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COMM 131 Sessions 9-10 Textbook Notes

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Queen's University
COMM 131

WEEK 5 Chapter 8 Pg. 288-293 What is a Product? -anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need -also include services, events, persons, places, ideas, organizations, etc -give special attention to services: form of product that consists of activities, benefits, or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything. Products, Services, and Experiences: key in market offering -include both tangible and non-tangible goods. On extremes: pure tangible good (i.e. soap, toothpaste) and pure services (i.e. check-ups, airplane rides). -now companies are focusing on the experiences rather than the product offeringpeople buy what the product offers do for them Organizations, Persons, Places and Ideas: -organization marketing: consists of activities undertaken to create maintain, or change the attitudes and behaviour of target consumers toward an organization -businesses sponsor public relations or corporate image advertising campaigns to market and polish their image. -people marketing: thought of as product, consists of activities to create, maintain, or change attitudes or behaviours toward particular people -Place marketing: activities undertaken toward particular places. -Ideas: all marketing is marketing for an idea. Levels of Products and Services: consists of 4 levels, each adding more customer level -core customer value: what is the buyer really buying? -actual product: develop the product and service features, design, a quality level, a brand name and packaging -augmented product: built around the core benefit and actual product by offering additional consumer services and benefits Product and Service Classification: products and services fall w/i 2 classes based on customer types: 1. Consumer Product: products and services bought by final consumers for personal consumption. -usually classify further based on how they’re bought: convenience products, shopping products, specialty products and unsought products. Marketing Convenience Shopping (TV, Specialty (Rolex, Unsought (life Considerations (toothpaste) furniture) fine crystal) insurance) Customer buying -frequent purchase -less frequent -strong brand -little awareness behaviour -little planning purchase preference -if aware: little or -little -much -special negative interest comparison/shopping planning/shopping purchase effort effort effort -little -low customer -compare price, comparison involvement quality and style -low price sensitivity Price Low price Higher price High price Varies Distribution Widespread, Selective, few Exclusive, one or Varies convenient outlets a few per area Promotion Mass promotion by Advertising and Carefully Aggressive producer personal selling by targeted advertising and producer and promotion by personal selling by resellers producers and producers/resellers resellers 2. Industrial Products: purchased for further processing or for use in conducting a business -distinction between customer based and industrial is based on the purpose for which the product is bought -3 groups of industrial products: I. Materials and Parts: include raw materials (farm products, natural products) and manufactured materials and parts (component materials, component parts) -most are sold directly to industrial users, price and service are the major marketing factors II. Capital items: industrial products that aid in the buyer’s production or operations including installations and accessory equipment. III. Supplies and Services: include operating supplies and repair and maintenance items. -convenience products of the industrial field purchased with minimum of effort or comparison Pg. 306-318 Product and Service Decisions -first level of decision making is on individual product decisions -next is about product lines or groups of products Individual Product and Service Decisions: 1. Product and Service Attributes: developing a product/service involves defining the benefits that it will offer. -benefits are delivered by: a. Product Quality: characteristics of a product or a service that bear on its ability to satisfy sated or implied customer needsmajor positioning tools -direct impact on performancesatisfaction -define in terms of creating customer value and satisfaction -total quality management (TQM): all company’s people are involved in improving the quality. -quality has 2 dimensions: level and consistency -quality level: support the product’s positioning; =performance quality: ability to perform -quality consistency=conformance quality: freedom from defects and consistency in delivering a targeted level o performance b. Product Features: higher level models are created by adding more featur
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