COMMERCE 1B03 Chapter 15: Chapter 15.docx
5 Oct 2014
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Chapter 15 managing the marketing mix: product, price, place and promotion. Value good quality at a fair price. When consumers calculate the value of a product, they look at the benefits and then subtract the cost to see if the benefits exceed the costs. Total product offer everything that consumers evaluate when deciding whether to buy something when buying a product, consumers may evaluate and compare total product offers on many dimensions. This may be tangible (product itself or the packaging) or intangible (producer reputation and presentation of the company via advertising) Product line a group of products that are physically similar or are intended for a similar market. Product mix the combination of product lines offered by an organization. Product differentiation the creation of real or perceived product differences. 2. protect the goods inside, stand up after handling and storage, be tamperproof, and deter theft. 6. provide information on warranties, warnings and other consumer matters.
