marketingch6.txt

An action that provides a buyer with an intangible benefit. (Ex. a haircut)

Products and services designed to deliver value to customers to fulfill needs/satisfy wants

A characteristic of an offering.

A feature that satisfies a want or need.

The amount of money paid to own, use and dispose of a product.

When the experience/service is the only thing the customer walks away with.

The best way to capture the market share to create and manufacture better products at lower prices

• Integrates product, price and service dimensions of an offering.
• Service is required to acquire, enjoy and dispose of a product.
• Focus on what customers want.

• 1. intangibility
• 2. perishability
• 3. variability
• 4. inseparability

find a way to give consumer something to walk away with after service (Ex: checklist or evaluation) **tangibilize the intangible

service or opportunity for profit can expire (Ex: empty hotel rooms or plane seats = lost profit) **control demand through price

• quality of service varies betwen competitors **quality control KEY challenge
• (Ex: 1. training
• 2. processes - defined order in which things are done, systemizing/standardizing
• 3. measure & evaluate - system to ensure & judge efficiency )

• increase productivity by adding personnel
• **increase productivity or the core person delivering the service
• (Ex: nurses & assistants, technology)

Group of related offerings

how many offerings there are in a single product line

new but similar products added to product line

function of how many different/distinct product lines a company has

entire assortment of products a firm offers

Core technology on which product is built. Defines the features. Not limited to tangible products.

• 1. Convenience Offerings
• 2. Shopping Offerings
• 3. Specialty Offerings
• 4. Unsought Offerings

• -don't put much effort into shopping
• - small difference between brands
• ex. bread
• (impulse offerings: items purchased w/o planning)

• - make effort to compare and select brand
• - more expensive
• - research & read reviews

• - highly differentiated offerings
• - brands diffrent across companies
• - purchased less frequently than convenience offerings
• - build brand recognition and educate consumers about products key differences
• - luxury goods, exclusive distribution

• - consumers shop for product only when needed
• - ex. tow truck, funeral service

• 1. Capital equipment
• 2. Raw materials
• 3. Original equipment manufacturer (OEM)
• 4. Maintenance, repair and operating (MRO)
• 5. Facilitating

equipment purchased and used for more than one year

materials offered by firms so that other firms can make a product or provide a service

raw materials, manufactured materials and component parts used to make a final product

Janitorial supplies or hardware used to repair equipment

P & S that support company's operations but aren't part of the final products it sells such as supplies

set of activities designed to create a brand and position it in the minds of consumers

spoken part of brand's identity

symbol associated with brand

occurs when a firm's new offerings eats into sales of older offerings, comes from brand extension

• 1. protects products from damage, contamination, leakage, and tampering
• 2. used to communicate brand's benefits, product warnings and proper use

holds single retail unit of a product

holds single wholesale unit of a product

packaging designed especially for shipping and efficiently handling large quantities

person responsible for all business positions regarding one brand

someone with business responsibility for particular product or product line

business responsibility for decisions withing broad grouping of offerings

responsible for business decisions within a market