MANA 298 Lecture Notes - Lecture 6: Designer Label, Travel Insurance, Toothpaste
Document Summary
Anything tangible or intangible that can be exchanged in a market (goods, services, ideas) for money or some other unit of value . Goods like sugar iron are tangible insurance whereas services consultancy are intangible. like. Intangibility major component of a service is intangible (cannot be touched or seen). Perishability many cannot be stored for future sales, Inseparability customer contact is often the integral part of the service. Variability in service quality, lack of when services are consistency, produced by people. Product line: a group of closely related product items viewed as a unit because of marketing, technically or end use considerations eg upmarket or downmarket. Product mix: a set of all products and items that a particular seller offers for sale. How many variants are offered of each product line eg crest with 3 sizes and 2 flavours, then product depth is 6.
