Regression analysis: Simple Linear Regression Multiple Linear Regression
product.pptx
1. Marketing Mix
Product
**also includes services
The total product offering
(including user experience)
● Features
● Benefits
● Brand strength, influence
● Reputation
● Warranty
● Customer support
Product
Price
Promotion
Place
Target
Market
3. 12-3
What is a Product?
A product is 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.
5. Five Product Levels
• Core benefit —service or benefit (e.g., hotel
guest is buying “rest and sleep”)
• Basic product —turn core benefit into basic
product (e.g., hotel room includes a bed,
bathroom, towels, desk, dresser, and closet)
• Expected product – set of attributes and
conditions buyers normally expect (e.g., clean
bed, fresh towels, working lamps)
• Augmented product—exceeds customer
expectations (e.g., free health spa)
• Potential product—all the possible
augmentations and transformations (e.g., free
internet connections and use)
6.
7. An automobile offers personal
transportation (core product), has
many different features and
attributes (actual product), and may
include a manufacturer's warranty or
dealer's discounted service contract
(augmented product).
8. Product Differentiation
• Product form—size, shape, or physical structure
• Features—supplement basic functions
• Customization–individual versus mass
• Performance—level at which the product’s
primary characteristics operate
• Conformance—degree to which all the produced
units are identical and meet the promised
specifications
• Durability—product’s operating life
• Reliability—probability that a product will not
malfunction or fail
• Repairability—the ease of fixing a product when
it malfunction or fails
• Style—product’s look and feel to the buyer.
9. Service Differentiation
• Ordering ease—how easy to place an order
• Delivery—how well (e.g., speed, accuracy, and care)
product or service is brought to the customer
• Installation—work done to make a product
operational
• Customer training—training the customer’s
employees to operate the vendor’s equipment
properly and efficiently
• Customer consulting—data, information, systems,
and advice that the seller offers to buyers
• Maintenance and repair—service programs for
helping customers keep purchased products in good
working order
• Returns
13. "Engineered like no other car in the world"
Mercedes buyers value safety, high performance, and prestige.
Consumers might visualize a Mercedes as being a wealthy,
middle-aged business executive.
14. 12-14
What is the Fifth P?
Packaging, sometimes called the
5th P, is all the activities of
designing and producing
the container for a product.
15. 12-15
Factors Contributing to the
Emphasis on Packaging
Self-service
Consumer affluence
Company/brand image
Innovation opportunity
16. Packaging Objectives
• Identify the brand
• Convey descriptive and persuasive
information
• Facilitate product transportation and
protection
• Assist at-home storage
• Aid product consumption
23. How Will Your Business
Position Your Products
•Prestigious –
–luxury seats vs bleacher seats
•Better Bargain –
–season tickets vs single game
tickets
•Equal in Quality
– concessions, giveaways, merchandise
