MKT 201 Study Guide - Midterm Guide: Sherman Antitrust Act, Netflix, Outsourcing
29 Mar 2017
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Product complexity: at center is core customer value: defines basic problem-solving benefits that consumers are seeking, marketers convert this into an actual product b. i. Brand name, features/design, packaging, etc: associated services/augmented product c. i. Non-physical aspects of the product; product warranties, financing, product support, and after-sale service. Require lots of marketing; when new to the world products are first introduced they are unsought products. Breadth: count of number of product lines offered b. i. 1. Too much: costly to maintain and weaken firm"s rep. b. ii. Depth: number of products within a product line c. Increase breadth: add new product lines to capture new or evolving markets and increase sales. Brands add value to products for both consumer and seller: facilitate purchases a. i. Help consumers make quick decisions when they are familiar with a brand: establish loyalty, protect from competition and price competition c. i.
