MCS 1000 Chapter 8: Chapter 8 Introductory Marketing Notes

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: Douglas Adlam

Document Summary

Product: anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. Service: any activity or benefit that one party can offer to another that is essentially intangible & doesn"t result in the ownership of anything. Goods, services, & experiences: a company"s market offering often include both tangible & intangible goods & services. Companies that market experience realize that customers are really buying much more than just goods & services, they are buying what those offers will do for them. People, organization (eg. girl guides), place (countries & cities), & ideas can all be marketed like products. Organizations also carry out marketing activities to create, maintain, or change the attitudes/behaviour of consumers towards an organization. First level = core benefit/ basic need the product satisfies. 2nd level= core benefit becomes actual product, with features, design, a quality level, a brand name & packaging.