BUS 346 Chapter Notes - Chapter 11: Brand Licensing, Brand Equity, Costco
Document Summary
Lo 1: describe the components of a product. A product is anything that is of value to a consumer and can be offered through a. Includes goods, places (ie theme park), ideas (stop smoking), organizations, voluntary marketing exchange people (oprah), or communities (facebook) since they create value for consumers. At the center is the core customer value, which defines the basic problem- Marketers convert core customer value into an actual product, which includes solving benefits that consumers are seeking the physical attributes of a product including the brand name, features/design quality level, and packaging. The associated services in the picture also referred to as the augmented product are the nonphysical attributes of the product including product warranties, financing, product support, and after-sale service. Lo 2: identify the types of consumer products. Type of product affects how marketers will promote, price, and distribute their. There are 2 types of products and services that reflect who buys them.
