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Lecture 9

ADMS 2200 Lecture Notes - Lecture 9: Marketing Mix, Retail, Product ManagementPremium


Department
Administrative Studies
Course Code
ADMS 2200
Professor
Kim Snow
Lecture
9

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Lecture 9 (Chapter 10 + Chapter 11)
Chapter 10 The Marketing Mix
Marketing Mix Blending of the four strategy elements: product, distribution, promotion and
price; to fit the needs and preferences of a specific target market.
Product Bundle of physical, service, and symbolic attributes designed to satisfy a customer’s
wants and needs + People buy want satisfaction, not objects
Goods Tangible products that customers can see, hear, smell, taste, or touch
Services Intangible tasks that satisfy the needs of consumer and business users
Services Characteristics
Intangible
Inseparable
Perishable
Cannot easily be standardized
Buyers often play a role in the creation and distribution of services
Wide variations in service standards
Importance of the Service Sector - The service sector makes up roughly 75% of the Canadian
economy
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
Classification of Consumer Products

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Unsought Product Product marketed to consumers who may not yet recognize any need for
them
Convenience Product Goods and Services that consumer want to purchase frequently,
immediately, and with minimal effort
Impulsive Products
Staples
Emergency Products
Shopping Products Product purchased only after the consumer compares competing offerings
on such characteristics as price, quality, style and color.
Homogenous shopping products
Heterogeneous shopping products
Specialty Products Product that offer unique characteristics that cause buyers to prize those
brands
Classifying Consumer Services
Nature of the service
Relationship of the service organization with its customers
Flexibility for customization and judgement on the part of the service provider
Demand and supply fluctuation
How the service is delivered
Applying the Consumer Products Classification System Buying behaviour patterns and
marketing mix choices differ for different product types
Marketing Impact of the Consumer Products Classification System

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Classification of Business Products Categories emphasize product use rather than consumer
buying behaviour
Marketing Impact of the Business Products Classification System
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