Summary
Summary (Chpt.8) Products, Services, and Brands
- Course
- Institution
- Book
(Chpt.8) Products, Services, and Brands
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
More summaries for
-
Marketing summary Principles of Marketing 18th edition
-
Marketing Management summary of the entire course
-
Summary: Principles of Marketing 18e Global Edition - Marketing (MAN-BCU2008)
Seller
Follow
ProfBurgerQueen
Content preview
Principles of Marketing by ProfessorBurgerQueenProducts, Services, and Brands
Building Customer Value
- A product is anything that can be offered in a market for attention, acquisition, use, or
consumption, that might satisfy a need or want
- A service is a product that consists of activities, benefits, or satisfactions and that is
essentially intangible and does not result in the ownership of anything
- The primary goal of any company selling products is sales volume, while entities
offering services aim for excellence in customer satisfaction and are more focused on
building relationships with clients to ensure repeat business
Levels of Product
- Core customer value
- Actual product (brand name, features, quality, design)
- Augmented product (product support, warranty, delivery and credit)
Product Classifications
- Consumer products
- Industrial products
● Consumer products are bought by final consumers for personal consumption
- Convenience products
- Shopping products
- Specialty products
- Unsought products
- Convenience products are products and services that the customer usually buys
frequently, immediately, and with minimum comparison and buying effort eg. milk,
eggs, candy, fast food
- Shopping products are less frequently purchased products and services that the
customer compares carefully on suitability, quality, price, and style eg. furniture, cars,
appliances
- Specialty products are those with unique characteristics or brand identity for which a
significant group of buyers is willing to make a special effort eg. medical services,
designer clothes, high-end electronics
- Unsought products are those the consumer does not know about or know about, but
does not normally think of buying eg. life insurance, funeral services
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ProfBurgerQueen. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $3.38. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
52928 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now