ADMS 2200 Lecture Notes - Lecture 8: Marketing Mix, High High, Retail

• School: York University
• Department: Administrative Studies
• Course: ADMS 2200
• Professor: Richard Patterson

Document Summary

Lecture 8 (product & service strategies) and needs. Services-intangible tasks that satisfy the needs of consumer and business users. Goods-tangible products that customers can see, hear, smell, taste, or touch. Product-bundle of physical, service, and symbolic attributes designed to satisfy a customer"s wants. The marketing mix-blending of the four strategy elements (cid:523)4 p"s(cid:524) product, distribution, promotion, price to fit the needs & preferences of a specific target market. ^services are intangible, inseparable from the service providers, perishable. ^buyers often play a role in the creation and distribution of services. 70%+ of the canadian economy is made of the service sector. Consumer (b2c) product-product destined for use by ultimate consumers. Business (b2b) product-product that contributes directly or indirectly to the output of other products for resale. Unsought products-products marketed to consumers who may not yet recognize any need for them. Convenience products-goods & services that consumers want to purchase frequently, immediately,