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Final

BUS 343 Study Guide - Final Guide: Services Marketing, Internal Communications


Department
Business Administration
Course Code
BUS 343
Professor
Cluny South
Study Guide
Final

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Product
anything that can be offered to a market for attention, acquisition, use, or consumption that might
satisfy a want or need
The most basic level is the core customer value, which addresses the question “What is the buyer
really buying?”
At the second level, product marketers must turn the core benefit into an actual productthe
physical device with all its features and associated brand name and packaging.
the augmented productthe additional services and benefits that go with it. So, for example, if
the core product of a smartphone is constant connectivity, and the actual product is an iPhone,
then the augmented product is the iPhone plus a calling plan and data plan.
marketers first must identify the core customer value that consumers seek from the product.
They must then design the actual product and find ways to augment it to create this customer
value and the most satisfying customer experience.
Product and Service classifications
Consumer products include convenience products, shopping products, specialty products, and
unsought products.
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