[Management and Organizational Studies 2320A/B] - Midterm Exam Guide - Everything you need to know! (63 pages long)

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: John White

Document Summary

Chapter 9 - product, branding, and packaging decisions. Core customer value: the basic problem-solving benefits that consumers are seeking. Marketers convert core customer value into an actual product. Attributes are considered, though the importance of these attributes varies depending on the product. Associated services: the nonphysical attributes of the product, including product warranties, financing, product support, and after-sale service; also called augmented product. Amount of associated services varies depending on the product. Core customer values determine what potential customers are seeking . There are 2 types of products and services based on who is buying them: consumers or businesses. Marketers consider the types of products they are designing and selling because it impacts how they promote, price, and distribute their products. Consumer products: products and services used by people for their personal use. Specialty: customers show strong preference that they will expend considerable effort to search for the best supplier.