MGST 391 Lecture Notes - Personal Selling, Marketing Mix, Life Insurance
Document Summary
A product is anything that can be offered to a market for use, or consumption and that might satisfy a want or need such as soap. Other entities e. g. people, idea, places, organizations. Services are a form of product that consist of activities, benefits offered for sale that are essentially intangible and do not result in the ownership of anything. such as a doctor"s exam. The actual product may have as many as five characteristics that combine to deliver core product benefits. The augmented product includes any additional consumer services and benefits built around the core and actual products: delivery and credit, warranty, after sale service. Classification of products: consumer products, convenience, shopping, specialty, unsought. Exclusive distribution in only one or few outlets per market area. Clothing: industrial (business) products,, material and parts, capital items, supplies and services. Standardized or adapted market offers can be differentiated along the lines of: