MGMA01H3 Final: Final Exam Notes Chapters 9-17, 19

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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. *products also include services, events, persons, places, organizations, ideas, or mixes of these. Service: any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything. Product is a key element in the overall market offering. It may be a pure tangible good (at one extreme) or pure services (at the other extreme). In between, there are many different goods-and-services combinations. To differentiate offers beyond simply making products and delivering services, marketers are creating and managing customer experiences with their brands and companies. Companies that market experiences realize that customers are really buying much more than just products and services. They are buying what those offers will do for them. Levels of product and services include the following:

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