MGTA02H3 : study guide
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MGTA02H3 Full Course Notes
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Chapter 6: developing and promoting goods and services. Markets must consider what consumers really buy when they purchase products. This way, they can plan their strategies effectively. Customers get value from benefits, features, and even intangible rewards associated with the products. Features: the qualities, both tangible and intangible, that a company builds into its products. Value package: product markets as a bundle of value-adding attributes, including reasonable costs. Buyers expect to receive products with a greater value with more benefits at reasonable costs. Most items in the value package are services or intangibles. Services and intangibles add value by providing benefits that increase the customer"s satisfaction. Products are just more than just visible features and benefits. Consumers are also buying an image and a reputation. Brand name, packaging, labelling, and after-the-purchase service are also essential parts of the marketer"s products. Ads do not usually emphasize the technical features of its products, not even the criteria that companies.
