COMM 131 Chapter Notes - Chapter 8: Business Analysis, Customer Retention, Wrap Rage
26 Aug 2013
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Chapter 8: developing and managing products and services. A product is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. Broadly defined, products also includes services, events, persons, places, idea, etc. A service is an activity, benefit, or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything. Product is a key element in the overall market offering it becomes the basis upon which the company builds profitable customer relationships: market offering generally includes both tangible goods and services. To differentiate their offers, companies are creating and managing customer experiences with their brands or their company. Companies that market experiences realize that customers are really buying much more than just products or services buying what those offers will do for them.
