BU2108 Lecture 8: Lecture 8 - Creating and Managing Products
Document Summary
3 levels of a product to a product example. The value created through branding for the customer and firm. Major functions of packaging and labelling and related sustainable issues. Adoption stages and how marketing can assist the process. Product life cycle stages (plc) and how the concept helps to guide the development and management of marketing strategies. Is there anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want ot need. Is a good, service, an idea, an event, an activity, a person, a cause or experience received in an exchange process. Tangible (see, touch, smell, hear, taste) (a good) or intangible (a service or an idea) or a combination of both. Comprised of functional, social and psychological utilities or benefits supporting services such as installation, guarantees, warranty, product information and r&m (repairs and maintenance) Products consist of many elements that provide buyers with value:
