MRKT 483 Lecture Notes - Lecture 11: Marketing Mix, Intangibility, Prosumer
Document Summary
Modification in the marketing plan: need for modification due to international influences and differences, including, environmental differences, interactions, b2b relations and intermediaries, changing nature of products and services, characteristics of services: Intangibility, perishability, heterogeneity, inseparability and ownership: need for introducing more than 3 p"s, including person (people), physical evidence (surrounding) and process (7 p"s, levitt"s (1983) observation, globalization and standardization: Environmental factors influencing the balance between standardization and adaptation. Examples of standardization and adaptation of the international marketing mix. Intangibility: services cannot be touched or tested: perishability: services cannot be stored, heterogeneity: services are rarely the same due to service-people interactions (low uniformity) Inseparability: the near simultaneity of production and consumption (and ownership) make services inseparable: these characteristics of service separate them from those of goods and give rise to service dominant logic (s-d logic) Examining only three product characteristics for global expansion strategies (two country.
