Chapter 8 - Developing and Managing Products and Services (Pg. 288-293)
What is a Product?
Product: Anything that can be offered to a market for attention, acquisition, use, or consumption that
might satisfy a want or need.
• Includes services, events, persons, places, organizations, ideas, or mixes of these. (Ex. Trip to
Services: An activity, benefit, or satisfaction offered for sale that is essentially intangible and does not
result in the ownership of anything.
Marketing Mix begins with building an offering that brings value to customers. This offering is the basis
upon which the company builds profitable customer relationships.
• Pure Tangible Goods (Ex. Soap, toothpaste, salt)
• Pure Services (Ex. Dentist appointment, Air Canada flight)
• To differentiate their offerings, companies are creating/managing customer experiences with
o Contests to enhance customer experiences with product, enhance brand image.
o Customers buy what the offers will do for them.
1. Organization Marketing: Activities undertaken to create, maintain, or change the
attitudes/behaviours of target consumers toward an organization. (Both profit and non-profit take
o Corporate Image Advertising (campaigns): Businesses market themselves and polish their
images with these campaigns.
2. Person Marketing: Activities undertaken to create, maintain, or change attitudes/behaviour
toward particular people.
o (Ex. Politicians, lawyers, real-estate agents, architects).
3. Place Marketing: Activities undertaken to create, maintain, or change attitudes/behaviour toward
particular places. (Ex. Cities/countries compete to attract tourists.
Ideas can also be marketed, 'all marketing is the marketing of an