COMM 223 Study Guide - Final Guide: Htc, Musical Instrument, Diet Pepsi
31 Jan 2015
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Example: suppose the product quality is low; if you lower price, you can possibly attract customers. After they use the product they won"t be satisfied and won"t repurchase product. In the short term, you can possibly increase revenue, but in long term you can"t retain customers. Suppose you have excellent tv commercials, excellent they purchase product, in long term they don"t repurchase your product: so designing a good product is the key to the success in marketing. There are 3 levels of product: augmented product: delivery and credit, after-sale service, warranty, installation, actual product: brand name, features, quality level, packaging, design, core benefit: fundamental reason why customers buy your product (unmet needs) Example: women buy cosmetics for beauty (core benefit) Convenience product: most of consumer packaged goods (toothpaste, shampoo) Specialty product: sometimes customers never purchase (diamond rings, luxury goods) Product line: each product line should have similar products.
