BSB126 Chapter Notes - Chapter 8: Developed Market, Playboy Bunny, Toothpaste
Document Summary
There is more to a product than its physical characteristics or its basic service function. Marketers involved with the development, design and sale of products think of them in an interrelated fashion. In the centre is the core customer value, which defines the basic problem-solving benefits that consumers are seeking. When designing a product companies must determine what their consumers are looking for in a product for example. Nike consumers are looking for active wear that suits their workouts, of good quality, comfortable and have speed and/ or performance improvement. Marketers then convert core customer values into an actual product which consumers will then receive. Attributes such as the brand name, features/ design, quality level and packaging are important but varies based on what the product is. The associate services, also referred to as the augmented product, include the non-physical aspects of the product, such as product warranties, financing, product support and after-sale service.
