MGTA02H3 Lecture Notes - Business Analysis, Brand Equity, Brand Loyalty
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MGTA02H3 Full Course Notes
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Features: the qualities, both tangible and intangible, that a company builds into its products. To attract buyers, features also must provide benefits: the mower must produce an attractive lawn or the owner"s pleasure in knowing that the mower is nearby when need. Value package: product marketed as a bundle of value-adding attributes, including reasonable cost. Products are much more than just visual features and benefits. In buying a product, consumers are also buying an image and a reputation. Product mix: the group of products a company has available for sale. Product line: a group or similar products intended for a similar group of buyers who will use them in a similar fashion. To expand or diversify product lines, firms must develop and successfully introduce streams of new products. Faced with competition and shifting consumer preferences, no fir can count on a single successful product to carry it forever.
