BUS 343 Lecture Notes - Lecture 7: Intangibility, Customer Retention, Technology Adoption Life Cycle

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Service: activity, benefit for sale, intangible, not result ownership. Organizations, person, places, ideas marketing: maintain, change attitudes, behaviour of customers + public toward them. Actual product: brand name, quality, package, design, feature. Augment product: delivery and credit, support, warranty, after sale service (connectivity, iphone, iphone + plan data) Materials and parts raw materials: farm products (wheat, cotton, livestock, fruits, vegetables) and natural products (fish, lumber, crude petroleum, iron ore) Manufactured materials and parts: component materials (iron, yarn, cement, wires) + component parts (small motors, tires, castings) Sold directly, price + service = important, brand + ad = less important. Installations: buildings (factories, offices) + fixed equipment (generators, drill presses, large computer systems, elevators) Accessory equipment: portable factory equipment + tools (hand tools, lift trucks) + office equipment (computers, scanners, desks) => shorter life, aid production. Supplies: operating supplies (lubricants, coal, paper, pencils) + repair and maintenance items (paint, nails, brooms) => convenience product of industrial field.

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