MGTA02H3 Lecture Notes - E-Commerce, Information Overload, Public Service Announcement

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11 Mar 2013
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MGTA02H3 Full Course Notes
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Chapter 6: developing and promoting goods and services. Features are the qualities, both tangible and intangible, that a company builds into its products (ie: 12 horsepower motor on a lawn mower. Features must also provide benefits (ie: mower must produce an attractive lawn (tangible), owner"s pleasure in knowing that the mower is nearby when needed (intangible). Value package is when the product is marketed as a bundle of value adding attributes, including reasonable cost. Most items in the value package are services or intangibles that add value by providing benefits. Greater value is when buyers expect to receive more benefits at reasonable costs. Products are much more than just visible features and benefits, consumers look at image and reputation. Value package: easy access to understandable pre-purchase information, choices of colour, attractive software packages, fast ordering via the internet, assurance of speedy delivery, internet chat room capability.

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