BUSI 1800 Lecture Notes - Lecture 6: Telemarketing, Small Business, Marketing Buzz
6 Mar 2014
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Document Summary
Chapter 13 developing and promoting goods and services. Product is something consumers purchase for a function and benefit. Product features includes both tangibles and intangibles such as image and reputation. Value package = a bundle of value-adding attributes including reasonable cost. Value proposition = promise of value to be given on the seller"s side and the buyers belief that it will in fact be delivered. Convenience: goods bought frequently and with little thought, services consumer rapidly and regularly. Shopping: purchased infrequently; typically of moderate cost, consumers shop around for price, value and brand. Specialty: purchased rarely; typically expensive and/or worth important implications, consumers take time to locate the exact item desired. Opex items: consumed quickly and/or regularly in the course of business production. Capex items: expensive, long-lasting (durable) goods, equipment and services. Product mix: the group of products a company sells. Product line: a group of similar (synergistic) products intended for a similar group of buyers.
