branding strategy, building strong brands, and strategies for marketing services, including the service-profit chain and importance of internal marketing for service firms.
Marketing Chapter no 8
This document summarizes key topics from Chapter 8 about products, services, and brands. It discusses what constitutes a product, different types of consumer and industrial products, and classifications of products and services. It also covers branding strategy, the importance of building strong brands, and considerations for brand name selection and sponsorship. Additionally, it outlines unique marketing strategies for service firms, including the service-profit chain and importance of internal marketing, interactive marketing, and managing service differentiation, quality, and productivity.
08 [compatibility mode]
This document provides an overview of key concepts from Chapter 8 regarding products, services, and branding strategies for building customer value. It discusses what constitutes a product versus a service and how they are classified. It also outlines different types of product decisions companies must make, including individual product decisions, product line decisions, and product mix decisions. Additionally, it covers branding strategies for developing and positioning strong brands, as well as specific marketing strategies that are important for service firms to consider.
Dasrat goswami
This document provides an outline for Chapter 8 which discusses product, services, and brands. The chapter covers definitions of products and services, classifications of consumer and industrial products, branding strategy including brand positioning and name selection, and the nature of services. It introduces topics like product attributes, packaging, product lines, and brand development strategies. The overall focus is on how organizations build customer value through their product, service, and branding decisions.
Similar to Godds services continuum (20)
godds-servicescontinuum-151010201328-lva1-app6891 (1).pptx
godds-servicescontinuum-151010201328-lva1-app6891 (1).pptx
Product levels classification product mix & pricing stratagies
Product levels classification product mix & pricing stratagies
Chapter 11 the product and developing new products
Chapter 11 the product and developing new products
What are the characteristics of products, and how do marketers classify products
What are the characteristics of products, and how do marketers classify products
The following table shows data from a fictional cohort study of in.docx
The following table shows data from a fictional cohort study of in.docx
The following table shows data from a fictional cohort study of in.docx
The following table shows data from a fictional cohort study of in.docx
Products, Services, and Brands Building Customer Value.ppt
Products, Services, and Brands Building Customer Value.ppt
Products, Services, and Brands Building Customer Value
Products, Services, and Brands Building Customer Value
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Anilmal drug
Malaria is caused by Plasmodium parasites transmitted via mosquito bites. There are four main species that cause malaria in humans. The document discusses 11 classes of antimalarial drugs, including 4-aminoquinolines like chloroquine, 8-aminoquinoline primaquine, amino alcohols like halofantrine, and sesquiterpine lactones such as artemisinin derivatives. Many of these drugs work by inhibiting enzymes or generating reactive oxygen species to kill the malaria parasites. Resistance is an ongoing issue requiring new antimalarial treatments.
Anticancer
Cancer remains a leading cause of death worldwide, despite recent advances in treatment. Researchers are working to develop more effective and targeted drugs with fewer side effects. Promising new immunotherapies and combination therapies show potential for improving outcomes, but more clinical testing is still needed.
Corruption PPT
This document discusses corruption, defining it as wrongdoing by those in power through illegitimate or unethical means, often involving bribery. It identifies two main types of corruption - petty corruption by low-level officials and state corruption involving abuse of power by government officials. The document also examines the role of globalization and media in corruption and looks at what governments and agencies can do to be more effective in combating corruption, such as ensuring independence and joining international anti-corruption efforts. It concludes by noting the negative impacts of corruption on development, justice, and democracy.
Features & realities of rural communication
The document discusses rural areas, communities, and development. It defines rural areas as places engaged in primary industries and away from large cities. Rural communities have lower population density and agriculture as the main occupation. Features include villages as primary institutions, a sense of community, and religion's importance. Rural development aims to improve economic and social life through collective efforts and bringing progressive change. It discusses objectives, problems, and the importance of rural development in improving living standards, infrastructure, education, and more.
Goods & service tax
The document discusses India's transition to a Goods and Services Tax (GST) system. It outlines the various taxes currently levied at the state and central levels, and how GST aims to simplify taxation by implementing a single, indirect tax on goods and services. The GST Council was established to make recommendations on tax rates, exemptions, and model GST laws. Key decisions include a 4-tier tax rate structure of 5%, 12%, 18%, and 28%, along with some exempted items and a cess on luxury goods. The GST is expected to benefit trade, industry and consumers by reducing costs and prices through removal of cascading taxes and a more unified market.
Utility
This document defines and explains the economic concept of utility. It begins by defining utility as the ability of a commodity to satisfy human needs. It then discusses how different commodities provide different levels of utility to different people in different situations. It also explains that marginal utility decreases with increasing consumption of a good while total utility increases at a decreasing rate. The document provides examples and formulas to illustrate these concepts. It concludes by discussing the determinants and assumptions of demand and how the law of demand states that demand curves will slope downward, showing an inverse relationship between price and quantity demanded.
Indiffrence analist
Indifference analysis uses indifference curves to represent a consumer's preferences between combinations of goods without using utility. Indifference curves show combinations of two goods that make a consumer equally satisfied. They are generally downward sloping as less of one good requires more of another to maintain the same level of satisfaction. The slope of indifference curves depends on preferences and diminishing marginal utility. Indifference maps show full sets of non-crossing indifference curves, with higher curves preferred. A budget constraint shows affordable combinations given income. Consumer equilibrium is reached where the highest attainable indifference curve is tangent to the budget constraint.
Rural development
Rural development aims to improve the economic and social lives of rural communities through collective efforts between rural people and government authorities. It is a process of change that enables rural communities to fully contribute to national programs and improve their conditions. Rural development faces challenges including poor infrastructure, understanding diverse rural consumer mindsets, high promotion costs due to distance and dispersion, and lack of competence among urban-based marketing staff.
Secondary market final
The secondary market refers to the market where existing securities are traded between investors, after being initially offered in the primary market. Majority of trading occurs in the secondary market, which includes equity and debt markets. To trade in the secondary market, investors require a trading account, demat account, and PAN. Trading happens through stock brokers on recognized stock exchanges, either online or through phone/email. Trades are settled on a T+2 rolling basis, with payments and deliveries of shares occurring within 2 days of the trade date. The document outlines the process and participants involved in secondary market trading.
IRLL
The document discusses the history and evolution of industrial relations and labor laws. It covers:
- The emergence of industrial relations with the Industrial Revolution in Europe in the late 18th century and its spread globally.
- The emergence of two distinct classes - capitalists and working class - with the rise of the factory system. Initial exploitation of workers through poor conditions and child labor.
- The evolution of industrial relations in India through four phases from ancient times to post-independence, including the establishment of the first unions and passage of early labor laws.
- The tripartite nature of industrial relations involving labor, management, and the government. Key components and objectives of industrial relations.
T&d
The document compares training and development. Training aims to improve current job performance through imparting technical skills, while development focuses on acquiring skills for future roles through broad, managerial training. Examples of each are provided. The importance, purpose, process, methods, benefits and types of training and development are also outlined.
Humanvalues professional ethics
This document discusses the need for and process of value education. It begins by explaining that value education is needed to understand what is truly valuable for human happiness and fulfillment. It then outlines some basic guidelines for value education, noting it should be universal, rational, natural, and aim to transform consciousness. The document also describes the process of value education as one of self-exploration rather than instruction, and explains it involves dialogue between one's current self and desired self through self-knowledge and understanding relations with others. Finally, it distinguishes between human values like love, peace, truth, non-violence and right conduct, and moral values regarding right and wrong.
Tna
TNA is a systematic method to determine if training can address performance gaps by analyzing the organization, jobs, and employees. It examines the organization's environment, strategies, goals, and performance data to identify where training is most needed. Job analysis determines the required competencies and content of training programs. Person analysis identifies which employees require training. Conducting a TNA is important when communicating a new vision, addressing legal concerns, or building team skills.
Globalisation
The document discusses several key elements of globalization:
1) It defines globalization as the world moving toward an interdependent global economic system through the globalization of markets and production. This has integrated historically separate national markets and allowed companies to source globally.
2) Important global institutions like the WTO, IMF, and World Bank have emerged to help manage and regulate the global marketplace.
3) Technological advances in areas like transportation and communication have reduced costs and enabled the dispersion and management of globally integrated production systems.
4) There is a debate around the impacts of globalization, with supporters arguing it increases growth and living standards, while critics argue it can negatively impact jobs, the environment, and national sovereignty.
Compa adva1
This document summarizes the theory of comparative advantage in international trade. It provides an example where Germany and France each produce wine and cheese. While France has an absolute advantage in both goods, Germany has a comparative advantage in wine due to lower opportunity costs of production. Specialization and trade allows both countries to increase total production. They agree on terms of trade and both benefit with increased consumption of both goods.
Chapter 1.2
The document discusses the basics of journalizing transactions in accounting, including the meaning and purpose of accounts, rules of debit and credit, types of accounts, and the steps in recording transactions in journals. It explains how to classify transactions as assets, liabilities, equity, revenues, or expenses and properly debit or credit accounts based on increases or decreases. The stages of the accounting cycle are also outlined, from recording transactions in journals to preparing financial statements and analyzing ratios.
Chapter 1.1
This document provides an introduction to accounting. It defines accounting as the process of recording, classifying, and summarizing financial transactions and interpreting the results. Accounting involves recording transactions, classifying them, and summarizing data in financial statements like the income statement and balance sheet. It communicates key financial information to stakeholders like managers, investors, and creditors.
Accounting standards
Standards are created through collaboration to provide consistent guidelines for financial reporting. Accounting standards aim to harmonize practices to provide reliable and comparable information to users. International standards issued by the IASB are called IFRS, which began replacing IAS in 2001. In India, the ASB formulates Indian Accounting Standards (Ind AS) that converge with IFRS while considering domestic economic and legal factors. Large Indian companies will adopt Ind AS for financial periods starting April 1, 2011 to facilitate international comparison.
Chapter 1.3
This document provides an overview of journalizing transactions in accounting. It defines key accounting concepts like debits and credits, and the different types of accounts - assets, liabilities, equity, revenues and expenses. It explains the rules for debiting and crediting different accounts, and classifies accounts as personal, real or nominal. The stages of the accounting cycle and journal entries are described. The journal is the book of original entry where transactions are recorded in chronological order with debit and credit columns. Examples are provided to illustrate journalizing cash and credit transactions.
Inferential statistics
The document discusses inferential statistics and its applications. It defines statistics as dealing with collecting, classifying, presenting, comparing, and interpreting numerical data to make inferences about a population. Inferential statistics help decision makers present information, draw conclusions from samples, seek relationships between variables, and make reliable forecasts. The document also distinguishes between descriptive statistics, parametric inferential statistics that assume normal distributions, and non-parametric inferential statistics that make no distribution assumptions.
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In this respectful and life-affirming service—erm, session—join Ryan Brock (Chief Solution Officer at DemandJump and author of Pillar-Based Marketing: A Data-Driven Methodology for SEO and Content that Actually Works) and leave with:
• Clear and compelling evidence that most legacy SEO metrics and tactics have slim to no impact on SEO outcomes
• A major mindset shift that eliminates most of the metrics and tactics associated with SEO in favor of a single metric that defines and drives organic ranking success
• Practical, step-by-step methodology for choosing SEO pillar topics and publishing content quickly that ranks fastGrowth Marketing in 2024 - Randy Rayess, Outgrow
Growth Marketing in 2024 - Randy Rayess, OutgrowDigiMarCon - Digital Marketing, Media and Advertising Conferences & Exhibitions
Build marketing products across the customer journey to grow your business and build a relationship with your customer. For example you can build graders, calculators, quizzes, recommendations, chatbots or AR apps. Things like Hubspot's free marketing grader, Moz's site analyzer, VenturePact's mobile app cost calculator, new york times's dialect quiz, Ikea's AR app, L'Oreal's AR app and Nike's fitness apps. All of these examples are free tools that help drive engagement with your brand, build an audience and generate leads for your core business by adding value to a customer during a micro-moment.
Key Takeaways:
Learn how to use specific GPTs to help you Learn how to build your own marketing tools
Generate marketing ideas for your business How to think through and use AI in marketing
How AI changes the marketing gameMastering The Best Restaurant Advertising Campaigns Detailed Guide
A guide for making the Best Restaurant Advertising Campaigns with demographics, data analytics, and digital advertising for measurable results.
Digital Marketing Trends - Experts Insights on How to Gain a Competitive Edge...
Digital Marketing Trends - Experts Insights on How to Gain a Competitive Edge...DigiMarCon - Digital Marketing, Media and Advertising Conferences & Exhibitions
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.Recently uploaded (20)
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Global Growth Starts With Translation - How To Unlock Global Markets - Tim Kirby
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Digital Marketing Trends - Experts Insights on How to Gain a Competitive Edge...
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No Cookies, No Problem - Steve Krull, Be Found Online
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Etsy Marketing Guide - Tips For Selling Digital Products
Etsy Marketing Guide - Tips For Selling Digital Products
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Mastering The Best Restaurant Advertising Campaigns Detailed Guide
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Digital Marketing Trends - Experts Insights on How to Gain a Competitive Edge...
Godds services continuum
- 1. Irwin/McGraw-Hill & Dr. Chen8-1 Product and Service Continuum
- 2. Irwin/McGraw-Hill & Dr. Chen8-2 The Good/Services Continuum Target Market Promotion PricePlaceProduct Product idea Brand Package Warranty None, limited full, extendedPhysical good/services Features Benefits Quality level Accessories Installation Instruction Product line Type of Brand: Individual or family Manufacturer or dealer Protection Promotion Enhancement
- 3. Irwin/McGraw-Hill & Dr. Chen8-3 What Is a Product? Product: An idea, a physical entity (a good), a service, or any combination of the three that is an element of exchange to satisfy individual or business objectives .
- 4. Irwin/McGraw-Hill & Dr. Chen8-4 Types of Products Goods: Physical products with form and substance Services: Non-physical products usually involving performance Consumer Products: Those used by consumers for their own use and satisfaction. Business Products: Those used in the running of a business or in the manufacture of products for resale.
- 5. Irwin/McGraw-Hill & Dr. Chen8-5 The Good/Services Continuum Paper Truck Production equipment Auto repair Uniform rental Restaurant Healthcare Haircut Accounting Goods Goods (Intangible, Perishable, Inseparable, and Variable in quality) (Tangible, Storable, Separable, and Standardized in quality)
- 6. Irwin/McGraw-Hill & Dr. Chen8-6 Canned foods Ready- made clothes Auto- mobiles Carpets Rest- aurant meals Repairs: auto, house, Air travel Insurance, Consulting, Teaching MOSTLY GOODS MOSTLY SERVICES The Good/Services Continuum
- 7. Irwin/McGraw-Hill & Dr. Chen8-7 Product Differentiation Product Differentiation: Exists when a firm’s offerings differ or are perceived to differ from those of competing firms on any attribute, including price.
- 8. Irwin/McGraw-Hill & Dr. Chen8-8 Goods and Services Goods: Physical products. Services: Nonphysical products.
- 9. Irwin/McGraw-Hill & Dr. Chen8-9 © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin—for use only with Basic Marketing Differences in Goods and Services Where produced (storing and transporting) Tangibility When produced relative to when consumed Balancing supply and demand Contact with customer by producer of product Differences
- 10. Irwin/McGraw-Hill & Dr. Chen8-10 Characteristics and Strategies for Services Service Characteristic Service Strategy Intangible Associate service with something tangible Perishable Manage demand to utilize supply Inseparable Capitalize advantages of person providing service Variable Standardize service delivery as much as possible
- 11. Irwin/McGraw-Hill & Dr. Chen8-11 Product Classes • Two broad classes – consumer products – business products • Classes help in planning marketing mix needed • Based on how the customer views the product – how consumers think about and shop for products – how business/organizational buyers think about products and how they'll be used
- 12. Irwin/McGraw-Hill & Dr. Chen8-12 Consumer and Business Products Consumer Products: Products that are purchased by consumers for their own personal use. Business Products: Products purchased by a firm or organization for its own use.
- 13. Irwin/McGraw-Hill & Dr. Chen8-13 Types of Consumer Products Convenience Products Shopping Products Specialty Products
- 14. Irwin/McGraw-Hill & Dr. Chen8-14 Types of Business Products Capital Products Production Products Operational Products
- 15. Irwin/McGraw-Hill & Dr. Chen8-15 Business Product Classes
- 16. Irwin/McGraw-Hill & Dr. Chen8-16 Product Components Product Components Product Features • Quality • Design • Branding • Packaging Service Features • Purchase services • Usage services