BSM 100 Chapter 11: Chapter 11 + Week 9 Lecture Notes

• School: Ryerson University
• Department: Business Essentials
• Course: BSM 100
• Professor: Ranjita Singh

Document Summary

Products are not necessarily just the physical product. Product: anything that an organization offers to satisfy consumer needs and wants, including both goods and services. The value of a product is based on a number of factors: brand. We can choose products for a number of reasons: reputation, quality, functionality, design, unique, satisfies a need. Intangibility: you typically cannot hear, see, smell, taste, or touch a service before you buy it. The biggest challenge in marketing a service is making it seem less intangible. Inseparability: delivery of a service requires interaction between the buyer and the provider; the customer directly contributes to the quality of the service: variability: similar to inseparability, a service can vary in quality from time to time (eg. A chef might cook better at the beginning of her shift as opposed to when she is working overtime): perishability: services cannot be stored for deliver at peek periods.