Management and Organizational Studies 2320A/B Study Guide - Interactive Marketing, Internal Communications, Total Quality Management

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Products, Services and Brands 2/18/2012 5:12:00 PM
Chapter 9
Building Customer Value
Lululemon’s 4 pillars to success:
o The design and delivery of innovative athletic apparel
o Its culture and training of employees
o Cool stores that resonate with both its guests and the
community
o Strong, authentic community relations
What is a Product?
Product anything that can be offered to a market for attention,
acquisition, use or consumption that might satisfy a want or need
o Includes services, events, persons and places
Services a form of product that consists of activities, benefits or
satisfactions offered for sale that are essentially intangible and do
not result in the ownership of anything
o Banking, hotel, airline and retail
Experiences
o Product is a key element in the overall market offering
o A company’s market offering includes both tangible goods and
services
o Companies that market experiences realize that customers
are really buying much more than just products and services
Levels of Products and Services
Core customer value
Product planners must turn the core benefit into an actual product
Product planners must build an augmented product around the core
benefit and actual product by offering additional consumer services
and benefits
Product and Service Classifications
Consumer products bought by final consumers for personal
consumption
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o Convenience products frequently bought (magazines,
toothpaste)
o Specialty products consumer products and services with
unique characteristics or brand identification for which a
significant groups of buyers is willing to make a special
purchase effort (medical services, designer clothes)
o Shopping products the customer compares on such bases
as suitability, quality and style (appliances, tv’s)
o Unsought products the consumer does not know about or
normally thinks of buying (life insurance, blood donations)
Business (industrial) products bought by individuals and
organizations for further processing or for use in conducting a
business
o Materials and parts raw materials and manufactured
materials and parts
o Capital items aid in the buyer’s production or operations
including installations
o Supplies and services operating supplies, repairs and
maintenance
Organizations, person, places and ideas
o Organization marketing consists of activities undertaken to
create, maintain or change attitudes and behaviour of target
consumers toward an organization
o Person marketing activities undertaken to create, maintain
or change attitudes or behaviour toward particular people
(Rachel Ray)
o Place marketing Saskatchewan government using money to
advertise the province itself
o Social Marketing use of commercial marketing concepts and
tools in programs designed to influence individuals’ behaviour
to improve their well-being and that of society
Product and Service Decisions
Product and service attributes the benefits that it will offer:
o Quality two dimensions: level and consistency
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