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Chapter 9

Marketing Chapter 9.docx

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Ambika Badh

Marketing Chapter 9 Product • Bundle of physical, service, and symbolic attributes designed to satisfy a customer’s wants and needs Service • Intangible task that satisfies the needs of consumer and business users Good • Tangible products that customers can see, hear, smell, taste or, touch Goods-service continuum • Spectrum along which goods and services fall according to their attributes, from pure good to pure service • Pure good would be a car • Pure service would be a hair salon • In between would be a dinner in an exclusive restaurant Services can be distinguished from goods in several ways: 1. Services are intangible 2. Services are inseparable from the service providers 3. Services are perishable 4. Companies cannot easily standardize services 5. Buyers often play important roles in the creation and distribution of services 6. Service standards show wide variations Most service firms emphasize marketing as a significant activity for two reasons. 1. The growth potential of service transactions represents a vast marketing opportunity 2. The environment for services is changing B2B product Marketing 2MA3: Chapter 9 1 • Product that contributes directly or indirectly to the output of other products for resale; also called industrial or organizational product Types of Consumer Products • Unsought products o Products marketed to consumers who may not yet recognize a need for them o Example: funeral plans, long-term health care • Convenience products o Goods and services that consumers want to purchase frequently, immediately, and with minimal effort o Example: milk, bread, and soft drinks, walk-in hair salons, dry cleaners o Impulse goods and services  Products purchased on the spur of the moment  Example: visit to a carwash, pack of gum tossed in at the register o Staples  Convenience goods and services that consumers constantly replenish to maintain a ready inventory  Example: gasoline, toothpaste, dry cleaning o Emergency goods and services  Products bought in response to unexpected and urgent needs  Example: visit to the vet, visit to the doctor, snow shovel purchased during a snowstorm • Shopping products o Products that consumers purchase after comparing competing offerings o Cost more than convenience products 2 Marketing 2MA3: Chapter 9 o Examples: clothing, appliances, furniture, child care, repairs • Speciality products o Products that offer unique characteristics that cause buyers to prize those particular brands o Carry high prices and many represent well-known brands o Example: legal services, Lexus automobiles, Tiffany jewellery, Gucci leather goods Classifying Consumer Products • Marketers may ask themselves any of these five questions to help classify certain services: 1. What is the nature of the service 2. What type of relationship does the service organization have with its customers? 3. How much flexibility is
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