MGMA01H3 Study Guide - Final Guide: Disintermediation, High Visibility, Mobile Marketing
Document Summary
Experiences are products: vodka, car, lamp, shoe, phone. Two broad classifications: business products, consumer products. Bought by individuals and organizations for further processing or for use in conducting a business. E. g. , raw materials; office equipment; consulting; legal; or advertising services. Promotion and personal selling by producer and resellers. Strong brand preference low comparison shopping and low price sensitivity. Carefully targeted promotion by both producer and reseller. Aggressive advertising and personal selling by producer and resellers. A product or service"s ability to create customer value and satisfy a customer"s need. Quality level should match customer"s needs and competing products not necessarily the highest quality possible. E. g. , a minivan does not need a sports car engine. Performance quality = product"s ability to perform its function. Conformance quality = consistency in performing targeted performance level. Performance quality will vary, but all companies should strive for high conformance quality: style and design. Contributes for a product"s usefulness as well as its looks.
