Management and Organizational Studies 2320A/B Study Guide - Brand Equity, Brand Awareness, Signify

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: Kenneth Bowlby

Document Summary

Core customer value the basic problem-solving benefits that consumers are seeking. Marketers convert core customer value into an actual product. Attributes such as brand name, features/design, quality, and packing are considered. The associated services (augmented product) nonphysical aspects of the product, such as product warranties, financing, product support, and after-sale service. There are two primary categories of products and services: consumers or businesses. Consumer products products and services used by people for their personal use. Products or services toward which customers show such a strong preference that they will expend considerable effort to search for the best suppliers. Products or services such as furniture, apparel, fragrances, appliances, and travel alternatives, for which consumers will spend a fair amount of time comparing alternatives. Products or services for which the consumer is not willing to spend any effort to evaluate prior to purchase. Products consumers either do not normally think of buying or do not know about.