MKTG 3101 Final Guaranteed Success
Product ️Bundle of physical, service, and symbolic attributes designed to satisfy a customer's needs
Services ️Intangible tasks that satisfy the needs of consumers and business users
Goods/Objects ️Tangible products that customers can see, hear, smell,...
MKTG 3101 Final Guaranteed Success
Product ✔️Bundle of physical, service, and symbolic attributes designed to satisfy a customer's needs
Services ✔️Intangible tasks that satisfy the needs of consumers and business users
Goods/Objects ✔️Tangible products that customers can see, hear, smell, taste, or touch
Goods-services continuum ✔️Spectrum along which goods and services fall according to their
attributes
Single Products ✔️Product Decisions: Attributes, branding, labeling, packaging, etc.
Product Lines ✔️Products that are sold to the same target groups
Product mix/portfolio ✔️The set of all product lines that a seller offers
Characteristics of Services ✔️Intangibility, Variability, Inseparability, Perishability
Intangibility ✔️Services cannot be seen, tasted, felt, heard, or smelled before purchase
Variability ✔️Quality of services depends on who provides them and when, where, and how
Inseparability ✔️Services cannot be separated from their providers
Perishability ✔️Services cannot be stored for later sale or use
, Internal Marketing ✔️Service Marketing Strategies: Market services between the company and their
employees; Employers spend lots of time/money to train employees on how to properly/interact with
and assistant customers
External Marketing ✔️Service Marketing Strategies: Market services between the company and the
customers
Interactive Marketing ✔️Service Marketing Strategies: Market services between the employees and the
customers; employers need to sell product to employees and get them on board/excited so employees
can then sell the product to customers
Levels of Products ✔️Core Value, Actual Product, Augmented Product; Each level adds more customer
value
Core Value ✔️Lowest Level of Product and Customer Value: Determined by the target groups of the
product
Actual Product ✔️Middle Level of Product and Customer Value: From quality to brand equity; Includes
brand name, quality level, packaging, design, and features
Augmented Product ✔️Highest Level of Product and Customer Value: The level at which close
contenders compete most; Includes delivery and credit, product support, warranty, after-sale service
Brand Equity ✔️A set of assets: Awareness, perceived quality, loyalty, associations; These assets
add/subtract value to the product that are linked to the brand name, logo and symbol; It is how people
talk about your brand when you're not in the room
Good Brand ✔️Quality information, differentiation bias, emotion, memory aid
Brand Development Strategies ✔️Product Category Vs. Brand Name Table; Existing or New
Line Extension ✔️Brand Development Strategy: Existing Brand Name and Existing Product Category
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