MCS 1000 Lecture Notes - Lecture 5: Cnet, Durable Good, Intangibility

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: Sylvain Charlebois

Document Summary

Value proposition the benefits a consumer will receive when buying the product. Products include tangible (a physical thing) and intangible (services, ideas, people, places) products that are viewed as a bundle of attributes. You must master the experience for the intangibles. Ex disney land hiring peyton manning to come right after winning the super bowl as a marketing scheme. Having happy employees makes a huge difference for the intangible assets! Innovation the most innovative company in the world is tesla. Slick, modern, and they"re out to prove that an electric car can out perform a gas car, which not many other car companies can do. Reduces the use of gas stations affects petroleum industry. Legislation is not allowing tesla to have dealerships because it will take over the competition. Innovation is not about wowing the marketplace, its not about just trying to produce something at a lower price.