MKC1200 Study Guide - Final Guide: Marketing Mix, Marketing Week, Intangibility
8 Aug 2018
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Document Summary
Activities, performances or benefits offered for sale that provide value but don"t involve an exchange of tangible goods or a transfer of title. Most products are a combination of tangible and intangible components. Services can be provided using combinations of equipment and people"s intellectual and physical efforts. Pure physical good = tangible product that is not accompanied by any service. Pure service good = nothing tangible is provided. Classification of products based on qualities used in evaluation: To determine whether a product is a good or service, identify how the offering"s quality is evaluated. Marketers can provide better communication or use physical cues or other tactics to help customers form perceptions about the offering"s quality: search. Qualities that can be objectively evaluated prior to purchase (typically goods: experience. Qualities that are most likely to be evaluated during and after consumption. Eg. meal at a restaurant, movie at a cinema: credence. Eg. often professional services such as medical or legal.
