BUAD110 Lecture Notes - Lecture 6: Procter & Gamble, Laundry Detergent, Coca-Cola Cherry
14 Mar 2016
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Document Summary
Social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. Eras of u. s. marketing: production era, selling era, marketing concept era, customer relationship era. Market offerings are not limited to physical products. Product is a set of benefits from which customers derive value. Product line a group of products that are physically similar or intended for a similar market: product lines often include competing brands like: Product mix the combination of all product lines offered by a manufacturer or service provider: proctor & gamble makes diapers, laundry detergent, etc. Consumer goods classification: convenience, shopping, specialty, unsought. Production goods: raw materials, components, production materials. Support goods: installations, accessory, supplies, service. Product differentiation: the creation of real or perceived product differences: marketers use a mix of pricing, advertising, and packaging to create different images.
